Fri, 08 Jun 2012 08:43:41 GMT | By Kerry Gold, MSN Money
Worst homebuying mistakes

Before you buy or sell, watch out for these common errors.



Before you buy or sell, watch out for these common errors.
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A real estate purchase is usually the biggest investment in a person's life. But not every deal proves fruitful. In big cities like Vancouver, Calgary, Montreal and Toronto, where it seems like mere real estate ownership is money in the bank, it can still go seriously wrong.

One of the biggest mistakes is to try to forecast the market, which is what most people try to do, says realtor and lawyer Patricia Houlihan. When is the last time you heard someone say the market was going to go down? They say it every day, but truth is, nobody knows.

"My philosophy is never try to buy at the bottom or sell at the peak as you will miss it every time," says Houlihan.

There are other real estate mistakes, and MSN has compiled a list here — with the help of experts and some of the homeowners who made those blunders.

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