Buying a Home with a Broker or Agent

Posted by: Madeleine Brooks

Buying Your First Home

Posted By: Madeleine Brooks

Say you just got married and you want to raise a family but you're living in a one bedroom apartment in a major city. Maybe it is time to consider buying your first home. Buying a home isn't like buying a pair of shoes or an article of clothing. There are many decisions one must make to decide whether or not a home is the best decision for your financial situation. Buying a home is an investment that will be fifteen to thirty years down the road an investment that can be converted into cash to pay off debt, pay for your childrens' college education and even pay for your retirement.

So what do you, as a home buyer need to keep in mind? You always hear the phrase "location, location, location". Location is an important factor in purchasing your home. Would you like your home to be behind a railroad track where you hear trains passing through every hour on the hour? Or would you like your home to be in a residential area that is quiet and secluded? Do you as a home owner want to be relatively close to a major city or out in the country? Would you also like your home on a heavily traveled street or far into your neighborhood? Every location decision has a positive attribute and a negative consequence.

Another question as a home buyer is what type of home would you like to have? A one story home known as a ranch, a two or more story home, a split level? Also many people have a specific requests for the interior of the home. How many bedrooms? Bathrooms? A large kitchen? A spacious living room? Then external factors play a role as well. Whether or not you would like a pool (in the ground vs. above ground), have a swing set, building a fence around your property.

Besides the physical home itself, people will also take into consideration school districts for their children, the community around your home, the neighborhood you are living in, and possibly the distance from your home to your workplace. It is highly recommended to have a real estate broker to help you with your home purchase. Because you are buying your first home, having a broker will assist you in knowing the value of homes, good locations, and to help you with your needs and wants in your ideal first home.

It is a new and exciting process in your life. Take these questions into consideration and hopefully your first home buyers experience will be one that is worthwhile and easy!

References:

http://homebuying.about.com/od/buyingahome/a/buyerinfo_2.htm
http://homebuying.about.com/od/buyingahome/a/buyerinfo.htm
http://finance.yahoo.com/how-to-guide/real-estate/12819

Know Before You Go

By Alcides Hoy Jr.

Many of us are approaching the home buying phase real soon. There are few things we should know first before we go.

Real Estate Success

By:Alcides Hoy Jr.

In todays world everybody feels like buying real estate is just that simple. Many times it is the backstage tips that will allow us to flruish when it comes to property buying and selling. You have to ask yourself before WHAT DO I REALLY KNOW ABOUT REAL ESTATE? Here are some tips that could possibly change your life or better yet change the way you look and react toward buying and selling property.
When selling a home people minds are trained to search for the highest value. But in reality when we are in an economy that is so vulnerable hiking up the price will only hurt you. Your best bet is to keep your house at an affordable price so that you can seal the deal which is the main objctive. The longer it sits in the houses for sale pool, the more the price could be forced to drop. Also when selling make sure that the walk from the driveway to the inside of the front door sets the tone. Many times people want to see the appeal on the exterior in order to want to see the interior.
There are some sellers but almost twice as many buyers in the world. Many times you want to set the trend of the askign price. Do your reasearch to find out what the going price is on a the type of house you are buying and how long has it been sitting on the market. And lastly dont expect the unexpected because you could set yourself up for dissapointment. Overall as a home buyer and seller you need to have a strong business plan so that if one thing goes wrong you will have a counteraction for to get as close to success as possible.


http://money.cnn.com/2006/05/04/real_estate/realestatetips_selling/index.htm

http://www.nytimes.com/2005/02/13/realestate/13assets.html?_r=1&scp=5&sq=real%20estate%20tips&st=cse

http://money.cnn.com/2006/05/04/real_estate/realestatetips_buying/index.htm

Capitalize On Foreclosures

By: Alcides Hoy Jr.

Steps to buying a House

Written by: Liwin Troy Lee

1. The first step you should take before buying a house is finding how much the bank (lender) is willing to lend you monthly and decide whether you are comfortable with paying that amount back.
2. Find a good lawyer. You can do this by asking your friends and family or calling them up. Find how much they charge (the fee should be fixed). Decide if you like the lawyer. A good one takes their time to explain things.
3. Find the houses that are selling in the area and find out how much they are selling it for.
4. Come up with a down payment. This is usually 15 to 20 percent of the selling price.
5. Find a real estate agent you can trust.
6. When you find a new house, do not fall in love with it because you might not get it. Find comparable houses in the area and how much they were sold for. Offer a reasonable bid.
7. Wait for a reply. Expect rounds of counter offers.
8. Once your offer is accepted. Put down a binder (1%) until the contract is signed.
9. Call your lawyer and ask him to explain the details of the contract to you.
10. If all goes well, sign the contract. Then pay a 10 percent down payment.
11. Submit mortgage application with application fee. Ask the lender to lock the rate until closing date. Some application fee cost include attorney fee, title insurance, appraisal fee, home inspection and property tax.
12. Show up at the closing and sign the paper. Also, bring lots of checks to pay the various fees.

Sources
What are the Steps involved in Buying a House?
The Seven Steps to Buying a House
Home Buyer's Basics