2006-06-19 11:41:27 · 7 answers · asked by Zack W 1 in Home & Garden ➔ Other - Home & Garden
Regarding selecting a home, work with a local realtor who has historical experience selling within the neighborhood. They will have more current knowledge about real life issues you'll be interested in, as well as trends in sales prices, time-on-market, etc.
Regarding finance, interview several loan officers and compare first time buyer programs, be sure to get Good Faith Estimates and Truth-in-Lending Reg Z printouts which will detail ALL costs...an old game in the business is to rename costs to avoid the appearance of overcharging.
Negotiate everything, including your title insurance and escrow costs, your homeowners insurance, etc. Always leave enough savings in your pocket for that surprise repair you have to make 8 days after moving in.
Don't get forced into a rush escrow. Try to find a friend, relative or neutral co-worker who has recently purchased a home as well. Despite their less than objective perspective (and possible horror stories), they may be a fountain of information and common sense wisdom - things they did right, things they wished they had done differently in hindsight.
These are all answers about the process, don't know if you were looking for something else.
2006-06-19 11:47:47 · answer #1 · answered by Timothy W 5 · 1⤊ 0⤋
lots ! but as long as you have a reputable RE agent and mortgage lender you should be okay.
Things not thought about but should ask about would be:
easements on the property
tax or other liens on the property
covenants to the property (specific rules and regulations)
2006-06-19 11:44:50 · answer #2 · answered by bbq 6 · 0⤊ 0⤋
Always ask for a good faith statement from the lender. Also, have an inspection performed on the house.
2006-06-19 11:44:22 · answer #3 · answered by volkswagenf 1 · 0⤊ 0⤋
Make sure you hire a good, thorough home inspector before you close. Pay for all the tests that are customary for your area.
2006-06-19 12:40:23 · answer #4 · answered by PI Joe 5 · 0⤊ 0⤋
How much of a home they can afford and how much they are willing to spend. Everything else is secondary.
Good luck!
2006-06-19 11:52:10 · answer #5 · answered by Monty 2 · 0⤊ 0⤋
That this is the first home they are buying
2006-06-19 11:43:46 · answer #6 · answered by Bent 5 · 0⤊ 0⤋
try to get the cheapest house in the most expensive area.
any house can be improved but not the location
2006-06-19 11:50:14 · answer #7 · answered by blenlo 2 · 0⤊ 0⤋