what do a person need to do when someone want to buy a house from start to finish?

Question

first time and don't know anything

Answer 1

i'd have some good savings or at least a decent job for a few years. i had no income verification but had savings to show. so you need either one or the other. you can buy these days with no money down. there are different loan types. i'd talk with a broker first about your credit and what you'll need. once you find out how much you can afford, you can go look at homes and be ready to make an offer right away. the lender will make you get it inspected first. if you work with a real estate agent or your broker, they will be able to walk you through all the paperwork and everything neccessary. if i would have known how easy it was to buy a place, i would have bought something a long long time ago. if your buying a condo or newer development make sure to ask questions about maintenence costs and whats included. keep in mind the costs of any repairs or changes you will want to make when your making them an offer. after you make the offer. after they accept the offer, you will sign a contract. they will ussually give you 30 days to get it inspected and complete the sale and you may have to put down a deposit of a few thousand dollars to show your interest when signing the contract. when closing on the house, you will probably want to go with a closing company. this is great because they handle all the paperwork for you. then you will sign a million papers and get the keys to your new home. good luck!!

Answer 2

As housing market continues to slump, if you don't plan to delay your plan, please interview several and pick a good realtor or agent.

Bad ones will talk you into buying the largest property at your credit limit. Good ones will find you a good deal (Sellers are offering discount and incentives now).

Try to stay away from Adjustable Mortgage, because 30 year fix mortgage rate is very low right now. There is no reason to use Adjustable loans except fatter commission for loan agents.

Interests only loans are not good iether. Mortgage payment consists of two parts: interests and principal. Interests are like rent, which doesn't add to the equity to your house. It simply disappear as your pay it. If you want to use interests only loans, might as well rent, especially during market downturn, because housing price won't appreciate.

Finally, for tax benefits, talk to your CPA or tax accountant. Do not consult finance with realtors or agents. They get commissions when you sign the check!

Good luck!

Tips on negotiation
http://biz.yahoo.com/brn/060909/19463.html

News on current market condition
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514

Answer 3

Learn somehing about real estate. Read from available ebooks you can have so that you know what to do.

Xerox all the original documents pertaining to your ownership of the house. Prepare a deed of sale for payment that it has been sold to that person of etc. etc.

Answer 4

Call your local FHA office about a first time home buyers class. I would also find a well established agent. This is typically an agent who has his/her name on the sign itself and not on the extention tag hanging from the sign.

Answer 5

I'm thinking learning English would be a good start.

Answer 6

see the property...see the location..see if you can effort...book a estate agent.....sign some papers...get a loan from the bank if you dont have any cash and off you go...

Answer 7

MONEY, decent credit and a good real estate agent

Answer 8

first learn english, then learn how to type, then ask later.

Answer 9

check with hud& save alot of money.