My fiance and i are looking to buy something that is cheap enough so we can buy it outright. We are currently living in Egypt, but wish to come to America for to further both of our educations. We both agreed we wanted to be near my family, and they're all in Trumble, Portage, or Geauga counties. I have no idea where ot begin as the housing in Egypt to America is completely different. We wont have much money, in American dollars, to buy a place, but he can't stand renting. I'm stuck! Please help.
2007-02-17 13:11:52 · 3 answers · asked by amby_rya 1 in Business & Finance ➔ Renting & Real Estate
first, find a mortgage lender. you need one in the usa, particularly one that lends in the locations you mentioned. you may want a mortgage BROKER instead of lender (tied to one bank) only because your income in egypt will need to be understood by a lender. a mortgage broker accesses all different sorts of mortgage programs. you will supply truthful information about your combined gross income and debts. then, he will figure out what you can pay.
next, find yourself a Realtor (r) buyer's broker. i don't think you should go out to see houses with them. i think they should sit down with you in the office first, to discuss what your budget is, the type of work both of you do, the number of hours you spend on the job (because that's really important if you want a single family home, which requires your time to maintain it, but a condo is 'self maintaining' in that your assessments pay for that), what you NEED and what you WANT.
the one thing you should ask, up front, on the phone or if you walk into an office, is the the agent explain this to you: AGENCY. you want to know what the agent knows about protecting your interests above her own. you need a buyer's broker, an agent, that would never disclose your negotiating tactics or how much you will go up to with the seller's side. never. when you find one that can convince you that she will protect you as well as explain contract terms to you, then stay with her. you won't need anyone else. of course, that buyer's broker should be a member of the multiple listing service.
so, welcome! but know: 1. find out what you can afford; 2. find a buyer's agent/ broker that will protect YOUR INTERESTS, and 3. be prepared to explain your NEEDS versus your WANTS.
oh, one more thing: don't be afraid. a good buyer's broker can easily let you see what prices are on the recently closed deals in the location you are looking in, and why they sold for that. everyone is scared. don't be scared. if your buyer's agent has truly listened to you prior to performing the first search, she just might find exactly, precisely the place you'd be happy in THE FIRST TIME you go on showings. if so, write an offer. if not, be sure to have a cup of coffee after your showings so you can tell your agent what you liked and did not like in what you saw. you might bring a digital along to help you remember. and my advice is: try not to see more than 4 properties in one day.
and, stay loyal to the agent that is working on your behalf. if you walk into an open house, give the agent your agent's card. let your agent make a living for working for you. they do not get paid a dime until closing.
2007-02-17 13:53:50 · answer #1 · answered by Louiegirl_Chicago 5 · 0⤊ 0⤋
After determining what area to live in, find a real estate agent to represent you as the buyer (you can work with more than one at a time if you want to try a few to see who makes you feel most comfortable.) They will pre-qualify you to see how much house you can afford, ask you what you are looking for in a house, and start looking for available ones that meet your criteria. This information will get you started, I'll let the real estate agent take it from there.
2007-02-17 13:17:59 · answer #2 · answered by Brian G 6 · 0⤊ 0⤋
You may get some suggesions about your home from
http://homeloans.atspace.com
2007-02-17 17:05:28 · answer #3 · answered by Roxxy N 1 · 0⤊ 0⤋