what should i do from step 1 till the end. Process of bank loan,lawyer matters/fees, withdraw employee saving and etc. I found a house to buy but dont know what to do next.
2007-05-19 01:56:07 · 8 answers · asked by Observer Man 1 in Business & Finance ➔ Renting & Real Estate
Before any of this, you should check your credit, make sure nothing is wrong and that everything is correct... because if there's something wrong and you dont know about it, it can cost you a lot in the long run.... credit is the most important thing when buying a house. Get the inspection done, its worth the cost, check for termites, mold, and other stuff. And then go to your bank, or where you already have financial relations with, and ask about how long it takes to do a mortgage before you sign the contract. The bank will tell you how long, and then go from there. I think you usually get a discount if you already have other accounts with the company you want to get a mortgage with. And finally, shop around for mortgages and try to get the best rate.
2007-05-19 03:02:12 · answer #1 · answered by Anonymous · 1⤊ 0⤋
First thing: get pre-qualified for a mortgage. Determine the asking price of the house, then contact a mortgage broker to see if you can get a loan. Find out what the payments would be. Decide if you can afford it. Look at the house. If you want it, make an offer. If you think the price is too high, hire a licensed real estate appraiser to determine fair market value. If your offer is accepted, apply for a loan.
2007-05-19 09:01:26 · answer #2 · answered by regerugged 7 · 0⤊ 0⤋
Check who is the REAL owner.
Is the house tied to some debt?
Has the owner paid fully for the house?
Is it due for demolition by the state?
Is there any hazards such as electric cables, roof, etc.
Any mob after the previous owner?
Is it haunted? I am not joking. I am serious.
Is it close to the shore or the montains? Beware of tsunami and landslide.
Check for developments in the mountains. It can affect your house.
Who are your neighbours? Approachable? Peaceful?
How is your neighbourhood? Is it a crooks' paradise?
2007-05-19 09:10:13 · answer #3 · answered by Wonder 2 · 0⤊ 0⤋
Check with your local consumer credit counseling agency(non-profit)-look up in the phonebook or board of realtors for a first time home buyer class in your area. The classes are free and usually receive information on down payment assistance programs for first time home buyers in addition with information on real estate appraisal, home inspection, mortgages, Habitat for humanity (program for low income home owners). Your local library has books for free to read about home purchase, mortgages, etc. HUD website has http://www.hud.gov/buying/comq.cfm
2007-05-19 09:13:14 · answer #4 · answered by kjv 2 · 0⤊ 0⤋
You need a good real estate agent or lawyer that specializes in real estate. Also, for general information, check out your local library. There are lots of books about buying /selling real estate.
2007-05-19 09:02:34 · answer #5 · answered by Angie 6 · 0⤊ 0⤋
Get a lawyer and a housing agent.
Go to the registrar to check for detatils of house.
2007-05-19 20:41:47 · answer #6 · answered by TopDog 2 · 0⤊ 0⤋
all above answers are correct, in addition...have the home inspected for termites, water leakage, foundation problems etc... and get it in writing that there are no known structural faults. this is cheap insurance! (buyer beware)
2007-05-19 09:07:07 · answer #7 · answered by bullwinkle3006 4 · 0⤊ 0⤋
your real estate person should guide you thru it
2007-05-19 08:59:22 · answer #8 · answered by Anonymous · 0⤊ 0⤋