Home Buying Tips

IMPORTANT THINGS TO AVOID BEFORE BUYING A HOME

• Don’t Move Money Around
• The Effect of Changing Jobs
• No Major Purchases of Any Kind

DO NOT BUY A CAR – OR DID YOU ALREADY BUY ONE?

• When Income Grows and You Want to Buy “Stuff”
• Debt-to-Income Ratios and Car Payments
• How Buying a Car Reduces Your Purchase Price

THE BUSINESS CYCLE AND BUYING A HOME

• Recession and Expansion
• Supply and Demand
• Should You Try to “Time the Market”?

COMPARABLE SALES AND YOUR OFFER PRICE

• Determining Your Offer Price
• Comparable Sales in the Public Record
• Comparable Sales in the Multiple Listing Service
• Comparable Sales – Pending Transactions
• Other Factors Influencing Your Offer Price

MAJOR FACTORS INFLUENCING YOUR OFFER PRICE

• How Property Condition Affects Your Offer
• How Home Improvements Affect Your Offer
• How Market Conditions Affect Your Offer
• How Seller Motivation Affects Your Offer
• The Final Decision on Your Offer Price

OFFERING TO PURCHASE REAL ESTATE – THE BASICS

• Introduction and Overview
• Contingencies in a Purchase Offer
• Earnest Money Deposit
• The Closing Date
• Transfer of Possession

HOW FHA AND VA FINANCING AFFECTS YOUR OFFER

• Extra Costs for the Seller
• VA and FHA Appraisals

HOW FINANCING DETAILS AFFECT YOUR OFFER

• Down Payment
• Interest Rates
• Closing Costs and Financing Incentives
• Seller Financing
• Cash Offers
• Other Financing Details in Your Offer

WRITING AN OFFER – SAFEGUARDS REGARDING THE PROPERTY

• Disclosures From the Seller
• Condition of the Property Upon Transfer
• Inspections You Should Require
• Final Walk-Through Inspection

SELECTING SERVICE PROVIDERS

• You and the Seller Must Agree
• Escrow and Settlement
• Title Insurance
• Termite and Pest Inspection