A Guide for First-Time Homebuyers

Why You Should Use an Agent

There's no need to go it alone! A real estate agent can help guide you through the home-buying process.

After: A Little Love and Landscaping

4 Mistakes You Should Try to Avoid

Rule number one? Don't get more than you can afford. Instead, keep your payments manageable.

Advice for First-Time Homebuyers

  • Let the mortgage professional know what sorts of programs you are interested in or leaning towards. They'll ask you to complete the 1003 form and will almost universally ask you to give them the…   Read the Article

  • To make an "as-is offer" is to state that you, the buyer, will take the property in the condition it is in as of the date you make the offer, and will not ask the seller to do any work or repairs to…   Read the Article

  • 1. Don't close any accounts. It makes it look like you have less available credit. Pay accounts down to 30 percent, or pay them off if you insist, but DON'T close them! 2. Don't open new…   Read the Article

  • Disparage the Property, Its Location, Condition, etc. -- Don't even bother trying to justify a lowball offer. (Believe me, the seller and their agent were well aware that there's an electric tower in…   Read the Article

  • When you're buying a home, Plan A is always to buy the home on the terms in the original contract. Plan B is to buy the home after renegotiating some of the terms. Plan C is the contingency…   Read the Article

  • Price isn't the only way to win over the seller. Non-price terms -- like a quick close or an all-cash transaction -- can be appealing for sellers, particularly if they are motivated or your offer…   Read the Article

  • Formulating an offer is not a precision endeavor. Unless you are buying a new home, or a home or unit in a development where identical units have sold very recently, there is definitely an…   Read the Article

  • Homes appreciate as a function of how much they are worth. If homes in your area appreciate nine percent annually, then a $300,000 home will appreciate about $27,000 per year, but a $500,000 home…   Read the Article

  • Most mortgage brokers work under the auspices of a brokerage company, with which they share their commissions in exchange for access to lenders, office space, etc. If your mortgage broker works for…   Read the Article

  • Step 1: Find the CandidatesFind your candidates from interpersonal relationships you already have, or ones that you create during the Preparatory Phase. Ask people you know who own or are…   Read the Article

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