Posts in category 'Buyers'

The home-buying process is long and arduous. You often spend months searching for the right home before you make an offer and once an offer is made and accepted, you must jump through several more hoops before the sale closes. An important part of the process is the home inspection where a professional makes sure everything in the house is functioning properly and identifies needed repairs.

The buyer pays the cost of a home inspection but can always wave the right to an inspection. That's not a good idea. You should make a home inspection a mandatory part of the home-buying process. You need unbiased documentation of the home's condition. This goes for both the purchase of a pre-owned home as well as new construction.

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So, you're getting ready to buy your first home, and you feel like you're at the mercy of the market. And your mortgage lender. In some ways, it might even feel like they're working against each other - especially if you're in a really hot market in which you can't qualify for the amount you'd need to buy what you want.

When it comes to providing pre-approvals for would-be homebuyers, lenders today are more careful than they were in the years leading up to the market crash, and that means your financial picture will be more rigorously scrutinized to determine your credit-worthiness and develop your max approval amount. Trust us, that's a good thing. The last thing you want is to be house poor. Having a great place to live that you can't enjoy or furnish or even leave because you have no money left won't be fun.

Just because a lender says you...

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There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.

We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer:

You may not be much different than...

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Buying Secret #10: Keep Your Money Where It Is

It's not wise to make any huge purchases or move your money around three to six months before buying a new home. You don't want to take any big chances with your credit profile. Lenders need to see that you're reliable and they want a complete paper trail so that they can get you the best loan possible. If you open new credit cards, amass too much debt or buy a lot of big-ticket items, you're going to have a hard time getting a loan.

Buying Secret...

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When you're in the real estate market, you may have an idea of the type of property that you're looking for in a specific area. Although most people want plenty of square footage or a stunning bathroom, there are particular home features that are often considered to be must-haves. Here are a few essential home features to look for when shopping around:

Laundry Room

Many people want to own a home that features a laundry room due to the convenience that it offers. Laundry rooms are increasing in...

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