 I bought a above ground Pool from Neighbors. They sold the house and the new Owner wants the Pool back.? |
| Do I have to give it back? My Friends said that the Pool was a attachment to the house and the new Owner will null the Contract. They are moving tonight. She wants me to drain the Pool right now so ... |
|
 Refinance home after only 1 year? |
| I know there are many topics on this subject, but I need input on my situation. I just bought a home a year ago and I think I got swindled. I notice now there are many high amount loans with monthly ... |
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 Anyone know lots about mortgages? |
How much is a typical monthly mortgage payment?
How easy is it to cahnge mortgages based on circumstances?
Can you let your property without informing the mortgage lenders?
... |
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 Why do you have to have to give your landlord a set period of notice before you move out? |
I'm thinking of moving out of my flat, and have been told by my landlord to give 4 weeks notice. Why is this? Can I not just leave tomorrow with my deposit?
Any help on this would ... |
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 Should I rent an apartment or buy a condo or duplex? |
| My boyfriend and I are interested in getting a new place together in a few months. We are able to pay about $1000 in rent and have found some nice 2 bedroom places that are in our price range. We ... |
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 I'm 16, my fiance is 21, can we get an apartment together? |
We're in Virginia. I do have permission from my mother to live with him. Can we get an apartment together? If so how can we go about it? (He's military if that matters)
Additional D... |
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 Is it smarter to buy or rent a home? |
| In an rented home, you wouldn't be responsible if the A/C gave out or to roof needed fixing, right. But when you buy a house, your not throwing a payment away never to see it again. When you ... |
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 Can a landlord let themself in the home with out asking? |
| I have a landlord which is also the neighbor and I find when I go on vacation they have come into the home without my approval. Is that legal? I know because they put my mail on the kitchen counter..... |
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 How many times have you moved your home? |
since being out of your parents home
do you meet the national ... |
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 Would you buy an overpriced house??? |
Would you buy a house that was overpriced for the neighborhood it was in, but was much nicer than anything in the neighborhood?
Additional Details
It is my house. We have added a ... |
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 How do I get the seller to move out of my house? |
| I bought a house through a short sale with the previous owners still in the house. They were in foreclosure and the house was weeks away from being set for Sheriff's Sale. The previous owners ... |
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 How do i behave when people are viewing my house to buy? |
Additional Details
Yup there's a realtor doing the work.
kudos to Tripod for understanding the nature of the problem.... |
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 Can a landlord walk into my apartment? |
| Ever since we moved in my landlord come in and out. The first time i was sick and pregnant and my daughter was sleeping so i didnt feel like answering the door so he came in and started to show his ... |
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starlove2 | What are the steps to buying a new house? |
can you list them in 1,2,3 order? do i contact a realtor first or what when i decide on a house? and is there interest in a mortgage? |
 |
 
boozer
 |
i am a realtor,so i would suggest contacting a realtor,then apply for credit to see how much of a house you can afford,your realtor can probably hook you up with a lender,then she/he can help you find the house you are dreaming of,yes there is always interest on a mortgage. |
|
thatgirl
 |
1. Contact a Realtor
Let him/her know you are a first time home-buyer, they will be able to give you names and numbers of lenders to work with.
2. Get Pre-Approved
Working with a mortgage broker or bank, get pre-approved and find how much you are eligible to spend. Keep in mind you will probably be approved for slightly more than what is really realistic for you. You will be responsible for closing costs in most situations -- keep that in mind. Your Realtor will be able to answer your concerns.
3. Get Back in Touch with your Realtor
Give him/her your criteria -- price range, areas your interested in, number of bedrooms -- anything else that's a must for you such as a garage, a backyard whatever is important.
4. The Realtor will pull listings for you, and let you know what is available and also monitor the market for you. Don't be afraid to look on your own too. When something strikes your fancy you can set up a showing with the Realtor to take a look. Don't rush on this shopping around process -- make sure you find the one that is for you.
5. Put in an offer on the house you want. The Realtor will guide you through this.
6. If your offer is accepted you will need to set up a closing, and then the house is yours.
Good Luck! |
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creskin
|
1. Check your credit rating.
2. Check your monthly finances to determine how much you can afford.
3. Check the interest rates.
4. Based on the amount you can afford and the current interest rate use a simple mortgage calculator to determine how much you can borrow.
5. Apply for a pre-approved mortage loan.
6. Expect to pay 5000 to 6000 in fees to buy the house.
7. If you can qualify for a 300,000 dollar house, use 285,000 as your guide, when looking for a house.
8. If your the buyer you dont need an agent. If you want to use an agent, dont pay more than 3% because the agent is also being paid by the seller.
9. Search the Internet and the paper for houses in your area that
10. Locate the house.
11. Haggle back and forth. Dont over pay fees. Make the seller pay some costs. Expect to pay 15,000 less than asking.
12. When signing your offer paper, make sure that there is a 15 day inspection and recision period. Include a 45 day closing period. Dont let the seller drag out the process.
13. Hire your own home inspector, and termite inspector, and have it inspected within 5 days.
14. Have the seller fix any issues that come from these reports.
Expect to pay 200 dollars for these reports.
15. If the seller wont pay for repairs, then determine if you have enough money left in the loan to pay for them yourself.
If not, then find another house.
16. Process mortagage loan and closing documents within 45 days of offer. |
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Bob
|
Purchase the following book:
http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?z=y&endeca=1&isbn=1400081971&itm=2
Read it from cover to cover.
Next, make sure you have a good job, good credit history, money in the bank. Clean up any poor credit history.
Find a realtor who obeys your orders not the other way around. Find a mortgage broker who obeys your orders and not the other way around. Finally, you need a settlement company which won't nickel and dime you at the settlement table. All three entities may be interrelated - which can be a very good thing or a very bad thing. You are free to choose your own mortgage broker and settlement company but it never hurts to talk to the people recommended by the realtor.
You need to see houses that require little or no work and can be purchased for less than asking price - especially in slow markets when sellers are antsy to sell. Do not allow emotions to impact your decision - base your decision to offer a contract on the present condition of the property. If someone else wants to pay full price - let them. |
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purpleskydog
|
If you don't know anything about it a realtor would be best.
Be very careful of what you sign, realtors can be as bad as anyone else. Do not let anyone push you into anything you cannot afford, be careful of your neighborhoods, life can be miserable living next to the wrong party, like having dog poop thrown into the swimming pool and non stop harrassment for kicks. It always best to buy a house that is a little underpriced so you can get rid of it if things do not work out, do not buy a house you canot get rid of. There is interest on a morgage
A Consumer's Guide To Mortgage Settlement Costs
Home Mortages: Understanding the Process
Consumer's Guide To Adjustable rate Mortgages, free copies can be had from the Board of Governors of the Federal Reserve System, www.federalreserve.gov/ 202-452-3245 The Federal Trade Commission also gives away free publications.
Sometimes the Government will pay for down payments and closing costs, especially for first time home buyers, see the National Association of Housing and Redevelopment.
Good luck |
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jaime r
|
I.- Get the money.
II.- Take into account your necessities.
III.- Ask for help a qualified expert. |
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xportuguesax
|
Talk to your bank about a mortgage. They will tell you everything about it. Make sure you are eligable for one.
Make sure you have enough money for a downpayment
Once you have the $$$ sorted out, talk to your realtor about purchasing the home |
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Daniel L
 |
1) Find out what you can afford. Review your financial situation with a reputable lender or loan broker. Get pre-qualified / pre-approved for a loan. Review your credit report so you can fix any errors now. (Your real estate agent will know reputable lenders)
2) Shop around to see what you can get in that price range. Consider areas which are undervalued. You will learn what is available and be able to recognize a good value when you see it. Avoid the emotional aspects of home buying and focus on the practical.
3) Get a reputable agent to help you with the home purchase. Some offer a rebate on their commission.
4) Place an offer on the home you intend to purchase. It is a serious commitment so make certain you understand the offer. Include some contingencies so you can back out, such as the home having structural problems or you not being able to get a suitable loan.
5) Apply for a loan. Get quotes from a couple lenders so you can compare.
6) Move in. Start saving for next year's property taxes. You can also deduct the mortgage interest on your taxes. Review the tax laws because you may be entitled to itemize your taxes and get additional deductions.
Good Luck, |
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Mark B
|
1. Get your credit report, check it for errors carefully. Clear up any discrepancies, pay off any unpaid bills. If you need to contact any collection agencies to pay these overdue bills, make sure to get a letter of payment confirmation.
2. Analyze your financial situation. What I mean is decide how much money you can afford to spend each month on your mortgage. Your mortgage should be no more than roughly 25% - 30% of your monthly income. Ex. monthly income (take home pay)of $2800, your mortgage should not exceed $850 per month. Don't forget to include taxes and interest. Most mortgage websites offer a mortgage calculator. Then figure the rest of your utilities(gas, electric), food and other monthly expenses (car payment, etc.) Figure how much of a down payment you can make. DO NOT use all of your savings for the down payment. (if one is required). This will depend on the type of mortgage you apply for. ( FHA, HUD, first time buyers, etc) Do some research on these.
3. Contact your bank/lending institution to see how much of a mortgage you qualify for. Some banks will do this for free. Also check local interest rates. They will vary from bank to bank, but your credit score will make a difference. The better your credit score (higher is better) the better your interest rate should be.
4. Start searching for your new home. When you find some in your price range, call the realtor or owner for a walk through. Check for things that may need repair (broken windows, screens, exposed wiring). Ask questions right then and there. What appliances and fixtures come with the house? When, if ever, was the wiring updated? When was the water heater/ furnace installed or last cleaned, inspected? Check plumbing by running water in kitchen sink, bathrooms, etc. How old is the roof?
Most states require an inspector to come in and inspect the property befor you buy, usually at the buyers (your) expense. You should get a report from the inspector.He/she will normally check the foundation, plumbing, electrical, furnace, roof) This should be in his/her report.
5. Once you find the house you want, make an offer you can live with, taking into account anything in the inspectors report that will cost you money to fix or replace. Once a deal is reached, the realtor will set up a time and place to do the paperwork and take possesion. Good Luck. Hope this helped you. I am not a realtor, but have been through this befor. Happy hunting!! |
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subi_bcd
 |
1. Count your money
2. Know your monthly income
3. Know the house you want to buy
4. Choose the area and the house that suit your money
5. Contact the fund er (bank?)
6. Contact the Realtor or owner |
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Mike M
 |
Hi,
First, get pre-qualified with a lender. If the lender is any good, they will know all the programs that you can qualify for as a first time homebuyer. The lender should also tell you what kind of interest rates are available for your situation. It doesn't make sense to look without knowing how much you can afford.
Second, once you are pre-qualifed then start looking through the local papers and on the internet in your price range. It may be at this point that you want to contact a realtor so you can see the homes.
Third, make an offer. This is where your realtor can really help you out. They will know the market conditions really well and they will know if you can offer less than the list price.
Fourth, move in.
That is the process in the most basic of terms. There are a few glitches you may encounter along the way, but a good lender and a good realtor will get you through all of it.
Good Luck |
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jplrvflyer
 |
I recommend a realtor. They do more than show you houses. They can help you make a more informed choice. Also, they can smooth the way through the entire process and make the purchase happen when otherwise it might not have. They're the experts.
So the first step is to find a realtor. Ask for referrals. If you know someone who has bought or sold a home recently in the area you want to live, ask them who they used and if they were happy.
You *can* just walk into (or call) a local realty office. You'll get someone. That someone is probably good at his or her job, but you never know.
Once you have a realtor, you'll want to get a feel for the type of house you want. A good realtor will help with this.
You also will want the realtor to set you up to be pre-approved (not pre-qualified, you want to actually be pre-approved) for a loan. This will tell you exactly how much you can buy. I recommend staying under this amount, because a huge mortgage isn't any fun.
After that, basically let the experts do their jobs. Your realtor will walk you through the entire process.
Make sure you get a house inspection by a professional inspector. If the seller won't agree to one, then don't buy the house -- the seller would only disallow an inspection if he knows something horrible is wrong with the house. Never buy a house that hasn't had a formal inspection by a professional inspector.
And you can trust the inspector, because he knows you'll sue him for damages if he misses something expensive that he should have caught. |
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NILESH P
|
1) see the location of house
2) lock the nubbier of House
3) see the background of house (history) |
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Gossai
|
1- start looking around and asking friends and people, UN-OFFICIALLY
2- after having an estimate idea about how much will each area cost, decide where can you afford.
3- go to a Realtor, and give him a range below yours, and keep nagging him Evey half a day....:)
good luck |
|
LisaHW
|
You can find a mortgage company/bank that will pre-qualify you, so you'll know how much house you can afford.
Contact a broker in the area and look at ads in the paper that show some of the properties that are for sale. These days they can show properties online first to see if you have interest. If you see something you're interested in you go see it in person. If you like it you tell the broker you will make an offer. The broker will later pass the offer on to the sellers, and then contact you if they accept it.
It is possible you may see something you want fixed, so you make your offer and specify to the broker that you want that thing fixed as part of the deal (for example, a septic tank problem or damage to the roof, etc.)
When the seller accepts the offer you will likely sign a purchase and sale agreement and put a small deposit down. This is done when you haven't been pre-qualified and the purchase-and-sale agreement says you'll buy the house provided you get financing. If you're pre-qualified there may still be a purchase-and-sale agreement until the financing comes through. In any event, there is the time period between saying you want the house, putting a deposit down, and waiting to pass papers. You don't own the house until you pass papers.
This is when the buyer, seller, bank attorneys, and broker sit down and pass checks back and forth and eventually give you the key to the house. After passing papers the house is yours.
Interest on the mortage? Yes. There is a lot of interest on a mortage, but its how its done. Ideally, you aim to get a "fixed mortage" at as low an interest rate as possible because that will mean your mortgage payments will stay the same for as long as you have the mortgage (which could be 20 years or so).
The is what is called a "variable rate mortgage", but this is risky because people get a mortgage at a low interest rate; but when interest rates go up people sometimes can't keep their homes because the monthly payments get too high.
Much of your monthly mortgage payment will go toward interest, but again, its how its done.
Note: Although the broker works for the seller and not you, part of what the broker can do is tell you how to get financing or get pre-qualified for financing. |
|
sophieb
|
1) apply at a mortgage company or bank and ask them how much they would lend you toward a house. They will review your credit standing, your income, how much you owe, how you have paid your bills, how many credit cards you have, how many times people have inquired about your credit, if you have been late on any payments, and your ability to repay. Ask their rate of interest. Most realtors won't show you around unless they know how much money you have been approved for, and that they know you can place an adequate downpayment.
2) Once you have been approved you can go to a realtor (provide them a copy of the bank's approval letter) and ask them what's available in your area and they will show you homes on their computer, and you can choose which ones you want to see in person (a tour of the home). It is important that you ask what additional costs you will have to pay for. (flood insurance, home insurance, taxes, fees, road or water line updating, sidewalks, etc.)
If you can afford it, then move forward.
Do not get a mortgage that has a balloon payment.
Get a 30 year mortgage and ask the bank for your monthly payments to include PITI (principal, interest, taxes and insurance) flood insurance will not be included in the loan.
I am a licensed real estate agent |
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the_name_is_marley_bob_marley
|
being the real estate agent that i am i suggest first that you choose a price bracket for your new property and decide how much you have to spend.
if this is not your first property you may find it easier to come up with a deposit on your new house.
a deposit of a house usually consists of 5% of the total cost. start lookin round estate agents but dont rush into things as you want the house of your dreams and remeber when pushy estate agents are showing your around it is just so that they can get a pay rise, dont feel like your being pushed into something. its your money not theres!
As my husband is a travel agent they suggest that you perhaps look into buying property abroad as this could seriously improve your bank balance. the best place to start i suggest are the countries coming into the EU. I would suggest bulgaria as a lot of british tourists visit there each year and your apartment is sure to be full all summer. prices of properties in bulgaria at the sea coast star around £20,000 for an adequate 2 bedroom apartment. how ever if you wish to buy in your area or another for that matter you must liase closely with a local estate agent bearing in mind that not all of them are a hundred percent truthful!
STUDY HARD and look for the right property
good luck! |
|
chanda
|
1) DO NOT check your credit before visiting with a loan officer... each time you pull your credit it costs you points off your score.
2) Choose a Licensed Realtor
3) With help from your Realtor, choose a lender. DO NOT GO TO MULTIPLE BANKS AND LET THEM EACH PULL YOUR CREDIT. (see #1) If you have a basic idea what your credit score is, you can tell them and they can give you rough idea at what you're looking at. Once you find a lender you feel good about, see what you get pre-approved for.
4) Let your Realtor know and start looking. Don't be in a hurry, look at as many homes as you want before you make your decision. Your Realtor will walk you through making an offer, countering a counter offer, getting the bank everything they need, deciding where to close your transaction, etc... |
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Â
|
1st and foremost check your credit make sure everything is accurate....fix anything that isn't and then shop around for pre-approval so you know what you can spend and yes there is interest in a mortgage that varies depending on your credit history...around 6%...there are different types of loans out there..1st time home buyer loans, try to shop around so you don't end up with pmi (mortgage insurance) if you have less than 20% to put down. Hope this helps and good luck |
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Dawn
|
Contact a lender to find out how much you're approved for, and they will tell you how much interest you'll be paying. Then call a real estate person, tell them your price range. You can also look for homes. If you find a house that another real estate office is selling, your real estate person can show you, and sell you the house. |
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johnny j
|
Ask for your credit ratings from the credit bureaus, correct any discrepencies, have a current copy ready for the mortgage lenders.
Basically, if you are renting now, and the rent payments are a comfortable payment for you, base your search for a home on what that amount of rent will buy you in a home.
Another thing that new homeowners today need to think about is the closeness of the new house to your job. This didn't use to matter, and one looked to the surburbs and even the country as far as 75 miles out. With high gas prices, the closer you are to work, the more money you will have left over to spend each payday. Today an automobile will cost someone about double what their house note runs a month, with payments to the finance company, two to three tanks of gas a week, and insurance, tuneups, tires, etc. you are probably looking at $1000 to $1500 a month easy in auto upkeep. Public transportation, if available, can easily pay for a new home in savings.
Good luck with your finding a new home.
...jj |
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mei-lin
|
Another point - from an insurance standpoint. I have a lot of people who call wanting homeowners insurance who know nothing about a home's construction. They don't know how old the house is (and consequently the roof, the wiring, the plumbing, whether it is on fuses or circuit breakers - you don't want fuses). If the house is over 25 years old, but sure and ask what updates have been made. This can make a big difference in the cost of the insurance, so be sure and ask these questions! |
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tim p
|
decide on the house and ask the estate agent for thier advise. |
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usaf.primebeef
|
Do all the things listed by others, except the Realtor. You do not need one. I have bought and sold three homes without the help of one, and I saved on the 6% commission they would have received. |
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Sekkennight
|
there is a class just to teach new home buyers that very thing |
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uncoolmom
|
Boozer is right.For me it is important to check the house thoroughly,down to it's pipes.Bathroom must be checked for all the possible damage. |
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crystald
|
1. Dont bother with a realtor, they just want whats best for them.
2. research online where you want to visit
3. Go house hunting!
4. Dont fall for the look and buy specials! They'll still do it in a few days!
5. Once you look at what all they have to offer, interest rate, purchase price, special incentives, then you can put your deposit down.
6. they will send you to their mortagage place , most likely, make sure you UNDERSTAND EVERYTHING, if you dont SAY SO!
7. They tried to go up on the interest rate when I went to sign the initial papers, they said it always fluctautes, I told them WELL THEN NO! they told me theres nothing they can do about the intrest rates, after they found out I wasnt playing, he said well wait a minute.he came back and kept me at my 6%!
8. they will need everything under the sun, bank account statements, pay check stubs, credit card statements, child support proof of pmts, last 2 years tax forms, etc. make sure to have this ready!
9. Sign final paperwork, make sure you understand and you are happy, if for any reason you arent, back out!
BETTER TO LOOSE OUT ON YOUR DEPOSIT THAN TO GET SCREWED!
I backed out on a house before and its the best thing I ever did! |
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Photographer
|
I work for a mortgage company and one thing I strongly suggest is: DO NOT GO TO THE INTERNET for a loan. These investors run your credit 20 to 30 times! No matter whats ur score is. Therefore decreasing the score before it reaches its full potential. Contact a realtor that is REFFERED to you and then have the realtor refer you to a LOCAL LENDER. A lender you can just walk in to. The internet will promise you great rates and terms but will fail to accomplish it when u are ready to close escrow. All this is premeditated by the internet lenders. |
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vanamont7
 |
Informed, sloooow, methodical, careful steps, to be sure! |
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fullofsunshine
 |
A job that you have with for awhile.
good credit.
A good down payment. |
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Suet
|
Save up some cash - cancel old cards - pay your bills on time.
I found that research on this website is the best advice for any big purchase. I haven't bought a house, but i used the car buying budget and the links for credit bureaus.
It lists everything in order AND is unbiased.
http://www.housebuyingtips.com/ |
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