|
Congress has passed the home buyer tax credit extension!
Here are some great links with information!
http://www.wra.org/pdf/government/2009_NAR_IssueBrief_HomebuyerTaxCreditChanges.pdf
http://www.wra.org/pdf/government/2009_NAR_FAQ_TaxCreditChanges.pdf
Please call or email me today for more information!
Laura Staude
Century 21 Crossroads Realty
920.699.8121
|
Buying a house is the largest investment most people ever make. Yet all too often it's a decision made in haste without adequate preparation. Use our list of common house-buying mistakes to avoid costly regrets.
5. Misplacing your trust. No matter how much you like the agent, sellers, inspector, or the guy down the block who vouches for them, remember this is a business transaction. Your decision is binding. Do your own research and know your support team's roles and responsibilities.
6. Relying on oral agreements. Get it right and get it in writing. Written agreements almost always trump oral ones when it comes to contracts. If the offer says the lawnmower is negotiable, but the agent says it's included, get it in writing.
7. Skipping the fine print. You need to understand what you're signing before you pick up a pen. Ask for documents in advance, make time to read them and ask questions. Get copies of your mortgage papers a few days ahead of closing.
8. Forgetting or betting on resale. Avoid buying a home that costs 50 percent more than neighboring homes and think before buying the most expensive home on the block. Your neighbors' lower home values will weaken yours. Remember, markets change. If you buy intending to flip your investment and the market falls and you have to sell, your selling price may not be enough to even cover your mortgage.
9. Making an unconditional offer. Protect yourself with at least two of these contingencies in your offer:
- Mortgage financing -- You're pre-approved, but is the house? Before a bank will lend you money, it will want a formal appraisal of the property to confirm that there is sufficient equity in it to warrant the loan. If the house appraises lower than the sales price, the loan may be declined.
- Inspection -- never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.
- Insurance -- confirm you can get adequate coverage. In some areas, it's difficult to get hazard insurance.
10. Having buyer's remorse. No place is perfect. There will always be surprises. Don't let a few initial blips spoil the whole ride. And don't miss a great house waiting for the perfect one!
from: http://www.lendingtree.com/smartborrower/first-time-home-buyers/buying/top-10-house-buying-mistakes/
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved