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