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BETHESDA Real Estate - Home Buying Process Information

Home Buying Process



Know Your Rights as a Homebuyer

Home Buying Process Information The home buying process can be enjoyable when you follow these tips! Before you start, there are many laws that protect you from scams, unnecessary expenses, and discrimination in the process of homebuying. Know your rights!

Find out How Much Mortgage Can You Afford

You can save yourself a lot of wheel-spinning during the home buying process if you take a minute to figure out how much mortgage you can afford. Generally, a lender will want the homebuyer's monthly mortgage payment to total no more than 29% of your monthly gross income (that's your monthly income before taxes and other paycheck deductions are taken out.) You also need to consider current loan interest rates. The lower the interest rate, the more expensive the home you'll be able to afford. Follow our tips and use these simple calculators to see how much you can afford in a mortgage payment.

Create Your "Wishlist"

Make your Wish Lst. As a homebuyer focus on the features you want in a home: 2 bedrooms or 3? 1 bath or 2? Garage or no garage? Knowing what you're looking for will help you focus your search. And it will help your real estate broker, too.

Find a Real Estate Broker

One of the first steps in the home buying process is to start searching for a broker. Talk to several and find someone you think you'll be comfortable working closely with. Many of your friends and relatives have probably bought and sold their homes through brokers. Ask them who they used and what their experiences were. You can find out which brokers specialize in the kind of home or the area you want by looking in the Yellow Pages or your local newspaper's classified real estate ads. Or drive through neighborhoods and note the names of brokers on "for sale" signs. When you talk to prospective brokers, ask questions about the areas and types of homes in which you're interested. Do they seem knowledgeable? Most important, is their personal style a good fit with your own?

Mortgages and Homebuying Programs

Many different kinds of mortgages are available to you. Read about them, and make sure you understand the pros and cons of each. Your real estate broker can help you. HUD offers some special homebuying programs. Also, many local governments offer special homebuying programs to help low-income homebuyers. Shop around - you may be surprised at all your options!


 

 

 

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Dont Let It Fall Through - What makes a deal fall through? Avoid the common pitfalls!
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BETHESDA Real Estate Tax Advice - Selling a home can have a major impact on your federal and state tax returns.
Property Inspection - Regardless of what the inspector may uncover, you shouldn't be overly concerned about the actual home inspection
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Open House Expectations - Was vacating your home for four or five prime-time hours worth the inconvenience?
Your Open House - Was vacating your home for four or five prime-time hours worth the inconvenience?
Your Open House - Public open houses may be more beneficial for the agents themselves than for the home sellers.
Marketing Info - Your broker's marketing efforts and considerations will include advertising, showing the property, how long the house has been on the market and whether you're buying another home.
Listing BETHESDA Real Estate - A listing agreement is a binding legal contract that shouldn't be taken lightly.
Selling My Property - The age-old observation that "you never get a second chance to make a first impression" certainly applies when it comes to attracting buyers to a for-sale home.
Getting BETHESDA Real Estate Ready - A house that "sparkles" on the surface will sell faster than its shabby neighbor, even though both are structurally well-maintained.
BETHESDA Real Estate List Price - Setting the list price for your home is an important first step to selling your home!
Housing Market Info - Here are some helpful definitions to help you follow the numbers.
Pricing Your Property - Pricing decisions should be grounded in reality rather than wishful thinking.
Property Appraisal - Property appraisal is a very important part of any new home purchase!
BETHESDA Real Estate Appraisal Info - Consumers tend to have some misconceptions about the appraisal process
More Tax Advice - Selling a home can have a major impact on your federal and state tax returns.
BETHESDA Real Estate BETHESDA Agent - A real estate agent can help you understand everything you need to know about the selling process.

BETHESDA Real Estate