Buying a home is often the biggest single purchase you’ll ever make. But it isn’t just choosing a home to buy that’s complicated. You’ve got to think through neighborhood issues, size issues, and cost issues. Buying a home can also include legal issues, construction or building concerns, and have serious tax implications. Financing your home purchase is another big topic of interest for most home buyers. From this topic page, you’ll be able to find articles and videos that help you understand how to balance what you want in a home with what you can afford to spend. You’ll also be able to refine your search about buying a home by using the topic cloud on the right navigation.
Negotiating New Construction Purchase From Out-Of-State
By Ilyce Glink| 2005-12-19T00:00:00-06:00 December 19th, 2005|
Purchasing a home from another state can be a confusing process. The developer has only given them 10 days to sign and return the contract. Hire a real estate attorney that has extensive experience with new construction purchases. Builder/developer contracts tend to be one-sided, and as a buyer you may not be aware of all the issues that could creep up in a new construction deal. The attorney should review the contract and negotiate any changes with the builder.
Building Up Grade For New Home
By Ilyce Glink| 2005-12-12T00:00:00-06:00 December 12th, 2005|
A homeowner is concerned about the grade leading up to their new home that the builder is working on. The builder is now stating the contract contains only an estimate in the height of the grade and they may incur additional costs. Most contracts will hold the new owners responsible for any "unforeseen circumstances."
Seller Refuses Cash Offer For Home
By Ilyce Glink| 2005-12-12T00:00:00-06:00 December 12th, 2005|
A reader has made a cash offer for a home in an adult community. The seller now refuses to accept the offer. A seller can refuse to sell to anyone and that she may be experiencing seller's remorse over the selling price.
How To Choose A Great Digital Camera
By Staff| 2005-12-05T00:00:00-06:00 December 5th, 2005|
Links to Digital Camera Review Websites
Taking Renter Won’t Violate Ower-Occupied Mortgage
By Ilyce Glink| 2005-11-21T00:00:00-06:00 November 21st, 2005|
Most home buyers receive a loan on the basis of "owner occupancy." They receive a more favorable interest rate than if the property is purchased as an investment property. A home owner is curious if taking a roommate will violate the terms of the loan. They can probably rent a room without violating the terms of the contract, but it's important to read all loan documents thoroughly.
Tips For Buying A New Construction Home
By Ilyce Glink| 2005-11-21T00:00:00-06:00 November 21st, 2005|
A buyer is thinking about buying a new construction home. They were told by their real estate agent that the price is not negotiable. They are also concerned about the lack of track record in their neighborhood with the builder. Builders often don't negotiate price on new construction, but they may be willing to upgrade the details and appliances. Also, any builder worth working with should be able to give you recommendations of a few people he has worked with in the past few years.
Borrowing Money From One Property To Purchase Another
By Ilyce Glink| 2005-11-07T00:00:00-06:00 November 7th, 2005|
Typically, when you borrow money and use your property as collateral, property, it's either called a home equity loan, a home equity line of credit, or a cash-out refinance. The home equity in an existing property can be used as a down payment on a new property. If you have many rental properties, it may be possible to borrow equity against all of the properties as one entity.
Before Buying A Home, Look At Your Credit Score
By Ilyce Glink| 2005-10-31T00:00:00-06:00 October 31st, 2005|
A prospective home buyer is wondering how to handle their credit limit before applying for a mortgage. Unless your credit limits and balances are incredibly high, they could be helping your credit score. It's also a good idea to pull your credit score before applying for a mortgage.
New Owner Receives Summons For Former Owner
By Ilyce Glink| 2005-10-31T00:00:00-06:00 October 31st, 2005|
A new homeowner received a summons for problems the previous owner had with his tenants. You should only have to worry about the summons if you were named in the summons, but this buyer may want to have an attorney look it over. However, false owner scams are increasingly common. The buyer should check with an attorney and make sure they have an owner's title insurance policy.
Seller Didn’t Follow Through On Contingency
By Ilyce Glink| 2005-10-31T00:00:00-06:00 October 31st, 2005|
A home buyer purchased a home with the contingency that the seller pump the septic tank. Two months after moving in, the buyer discovers there are two septic tanks, and one of them has resulted in a $680 bill. Here are a few strategies to help avoid these types of problems and recover some of the expenses.