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.
Choosing A Cell Phone Plan
By Ilyce Glink| 2004-12-19T00:00:00-06:00 December 19th, 2004|
Buying a cell phone and choosing a cell phone plan is as complex as ever. Ilyce Glink gives a few useful tips on how to choose from the many cell phone plans that are available and how to get the best cell phone deal.
Self-Employed Home-Buying Challenges
By Ilyce Glink| 2004-12-17T00:00:00-06:00 December 17th, 2004|
Buying a home for the first time is tough if you are self-employed and haven't been so for more than two years. A no-doc loan is a possibility for self-employed home buyers, but comes with significantly higher interest rates than conventional loans. Another option for self-employed home buyers is to find a seller who will take back an 80 percent mortgage until the home buyers have the tax returns to qualify for a refinance.
Negotiating A New Construction Condominium Price
By Ilyce Glink| 2004-12-10T00:00:00-06:00 December 10th, 2004|
How do you negotiate the price on a new construction condominium? The developer may not be willing to negotiate price. Selling at the listing price is usually important for the sale of other units in the development. The developer to give you upgrades on things like appliances, flooring or landscaping because they may be unwilling to negotiate on price. Shop around for other developments in the area and see at what price they're selling.
Credit Report Requested By Home Seller
By Ilyce Glink| 2004-11-05T00:00:00-06:00 November 5th, 2004|
A first-time home buyer is being asked for his credit report when making an offer on a home. Asking for a credit report is intrusive on the part of the seller, so the buyer might have something else going on. The buyer should try to get pre-approved for financing to avoid having sellers ask for his credit report to make sure he is qualified to buy the home.
Preapproved Home Buyer Asked For Credit History
By Ilyce Glink| 2004-11-05T00:00:00-06:00 November 5th, 2004|
A first-time home buyer is preapproved for their mortgage and is still asked for their credit history and score. Home sellers shouldn't ask for a copy of a prospective buyer's credit history, especially if you've been preapproved for a loan. When you get preapproved, rather than prequalified, the lender commits in writing to funding your loan provided that the home appraises out in value.
Seller Refuses To Convey Title
By GlinkAndTamkin| 2004-10-15T00:00:00-05:00 October 15th, 2004|
When you buy a home or, even, a mobile home on contract, you essentially agree to buy it over time.Many installment contracts, if not all, should be handled by attorneys. The attorney can take certain steps to insure that in case you, the buyer, fulfill the contract, the title is held by an intermediary third party ready to convey title to you.
Buying A House With Your Mother-In-Law
By Ilyce Glink| 2004-10-08T00:00:00-05:00 October 8th, 2004|
Buying a house can be a tricky proposition, but this woman has a mother-in-law who wants to go in on a home purchase with them. The mother-in-law has more cash to put toward the home purchase. It's best to engage a real estate attorney up front to work through the issues of this home purchase.
Home Buyer Education Programs: No Free Lunch
By Ilyce Glink| 2004-10-08T00:00:00-05:00 October 8th, 2004|
Home buyer education programs are all the rage these days. Real estate agents and mortgage lenders know that home buyers -- especially first-time buyers - need to know more before they buy a home. So, they're creating customers by educating prospective homebuyers.
Seller Responsible For Item That Breaks After Home Sale Is Final?
By GlinkAndTamkin| 2004-10-08T00:00:00-05:00 October 8th, 2004|
Is the seller responsible for an appliance that breaks after the buyer closes on the house and the sale is final? The seller is only responsible for an item that breaks after the home sale is final if the seller was aware that the item had a problem and did not make the buyer aware. Otherwise, after the home sale is final, the seller should not be responsible - but check with a real estate attorney to be sure.
Down Payment Cash: Get It From Employer
By Ilyce Glink| 2004-09-10T00:00:00-05:00 September 10th, 2004|
As housing prices have soared nationwide, the number of companies giving cash to their employees to help with a down payment has surged. But a relatively new program in Illinois has helped local companies do even more than assist with down payment cash for their workers. Learn about the income requirements for one program that helps home buyers raise cash for down payments.