Buying a house will most likely be the most important purchase you make in your life. The lenders and agents are counting on you to walk blindly into your home purchase. Make them work for you. Take the extra time, arm yourself with the knowledge of home buying and lending practices in order to make informed, sound judgments and decisions.
Whether you are a first time home buyer or a happy home owner who wants to refinance an existing home loan, there are some cardinal “dos” and “don’ts” to follow. For many, home ownership is the biggest investment in their lives and that could be the reason why some people act irrationally, as if they purposely want to sabotage the deal. Follow these simple rules and you will be sure to make your experience difficult and unpleasant, if not a complete disaster.
Don't get pre-approved or pre-qualified for a loan; lose your dream home to someone else.
Being pre-qualified shows some commitment on your part to both the mortgage broker and the seller. Being pre-approved is an even better step to take. The lender knows your financial standing and is able to present you with the loan deal. If you are neither pre-approved nor pre-qualified, a real estate agent representing the seller will not treat you seriously, and the property you want will most likely sell to someone else during the time you waste securing a home loan. Go ahead and procrastinate, you didn't want that house anyway.
Make verbal contracts only. Talk is not cheap.
Since they are not enforceable in most states, make sure that the details of the deal regarding who pays certain costs or necessary repairs are agreed on verbally, and only verbally. Similarly, when the lender tells you that your rate is locked in, don’t ask for written evidence. You might be in for a big surprise at the closing appointment, but who doesn't like surprises?
No need to be discriminating. Choose a lender by using only one criteria.
A favorite criteria of most people is to go with a bank that offers the lowest interest rate, without any consideration of the true cost of the loan. Even if you know how to calculate it, you'll probably choose the lowest rate loan. The chances are that the lowest rate bank is charging a lot more in fees and points than others, but who has time to shop around? Life is busy. Others, usually more cautious people, go with the bank where they have their checking account. After all, your bank loves you and would not wish any financial harm, right?
Pay more than you should. Choose the seller’s real estate agent to represent you.
It is truly the best option. Rather than asking friends or colleagues for referrals, picking up the yellow pages or searching online for your own agent, simply go with someone whose job it is to get the best deal for the seller. Who cares about conflict of interest. Be house poor.
No need for tedious professional home inspections.
After all, what could go wrong? Leaky roofs, plumbing problems, termites, asbestos; all a minor nuisance. If electrical problems happen to start a fire… well, that’s what smoke detectors are for.
Don't bother reading important contracts. Just sign all documents.
They are long, difficult to read and understand and are very time consuming. Rather than familiarize yourself with them ahead of time, just wait and sign everything at your closing appointment. Besides, what you've signed may open the door to a world of surprising homeowner adventures you could never have imagined. More surprises for you to enjoy!
Buying a house will most likely be the most important purchase you make in your life. Don't mess it up!
There are countless websites, magazines, books etc with which you can empower yourself in this daunting task. Don't let yourself be taken advantage of; learn all that there is when it comes to buying a home. If you want to fail, just follow the preceding steps. But, success at negotiating the best price and the best loan rates can be achieved by simply avoiding these foolish and costly mistakes. The lenders and agents are counting on you to walk blindly into your home purchase. For them, the bottom line is getting the commission. They are hoping for as quick a sale as possible, and they would like you to be a typical uninformed client who makes decisions with their hearts only and not their heads. Make the agents work for you. Take the extra time, arm yourself with the knowledge of home buying and lending practices in order to make informed, sound judgments and decisions. You've worked very hard to get to the point of buying a house, so be smart about it and don't mess up!
Find more about home loans, insuranceFree Reprint Articles, and money saving tips at: How Much?
http://www.howmuchanswers.com/
ABOUT THE AUTHOR
Simon Fox is a senior staff member with How Much? - Comparing financial products.
Saturday, October 13, 2007
Home Protection: Protecting Your Castle
In this articles you will find tips on how to protect your Family,Home,property.
Information on home protection products that makes your home a lot safer.
Tips on walking around the outside of your home, and looking carefully with “thief eyes” you should be able to identify any exploitable areas.
Your home is your castle. It contains your most valuable possessions, not the least of which is your family. It is an unfortunate reality that criminals will exploit any gaps in your home protection system in order to invade your private domain. This can result in the loss of cash, jewelry, electronics and your sense of security. Or, even worse, it can result in the loss of a life; yours or a loved one’s. Citizens are understandably becoming more and more aware of the dangers that face them, and are looking for solutions.
Home owners need complete security plans that will protect their residence and everything in it, both while they are at home and while they are away. Home protection is a top priority. The first step in home protection is to complete a comprehensive evaluation of your home’s “weak zones’. These are the aspects of your home that leave it open to attacks. By walking around the outside of your home, and looking carefully with “thief eyes” you should be able to identify any exploitable areas. For example, windows provide an easy avenue to enter your home, especially when they are on ground level. You may also notice ways in which higher windows can be accessed either via trees or other buildings on your property. After completing a survey of your property, it’s time to obtain the self defense and home protection tools that will keep you, your family, and your cherished belongings safe.
Here are some easily overlooked weak points that most homes offer to criminals, and the effective tools that will deter them. Many of us believe that the lock on our door will be enough to keep a burglar out; if we feel that we need extra security we simply add more locks. What we do not consider is how easy conventional locks are to pick. By adding more you may slow the burglar down a bit, but not enough to deter them. The solution is to install an unpickable lock. Advancements in technology have essentially made keys obsolete; it’s time for you to get up to date with a fingerprint door lock.
These locks will only allow you and your family to unlock the doors which means no keys to lose and no locks to pick. Within your home you likely keep valuable such as jewelry, cash, and important documents. Protect your assets by keeping them safely secured in a safe. There are several models of safes on the market. The most advanced systems combine sturdy construction with fingerprint recognition access. When searching for a merchant that carries home protection equipment it is important that you seek one who is reputable and knowledgeable. A great place to look is at http://bljsselfdefense.com/home_protection.html. This company offers a wide variety of items, includingfingerprint locks and safes, and provides consumers with education on self defense. In addition to the online resourcesHealth Fitness Articles, BLJ's Enterprises supplies its customers with personal attention to help ensure that they develop a home protection strategy that is right for them.
http://www.articlesfactory.com/articles/family/home-protection-protecting-your-castle.html
Information on home protection products that makes your home a lot safer.
Tips on walking around the outside of your home, and looking carefully with “thief eyes” you should be able to identify any exploitable areas.
Your home is your castle. It contains your most valuable possessions, not the least of which is your family. It is an unfortunate reality that criminals will exploit any gaps in your home protection system in order to invade your private domain. This can result in the loss of cash, jewelry, electronics and your sense of security. Or, even worse, it can result in the loss of a life; yours or a loved one’s. Citizens are understandably becoming more and more aware of the dangers that face them, and are looking for solutions.
Home owners need complete security plans that will protect their residence and everything in it, both while they are at home and while they are away. Home protection is a top priority. The first step in home protection is to complete a comprehensive evaluation of your home’s “weak zones’. These are the aspects of your home that leave it open to attacks. By walking around the outside of your home, and looking carefully with “thief eyes” you should be able to identify any exploitable areas. For example, windows provide an easy avenue to enter your home, especially when they are on ground level. You may also notice ways in which higher windows can be accessed either via trees or other buildings on your property. After completing a survey of your property, it’s time to obtain the self defense and home protection tools that will keep you, your family, and your cherished belongings safe.
Here are some easily overlooked weak points that most homes offer to criminals, and the effective tools that will deter them. Many of us believe that the lock on our door will be enough to keep a burglar out; if we feel that we need extra security we simply add more locks. What we do not consider is how easy conventional locks are to pick. By adding more you may slow the burglar down a bit, but not enough to deter them. The solution is to install an unpickable lock. Advancements in technology have essentially made keys obsolete; it’s time for you to get up to date with a fingerprint door lock.
These locks will only allow you and your family to unlock the doors which means no keys to lose and no locks to pick. Within your home you likely keep valuable such as jewelry, cash, and important documents. Protect your assets by keeping them safely secured in a safe. There are several models of safes on the market. The most advanced systems combine sturdy construction with fingerprint recognition access. When searching for a merchant that carries home protection equipment it is important that you seek one who is reputable and knowledgeable. A great place to look is at http://bljsselfdefense.com/home_protection.html. This company offers a wide variety of items, includingfingerprint locks and safes, and provides consumers with education on self defense. In addition to the online resourcesHealth Fitness Articles, BLJ's Enterprises supplies its customers with personal attention to help ensure that they develop a home protection strategy that is right for them.
http://www.articlesfactory.com/articles/family/home-protection-protecting-your-castle.html
Buying Your First Home - Watch Out!
If you are buying your first home, watch out! There are people who will help you get into all sorts of trouble.
If you are buying your first home, there are people who will help you get into all types of trouble. Well, mostly it is one type of trouble: financial. Here are some examples.
Watch Out For Real Estate Agents
You might think that real estate agents would love first-time home buyers, since they can influence them and make a sale more easily. In reality, though, many people are very hesitant to make a decision when they buy their first home. It will be the single biggest purchase they have made in their lives, after all, so they want to take their time and see a lot of houses. Meanwhile, the agent just wants a sale.
Don't be pushed to make a fast decision. It may be true that a particular house is "not going to last long," or it may just be something an agent says. Either way, their are other homes, and you need time to get a feel for what is available and at what prices. This education is crucial, and comes primarily from looking at a lot of homes.
The agent is not necessarily looking out for your best interest, by the way. Unless you hired him to represent you, he works for the seller and is even obligated to pass on any relevant comments you make, like "we can go higher on the offer if necessary." Keep quiet, and remember that the agent is a sales person, whose primary concern is to sell something.
Watch Out For Mortgage Lenders
When you are buying you first home, you are also buying your first mortgage loan. Lenders will be so helpful. For example, they will help you afford a loan that is too large by offering you a variable-rate loan with a low teaser rate. Of course they won't help the hundreds of thousands of families that are now facing foreclosure because those payments went up when the teaser rate period was over.
Variable rate, interest only, and even reverse-amortization loans (where you owe more each year) have all been "helpfully" pushed on first-time buyers who are trying to buy more than they can afford. You are told that buying a home is the best thing you can do. Sometimes this is true, but it never is if you can't hold onto that home. If you really can't afford a home, a smaller home with a smaller mortgage loan is better - and if you can't afford that, renting is actually the best thing you can do.
Look at the worst-case scenario when considering a loan. For example, if you are considering a variable rate loan, ask what the payment will be if interest rates go up 5% years later. Will you be able to comfortably afford that? The banker may helpfully point out that the rate is capped at a 2% rise per year, but that just means the day of reckoning is postponed a little. In three years you could be paying almost $6,000 more per year on that $200,000 loan.
Watch Out For Family And Friends
The best intentions of friends and family can get you into trouble. When you are buying your first home you will get advice. Sometimes it will be good advice. Other times it will be a friend trying to get you to move to his neighborhood - the one you can't afford. Family too can push you to buy before you are ready, or spend too much. They don't always know what is best for you, so do your own thinking, buy what YOU needFree Articles, and buy a home you can afford.
ABOUT THE AUTHOR
Copyright Steve Gillman. For a Free Real Estate Investing Course, visit: http://www.housesunderfiftythousand.com/
If you are buying your first home, there are people who will help you get into all types of trouble. Well, mostly it is one type of trouble: financial. Here are some examples.
Watch Out For Real Estate Agents
You might think that real estate agents would love first-time home buyers, since they can influence them and make a sale more easily. In reality, though, many people are very hesitant to make a decision when they buy their first home. It will be the single biggest purchase they have made in their lives, after all, so they want to take their time and see a lot of houses. Meanwhile, the agent just wants a sale.
Don't be pushed to make a fast decision. It may be true that a particular house is "not going to last long," or it may just be something an agent says. Either way, their are other homes, and you need time to get a feel for what is available and at what prices. This education is crucial, and comes primarily from looking at a lot of homes.
The agent is not necessarily looking out for your best interest, by the way. Unless you hired him to represent you, he works for the seller and is even obligated to pass on any relevant comments you make, like "we can go higher on the offer if necessary." Keep quiet, and remember that the agent is a sales person, whose primary concern is to sell something.
Watch Out For Mortgage Lenders
When you are buying you first home, you are also buying your first mortgage loan. Lenders will be so helpful. For example, they will help you afford a loan that is too large by offering you a variable-rate loan with a low teaser rate. Of course they won't help the hundreds of thousands of families that are now facing foreclosure because those payments went up when the teaser rate period was over.
Variable rate, interest only, and even reverse-amortization loans (where you owe more each year) have all been "helpfully" pushed on first-time buyers who are trying to buy more than they can afford. You are told that buying a home is the best thing you can do. Sometimes this is true, but it never is if you can't hold onto that home. If you really can't afford a home, a smaller home with a smaller mortgage loan is better - and if you can't afford that, renting is actually the best thing you can do.
Look at the worst-case scenario when considering a loan. For example, if you are considering a variable rate loan, ask what the payment will be if interest rates go up 5% years later. Will you be able to comfortably afford that? The banker may helpfully point out that the rate is capped at a 2% rise per year, but that just means the day of reckoning is postponed a little. In three years you could be paying almost $6,000 more per year on that $200,000 loan.
Watch Out For Family And Friends
The best intentions of friends and family can get you into trouble. When you are buying your first home you will get advice. Sometimes it will be good advice. Other times it will be a friend trying to get you to move to his neighborhood - the one you can't afford. Family too can push you to buy before you are ready, or spend too much. They don't always know what is best for you, so do your own thinking, buy what YOU needFree Articles, and buy a home you can afford.
ABOUT THE AUTHOR
Copyright Steve Gillman. For a Free Real Estate Investing Course, visit: http://www.housesunderfiftythousand.com/
Home Buying Grants - The Secrets Of Successful Applications!
Home buying grants are waiting... for those select few who know how to get them. This article provides any new grant seeker with solid foundations for securing the free grant money available for housing grants.
Owning a home in America today, instead of becoming a luxury it can actually become a reality, with the help of the home buying grants. If you are interested in saying “stop” to your monthly rent, then they might be the perfect solution for you. A grant is an excellent possibility that saves you a lot of stress and troubles. It can be the optimum solution for you, in case you do not have great sums of money at your disposal, to use and to invest as you please.
The first thing you are going to face when you want to apply for one of the home buying grants is the wide range of eligibility criteria. For sure, your financial status matters, as well as your occupation, family members, location and so on. But as long as you are informed well enough and as long as you opt for the programs that suit you best, you have all the chances to get the desired aid. The fact is that in the US today, you can find various lending programs that offer very low rates – and who doesn’t want that? So, in order to get the best offers, you should start your search with the help of the Internet. You can find various directories of home buying grants, offered by numerous organizations and banks. But when you do your search, make sure that you are only considering the ones that promote a serious and reputable image.
In addition to the above, you should know that the process implied by the home buying grants might take a lot of your time. In addition, you might need to wait for some months or even a year in order to obtain the money. Actually, this might be considered one of the main flaws of the home buying grants process. Still, as long as you keep contact with the provider, as long as you provide the requested information in time and as long as you collaborate optimally, thus offering all the details that are needed, you have all the chances to wait less and to get your grant sooner.
The home buying grants sound like an ideal solutions for all those who can not pay cash when purchasing a home. And that is why they appeal to so many people. Even more, the popularity of the home buying grants has increased in the past years, as a result of the real estate boom. Individuals are actually aware of the fact that we are dealing with a business opportunity here, and not just with a simple necessity. Nowadays, people are interested in buying more than one residence, since the real estate business has become the safest and the most profitable of all. And when you think about it, you can actually gain profit with the help of these home buying grants.
More and more individuals are interested in applying for home buying grants, this is a current fact. And if we think about it, these programs come with many advantages. Besides saving us the troubles of dealing with monthly rent, they can offer security, thus providing us the necessary funds for purchasing a house. And we all know that owning a home is an essential factor of our feeling of safety and well being. Considering all these factsArticle Search, it is no wonder that the popularity of the home buying grants is constantly increasing.
http://www.articlesfactory.com/articles/finance/home-buying-grants-the-secrets-of-successful-applications.html
Owning a home in America today, instead of becoming a luxury it can actually become a reality, with the help of the home buying grants. If you are interested in saying “stop” to your monthly rent, then they might be the perfect solution for you. A grant is an excellent possibility that saves you a lot of stress and troubles. It can be the optimum solution for you, in case you do not have great sums of money at your disposal, to use and to invest as you please.
The first thing you are going to face when you want to apply for one of the home buying grants is the wide range of eligibility criteria. For sure, your financial status matters, as well as your occupation, family members, location and so on. But as long as you are informed well enough and as long as you opt for the programs that suit you best, you have all the chances to get the desired aid. The fact is that in the US today, you can find various lending programs that offer very low rates – and who doesn’t want that? So, in order to get the best offers, you should start your search with the help of the Internet. You can find various directories of home buying grants, offered by numerous organizations and banks. But when you do your search, make sure that you are only considering the ones that promote a serious and reputable image.
In addition to the above, you should know that the process implied by the home buying grants might take a lot of your time. In addition, you might need to wait for some months or even a year in order to obtain the money. Actually, this might be considered one of the main flaws of the home buying grants process. Still, as long as you keep contact with the provider, as long as you provide the requested information in time and as long as you collaborate optimally, thus offering all the details that are needed, you have all the chances to wait less and to get your grant sooner.
The home buying grants sound like an ideal solutions for all those who can not pay cash when purchasing a home. And that is why they appeal to so many people. Even more, the popularity of the home buying grants has increased in the past years, as a result of the real estate boom. Individuals are actually aware of the fact that we are dealing with a business opportunity here, and not just with a simple necessity. Nowadays, people are interested in buying more than one residence, since the real estate business has become the safest and the most profitable of all. And when you think about it, you can actually gain profit with the help of these home buying grants.
More and more individuals are interested in applying for home buying grants, this is a current fact. And if we think about it, these programs come with many advantages. Besides saving us the troubles of dealing with monthly rent, they can offer security, thus providing us the necessary funds for purchasing a house. And we all know that owning a home is an essential factor of our feeling of safety and well being. Considering all these factsArticle Search, it is no wonder that the popularity of the home buying grants is constantly increasing.
http://www.articlesfactory.com/articles/finance/home-buying-grants-the-secrets-of-successful-applications.html
Buying & Renting a Holiday Home in the Sun
For those who think buying a holiday home, to rent, is an easy way to make a profit on your investment you should be aware that it isn’t as easy as it sounds. To start with, there are over 500,000 holiday home owners in the UK - and most of them rent out their property. You can expect high out goings, management commission and fees, insurance bills, and the usual household bills.
For anyone considering buying a holiday home, to rent, these six pieces of advice will be invaluable.
Location
Choosing a good location is vital,not only because you want a location which is popular with holidaymakers, but also one which is not overly competitive. Destinations like Florida and Spain have, over the years, become highly competitive with thousands of holiday villas available for rent. It is important that you look for facilities close to the home - restaurants, bars or shops, particularly since holidaymakers will be catering for themselves.
Type of accommodation
Think about your target customers. If you are targeting families, then buy a two or three bedroom holiday villa, near popular family attractions. If it is couples or small groups you are hoping to attract then look at buying a two bedroom apartment near shops, bars and restaurants, beaches, and golf courses. For smaller groups, or groups of adults “space” will be less of an issue.
Buying a one bedroom apartment will restrict you to couples, or two adults only. Huge five bedroom houses may sound good, but for short haul destinations like Spain, a three bedroom holiday home will suit most holidaymakers, and large houses may put people off renting your home.
Property Management
Employ a management company or be prepared for hard work. Managing a holiday home involves home repairs, passing keys to holidaymakers, changing linen when the holidaymaker departs, garden up-keep, plus dealing with emergencies such as visitors locked out. Bear in mind that most property management companies charge commission for getting holidaymakers to book your home, instead take the responsibility of promoting your holiday home on yourself.
Property features
Keep the property up to date. DVD’s and CD players are no longer luxuries. Competitiveness is a big issue for owners nowadays.. no matter where your holiday home is located, be it Portugal or Cyprus, you have to offer something a little unique from other owners, perhaps discounted tours, free car hire. These extras may cost you in the short term, but over the year it may raise the percentage of bookings that your bring in.
Insurance & Fire certificates
More importantly, fire regulations mean that extinguishers and flame-resistant furniture are a must. Contact local town halls to research if you need any fire certification or complete any legal procedures, before renting out your holiday home. You must get the right insurance cover and property management companies often insist on public liability insurance of £1m plus, costing between £200 and £500 a year.
Finances
Don’t listen to anyone who says they can guarantee you 52 weeks of bookings for your holiday home. Before you buy a holiday home you must look at how many weeks bookings you require to make ends meet. This is especially important if you want to make a profit from your initial investment. Keep your accounts and finances in order. Much of your costs will be spent on management fees, holiday home insurance, property repairsArticle Submission, decoration and essential travel to and from the house - some of these can be set against tax and offset against non-property tax bills.
ABOUT THE AUTHOR
32 yr old, Darren Cronian has worked in the Holiday industry for the past four years, and has gained valuable experience and knowledge from listening to experts within the travel industry. During this time he has slowly built up his online business 'Worldwide Holiday Homes' from a hobby website to a growing UK business based in Leeds, West Yorkshire.
For anyone considering buying a holiday home, to rent, these six pieces of advice will be invaluable.
Location
Choosing a good location is vital,not only because you want a location which is popular with holidaymakers, but also one which is not overly competitive. Destinations like Florida and Spain have, over the years, become highly competitive with thousands of holiday villas available for rent. It is important that you look for facilities close to the home - restaurants, bars or shops, particularly since holidaymakers will be catering for themselves.
Type of accommodation
Think about your target customers. If you are targeting families, then buy a two or three bedroom holiday villa, near popular family attractions. If it is couples or small groups you are hoping to attract then look at buying a two bedroom apartment near shops, bars and restaurants, beaches, and golf courses. For smaller groups, or groups of adults “space” will be less of an issue.
Buying a one bedroom apartment will restrict you to couples, or two adults only. Huge five bedroom houses may sound good, but for short haul destinations like Spain, a three bedroom holiday home will suit most holidaymakers, and large houses may put people off renting your home.
Property Management
Employ a management company or be prepared for hard work. Managing a holiday home involves home repairs, passing keys to holidaymakers, changing linen when the holidaymaker departs, garden up-keep, plus dealing with emergencies such as visitors locked out. Bear in mind that most property management companies charge commission for getting holidaymakers to book your home, instead take the responsibility of promoting your holiday home on yourself.
Property features
Keep the property up to date. DVD’s and CD players are no longer luxuries. Competitiveness is a big issue for owners nowadays.. no matter where your holiday home is located, be it Portugal or Cyprus, you have to offer something a little unique from other owners, perhaps discounted tours, free car hire. These extras may cost you in the short term, but over the year it may raise the percentage of bookings that your bring in.
Insurance & Fire certificates
More importantly, fire regulations mean that extinguishers and flame-resistant furniture are a must. Contact local town halls to research if you need any fire certification or complete any legal procedures, before renting out your holiday home. You must get the right insurance cover and property management companies often insist on public liability insurance of £1m plus, costing between £200 and £500 a year.
Finances
Don’t listen to anyone who says they can guarantee you 52 weeks of bookings for your holiday home. Before you buy a holiday home you must look at how many weeks bookings you require to make ends meet. This is especially important if you want to make a profit from your initial investment. Keep your accounts and finances in order. Much of your costs will be spent on management fees, holiday home insurance, property repairsArticle Submission, decoration and essential travel to and from the house - some of these can be set against tax and offset against non-property tax bills.
ABOUT THE AUTHOR
32 yr old, Darren Cronian has worked in the Holiday industry for the past four years, and has gained valuable experience and knowledge from listening to experts within the travel industry. During this time he has slowly built up his online business 'Worldwide Holiday Homes' from a hobby website to a growing UK business based in Leeds, West Yorkshire.
Real Estate 101: Consider This Before Buying Your New Home
More and more, people are deciding to buy land on which they will build their dream home. In this way, they are guaranteed that the home they buy meets all of their needs and wants as the home is built to their specifications.
More and more, people are deciding to buy land on which they will build their dream home. In this way, they are guaranteed that the home they buy meets all of their needs and wants as the home is built to their specifications.When looking to buy real estate on which you will build a home, however, there are still many things to consider. Similarly, it is still beneficial to enlist in the help of a real estate agent. With the help of a realtor, you can look at several different pieces of real estate in order to find the piece that is best for you. In addition to considering the way the land looks and how nicely your dream home will fit on this piece of real estate, there are other factors you should take into consideration as well. These include:• Checking on utilities• Looking into easements• Finding your boundaries• Considering road maintenance• Utilizing contingenciesIt is easy to fall in love with a piece of real estate and to want to buy it right away. In order to make sure you are making a wise investment, however, it is essential to consider each of these factors first.Checking on UtilitiesDepending on the location of the piece of real estate, certain utilities may be unavailable. Or, you might have to pay some very high fees in order to get the utilities ran to your new home. Before you buy the piece of real estate, make sure you are aware of its limitations and what you will need to do in order to get the utilities in place.Looking into EasementsAn easement is when someone has the right to use the land for some other purpose. This may be a private individual or a company. For example, if power lines are located next to the real estate you are looking to buy, the power company may have the right to access your land in order to maintain the power lines. Find out about any easements before you make an offer to buy a piece of real estate or insist that you be able to approve easements before you finalize the sale.Finding Your BoundariesMany banks will require that you have a boundary survey conducted before they will loan you the money to buy your land. If the bank does not require a survey to b conducted, it is a good idea for you to request one anyway. When you make an offer to buy a piece of land, it is usually a good idea to quote a certain price per acre as determined by the survey that is to be taken. Considering Road MaintenanceIf you are looking to buy real estate that is on a private road, you will need to consider how your road will be maintained. In many cases, the bank will require you to show a recorded agreement showing that you and any other property owners on the road will assist with the upkeep of the road. Utilizing ContingenciesThere are a number of factors that can cause the land to be unusable for you. For example, if the land does not have a sewer hookup, your decision to buy the real estate will be contingent upon whether or not you can get a permit for a septic system. Similarly, your house design will need to be approved by an architectural review committee. Therefore, whether or not you buy the real estate will also be contingent upon the design getting approval. By taking all of these factors into consideration and planning aheadComputer Technology Articles, you will be sure to get the home you have always dreamed of!
http://www.articlesfactory.com/articles/business/real-estate-101-consider-this-before-buying-your-new-home.html
More and more, people are deciding to buy land on which they will build their dream home. In this way, they are guaranteed that the home they buy meets all of their needs and wants as the home is built to their specifications.When looking to buy real estate on which you will build a home, however, there are still many things to consider. Similarly, it is still beneficial to enlist in the help of a real estate agent. With the help of a realtor, you can look at several different pieces of real estate in order to find the piece that is best for you. In addition to considering the way the land looks and how nicely your dream home will fit on this piece of real estate, there are other factors you should take into consideration as well. These include:• Checking on utilities• Looking into easements• Finding your boundaries• Considering road maintenance• Utilizing contingenciesIt is easy to fall in love with a piece of real estate and to want to buy it right away. In order to make sure you are making a wise investment, however, it is essential to consider each of these factors first.Checking on UtilitiesDepending on the location of the piece of real estate, certain utilities may be unavailable. Or, you might have to pay some very high fees in order to get the utilities ran to your new home. Before you buy the piece of real estate, make sure you are aware of its limitations and what you will need to do in order to get the utilities in place.Looking into EasementsAn easement is when someone has the right to use the land for some other purpose. This may be a private individual or a company. For example, if power lines are located next to the real estate you are looking to buy, the power company may have the right to access your land in order to maintain the power lines. Find out about any easements before you make an offer to buy a piece of real estate or insist that you be able to approve easements before you finalize the sale.Finding Your BoundariesMany banks will require that you have a boundary survey conducted before they will loan you the money to buy your land. If the bank does not require a survey to b conducted, it is a good idea for you to request one anyway. When you make an offer to buy a piece of land, it is usually a good idea to quote a certain price per acre as determined by the survey that is to be taken. Considering Road MaintenanceIf you are looking to buy real estate that is on a private road, you will need to consider how your road will be maintained. In many cases, the bank will require you to show a recorded agreement showing that you and any other property owners on the road will assist with the upkeep of the road. Utilizing ContingenciesThere are a number of factors that can cause the land to be unusable for you. For example, if the land does not have a sewer hookup, your decision to buy the real estate will be contingent upon whether or not you can get a permit for a septic system. Similarly, your house design will need to be approved by an architectural review committee. Therefore, whether or not you buy the real estate will also be contingent upon the design getting approval. By taking all of these factors into consideration and planning aheadComputer Technology Articles, you will be sure to get the home you have always dreamed of!
http://www.articlesfactory.com/articles/business/real-estate-101-consider-this-before-buying-your-new-home.html
Friday, October 12, 2007
Will The Real Home Buying Guide...Please Stand Up?
Use Google right now and do a search on, “Home Buying Guide”. Take a few minutes to check and see what's out there and then come right back...
Now, try "Home Buyer Guide" and check to see what's out there for that.
Overwhelming, isn’t it?
And that’s exactly the problem facing today’s prospective homebuyers; not knowing how to sort through all of the information that is offered to them when buying a home.
Do you know what the other problem is?
Ironic as it may sound, just as prospective homebuyers have too much information on topics such as: how to find a real estate agent, how to find a mortgage, how to fix your credit or how to get the lowest possible insurance, and on and on...they are faced with just the complete opposite when it comes to having information on the main focus of their quest - specific information on the house they want to buy.
In a survey conducted by Key Findings, it was found that "Prospective home buyers say they are unhappy with the information available to them. Some don’t think they are seeing all the homes available in their price rangeand complain about how difficult it is to find detailed information about the homes they are interested in buying."
If you're thinking about buying a home right now do you feel you're as informed as you could be about the house you may be interested in buying? If not, would you even know where to go to even begin to get it?
Do not despair because there is hope!
You would be surprised to learn that you can get alot of answers and information simply by observing and asking the right questions - and many of them. You also need to be sure you're asking the right person, to get the right answer.
A couple of sources of information include your local municipal Offices or County Courthouse, neighbors and yes, even the actual seller(s).
You also need to spend time investigating the neighborhood and, once you actually decide on a home you're interested in, spend as much time there as possible. Doing so will allow you to get the feel for the property and view things you may normally miss if you're just simply herded through the home.
Here is a brief list of some of the things you should be able to uncover with a little poking around:
* What work has been done to the home?
* What work needs to be done to the home?
* Is it a good neighborhood?
* How can you tell if it's a good neighborhood?
* Who can tell you the truth about the neighborhood?
* Is the house you're looking to purchase built on a former dump site?
* Is something going to be happening with all that vacant land next door?
* How long have the current owners owned the home?
* How much did they pay for the home when they bought it?
* Why are they selling now?
* Is the price they are asking for the home too high?
The key is: Don't be afraid to ask the questions you have and, for the questions you do have, make sure you're asking the right person and make sure they getanswered to your satisfaction BEFORE you make your purchase.
Become a real estate insider and don't be at the mercy of unreliable real estateagents or untruthful sellers. Discover just how easy it is to get all the informationyou need on the home you want to buy and not get stuck having to deal with those post-purchase nightmaresFeature Articles, as most uninformed homebuyers do.
http://www.articlesfactory.com/articles/advice/will-the-real-home-buying-guideplease-stand-up.html
Now, try "Home Buyer Guide" and check to see what's out there for that.
Overwhelming, isn’t it?
And that’s exactly the problem facing today’s prospective homebuyers; not knowing how to sort through all of the information that is offered to them when buying a home.
Do you know what the other problem is?
Ironic as it may sound, just as prospective homebuyers have too much information on topics such as: how to find a real estate agent, how to find a mortgage, how to fix your credit or how to get the lowest possible insurance, and on and on...they are faced with just the complete opposite when it comes to having information on the main focus of their quest - specific information on the house they want to buy.
In a survey conducted by Key Findings, it was found that "Prospective home buyers say they are unhappy with the information available to them. Some don’t think they are seeing all the homes available in their price rangeand complain about how difficult it is to find detailed information about the homes they are interested in buying."
If you're thinking about buying a home right now do you feel you're as informed as you could be about the house you may be interested in buying? If not, would you even know where to go to even begin to get it?
Do not despair because there is hope!
You would be surprised to learn that you can get alot of answers and information simply by observing and asking the right questions - and many of them. You also need to be sure you're asking the right person, to get the right answer.
A couple of sources of information include your local municipal Offices or County Courthouse, neighbors and yes, even the actual seller(s).
You also need to spend time investigating the neighborhood and, once you actually decide on a home you're interested in, spend as much time there as possible. Doing so will allow you to get the feel for the property and view things you may normally miss if you're just simply herded through the home.
Here is a brief list of some of the things you should be able to uncover with a little poking around:
* What work has been done to the home?
* What work needs to be done to the home?
* Is it a good neighborhood?
* How can you tell if it's a good neighborhood?
* Who can tell you the truth about the neighborhood?
* Is the house you're looking to purchase built on a former dump site?
* Is something going to be happening with all that vacant land next door?
* How long have the current owners owned the home?
* How much did they pay for the home when they bought it?
* Why are they selling now?
* Is the price they are asking for the home too high?
The key is: Don't be afraid to ask the questions you have and, for the questions you do have, make sure you're asking the right person and make sure they getanswered to your satisfaction BEFORE you make your purchase.
Become a real estate insider and don't be at the mercy of unreliable real estateagents or untruthful sellers. Discover just how easy it is to get all the informationyou need on the home you want to buy and not get stuck having to deal with those post-purchase nightmaresFeature Articles, as most uninformed homebuyers do.
http://www.articlesfactory.com/articles/advice/will-the-real-home-buying-guideplease-stand-up.html
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