Buying

First time home buyers should always shop around. Read the loan papers carefully for a list of all conditions that must be met before the home closing. Don't wait for the last moment. Conditions by the lender may require a home inspection, termite inspection, required insurance polices, survey, etc. These requirements are meant for the lender's protection and may lead to untimely delays if they are not...

Property Valuation is the process of estimating the value of real estate property is done by various methods as illustrated below. 1: Comparable property method: The average value of rate per unit area at which similar properties in the neighborhood were sold at is multiplied by the actual area of the current property. Adjustments to the calculated value are made to account for specific defects or...

The ratio affects your buying power... Your debt to income ratio is a simple way of showing what percentage of your income is available for a mortgage payment after all other continuing obligations are met. The ratio is one of the many things a lender considers before approving your home loan. A qualifying ratio of 28% is indicates the maximum percentage of your monthly gross income that the lender allows...

Once you find the home you want to buy, the next step is to write an offer, one which is not as easy as it sounds. Your offer is the first step toward negotiating a sales contract with the seller. Since this is just the beginning of negotiations, you should put yourself in the seller's shoes and imagine his or her reaction to everything you include. Your goal is to get what you want, and imagining the...