A Beginner's Guide to Buy a House

Written by Andrew L

Continued from page 1

Make an offer

Once you have found a home that meets your needs, it is time to make an offer onrepparttar property. You will already knowrepparttar 149100 most you can spend fromrepparttar 149101 pre-approval process, and you probably will have your own ideas on whatrepparttar 149102 property is actually worth. In addition, your real estate agent can guide you throughrepparttar 149103 negotiation process and offer procedures. A copy of your pre-approval letter will be presented as part ofrepparttar 149104 written offer. This will ensurerepparttar 149105 seller that your offer is legitimate.

Negotiation process

Ifrepparttar 149106 seller accepts your first offer, congratulations. Your negotiations are over and you're ready to start preparing for your move. More likely, however, is thatrepparttar 149107 seller will come back with a counter-offer. This negotiation process can go on for a short or long amount of time, depending on factors likerepparttar 149108 motivation ofrepparttar 149109 seller,repparttar 149110 local real estate market, and a host of other factors. The real estate agent will be a good guide throughrepparttar 149111 negotiation process. After all, he or she will have been through this process many times before.

Provide copy of Purchase and Sale Agreement to mortgage broker

Afterrepparttar 149112 negotiation process has been completed, you will need to present your mortgage broker with a copy ofrepparttar 149113 Purchase and Sale Agreement forrepparttar 149114 home.

Work to closerepparttar 149115 mortgage loan

After presentingrepparttar 149116 Purchase and Sales Agreement, you will need to work withrepparttar 149117 mortgage broker to ensure you meet allrepparttar 149118 conditions required forrepparttar 149119 closing ofrepparttar 149120 mortgage loan.

Home inspection prior closing

Prior to closing, you will want to make sure to have a thorough home inspection performed by a qualified and certified home inspector. A home inspection will protect you from flaws inrepparttar 149121 construction and condition ofrepparttar 149122 home that are not obvious torepparttar 149123 naked eye. Home inspections can uncover things like foundation cracks, termite infestation and other home quality issues.

Hand over down payment

Afterrepparttar 149124 home inspection has been performed andrepparttar 149125 report has come back clean (or allrepparttar 149126 items uncovered have been repaired), it is time forrepparttar 149127 buyer to actually hand overrepparttar 149128 money forrepparttar 149129 down payment and signrepparttar 149130 loan documents.

Collectrepparttar 149131 house key

Afterrepparttar 149132 closing ofrepparttar 149133 loan,repparttar 149134 fun part of home buying begins. Your real estate agent will hand overrepparttar 149135 keys to your new home and you can actually move in and enjoy your beautiful new home. Welcome to moving day!

Andrew is the web owner of "Buy a house and sell house fast Guide", a website that provides informational guide on home buying, selling house, home mortgage loan, foreclosure home, real estate investment, and more.

Which Type Of Real Estate To Invest In

Written by Steve Gillman

Continued from page 1

6. Buy land, split it and sell it. Advantages: It is simpler than most real estate investments, withrepparttar possibility of great profits. Disadvantages: It can take a long time, and you have expenses, but no cash flow while you wait.

7. Boarding houses. Advantages: You can get a lot more cash flow renting a house byrepparttar 149099 room, especially in a college town. Disadvantages: You can get a lot more headaches renting a house byrepparttar 149100 room, especially in a college town.

8. Commercial real estate. Advantages: Long term triple-net leases mean little management and high returns. Disadvantages: Tough market to break into, and you can lose income on vacant storefronts for a year at a time.

9. Buy, live in it, and sell. Advantages: The new tax law means you can fix it up, and sell for a big tax-free profit after two years, then startrepparttar 149101 process again. Disadvantages: You have to move a lot.

10. Speculation. Advantages: Buying inrepparttar 149102 path of growth and holding until values rise can yield large profits, especially if you buy low to start. Disadvantages: Prices aren't that predictable, you have expenses with no income while you're waiting, and transaction costs can eat much ofrepparttar 149103 profits.

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

    <Back to Page 1
ImproveHomeLife.com © 2005
Terms of Use