We've all heard about the benefits of home ownership and investment, and for the right person, buying a home can be a dream come true. But that doesn't mean the time is right for every would-be homeowner. If you're seriously thinking about buying, keep reading. You may find you're readier than you thought -- or you may decide to wait a bit.
Homebuyers are bombarded with all sorts of marketing lingo. Often, sellers and their agents use artfully crafted phrases to catch your eye, lure you into the home, and perhaps deflect attention from the true nature of the property. When searching for a home, you might save yourself some unnecessary trips or disappointments if you learn to cut through the marketing language and see the home for what it really is.
A home inspection, in which one or more professionals check out the physical condition of the house you hope to buy, is an important part of the home-buying process and should be a condition of closing the sale.
The majority of homebuyers get their loans through a mortgage broker—a professional who’s in the business of compiling and filtering through the options for you. A mortgage broker acts as your agent to “shop lenders” for the best possible loan terms, given your financial situation and goals.
It's no secret that real estate agents earn high commissions (paid by the seller, but the cost may be indirectly passed on to you). And real estate lawyers charge exorbitant hourly rates. This raises the question -- do you really need a real estate agent or attorney to help you buy a home?
In some states, real estate attorneys are a regular part of the homebuying process. Even in states where this isn’t the case, however, a complex transaction may need an attorney’s assistance. After all, if you don’t use an attorney and the transaction later goes awry, you’ll still have to hire