Buying real estate is a complex matter and can be especially confusing for the first-time homebuyer. Do yourself a favor and learn as much about the process as you can before you begin. There are plenty of resources on the Internet, and most real estate offices will have pamphlets to explain things in plain language. You may also be able to research the real estate process by attending community-sponsored classes, or you can take a look at books like Home Buying For Dummies by Eric Tyson and Ray Brown, (IDG Books Worldwide, Inc.)
Generally, selling your home is a three-step process: Getting the house ready, showing it off and responding to the marketplace. Working with a Realtor ensure that you can list your home at fair value on the market, create a marketing plan to draw buyers to view your home and understand improvements that could make your home more marketable. In a down market, selling a home will requires a little extra work. Do everything you can to get the home in excellent shape and be prepared to make some small concessions at closing.
When you invest in real estate, your goal is to put money to work today and make it grow so you have more money in the future. You have to make enough profit, or “return”, to cover the risk you take, taxes you pay, and the costs of owning the real estate investment such as utilities and insurance. In other words, once you understand the basics of the game, real estate investing really can be as conceptually simple as playing monopoly. Your goal is to buy properties, avoid bankruptcy, and generate rent so that you can buy even more properties. But “simple” doesn’t mean “easy”. If you make a mistake, you could find yourself broke or worse.
There are funding available to assist a first time home buyer with down payment and or closing costs assistance towards a home purchase. In qualifying for a First Time Home Buyer program, 1. Must not have own a home in the last three years. 2. Be employed and provide last two or three years of taxRead More
1. Learn the search process. Many luxury homes go unlisted to protect a seller’s privacy. These properties are often found through the Realtor’s personal connections as opposed to the MLS. Check out other online sources. View virtual tour if available 2. Go beyond the photos. Check the vicinity of the area. See if you canRead More