If you are thinking about buying your first home you are likely feeling overwhelmed with questions you need answered. Just as with any experience, the first time to embark into the real estate market can be quite scary. We have the answers to the most common first time buyer questions that will make your first buy an exciting and memorable experience.
How Do I Get the Money for My First Home?
This is by far ขายบ้าน the most commonly asked question by first time buyers and the answer is simple, by choosing the right mortgage option for you. The way home buying works is you are going to need a pretty decent chunk of money (5%-30% of the sale price) for the down payment. The bank will then lend you the rest of the money to pay for the home and you will then begin your mortgage payments to pay back this money lent. As you can see it is really the down payment first time buyers have to worry about so before you even begin looking for homes it is a great idea to calculate what your absolute highest purchase price would be. This helps minimize looking at homes you can't afford. Start saving for that down payment!
Do I Need a Real Estate Lawyer?
The answer to this question is yes. Although you are not the seller you will need a lawyer to investigate the property to ensure there are no outstanding liens on it. AS well they will transfer the deed into your name and prepare all the necessary legal documents to make sure the sale is legal and of course in your favor. In some cases if you do not have a real estate lawyer the buyer and the seller can use the same firm, not the same lawyer. When the entire process goes through the same firm it can be much quicker and sufficient.
Can I ask the Seller to Lower their Asking Price?
If you have never purchased real estate before this is a valid question and the answer is of course! The entire real estate market is based not on asking prices but on actual sale prices which in some cases can vary considerably. Of course there is a fine line between negotiating with the seller and downright insulting them with ridiculous numbers that make no sense. Generally the seller posts their asking price assuming it will be $10-$20K less when the sale is complete.
Do I Need an Inspection?
This is an incredibly important step first time buyers and even frequent buyers can't ignore. By hiring a professional home inspector you are sure to find out if there are any structural, electrical, plumbing or otherwise issues with the home. It is important to place this as a clause in your offer stating you will only go through with the purchase provided you are happy with the outcome of the home inspection. This saves you from being trapped in a sale and later finding out the foundation is crumbling or the electrical needs to be updated to code.
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