Buying Your First Home Plr Ebook

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Table of Contents
Introduction – Looking Ahead ………………………..……………………….. 7
New Homes vs. Older Homes ………………………………………………… 8
Which Home to Choose…………………………………………………….… 8
Chapter 1 – Location, Location, Location ………………………………… 10
Finding the Right Neighborhood ………………………………………… 10
How Clean is This Neighbourhood? ….. 11
Is This a High Crime Area? ……………………………..…………. 11
What is The Average Home Value in The Neighbourhood? ……. 12
Are There Community Bylaws? ………………………..………….. 12
What is The Home Close To? ………………………..…………….. 12
Is There Garbage Pickup? …………………………..……………… 13
City Life vs. Country Living ………………………………………………… 13
City Life ………………………………………………………………… 14
Pros ………………………………………………………….. 14
Cons …………………………………………………………. 14
Country Living ……………………………………………………… 14
Pros ………………………………………………………….. 14
Cons …………………………………………………………. 15
Suburban Living …………………………………………………….. 15
Pros ………………………………………………………….. 15
Cons …………………………………………………………. 15
Making the Commute ………………………………………………………. 16
Schools In The Area ………………………………………………………… 17
Grocery Shopping And Other Necessities ……………………………….. 17
Other Location Consideration ……………….…………………………… 18
Chapter 2 – Working With Realtors …………………………………………. 20
Choosing A Realtor …………………………………………………………… 20
Experienced Agents vs. New Agents ………………………………. 22
Pushy Agents …………………………………….……………………. 23
Absentee Agents ………………………………………..…………….. 23
Hard Working Agents …………………………………..………….. 24
Preparing To See Homes With Your Realtor …………………………….. 25
Create A List ….……………………………………………………… 25
Viewing Homes …………………………………………………….. 26
Taking Pictures ……………………………………………………… 26
Narrowing Down Your Choices …………………………………….. 27
Information Realtors Should Tell You …………………………………… 28
Working With Seller’s And Buyer’s Agents ……………………………… 29
Negotiators with Sellers ……………………………..…………….. 30
Paperwork …………………………………………..……………… 30
Survey Neighbourhoods …………………………..……………….. 31
More Reasons To Hire a Real Estate Agent …………..…………………. 31
Definitive Guide To Buying Your First Home Page 3 of 90
Definitive Guide To Buying Your First Home
Peace Of Mind ……………………………………………………….. 31
Wealth Of Knowledge ……………………………………………….. 32
Confidence …………………………………………………………… 32
Chapter 3 – Playing The Housing Market …………………………………. 33
Watching The Housing Market ……………………………………………. 33
Making The Most Of The Housing Market ……………………………… 34
National Interest Rates For Mortgages ………………………….. 34
Building Rates In Your Area ……………………………………….. 35
Number Of Foreclosures In Your Area …………………………. 36
Stock Market And Gasoline Prices …………………..…………… 36
In The End …………………………………………………………………. 37
Buying VS. Renting (Pros/Cons) ………………………..……………….. 37
Buying A Home …………………………………………………… 38
Pros ………………………………………………………… 38
Cons ………………………………………………………… 38
Renting A Home …………………………………………………… 39
Pros …………………………………………..……………… 39
Cons ……………………………………………………………. 39
Rent To Own ……………………………………………………………….. 40
New Homes ………………………………………………………………… 41
Using The Housing Market To Your Advantage ……………………….. 42
Chapter 4 – Home Inspections ……………………………………………… 44
The Importance Of Home Inspections …………………………………… 44
How To Find A Home Inspector ………………………….……………… 45
What To Expect From A Home Inspection ……………………………… 47
Specific Places That Should Be Inspected ……………………………… 48
Chimney/Fireplace ………………………………………………… 49
Attic/Basement/Crawl Space …………………..………………… 49
Swimming Pools …………………………………………………… 49
Smoke Detectors And Appliances …………………..…………… 50
Termite Inspection ………………………………………………………… 50
How Homeowners Will React ……………………………..…………….. 51
Ways A Home Inspection Can Lower The Final Price …………………. 52
The Final Walkthrough ………………………………..………………….. 54
The Closing ………………………………………………………………… 55
When To Walk Away ……………………………………………………… 56
Chapter 5 – Financing Your First Home …….…………….……………… 58
Types Of Home Loans ………………………………………………………. 58
Fixed Rate Mortgage Loans ……………………….……………… 59
Adjustable Rate Mortgage Loans …………………..…………….. 59
Balloon Mortgages ………………………………………………… 60
Jumbo Loans ………………………………………………………. 60
Where To Find A Lender ………………………………………………….. 61
Applying For A Home Loan …………………………………..………….. 62
What Not To Do When Applying For A Home Loan …………………… 64
Increase Your Chances For Approval …………………………………… 65
How Home Appraisal Can Affect Your Home Loan …………..………. 66
Homeowner Reduces Selling Price ……………………………… 66
Higher Down Payment ……………………………….…………… 66
Dispute The Appraisal ……………………………………………….. 67
Find Another Lender …………………………………….……….. 67
How Home Inspections Can Affect Your Home Loan ………..……….. 68
Additional Fees For Home Loans ……………………………………….. 68
Good Faith Estimates ………………………………………..……………. 69
Escrow And Other Loans Terms ………………………………………… 70
Chapter 6 – Making A Realistic Offer ……………………..……………… 73
What To Do Before Making An Offer …………………………………….. 73
Attend Open Houses ………………………………..…………….. 73
Find Out More About A Property ……………………………….. 74
Find Out More About Taxes In The Area ……………………….. 74
Have An Appraisal Done Before Making An Offer …………….. 75
How To Write A Purchase Offer ……………………….………………… 75
Making An Offer ………………………………………..………………… 76
Low/High Offers ………………………………………..………………… 77
Low Offers …………………………………………………………. 77
High Offers ………………………………………………………… 77
Making The Right Offer ………………………………..………………… 78
How To Handle A Counter Offer And Offer Rejection ……..………… 78
Counter Offer ……………………………………………………… 78
Dealing With Rejection ……………………..……………………. 79
Considering Items In The Home ………………………………………… 80
Understanding The Seller ……………………………………………….. 81
What To Do In A Buyer’s Market …………….…………………………. 82
What To Do In A Sellers Market …………….………………… 83
Home Warranties, And The Closing ……..…. 85
Contracts …………………………………………………………………… 85
Contingencies ……………………………………………………… 86
Builder Contracts ………………………………………………….. 87
Mortgage Contracts ………………………………………….……… 87
Closing Agreements ……………………………………………….. 87
Home Warranties ………………………………………………………….. 88
Closing …………………………………………………..………………….. 88
Sign Contracts ……………………………………………………… 89
Final Walk Through ………………………………………………. 89
Paying Closing Costs ……………………………………………… 89
Get Your Keys ……………………..………………………………. 90
Conclusion ……………………………………………………………………… 91
Recommended Resources ……………………..…………………………… 92

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Introduction

If you are currently living in an apartment or renting a house, you may be thinking about buying a home of your own for yourself and your family. This can be an exciting time. Looking at properties, deciding whether to buy a home or build a new one, and finding financing will take up a lot of your time. There will be a long list of things you will need to do before you buy a home. This list includes:

Finding the right neighborhood
Finding a home that is big enough
Finding the features you are looking for
Choosing the right size yard
Choosing a realtor
Understanding the housing market
The ins and outs of home inspection
Financing
Making an offer, and
Reading contracts

This list does not include all of the decorating, home improvement, and other decisions you will have to make once you have purchased the home. If you are a first time home buyer, you will be nervous about finding the right home, investing money on a down payment, and being approved for financing.Once you have found a home, it will usually take between two or three months before you will be able to move in. In the meantime, you should plan the following:

Moving arrangements
Home inspections

Other Details

– 25 Articles (TXT)
– 1 Ebook (PDF, DOC), 90 Pages
– 4 Part Autoresponder Email Messages (TXT)
– 4 Graphics (PSD, JPG)
– 1 Turnkey Website (PSD, JPG) (PHP)
– 4 Salespages (HTML)
– Keywords List (TXT)
– Year Released/Circulated: 2007
– File Size: 22,843 KB

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