How To Buy Your First Home According To A Real Estate Broker


29 Replies to “How To Buy Your First Home According To A Real Estate Broker

  1. Is it just me or the people who put “ every like I will Add a panda or flower or something never come through “

  2. This is really easy,most people make sure all these facts before buying a house because they are settling in and houses are expensive and if you want tot change again then the process is awfully long but still loved these tips from a professional

  3. Ok, I am currently a first time homebuyer who has found their home and just needs to close on the house so I have some additional tips:

    1. DO NOT USE ZILLOW: Just because they give you an agent does not mean that agent is licenced. They connected me with a guy who said he was a realtor even though I told them I already had a realtor and was just trying to get in contact with the seller's realtor. Turns out he's not even authorized to sell a home and his wife is.

    2. Don't skimp on the home inspector: If they don't find something wrong and you didn't get a home warranty, you could be screwed after you moved in. Example: frozen pipes burst after you move in because the inspector didn't notice the spigots were never turned off.

  4. Yes, let’s encourage people to get more credit cards so they can be further into debt. 🙄 you don’t even need a credit score to buy a home

  5. That information about foreclosure was helpful! I always thought about thinking missing or destroyed… but I never thought about taxes and leans and whatnot

  6. Licensed Real Estate Agent here. If you’re interested in a multi-family (2-4 family), there’s a little bit more info out there. Buying anything larger than a 4 family is considered an investment property so I will no go into that.

    Buying a 2 family is more or less the same as buying a single family, but the income generated from the unit you don’t live in will be budgeted into your pre-approval. This means you will qualify for more on a multi family than you will for a single.

    When buying a 3-4 unit property, your loan will require you to have cash reserves (anywhere from 3-12 months) that will cover your mortgage in the event that the units are empty and not generating income.

    Also, it’s important to note that the down payment is not the only thing you’re paying for when buying a house. You will pay for your inspection and appraisal. The mortgage company charges fees and so does your real estate attorney. You can negotiate with the seller for closing fees but be prepared for those costs just in case.

    Also you can purchase a house with a credit score of 580, but your rate will not be very good. Don’t be discouraged with a 650 score. You can absolutely purchase with good credit. The higher the better.

    I’m licensed in Massachusetts if anyone has any specific questions about and would like to reach out! ALWAYS important to do your own research in finding the right mortgage company, agent, inspector and attorney. This is a big investment so take your time!

  7. Thank you! I already had plans to buy my first home in the next couple months and I can use all the advise I can get!

  8. Another greedy Real Estate broker giving your false information. NO, banks do NOT want you to have at least 3 credit cards to be used. If anything they do NOT want you to have any, and NO you do NOT have to have a score of 700!!!

  9. Contact hacker Zhang Wei on his WhatsApp +13477098322 and thank me later…. he helped me increase my credit score about 600 points higher once every 2weeks and also made a legit transfer of $68500 directly to my account… I guess you all know what I can afford with that… tell him Mike referred you, I’m so grateful to you Mr Zhang… now I’m all set to get my new home.

  10. If you are military or a vet use the benefits you earned. There is no PMI. This is what I did on behalf of my husband:
    1. Did research for state assistance to help pay for closing.
    2.Applied for a homeloan.
    3.look for Realtors (made so many mistakes during this process. I picked 2 inexperienced Realtors regarding VA loans. I wasted my time. Thank God the last Realtor was a jerk & a liar. We would have not found the Realtor we have now.)
    4.take a buyers education class.
    5. Read every possible info regarding the VA home appraisal process. This will help eliminate homes that will not pass va loan standards and help you save money in the long run.
    6. Take meticulous notes on what to look out for when viewing homes. Make a checklist, will be helpful when you start shopping for a home.
    7.when viewing a Home take meticulous notes & check off your check list. This will be helpful when you make an offer.
    8. Make sure to give that check list and notes to your realtor when it is time to make an offer.
    9.when making an offer do not exceed the pre-approval amount you will regret it in the end. That's it for now for me because I am still in the waiting for the seller to accept our offer.

  11. I actually know people who did their research before they bought foreclosed houses… They had all their Ducks lined up in a row with the right contractors and home inspectors they would use after they bought their homes… And they did take out a loan for the total amount ….. What works for them, is that they have no mortgage, only a loan payment, and it's a fraction of what it cost for a 30-year mortgage, let alone a 15… And the rate was low enough that it was less than what you would pay for an average mortgage nowadays…… that's the route I'm going to be taking… Because I'll be damned if I'm going to be paying a mortgage by the time I'm 70… Screw that!

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