New Homebuyer Adive please.

[dasailr03]

Fam

I'm in the market to buy a house. Should I go with a realtor or work with the lender? I'm looking to buy a new unit in a nice development. What are the pros & cons of house buying using a realtor vs handling the sale between myself and the seller?

 

[deputy dawg]

with so much to learn, USE A REALTOR!

 

[Z MONSTER]

Get a realtor, avoid areas with homeowner associations, less trees on property the better, finance through a credit union

 

[SugahKaine]

Definitely go through a realtor; but my suggestion would be to start with a lender to get pre-approved, so you know your buying options and limits.

 

[flx2000]

• All the above, plus take a free homebuyers class, there's a lot you could learn from the class.
• lot's of people buy way more home than they can afford
• what you pay for your house and what you agreed to pay in the beginning will not stay that way.
• Taxes go up, home owner association fees goes up sometimes
• those two alone has cost people to lose their home.
• also electric bills and and home owners insurance.
  
  
• if you don't put down a large enough downpayment, you will pay mortgage insurance (PMI)
• if you're buying from a builder, a real estate agent is not required but it does not hurt since they get paid from the seller.
• get the house inspected
• do a final walkthrough before closing (same day)
• buying a home without a HOA has its benefits and its pitfalls
• benefits: no fees and rules
• pitfall: due to no rules, neighbors can do what they like and as a result, may bring your property value down.
• think abandoned cars, grass not cut (curb appeal) broken down cars in the driveway, running a repair shop out of the garage, etc
  
  
• when you get pre-approved, they look at your credit, you have 20 days from the time the first lender does a credit inquiry to get as much loan inquiries you can, after the 20 days, any inquires will hit your score again.
  
  
• you can get good deals from financing with the builder, sometime better rates as well
• they will sell your account though, usually after 6 months to a year, sometimes longer, but they will sell it.

 

[Helico-pterFunk]

• All the above, plus take a free homebuyers class, there's a lot you could learn from the class.
• lot's of people buy way more home than they can afford
• what you pay for your house and what you agreed to pay in the beginning will not stay that way.
• Taxes go up, home owner association fees goes up sometimes
• those two alone has cost people to lose their home.
• also electric bills and and home owners insurance.
  
  
• if you don't put down a large enough downpayment, you will pay mortgage insurance (PMI)
• if you're buying from a builder, a real estate agent is not required but it does not hurt since they get paid from the seller.
• get the house inspected
• do a final walkthrough before closing (same day)
• buying a home without a HOA has its benefits and its pitfalls
• benefits: no fees and rules
• pitfall: due to no rules, neighbors can do what they like and as a result, may bring your property value down.
• think abandoned cars, grass not cut (curb appeal) broken down cars in the driveway, running a repair shop out of the garage, etc
  
  
• when you get pre-approved, they look at your credit, you have 20 days from the time the first lender does a credit inquiry to get as much loan inquiries you can, after the 20 days, any inquires will hit your score again.
  
  
• you can get good deals from financing with the builder, sometime better rates as well
• they will sell your account though, usually after 6 months to a year, sometimes longer, but they will sell it.

 

[Helico-pterFunk]

Fam

I'm in the market to buy a house. Should I go with a realtor or work with the lender? I'm looking to buy a new unit in a nice development. What are the pros & cons of house buying using a realtor vs handling the sale between myself and the seller?

Any updates in recent months?

 

[macker007]

Make sure yo get Credit life (CL), this insures the house will be paid off in the case 1. if your married and one of you pass, the house will be paid in full, the CL trick, in Texas their is a law where they're not required to send you that CL documentation. Ask your realtor, they might tell you and if they don't you ask for it. Don't get got like me and end up paying for the purchase price.