Interesting article… Does it pay to have a more experienced agent?
Renting a home has become a detailed process for many people. Potential tenants are finding out that there are steps to complete before they will be allowed to move into their home. When a potential tenant finds a place to live there is an initial walk through that takes place. The landlord and tenant will go through the home detailing out any damages that exist. When a tenant decides that a rental is right for them there is usually a lease that must be signed. A lease spells out what each party will and will not do. A lease also guarantees a time frame that the home will be lived in. Most landlords are also asking for a damage deposit to be paid with the first month rent.
Buying a home is also a detailed process. Buyers look through the market on a regular basis looking for the perfect home. Once they find the perfect home they make an offer to the seller. The seller can then accept or reject the offer. Upon accepting the offer both parties sign a purchase agreement which starts the 30 day inspection period. During the next 30 days various inspections are performed on the house to make sure that it is safe and reliable. If nothing is found, the realtor will meet with the buyer and the seller to obtain signatures to finalize the transaction. After the closing has taken place then the keys are given to the buyer and seller is no longer responsible for the property.
Great lessons from CNNMoney about buying a home in today’s economy.
Great video series here. These will certainly help homebuyers navigate the complex landscape of today’s purchasing environment.
HUD and Realtors Team Up to Create Home Buying Video Guide
The Department of Housing and
Urban Development (HUD) and the National Association of Realtors® (NAR) have joined forces to produce a series of YouTube videos aimed at helping consumers
understand and negotiate the home buying process.
The videos, previewed before an
audience at the NAR convention in New Orleans, cover three aspects of home buying;
shopping for the house, shopping for the loan, and closing the deal. The first title will help viewers decide how
much home they can afford and instructs viewers on how to work with a real estate agent and what
happens once a house is identified. Viewers are also advised about the
availability of housing counselors to assist them with credit issues, and
The Shopping for your Loan video is designed to help consumers use the
good faith estimate (GFE) to shop for the best loan. Consumers will learn how to use the GFE to
determine how long an interest rate is available for a particular loan and how
to identify key loan terms and costs of a particular loan offer.
To view HUD’s new homebuyer
education videos, visit HUD’s YouTube channel at www.youtube.com/HUDchannel.