first time home buyer – owner loan

December 13, 2010

Montgomery County Maryland First Time Home Buyer Information

Filed under: Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 1:25 pm
Delia Galley asked:




Montgomery county is one of the most affluent counties in the country. The schools systems are highly rated and its location offers a convenient gateway to Washington D.C. and Virginia jobs.

If you are a first time home buyer interested in purchasing a home in Montgomery county, the first thing you need to do, is arm yourself with information. You need to learn about the types of homeownership programs that are available through the State of Maryland and Montgomery County?

Questions to ask before you start the home searching process

Are you ready to purchase your own home?

Being ready to buy a house is more than house hunting. Homeownership offers considerable advantages over renting. On average, a homeowner will see their home appreciate in value about 6% yearly over the long term. To answer this question honestly, you need to analyze your current financial situation to ensure that you can take on the financial responsibilities of homeownership. Can you pay the mortgage, insurance and taxes? Will you have money saved in a rainy day fund for home repairs and other maintenance needs?

Information, Information, Information

Attend a local home buyer seminar. Find a reputable organization in your local community that offers home buyer seminars at no cost. You should not have to pay for this service. The seminar should provide information about the local real estate market and financing information. In addition, you should be able to ask any questions that you may have.

Pre-qualifying for a mortgage loan

Before you house hunt, pre-qualify for a mortgage loan. Most sellers will not accept an offer on a house without a pre-qualification letter. The pre-qualification letter provides evidence to the seller that you stand a strong chance of qualifying for a mortgage loan. The seller will weigh your pre-qualification letter against other potential buyer letters and decide which offer to accept.

Herbert

September 3, 2010

First Time Home Buyer Guide to Real Estate

Filed under: Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 11:59 pm
Eric Bramlett asked:




Buying your first home is an occasion which marks a very special passage in your life. You are about to go from being a renter to being a home owner which, in a sense, means that you’re going to be “all grown up”. But when you start going through the process of first time home buying, you might quickly find that the last thing you feel like is a grown-up. There are just so many things to consider that you can easily begin to feel overwhelmed. Take a deep breath and relax. You’re going to get through this and buy your first home.

Here are the basics of the first time home buyer guide to real estate which is all you need to know to get started with the process:

o Know yourself. The first step to buying a home is knowing what kind of home you want to buy. Believe it or not, many people go looking to buy their first home without really stopping to assess what’s important to them in a home. You should really take the time to figure out everything that you want in a home, including which characteristics are non-negotiable and which you can be flexible about. Ask yourself about everything from neighborhoods and number of bedrooms to age of the home and material of the construction. By narrowing this criteria down before you start looking into buying your first home, you’ll save yourself quite a bit of time and hassle.

o Find a realtor. Although it’s possible to buy a home without the assistance of a professional, it’s a lot easier if you work with someone who knows all about the process. Do your research into local real estate agents and find one who has the knowledge and experience to assist you in buying your first home. When interviewing realtors, ask them specifically about their experience in working with first time home buyers.

o Learn the terminology. Your realtor will be able to explain everything to you as the process goes on, but things will go a lot more smoothly if you know right away what he or she is talking about. You don’t need to know what every single thing in a contract means, but you should learn the basic terminology of the real estate process. Learn about “the closing” and “escrow” and “mortgage”. A basic book about real estate or a website defining common real estate terms can do wonders for making you an informed buyer.

o Know the market. At times, it’s a buyer’s market and at times, it’s a seller’s market. Of course, you want to buy when the market is right for you, so start keeping an eye on the market in the months leading up to buying your first home. Don’t buy until the time is right.

o Don’t be afraid to negotiate. Some people find the process of bargaining to be a natural thing but many others hesitate to negotiate. Buying your first home is an exercise in the art of negotiation. Let your real estate agent help you with this part of the process but don’t be afraid of doing it. You should get the home at the right price.

o Make sure that you’re in your budget and get a good home loan. When you were first narrowing down what you wanted in your home, you probably considered cost. Before making the final purchase, make sure that the home is within your budget. And then make sure that you can get a good loan that will allow you to pay the mortgage on your home without excessive stress in your life. The new home may be ideal but if you’re going to have to move out in a year because you can’t actually afford it, then it’s not the right place for your first home.

There are many steps that take place when you’re first buying a home, from finding the home to closing the deal. However, the basics are all the same. By knowing what you want, keeping within those limits and working with professionals who can assist you throughout the process, you’ll be able to buy your first home with relative ease. Before you know it, you’ll feel all grown up.

Debra

May 9, 2009

Should I Sell my Home to a Professional Home Buyer? -We Buy Houses Fast in Charleston South Carolina

Filed under: Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 7:02 pm
Charleston Home Buyers, LLC asked:


Due to the current down market, more and more people are looking for alternate, non-traditional ways to sell their home. The days of sticking a FSBO (For Sale By Owner) sign in the yard or simply listing it with the realtor that your friend at work used, just isn’t having much effect these days. Depending on your selling situation, selling your home to a professional home buyer can be the right selling decision. As with other home selling options, selling your home to a real estate investor has benefits.

Working with an experienced investor can really simplify and expedite the process. Some of the great benefits of selling your house to a professional property buyer are: you are able to sell your house fast, “as is” on the date or your choice, you do not have to pay large real estate commissions to a Realtor, you do not have to spend your time, energy and money updating and making repairs and you only have to have one showing. There are many other benefits that an honest, experienced and well trained Charleston real estate investor can provide, such as knowing exactly how to handle problem properties or situations where Low Country folks are taking the brunt of the current economy on the chin and are facing many of the more and more common financial problems like foreclosure that need short sales in order to sell their over leveraged home and avoid foreclosure.

I would recommend selling your house to a local real estate investor if you are in any of the following selling situations:

I am behind on monthly mortgage payments I need to sell my home fast I am moving out of state or out of my local area and can’t afford two mortgage payments I have been transferred by my job I am going through a Divorce and need to sell my house My home is 100% financed and I do not have enough equity to list my home with a Realtor I need to Stop Foreclosure and avoid ruining my credit I am currently in Bankruptcy Someone in our family has health problems and can not work, therefore we can not pay our bills I am tired of being a Landlord and do not want to deal with tenants anymore My home needs lots of repairs and I do not have the time or money to fix it up My home is in pre-forclosure I want to cash out of my investment property My home has been on the market with a realtor for many months and my listing agreement is now expired, I want to sell my house fast, now We recently inherited a property and want to sell it quickly and want someone familiar with an estate sale and the probate process I own my house free and clear and am willing to wait for the market to turn around but would consider taking payments for my equity if I can get my asking price now



As you can see there are many reasons why you should consider selling your home to a local home buyer, and these are not all of them. Simply put, listing your home with a Realtor or trying to sell your home FSBO cost you money and time, it also does not get you offers within just a few hours/days. If you do not have time, do not have money, or simply do not want to deal with the hassles of selling your home, then sell it to a real estate investor. You may be happily surprised by the offer you get.

Before calling some random number on the side of the road off one of those “We Buy Houses” signs, it is important to make sure you know who you are dealing with. Unfortunately, there are a few unethical investors, like in any business, and currently the real estate market is a prime target. Thanks to the Internet it is relatively easy to locate information about a legItimate business. South Carolina business owners are required to register with the South Carolina Secretary of State and you can see if they the business you are calling has bypassed even that basic requirement. The Attorney General’s office handles consumer complaints, as does the Better Business Bureau. Realtors and brokers are licensed through the Real Estate Commission. These agencies can help to ensure you are working with a licensed, legitimate, complaint-free business or real estate investor.

Charleston Home Buyers, LLC is an Accredited Member of the Better Business Bureau, a registered LLC with the South Carolina Secretary of State, and an active member of the Charleston Real Estate Investors Association. “We pride ourselves on our integrity and conduct business under strict ethical principles. We say what we mean and do what we say!” Many references and testimonials are available upon request and some of which are posted on our website. We buy houses in Charleston, Dorchester and Berkeley County and work with a group of nationwide investors. We currently are looking to buy more real estate in Summerville, Goose Creek, North Charleston, Ladson, Hanahan, West Ashley, James Island, Johns Island, Mt. Pleasant, Downtown and all other area in the tri-county area.

If you need to sell your house quick, submit your property information via the “Sell My House” form at our website today for a Free, Confidential, No-obligation offer or call our toll free 24 hour recorded message at 888-52-BUYER (888-522-8937) for more information about selling your home to a professional house buyer. You can also always call us direct 843-72-BUYER (843-722-8937), however it is usually better to take 5 minutes to fill out our property information form first so that we can save you time by having the information already and do some research so that we can get an offer to you right away.

Here’s what some of our sellers have had to say:

“I had been trying unsuccessfully to sell my house for 9 months with a realtor…tired of having the house perfect… we closed the following week” Frank P. – North Charleston

“In less than a week’s time, all of my headaches were over… I would recommend anyone who needs to sell their house to this group of caring people…” Rev L. Greene – Summerville

“My experience with Charleston Home Buyers began and ended with extreme kindness, genuine concern, and sympathetic professionalism…” Brenda M. – West Ashley

“Selling a house can be quite difficult and stressful unless you can find someone like Charleston Home Buyers …… They saved me from losing my house to foreclosure and I was able to make some money and not lose everything.” B. Harvey – West Ashley

“….selling our home to Charleston Home Buyers was the best decision we made. They handled our affairs with the utmost care and efficiency…..” The Daniels Family” – Charleston

Copyright © 2009 Charleston Home Buyers, LLC. All rights reserved.



Bessie

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