Top Four Home Buyer Tips
your own buyer’s agent- IT’S FREE!!!!!!
Sellers pay the whole agent commission.
As a buyer, if you do not use
your own agent, the listing agent,
who is already representing the
seller, will likely become your
agent. Doesn’t this sound like
a conflict of interest to you?
It should be, but it’s legal.
Picket Fence Real Estate will
not represent both the buyer and
seller in the same transaction.
Protect your interests and find
an agent. It won’t cost you anything
and could save you a fortune.
out how much you can really afford.
Lenders will tell you how much
they are able to lend you. That
does not mean you can really afford
that much. Lenders do not have
to take into consideration any
expenses you have beyond legal
obligations (car payments, child
support, student loans, etc.).
This doesn’t include things like
gym memberships, health insurance
or childcare. Technically, you
could stop paying for these any
time. But is that realistic?
Do keep in mind you will probably
be getting a bigger tax refund
once you own a home. If you can
itemize, other deductions may
be available to you. Check with
an accountant about this.
get a home inspection before you
Home inspections typically run
from $300 to $500. The money you
spend on a home inspection may
save you thousands of dollars
in the long run. This is not the
place to cut corners. Walking
through the home with an inspector
also gives you a good quick education
about the systems that make up
to move in less than two years?
It’s probably not wise to buy
If you cannot own and occupy a
home for at least two years, you
probably should not be buying
a home right now. Federal tax
laws provide most homeowners with
a capital gains exemption on profits
($250,000 for singles/$500,000
for married couples) from the
sale of a home. But the seller
must have owned and occupied the
home for at least two years. Check
with an accountant about this.
Additionally, the cost of selling
a home can run from 6% to 9% of
the selling price. You should
factor this into your decision.