Buying a Home Stress Free

Removing the stress from the home buying process is the Real Estate Agents number two objective after finding your buyers the perfect home of their dreams. Rated as one of the most stressful times in a human's life, buying a home does not have to be stressful. There are several things that you can do to remove layers of the stress from your shoulders.

First you need to select yourself a Realtor who is not only going to work tirelessly for you, but one that is able to work as a partner with you. Someone who is a great listener organized and understands what you need. Make sure that they are also very qualified and experienced.

Secondly is go through with your significant other or by yourself and list your non-negotiables. These are things that you absolutely need regardless in your new home. It could be anything from exact location to number of rooms, to the direction the master bedroom faces. This list can be as many items as you want. Once you are done, you will need to go through and number them, with one being the biggest non-negotiable all the way through the end of the list. So if a certain development is number one for example and the bathroom has to be orange could be 12. Understand that your bottom 3 or 4 may need to be taken off your list if you find a property that has everything but those few items. Going through and ranking these items is an important process. Review your list with your Realtor and let them do their job.

Another piece of advice is to give you enough time to find that home. It is never good to be searching for a new property you need to move into before the kids start school in September and it is August 1! You will not only have stress but so will your Realtor.

Another key thing is to set showing or viewing expectations. I highly recommend that my clients don't see more than 7 properties in any one single day. I also recommend to them to take their digital camera with them. The MLS system only allows for 10 photos and they may not be the way you remember the property, especially if it is vacant.

Again, once you find that perfect home, the offer process will start and you will write up an offer. This is really where the stress can kick in. Remember two things about making an offer on a property. First, the person you are making the offer to is the owner and has emotional and sentimental connections to the property. Secondly, this is business and don't be offended. Your Realtor is going to walk you through the entire process step by step. Make sure that you are in constant contact with them throughout the negotiation process.

Once you are in contract again, the Realtor will assist in the inspection process, ensure the appraisal is done, work with your bank and keep in contact with the seller's Real Estate Agent. The job of a Realtor is really never done. They don't get paid until after closing so they have it in their best interest to ensure that the sale closes. Even after the sale, I still get calls from my clients asking about a good carpenter or a referral on a landscaper. I contact them after 2 weeks of moving in, 2 months and then every six months just to make sure that they are 110% satisfied.

Put the burden on the shoulders of the person it should be on, your Realtor. I always tell my clients that I am their representative in the transaction, that I will take on the burden and that they don't have to pay me a penny.

First you need to select yourself a Realtor who is not only going to work tirelessly for you, but one that is able to work as a partner with you. Someone who is a great listener organized and understands what you need. Make sure that they are also very qualified and experienced.

Secondly is go through with your significant other or by yourself and list your non-negotiables. These are things that you absolutely need regardless in your new home. It could be anything from exact location to number of rooms, to the direction the master bedroom faces. This list can be as many items as you want. Once you are done, you will need to go through and number them, with one being the biggest non-negotiable all the way through the end of the list. So if a certain development is number one for example and the bathroom has to be orange could be 12. Understand that your bottom 3 or 4 may need to be taken off your list if you find a property that has everything but those few items. Going through and ranking these items is an important process. Review your list with your Realtor and let them do their job.

Another piece of advice is to give you enough time to find that home. It is never good to be searching for a new property you need to move into before the kids start school in September and it is August 1! You will not only have stress but so will your Realtor.

Another key thing is to set showing or viewing expectations. I highly recommend that my clients don't see more than 7 properties in any one single day. I also recommend to them to take their digital camera with them. The MLS system only allows for 10 photos and they may not be the way you remember the property, especially if it is vacant.

Again, once you find that perfect home, the offer process will start and you will write up an offer. This is really where the stress can kick in. Remember two things about making an offer on a property. First, the person you are making the offer to is the owner and has emotional and sentimental connections to the property. Secondly, this is business and don't be offended. Your Realtor is going to walk you through the entire process step by step. Make sure that you are in constant contact with them throughout the negotiation process.

Once you are in contract again, the Realtor will assist in the inspection process, ensure the appraisal is done, work with your bank and keep in contact with the seller's Real Estate Agent. The job of a Realtor is really never done. They don't get paid until after closing so they have it in their best interest to ensure that the sale closes. Even after the sale, I still get calls from my clients asking about a good carpenter or a referral on a landscaper. I contact them after 2 weeks of moving in, 2 months and then every six months just to make sure that they are 110% satisfied.

Put the burden on the shoulders of the person it should be on, your Realtor. I always tell my clients that I am their representative in the transaction, that I will take on the burden and that they don't have to pay me a penny.

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First Time Home Buyer Grants Are Available From the United States Government Every Year!

The government issued out over $1 trillion into the American economy last year. There many different programs such as federal housing programs, personal need grants, and first time home buyer grants. In order to qualify for this grant you only need to be 18 years of age in the United States citizen. There are no government credit checks and there are no background checks in order to get money from the government and you do not have to pay interest on this money nor do you have to pay it back.

If you already have a house that needs to be fixed up, you can receive up to $7000 in order to repair it. First time home buyer grants are available and you only need to apply in order to get them. As of this writing you can receive up to $15,000 in order to pay for a down payment on the first time home buyer grants program.

If you need your roof repaired before you buy another home you can receive up to $10,000 to repair your roof and up to $2000 to help you pay for late mortgage payments if this is applicable you. The United States government disperses money into the economy in order to stimulate it and contrary to popular belief the government actually wants you on your feet and debt free which is why government grant programs are issued at a rate of $1 trillion every year.

There are government grants to help you pay your bills, if you purchase a home in another state there is even a program that will work you $10,000 if you like to find a better job if you're moving to another city. Government grants are very real and millions of American enjoyed free money every year. And you are no different.

Good Lessons For Home Buyers

Purchasing a home can be a bittersweet experience. On the one hand, the excitement of owning a new house, and on the other, the dreaded reality that you have no money left in your bank account.

Typically, we scrape together as much cash as possible and apply it to the down payment and closing costs. But is this the best strategy? Many lenders would prefer a buyer have a smaller down payment, and a cash reserve for emergencies. Ideally, buyers should try and build up an account that will cover three to six months worth of mortgage payments and living expenses.

In addition to regular expenses, new home buyers on average, spend an additional $4,900 during the first year just making minor repairs and making the house their own. Buyers of resale houses spend about $3,600. These numbers are based on statistics by the National Association of Home Builders.

None of these expenses are taken into account in the requirements by the Federal Housing Administration who only request that a buyer has a minimum 3.5 percent down payment. Although this extra cash buffer is not mandatory, it will prevent many sleepless nights for the home owner.

In order to help out with the down payment or closing costs, the government has introduced an $8,000 tax credit. Qualifying home buyers can borrow the money and then file an amended return, using the $8000 refund against their 2008 taxes, and add to their savings account. The credit applies to those who have not owned a home in the last three years, are buying between January 1, 2009 and November 30, 2009; and does not apply to married couples earning $150,000 or more, or singles earning $75,000 or more. It also doesn't apply to those in the Washington area obtaining loans that exceed the FHA's limit of $729,750.

Some buyers toy with the idea of cashing in their savings to pay off existing loans in order to boost their credit. Paul Corey, a mortgage loan officer with Weichert Financial Services in Montgomery County, warns against this idea.

"Sure, it's good to not have a debt any longer, but if you've totally wiped out your savings, what good are you doing in the long run if an emergency pops up?" he said.

It's good practice to place your savings in a high interest bank account, money market fund, or short-term bank certificates of deposit, where you can access it quickly, and without penalty if the need arises. Lenders will still consider up to 70 percent of the money invested in retirement accounts towards cash reserves.

Once you have built up that reserve account then applying any extra money to your deposit is definitely the way to go. Not only are you saving on interest payments, but the cost of mortgage insurance drops dramatically. For instance, 10 percent down on a $250,000 mortgage results in an insurance payment of $129 per month. Increase that down payment to 15 percent, and the payment reduces to $79. If you can apply 20 percent, there is no requirement for mortgage insurance.

Home Information Packs Explained - Buyers

Home Information Packs (HIPs) provide buyers in England and Wales with the information they need about a property to empower them to make an informed decision about whether or not to make an offer for a property.

What is a HIP?
The Home Information Pack (HIP) gives buyers important documents about the property free of charge before they make an offer. In the past, before the introduction of HIPs, buyers would have to pay for this information themselves. This information must be available to a buyer as soon as a property is put on the market.

What is in a HIP?
The HIP comprises of compulsory and optional sections. There are also items that are forbidden such as marketing and advertising material.

These are the compulsory (required) items:

• Home Information Pack Index
• Property Information Questionnaire (PIQ)
• Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA)
• Sustainability information (required for newly built homes)
• Sale statement
• Evidence of title
• Standard searches
• A copy of the lease (if applicable)
• Commonhold documents (if applicable)

Optional items:

• Home Condition Report - contains information about the physical condition of the property and can be used by all parties involved in the transaction as a legally accurate report. It is similar to the more familiar Homebuyer Survey and makes the seller and buyer aware of repairs that are needed.

Home Inspection - Worth the Time Or Cost?

A home inspector is your advocate. An inspectors' responsibility is to look out for you. To provide the information so you can make an informed decision when purchasing a home. As a neutral party, an independent inspector should have no financial interest in the sale of the property. Home & building inspection services provide you an unbiased written report of the condition of the property at the time of the inspection.

Think about it, you are good at what you do, whether a teacher, police officer, manager, or whatever your employment is, few people have the knowledge, experience or training to inspect the hundreds of items in a property, such as foundations, roofing, plumbing, or electrical systems. From the top of the roof to the bottom of the foundation, and everything in between, an experienced inspector looks for any indicators of concern. Have a trusted, knowledgeable, experienced professional examine the home to make sure you are not investing hundreds of thousands of dollars in a money-pit!

An inspector examines hundreds of elements in a normal or standard visual inspection. This is where experience comes in. Having inspected hundreds of properties, experienced in all aspects of home construction, and the building sciences, an experienced inspector is worth every penny they charge. Finding small, almost negligible indicators of abnormal system operation, a worn out components' sound, or the distinct smell of burning wire insulation of an overloaded circuit, can be the difference between a novice inspector passing by not even noticing. An inspectors experience helps to find the defects & informs you of the consequences.

Most inspections are visual in nature. More invasive technically exhaustive inspections are available. This type of inspection (technically exhaustive) requires the services of individual contractors such as an electrician, plumber, structural engineer, roofer, etc. to examine the individual components of a property. The cost for technically exhaustive inspections may become unrealistic (10x a visual inspection) because of the nature of the tests and time required to perform invasive inspections. Visual inspections are the norm.

Depending on the region, inspection charges range from $275-$500, for a typical three bedroom, two-bath home with a basement. (Note- Experienced inspectors are at the higher end of the scale) Some inspector services include digital pictures for added clarity, or a home maintenance manual to help guide you through normal home maintenance procedures.

All homes have issues of concern, i.e. deferred maintenance (caulking, painting, clogged gutters, etc.). The objective is discovering and reporting the items that can mean the difference between a huge repair bill and extra money for whatever you choose.

After consultation with your attorney, the choice is yours to make after all the information is in front of you. The inspection is one of the most important or essential step in the home buying process. It gives you the peace of mind knowing what to expect. Is it worth it? What do you think?