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Buyers Resources

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        <li><a href="#anchor5465660">Overview of the Buying &amp; Selling Process</a><br>
        </li>
        <li><a href="#anchor5466596">Benefits of Home Ownership</a><br>
        </li>
        <li><a href="#anchor5466832">Finding the Right Home</a><br>
        </li>
        <li><a href="#anchor5467030">Home Shopping Tips</a><br>
        </li>
        <li><a href="#anchor5467409">Home Inspections</a><br>
        </li>
        <li><a href="#anchor5467621">Answers to Frequently Asked Questions</a><br>
        </li>
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          <h3>Overview of the Buying &amp; Selling Process</h3></td>
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            <th colspan="2" bgcolor="#3F3F3F"><font color="#FFFFFF">Buyer</font></th>
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            <td align="center" width="15">1</td>
            <td width="210">Considers purchasing a home</td>
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            <td align="center">2</td>
            <td>Selects a real estate agent</td>
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            <td align="center">3</td>
            <td>Determines needs and wants</td>
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            <td align="center">4</td>
            <td>Discusses financial issues</td>
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            <td align="center">5</td>
            <td>Views &amp; researches target homes</td>
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            <td align="center">6</td>
            <td>Makes an offer to buy</td>
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            <td colspan="2"><img src="http://www.eagent360.com/agent/images/arrow_downrt45.png"></td>
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            <th colspan="2"><font color="#FFFFFF">Seller</font></th>
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            <td align="center" width="15">1</td>
            <td width="210">Decides to sell property</td>
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            <td align="center">2</td>
            <td>Selects a real estate agent</td>
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            <td align="center">3</td>
            <td>Determines needs</td>
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            <td align="center">4</td>
            <td>Prepares home for marketing</td>
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            <td align="center">5</td>
            <td>Agent markets the home</td>
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            <td align="center">6</td>
            <td>Accepts, rejects or counters offer</td>
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            <td align="center" width="15">7</td>
            <td width="210">Offer Accepted</td>
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            <td align="center">8</td>
            <td>Loan Application</td>
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            <td align="center">9</td>
            <td>Inspections</td>
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            <td align="center">10</td>
            <td>Title Search</td>
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            <td align="center">11</td>
            <td>Appraisal</td>
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            <td align="center">12</td>
            <td>Loan Approval</td>
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            <td align="center">13</td>
            <td>Closing Papers Signed</td>
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            <td align="center">14</td>
            <td>Documents Recorded</td>
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            <td align="center">15</td>
            <td>Funds Available To Seller</td>
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            <td align="center">16</td>
            <td>Seller Moves Out</td>
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            <td align="center">17</td>
            <td>Buyer Moves In</td>
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      <td colspan="2"><br>
        <a href="http://craigsellsridgecrest.com/buyers_resources.html#top">Back to the Top</a> </td>
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      <td><h3>Benefits of Home Ownership</h3></td>
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      <td><p><strong>Credit:</strong><br>
        Owning a home helps you establish financial credibility.</p>
          <p><strong>Independence:</strong><br>
            Owning your own home provides you with independence and more privacy  than renting. You are free to paint walls, plant flowers, keep pets and  anything else within legal bounds.</p>
        <p><strong>Investment:</strong><br>
          As you make more payments and own more of your home, you add to its investment  value. Most improvements you make will also add to its value.</p>
        <p><strong>Pride:</strong><br>
          A home reflects its owner's values and lifestyle. Owning a home can provide  you with a source of pride, enjoyment and satisfaction.</p>
        <p><strong>Security:</strong><br>
          A home can provide security against inflation because the value of your  home increases as prices go up.</p>
        <p><strong>Stability:</strong><br>
          Being established in a community provides a sense of belonging, stability  and security.</p>
        <p><strong>Tax Advantages:</strong><br>
          Interest on your mortgage loan is deductible on your yearly personal  income tax return. Many of the closing costs associated with purchasing  your home are deductible, as are your property taxes.<br>
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        <a href="http://craigsellsridgecrest.com/buyers_resources.html#top">Back to the Top</a> </td>
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      <td><h3>Finding the Right Home</h3></td>
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      <td><p><strong>Real Estate Agents</strong><br>
        You can sit down with a real estate agent and discuss your needs, type  of area, style of home, amenities and everything you really want in your  next home. Real estate agents can help you by accessing a Listing Service  which covers all properties listed for sale within a specific area. Together,  you can select the homes you would like to see, set appointments and preview  homes in a short period of time. An agent can guide you through the entire  process.</p>
          <p><strong>Newspaper Ads/Internet</strong><br>
            Many people go through the real estate classified section or browse the  Internet to find a home that appeals to them. However, your real estate  agent will have many listings available that may not appear in the newspaper  or Internet on a continuous basis. New listings come on the market daily.</p>
        <p><strong>Multiple Listing Service</strong><br>
          Your real estate agent should have access to the multiple listing service  if it is available in your area. It usually includes the following details  about homes and properties for sale:</p>
        <ul>
            <li>Location </li>
          <li>Price </li>
          <li>Photograph </li>
          <li>Utilities </li>
          <li>Amenities </li>
          <li>Annual property tax </li>
          <li>Current financing (when assumable) </li>
          <li>Listing company </li>
        </ul>
        <br>
          <strong>When Previewing A Home</strong>
          <ul>
            <li>Write notes when previewing a home so you will be able to discuss the    details later with your real estate agent. </li>
            <li>Ask questions about the home and discuss any objections or concerns    you may have. </li>
            <li>Ask about the community - schools, shopping and transportation. </li>
            <li>Ask specific questions about the construction of the home; electrical,    plumbing, heating, cooling systems, etc. </li>
          </ul>
        <p><strong>Have Fun</strong><br>
          Relax. Finding your new home can be a rewarding experience. Have a good  time and enjoy the process.</p>
        <div><a href="http://craigsellsridgecrest.com/buyers_resources.html#top">Back to the Top</a></div></td>
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      <td colspan="2"><h3>Home Shopping Tips</h3></td>
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      <td colspan="2"><strong>Check For Properly Working Appliances/Fixtures:</strong> </td>
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      <td valign="TOP"><ul>
        <li><strong>Bathroom</strong><br>
              <ul>
                <li>Sinks </li>
                <li>Showers/tubs </li>
                <li>Toilets </li>
                <li>Vent fan </li>
                <li>Heating fan </li>
              </ul>
        </li>
        <li><strong>Appliances</strong>
              <ul>
                <li>Dishwasher </li>
                <li>Stove </li>
                <li>Oven </li>
                <li>Ice maker </li>
                <li>Garbage disposal </li>
                <li>Range hood </li>
                <li>Refrigerator </li>
                <li>Freezer </li>
                <li>Microwave </li>
                <li>Trash compactor </li>
              </ul>
        </li>
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      <td valign="TOP"><ul>
        <li><strong>Kitchen</strong>
              <ul>
                <li>Kitchen cabinet doors </li>
                <li>Drawers </li>
                <li>Sinks </li>
              </ul>
        </li>
        <li><strong>General</strong>
              <ul>
                <li>Lights (interior &amp; exterior) </li>
                <li>Windows </li>
                <li>Heating system </li>
                <li>Ceiling fans </li>
                <li>Hot water system </li>
                <li>Air conditioning system </li>
                <li>Electrical outlets </li>
                <li>Door bells </li>
                <li>Doors </li>
                <li>Water purifier </li>
                <li>Fireplace damper </li>
                <li>Garage door </li>
              </ul>
        </li>
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      <td colspan="2"><strong>Ensure House Is Well-Built &amp; Systems Are In Working Condition:</strong></td>
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        <li><strong>Exterior</strong>
              <ul>
                <li>Brick bulging or cracking </li>
                <li>Shingles missing or broken </li>
                <li>Siding rotted or missing </li>
                <li>Gutters damaged or need to be cleaned </li>
                <li>Concrete cracked in sidewalks/driveway </li>
              </ul>
        </li>
        <li><strong>Basement</strong>
              <ul>
                <li>Water seepage in basement </li>
                <li>Cracks in foundation </li>
                <li>Poor ventilation </li>
              </ul>
        </li>
      </ul></td>
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        <li><strong>Interior</strong>
              <ul>
                <li>Sub-flooring damaged or loose </li>
                <li>Cracked walls or ceiling </li>
                <li>Cracked tiles </li>
                <li>Loose plaster </li>
                <li>Flooring damaged </li>
                <li>Soft, springy floors </li>
                <li>Water stains near windows </li>
                <li>Water stains on ceiling below bathroom </li>
                <li>Water stains in attic </li>
                <li>Pipe insulation missing </li>
              </ul>
        </li>
      </ul></td>
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      <td colspan="2"><div><a href="http://craigsellsridgecrest.com/buyers_resources.html#top">Back to the Top</a></div></td>
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      <td><h3>Home Inspections</h3></td>
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      <td><p><strong>What is an inspection?</strong><br>
        There are numerous types of inspections. An inspection is meant to evaluate,  at minimum, the structural and mechanical condition of a property. It is  not the same as an appraisal which evaluates the market value of a property.  Persons involved in real estate transactions need unbiased information about  the physical condition of property they plan to buy or sell and your contract  should include a contingency that you obtain a satisfactory inspection report.  Talk with your agent about the types of inspections available.</p>
          <p><strong>Home Inspectors vs. Engineers</strong><br>
            Home Inspector: A person who examines any component of a building, through  visual means and through normal user controls, without the use of mathematical  sciences.</p>
        <p>Engineering: Analysis or design work requiring extensive preparation  and experience in the use of mathematics, physics, chemistry and the engineering  sciences.</p>
        <strong>Finding a qualified Inspector</strong>
          <ul>
            <li>Referrals from satisfied customers </li>
            <li>Referral from a local real estate agent or mortgage company </li>
            <li>Local consumer affairs office </li>
            <li>Yellow Pages under "Building Inspection Services" </li>
          </ul>
        <p>Ask if she/he is a member of the American Society of Home Inspectors  (ASHI). The ASHI has established standards of practice which include the  specific services, limitations and exclusions that can be expected from  private home inspectors.</p>
        <p><strong>What the inspection, at minimum, includes</strong><br>
          Every inspection should include, but not be limited to, an evaluation  of at least the following:</p>
        <ul>
            <li>Foundations </li>
          <li>Plumbing and electrical systems </li>
          <li>Doors </li>
          <li>Ceiling, walls and floors </li>
          <li>Roof </li>
          <li>Hazardous materials concerns </li>
          <li>Heating and air conditioning systems </li>
          <li>Common areas (in condominiums) </li>
          <li>Insulation </li>
          <li>Ventilation </li>
        </ul>
        <div><a href="http://craigsellsridgecrest.com/buyers_resources.html#top">Back to the Top</a></div></td>
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      <td><h3>Answers to Frequently Asked Questions</h3></td>
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      <td><p><strong>What is the difference between "pre-qualified" and "pre-approved"?</strong><br>
        If you are "pre-qualified" you have determined, with a loan  officer, what price you can afford based on the down payment, your debts  and the amount the mortgage company will approve for your mortgage. Being  "pre-qualified" is only a determination of your probable credit.  If you are "pre-approved", your credit, employment and funds have  been approved by the lender.</p>
          <p><strong>What are closing costs?</strong><br>
            Closing costs are an accumulation of charges paid to different entities  associated with the buying and selling of real estate. For buyers, they  are usually about 4-6% of the total sales price of a property. Some of the  closing costs you might encounter are: application fees, appraisal fee,  county taxes, credit report, discount points, documentation fee, escrow  fees, homeowners' association fees, loan fees, mortgage insurance, origination  fees, tax registration and title insurance premium.</p>
        <p><strong>What is a point?</strong><br>
          One point is equal to 1% of the new loan amount. Whenever government  regulation, state usury laws and/or competitive practices prohibit the lender  from charging a rate of interest that would make the real estate loan competitive  with other fields of investments, the lender must seek some method of increasing  the yield for the investors. By charging "points", the lender  can bring the real estate loan up to those other investments.</p>
        <p><strong>What is earnest money?</strong><br>
          When you make an offer, you will need to put up an earnest money deposit  as a sign of good faith that you are seriously interested in buying a home.  That deposit becomes a part of the purchase price and is held in a trust  account until there is full acceptance of the offer. Typically, an earnest  money is 3-5% of the offer amount.</p>
        <p><strong>What is title insurance?</strong><br>
          Title insurance protects the named insured against loss because of defects,  liens, encumbrances, adverse claims or other matters not shown or disclosed  to the new owner that attach before date of policy.</p>
        <p><strong>Is VA or FHA financing unfair to sellers?</strong><br>
          FHA and VA loans provide purchasers the opportunity to buy homes with  minimal cash investment and at lower interest rates. The result is a larger  market for sellers, who also benefit by receiving all cash for their equity.</p></td>
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All information contained on this site is deemed reliable but is not guaranteed to be accurate. Prospective buyers are highly advised to have the appropriate professionals perform independent research to verify accuracy of all information posted on this site.

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