We found a home that we both greatly like. We had gone to our local bank for a pre-qual and are waiting to hear from them. The home is listed for 92,000. But has (by looking at the pictures) been on the market now for about two yrs. The realitor that is currently trying to sell it for the older couple, stated when we first met, that he is the 4th! realitor to try to sell it. He showed us the paper, and saw it started out at 110,000. He said that three people in the past have offered 75,000 and she declined each one. We don't want to get all frustrated and end up doing or signing the wrong thing. The gentlman (realitor) has been honest to our perspective. Our current landlord actually works for Prepaid Legal. But our current lease isn't up until Aug 08! The realitor stated we can have our rent contigent to buying a home. Not sure if it can happen or not.

CHAD
FRIENDS AND FAMILY MAY HELP IN REFFERING AN AGENT TO YOU THAT HAVE WORKED WITH THAT AGENT AND KNOWS THE TRACT RECORD .YOU WANT SOMEONE THAT YOU CLICK WITH , TRUST AND WILL REPRESENT YOU AND YOUR INTRESTS IN THE TRANSACTION OF YOUR HOME. ALSO ONLY HIRE A FULL TIME REALTOR. PART TIMES HAVE OTHER INTRESTS LIKE THERE OTHER JOB AND WAIT FOR ANOTHER AGENT TO SELL THE PROPERTY !

As exciting as buying your first home can be, it can also be a very frightening and dangerous process unless you are well protected by a qualified Realtor. Getting preapproved for a specific loan size is a critical step toward buying a home that you can do on your own-- but again, get references on lenders and interview several of them before selecting one. Cruise some neighborhoods and go through several open houses and talk to the agents holding the open houses. Work on your list of questions to use when you are ready to interview several for your purchase. Good luck.

The best and most informative thing to do is to contact a local realtor. The best way to choose the one that is right for you is to ask around. The best connections when using any new service is through direct refferals. You mention that you are also a first time homebuyer. This can sometimes work in your favor, as sometimes there are special grants, incentives and programs that may be be able to help you through this transaction. Make sure that the realtor that you select seems to be well versed on what might be available in your state for first time homebuyers. In closing I agree with you there is so much to do and so much to do, the legality of things also come into play when buying a house because from the first time that you sign on with a realtor you may be entering buyer agency. This just simply means that the agent wil be putting his loyalty into you and distincltly working in your favor. with all things said buyer agency is general the first contractual agreement you may be involved as a prospective buyer. Consequently, you will need to understand this as well as any other contracts. You can definitely contact an attorney if you dont understand any contracts. A good prepaid attorney service may be a good place to start. There are tons of them out there, but again cavate imptor, buyer beware, choose any of your team with care, and go off your best refferal if possible. Prepaid legal services cost about 30. a month and you would be be able to have you contracts reveiwed within the membership priviledges. Now go on, choose a realtor, they can help you to get preapproved for you home mortgage loan. The fact that you are reaching out for help is a good sense of judgement. I know you'll do fine with the proper guidance. Now breathe........relax.....You are well on your way to homeownership!

I highly reccomend using a Realtor, and a good one at that. Somebody that realizes you are a first timer and is willing to take the time and patience to help you understand it as you progress through this adventure.
Usually using a buyers agent is at no cost to you becuase homes listed for sale are already counting on paying the buyers agent out of the Listing agents commission.
What this means is you get to have an expert help you through it all and it isnt a loss to you at all.
You should be proud of yourself, buying your first home is one of the biggest and yet BEST steps in life you will ever take. Good Luck.

There is about 1/2 worth of discussion; far too much to write about. Feel free to give me a call 631-425-6150 and I will be happy to take you through the entire process. I am coaching Realtors this evening from 7-8 pm and again 9:30-10. Feel free to call at any other time.

Hi Chad. I have a Buyer's Section on my web site. Please check it out.

But, the first thing you want to do is speak with a bank and have them check out your financial situation. Once you are clear as to what you monthly payments will be then we can go shopping. Good Luck!

Henry