Your loan officer could tell you more about the interest rate you are getting. Since this has to do with you credit score and other factors. However - rates are GREAT right now.
"what is expected from the seller"
answer: to cooperate with the sale, & agree on a price that benefits him and you, That's about it. You need to make sure you are happy with this home, and based on the other properties you have seen - this home meets the needs for you and your family.
To be really honest with you, these are the types of questions you need to be asking the realtor who is representing in the purchase of this home.
You ask a number of questions:
Q: Is this area best for first time buyers?
A: That depends on you and your needs. A good home for a first time buyer is one that meets the majority of their perceived needs AND is affordable.
Q: What is expected from seller.
A: That they cooperate with the transaction â€“ this question needs to be answered by your Realtor.
You further ask:
Q: How are rates?
A: If you are asking about loan rates, ask your lender. They should have given you a good faith estimate with your interest rates, monthly payments and so on.
Q: Can u tell me opinion on this property?
A: It is not our place in this forum to give you opinions about any specific property â€“ to do so would put us in an agency relationship with you and you already have an agent. Additionally, although most of us are very familiar with this development, Iâ€™m guessing almost none of us have been inside that specific unit. I can tell you that the overall complex is nice and clients of mine who live there like it a lot.
A: Without knowing what you are looking for and your sensitivity to specific issues, itâ€™s impossible to answer this question.
Q: schooling district
A: Go to http://www.greatshools.net.
Q: resale value?
A: Impossible to answer â€“ too many variables.
Q: closing costs?
A: Ask your lender â€“ they should have given you a Good Faith Estimate AND your Realtor should have given you an Estimated Buyerâ€™s Costs sheet with all closing costs included.
Q: Hoa fees?or any other from seller?
A: Donâ€™t know what you are asking here. If you are asking can you get any credits or anything else from the seller, itâ€™s too late to be asking that question.
Hereâ€™s my bottom line: it looks like your offer was accepted yesterday and you are now having some doubts because you have a lot of questions that apparently werenâ€™t answered by your Realtor up front. You need to meet with your Realtor today and ask them the questions you are posting in this forum â€“ make sure you get satisfactory answers. To be really honest, these questions should have been answered to your satisfaction by your support team (lender and Realtor) BEFORE you ever made an offer. If you are not totally satisfied and do not feel comfortable proceeding with the purchase, then ask your Realtor to cancel the contract â€“ if it was written correctly, you have contingencies in the contract that will allow you to get out and get your deposit back.
Just to add to my earlier post, which I forgot to insert, you have to hire a local realtor. I am quite sure that realtors in your area will be ready to help and the professionals out there know exactly that my answer is a general guideline. It is obvious without elaborating.... I am not from the area.
Some first time buyers may have no handyman skills or would prefer not to tackle home repairs -- as such, you'd want to stay away from homes that need "TLC" or are fixers.
Some buyers don't have the time to wait -- so you may want to stay away from short sales because it may take 3-6 months or even longer to complete, and there are no guarantees.
Some buyers want low-maintenance properties -- you may prefer small or no yards, condos/townhouses instead of detached homes.
Some buyers want easy access to public transportation, etc. --- so you may prefer to be closer in to town instead of being way up in the hills.
You get the picture, right?
Schools are good, you can review the link below;
My opinion is: Good
Closing costs are (most of the time) standard, in regards to who pays for what. You real estate agent should be able to show you what the closing costs are.
Since your agent has successfully negatated your purchase - I hope they will be able to answer all your questions.
closing costs?Hoa fees?or any other from seller?
These should not be the only questions you should ask as first time buyer.
An excerpt from REBAC( Real Estate Buyers Agent Council) which I am a member of.
"Getting Started: What First Time Home Buyers Need to Know
One of the best ways to make the home buying process flow easier is to become better-acquainted with your options and clearly define your goals. Understanding the reasons you want to buyâ€”and what you want to accomplish in your moveâ€”will go a long way towards shaping your plans and improving your results.
Perhaps the most important first step involves deciding how you will approach your home search. Who will you work with throughout this processâ€”and how will you work with them? "
Bottomline, hire a real estate agent, especially an agent with ABR designation.
Best of Luck.