Brian Spark

There are many qualified professionals in this area. Ask your Realtor because he/she has dealt with many of them before and will point you in the right direction. - Mon Apr 23 2007, 15:51

Your Realtor is a resource. He or she should have a network of lenders and mortgage brokers that they have worked with before and know provide great service. As in the previous question, your best deal hinges on what your goals are for homeownership. Making your goals known is paramount to getting the best deal. - Mon Apr 23 2007, 15:51

I always recommend that you try and get your 'ducks in a row' before looking for your new home. Talk to a lender first. The lender will 'run your numbers' by pulling your credit report and figure out the best loan program available to you based on your earnings and your debt ratio and also how long you intend to stay in that area. A 30 year fixed loan may or may not be the best loan to you if you plan on moving out of state in 3 years. Once your lender has all this information they will be able to provide you with a pre-qualification letter which you need anyways as part of the home buying process. If you need it anyway, might as well get it ahead of time! Your Realtor will then be far more time efficient by showing you properties that you know you can afford. Why fall in love with a house that you suddenly find out you can't afford....get pre-qualified!! - Mon Apr 23 2007, 15:51

One of the benefits to dealing with a FSBO is that the homeowner (seller) isn't always current with market pricing and you may get a deal. One of the drawbacks is that the seller isn't educated on the selling process and problems can occur with paperwork. To buy a foreclosed home you may have to show up on the county court steps to bid on the property depending on how far along in the process the foreclosure is. You wouldn't operate on your own body to save money so hire a Realtor. This is what we do and I believe that it's money well spent to have a professional represent your best interests whether you're a buyer or seller. - Mon Apr 23 2007, 15:51

The Listing Price is what the Listing Agent (or homeowner if it's a FSBO) deems the property is worth on that given day. The Market (buyers) actually determine what the Market Value of the home is based on many variables such as current amount of inventory, location, school district, the functionality of the property among other variables. These are all areas that a good Realtor can best represent you. Realtors have access to recent sales (comps)and should also know what other homes in your price range are currently on the market for. The home buying process for a single family home versus a condo only varies a little. Buyers should still do their due diligence and conduct property inspections, pest inspections. With a condo, you should get a copy of the CC&R's (covenants, conditions and restrictions) and read them thoroughly. These will tell you what you can and cannot do such as if pets are allowed, any parking restrictions, what your homeowner dues are, etc etc. A lot of single family homes also have Homeowners Associations which also provide CC&R's but not all do. - Mon Apr 23 2007, 15:51