What is the main issue to buy a home?

Asked by Thomas Sica, Los Angeles, CA Sun Mar 18, 2012

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15
Reema Sharma, Agent, Glen Oaks, NY
Mon Mar 19, 2012
BEST ANSWER
For first time home buyers it is fear thats why choosing the agent is a priority to get you over that
3 votes
Lynn Shepodd, Agent, Los Angeles, CA
Sun Mar 25, 2012
Once a buyer is "approved" (credit pulled, pay stubs in...) then sales price is the main deal. They want as snappy a renovation as they can get for the least amount of money. Those homes sell like hotcakes.
0 votes
Dorene Slavi…, Agent, Torrance, CA
Fri Mar 23, 2012
Money...and it always is.
0 votes
The Stephen…, Agent, Portland, OR
Mon Mar 19, 2012
Depends who you ask, I guess. A Realtor would say location and value. You want to buy a home in an area that is not expecting huge depreciation and historically retains its value (at least comparatively).
0 votes
Marco Gomez &…, Agent, Jackson Heights, NY
Mon Mar 19, 2012
In today's lending environment, the most important factor is obtaining a mortgage.
0 votes
Deborah Brem…, Agent, Los Angeles, CA
Mon Mar 19, 2012
Before you think about affordability, location, etc., one question is, "Should I rent or buy?' Have your agent sit down with you and analyze the cost of renting vs. buying in your location, your short and long term goals, and the risks vs. benefits of each.
Buying is not always the best option in every situation. Especially in a volatile market, if the odds are that you will have to sell in less than 3 years, and you do not want to suffer a loss of equity, you may want to hold off. The cost of selling is about 6-7% of value, so in order to break even, you need at least that much appreciation. In this market, no one can guarantee you that margin.
Please be sure to consider the tax ramifications before you buy. Talk to your accountant. Also, as said below, get a full pre-approval (not pre-qualification) from your lender prior to considering your purchase.
Then, the main issue to consider is location. Do your homework. Research the areas you are considering for crime statistics, quality of schools (even if you won't be using them, they are important in resale) and availability of transportation, shopping and recreation. You can change the qualities of anything you buy, but not it's location.
Best of luck,
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
http://www.thebremnergroup.com
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
0 votes
Annette Law…, Agent, Palm Harbor, FL
Mon Mar 19, 2012
Clearly issue #1 is paying for the house. So, let's assume you found the money.
#2. Finding a suitable home at your price point.
#3. Identifying the home meeting your requirements. (gated, pool, location, 55+, pets, Rules and Regs)
#4. Getting the terms that will meet your time requirements.
#5. Passing inspection and appraisal (if financed).
#6. Selecting perfect 'Welcome' mat.

Best of success in finding your new California home.
0 votes
Ludy Ivonina, Agent, Corona, CA
Mon Mar 19, 2012
Hi ,
The main issue could be a qualified income.

Ludy Ivonina
Tarbell,Realtors
(909)731-7124
Ludy@tarbell.com
0 votes
Jonathan Kim, Agent, Los Angeles, CA
Sun Mar 18, 2012
There are many issues but one main item is the loan...
0 votes
Douglas Perez, Agent, Los Angeles, CA
Sun Mar 18, 2012
If you don't have cash to buy a house, then basically you have 4 main requirements to buy it:
1. down payment plus closing cost,
2. credit worthiness,
3. an acceptable property appraisal,
and
4. a qualified income,

But, the main issue could be #4, a qualified income.

Doug Perez
doug@cashrealty.net
(323) 285-8864
0 votes
Janey Bishop, Agent, Encino, CA
Sun Mar 18, 2012
Selecting a property that makes sense for your goals - residence and/or investment. And then selecting a method of payment that makes sense for your goals - tax advantage, cash flow,...
0 votes
Tammy Behnam, , Beverly Hills, CA
Sun Mar 18, 2012
In my opinion the most important part of purchasing home is, being approved by your lender and funding takes place.

Tammy Behnam
310-266-1102
0 votes
Lee Fruchter, Agent, Glendale, CA
Sun Mar 18, 2012
It could be a few issues. Financing, repairs, appraisal, H.O.A, liens, title. Is it a short sale or foreclosure?

Regards,

Lee
0 votes
Christopher…, Agent, Methuen, MA
Sun Mar 18, 2012
The first step to buying a home is to get approved for mortgage financing (unless you are a 100% cash buyer). The second step is to find a home that meets your desired criteria and then negotiate a deal (before someone else does).
0 votes
Monique and…, Agent, Beverly Hills, CA
Sun Mar 18, 2012
The main issue is credit and down payment. If you can meet this criteria buying a home is cake.

Monique and Joe Carrabba
The Carrabba Group
Keller WIlliams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
0 votes
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