Posted by Rebecca
Mon, 18 Jun 2007 09:00:00 GMT
My brother-in-law Daniel has agreed to let me write about the details of his first home purchase. In Parts I and II, Daniel found a home he liked, began working with a great lender and now has a binding contract on that home. If you haven’t read Parts I and II, you’ll want to do so now.
5. The inspection period
According to Daniel’s contract, he had 7 days to get a home inspection and request any repairs that he wanted the seller to make. Then he and the seller would have 3 days to negotiate the repairs and come to an agreement.
In Daniel’s case, he decided not to have a home inspection done. As a Realtor, I always recommend having a home inspection, but this is your choice as a buyer, and you may have good reasons either way as to whether or not you need a home inspection.
Since Daniel had decided not to have a home inspection, he and I made an appointment for a walkthrough.
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Tags attorney, closing, home, inspection, insurance, lawyer, lender, moving, realtor, termite, warranty | 1 comment
Posted by Rebecca
Wed, 13 Jun 2007 15:04:00 GMT
Thinking about buying your first home, but have no idea where to begin?
I’m willing to bet that a lot of first-time home buyers feel the same way. That’s why I’ve asked my brother-in-law, Daniel, if he’ll allow me write a detailed account of his first home purchase. Join me during my next few posts as I take us step-by-step through buying a house.
1. Figure out what exactly you are looking for in a home.
Decide, for starters, on your ideal price range, home size, yard size, number of bedrooms and bathrooms and location of the home. This is a good time to find a Realtor you can trust. Your Realtor can help you decide exactly what you’re looking for in your first home.
Note: the first step for some buyers may be to find a good lender and have him prequalify you. This is very helpful, and if you have no idea what you can afford, the lender will help you find out.
In Daniel’s case, he wasn’t even planning on buying for another year or so, but he had already begun thinking about what he’d like in a home. To help with this process, I’d been sending him e-mails, complete with photos, of houses currently on the market. This helped him get an idea of how property in Savannah is priced, and what types of homes are available in the different local neighborhoods.
Click here to sign up to receive e-mails with Savannah property information and photos.
It didn’t take Daniel long to figure out that he’d like to live on Whitemarsh or Wilmington Island. (He wanted to be close to downtown Savannah, a reasonably short drive to I-16, close to the beach and near his friends.) He also wanted at least three bedrooms.
2. Find your perfect home - the home that most closely meets your needs.
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Tags home, mortgage, Move, Property, realtor, savannah, Whitemarsh, Wilmington | 1 comment
