Buying a home is often the biggest single purchase you’ll ever make. But it isn’t just choosing a home to buy that’s complicated. You’ve got to think through neighborhood issues, size issues, and cost issues. Buying a home can also include legal issues, construction or building concerns, and have serious tax implications. Financing your home purchase is another big topic of interest for most home buyers. From this topic page, you’ll be able to find articles and videos that help you understand how to balance what you want in a home with what you can afford to spend. You’ll also be able to refine your search about buying a home by using the topic cloud on the right navigation.
When’s A Good Time To Buy
By Ilyce Glink| 2008-05-28T00:00:00-05:00 May 28th, 2008|
What are good reasons to buy a home? Saving on taxes is not a good sole reason to buy a home. Here are several financial and personal reasons that will help you decide whether to move to buy a home.
Closing Date Change Could Cause Loss Of Earnest Money
By Ilyce Glink| 2008-05-22T00:00:00-05:00 May 22nd, 2008|
When a seller changes the closing date and the buyer decides to pursue other properties, can the seller keep the buyer's earnest money? Does the seller have a right to the earnest money when the contract has been canceled and the closing will no longer occur? And can the seller lay claim to earnest money related to a home repair?
Buying A Home? Try Tax Auction
By Ilyce Glink| 2008-05-15T00:00:00-05:00 May 15th, 2008|
One option to consider when buying a home is a tax auction. Localities sell homes at tax auctions when the homeowners failed to pay property taxes. If you pay off the property tax, you buy the home but you do not get to move in right away. The original homeowners may have up to two years to pay the property tax lien and void the sale at the tax auction.
Buying A Home Without Adequate Income
By Ilyce Glink| 2008-05-09T00:00:00-05:00 May 9th, 2008|
Without adequate income, you can't qualify to get a mortgage loan to buy a home. In addition to income, lenders want to see that you have a good credit score before giving you a mortgage loan. Once you've got the income, a good credit history and credit score, you can start looking for a house to buy.
Contract Will Determine Fate Of School Playground Equipment
By Ilyce Glink| 2008-05-02T00:00:00-05:00 May 2nd, 2008|
School playground equipment is considered a fixture. Fixtures typically stay at the site where they're installed and have to be excluded from a contract to be removed. In a typical residential purchase contract, fixtures permanently attached to the property are generally left with the property.
Asking For Trouble With Synthetic Stucco
By Ilyce Glink| 2008-04-03T00:00:00-05:00 April 3rd, 2008|
Synthetic stucco may trap moisture between exterior and plywood leading to mold and rot. A developer asks about using synthetic stucco over concrete blocks. There has been more success using synthetic stucco over concrete blocks, but this developer will still have to fight the negative public perception of synthetic stucco. But if he is not looking for problems in construction, he may want to consider other exterior finishes.
Builder Won’t Fix Problems In New Home
By GlinkAndTamkin| 2008-04-03T00:00:00-05:00 April 3rd, 2008|
A buyer says his home has problems like a leaky roof. He says the builder will not fix the home problems. Who can he contact to help with these home problems?
New Construction Condo Change Could Affect Earnest Money
By GlinkAndTamkin| 2008-03-27T00:00:00-05:00 March 27th, 2008|
When you buy a condo or a home as part of a new construction development the developer will provide you with a contract outlining the specifications of the property you're buying. What if your condo then does not meet those specifications? Can you break the contract and let the bank keep the earnest money? Does the lender have a right to sue the buyer in this case?
Condominium Contract May Allow Builder To Keep Earnest Money
By GlinkAndTamkin| 2008-03-12T00:00:00-05:00 March 12th, 2008|
When you put earnest money down on a condominium with the intention of buying it you risk losing that money. Even if you can't sell your current condominium, that doesn't mean you'll be able to ignore the terms of the contract. It may mean that the builder will keep your earnest money even if you don't end up buying the condo.
Buying A Home In Need Of Remodel
By Ilyce Glink| 2008-03-07T00:00:00-06:00 March 7th, 2008|
A reader asks about buying a home that needs remodeling. He wonders about the costs of the home and remodeling it. How much less should the buyer offer for the home that will be remodeled, if it's facing foreclosure?