Buying a house ...

[ilovemyglo]

A few items:

Go to two brokers, not just one. Each broker has different products available to them and get referrals for them- Sometimes your realtor will know reputable brokers. Be careful about just going to lendingtree or something a lot of those companies bait and switch guaranteeing you a rate of X and when you get to the closing table it has changed but you think it is too late.

Interview realtors. Typically the selling realtor gets a 3% commission and the buyer's realtor gets a 3% commission. That means if you see a house you like and it says the Relator that has it for sale is Susie B Bell, you may want to think twice about calling her and not using your own realtor- why? Because it can be a conflict of her interest. She gets 6% if she is the buyer and sellers realtor. And she may not tell you that you could ask for another 2% off or something.

When I bought my house we had a home inspector and then followed up with a structual engineer. I spent $1000 in inspections but it was worth it. We were able to get the house we wanted and not have to worry that it was going to crash down.... (even with our recent earthquake!!).


Other thoughts- ignore the paint and the ugly dirt, you can fix taht. So many people think that the houses aregoing to be move in condition. I looked at some foreclosures even. Putting some sweat equity can save you some money sometimes!