Online House Hunting

Wanting to buy a house but dont know anything about buying one?

Me and my husband are wanting to purchase a home,but dont know anything about this,where is the best place to borrow.Can you buy a house thru a morgage company?would it be cheaper? or thru a real estate agent? or thru the owner of the house.What about deeds,abstracts,etc. Where can I find info about all that comes with and understanding buying a house. Need help..Never done this before,and I dont want to get screwed or set up into something that Im not sure about.

Public Comments

1. Me and my fiance just bought a house last april - heres the basic jist. You contact a real estate agent - trust me, its worth it. She'll help you find a place, and she'll talk about price with you, and with whoever is selling the place. They'll do the negotiating for you - its just up to you to decide if you want to accept the offer or not. While you're doing this, before you even find a real estate agent though, you need to contact a mortage lender. He'll run a credit check, tell you how much you can borrow, how much he'll need down, the monthy payments, and so on. When you're out with your real estate agent, let her know what the mortgage lender (broker) told you, and you'll be able to look at houses specific to that price range. The great thing about hiring a mortage broker and a real estate agent is that they know all the tricks of the trade, what to expect, etc. Its certainly something well worth the money - especially when you're already spending a huge amount of money to begin with. Hope this helps! Its fairly simple, it just takes alot of time, patience, and an unbelievable amount of paperwork.
2. first check the papers and individual sellers this will save you thousands of dollars, check out the area and make sure that its ok, wells fargo is the best company that i have used and the rates are grate, its way better to own then rent, when you buy it with a morgage the deed goes in your name but they are the land holders. here is the site it even explains how to buy a home https://www.wellsfargo.com/mortgage/
3. I can speak from experience on this as we have owned 4 houses in the past few years (darn traveling job) and we have never used a Realtor. When you are selling a house, I would never use a Realtor because you (a) have to jack the price of the house up just to pay a Realtor and (b) you lose several thousands of dollars to pay the Realtor when it sells. Now when you buy a house, it's a bit different. You can either use a Realtor or not use a Realtor, the price will not affect you whatsoever. I usually try to find a house that is listed "For Sale By Owner" because the price will most likely be lower because they do not have to pay a Realtor 7%. If you borrow money with a big name bank like Chase Mortgage or Countrywide Mortgage, you will find great service, low payments, and they are easy to work with if you have any questions. The first step is to find a home and make an offer. The paperwork is pretty much in the seller's hands so don't worry about that. If the seller has a Realtor, the paperwork will be a bit more formal but "For Sale By Owner" will work too. After you have made an offer, make sure you order a home inspection to make sure nothing is wrong with the house. At the same time, you need to go to the bank (or call one of the big names above) and get pre-qualified and pre-approved for the appropriate loan amount. Take this information to the seller so they know you are really interested. You might even make a small deposit to show good faith. The official signing of the deeds, etc... will have at the title company in your area. For more information, visit HUD at http://www.hud.gov. Good luck!
4. Before you even consider a home as a good choice, have it inspected by someone with excellent credentials. They'll tell you anything and everything that's wrong with a home from the roof to the foundation and everything in between--they could end up saving you thousands of dollars, or could steer you away from a money pit. As far as for a mortgage--it all depends on how much time and leg work you're willing to put into finding out where the best deals are. If you want fast results, use a broker. If you don't mind it taking a bit longer, do it yourself by contacting banks and lenders directly, and save the middle man's fee. If you buy a house that has a real estate agency attached to it, you're also having to pay the realtor's fee. You could save several thousand dollars by finding a home on your own through your local paper (or whatever area you're looking to buy in) for "For Sale By Owner" homes. (Most people who are selling factor in (at least part) of the amount that goes to the realtor, so the house price gets jacked up). The bank who you get the loan through will pretty much take care of all the paperwork, and will let you know what you DO need to take care of during the process. Good luck, and happy "house" hunting! :)
5. you can borrow money from a bank or building society to buy a house in u.k. normally you will have to provide some savings ( approx 5% of purchase price or more ) but you can get 100% funding in some cases. the best place to look for property is in local estate agents offices in the area in which you want to buy. national websites such as rightmove.co.uk can provide useful information on buying a house and offer thousands of homes for sale. you can also buy direct from an owner of the property when they might advertise the property for sale privately. however, this will not necessarily prove save you money. there are some brokers who will source property for you bit they will normally charge a fee for their work. with regard to the legal issues- you can do your own conveyancing - information is available via internet and various publications. however, if you intend to borrow money to buy your house, the lender will insist you use a recognised solicitor / conveyancer. the cost of the legal work will vary depending on the purchase price of the property, whether it is freehold or leasehold and the area in which it is. e.g. if you bought a house in liverpool, merseyside for £100,000 the typical cost for solicitors assuming the property is freehold would be about £500.