Depending on the type of loan you are obtaining, the down payment amount can vary from 3% to 25%. Talking with a lender and deciding what works best for you is the best place to start.

 

A real estate agent can assist a buyer with negotiations, be an expert guide, offer objective information, have industry relationships, expand your search power, and help through emotional moments. For a seller a real estate agent can assist with a current market analysis, negotiations, offer objective information, market your property to a National audience, have industry relationships, and help through emotional moments.

 

If you are planning on borrowing money to purchase real estate, you should first select a lender and get a letter of prequalification.

 

Earnest money is considered to be a good faith deposit. It often accompanies an offer to purchase to assure the seller that the buyer will follow through with purchase as stated in the contract. Earnest money can oftentimes be returned to the buyer if conditions of the contract are not met, however, this must be agreed by all parties of the contract. 

 

A mortgage is a way to buy a property using the property as collateral. The debtor then promises to pay the loan. The creditor will receive money back with interest over time. Most property loans range from 15-30 years. 

 

The Fair Housing Act protects people from discrimination when they are renting or buying a home, getting a mortgage, seeking housing assistance, or engaging in other housing-related activities. The Fair Housing Act prohibits discrimination in housing because of Race, Color, Natural Origin, Religion, Sex, Familial Status, and Disability.

 

If you are aware of problems or repairs needed in your home, it would be a good idea to fix them. This would be one less thing identified in a home inspection.
 

It is a good idea to depersonalize your home so that people can visualize themselves in your home.