Buying a Home
Thanks to the Internet, being an informed home buyer has never been easier. No longer are buyers completely dependent upon real estate agents and mortgage lenders when it comes to gathering information. House listings are readily available online, as are interactive tools that can estimate mortgage payments and percentage rates. If you have never bought a home before, you can find step-by-step guides to the process online. Even seasoned real estate investors can turn to the Web for news and advice, as the market is constantly evolving. Whatever your needs, the Internet is an invaluable source of information for buying a house.
The purchase of a home is likely the single largest transaction you will ever make. If you're ... read more »
Finding the right neighborhood can be just as important as finding the right home. Maybe ... read more »
As your hunting begins, you will soon find that there is no shortage of properties for sale. While ... read more »
There was a time when the only way to find homes for sale was through newspapers or signs in ... read more »
Whether you hire a broker to help you purchase a home is a personal decision. Some people feel ... read more »
Now that you've found a home you like, it's time to do a little more sleuthing. As soon as possible ... read more »
Negotiating the price of a home requires the same level of research and preparation you've put into finding the home of your dreams, researching loans, and learning about the responsibilities of home ownership. Now that you're ready to negotiate, take the time to study this process carefully. If you make a bid that's too low, a seller might end the whole process. Then again, you don't want to make an offer that's too high or you might end up paying more than you would have needed to.
- The art of negotiation isn’t specific to buying a home. When researching negotiation tactics, look beyond real estate sites; if an article is offering advice for boardroom negotiation tactics, you may find it just as useful if you can apply its principles to your home buying negotiations.
- Read a bit about market trends and the recent sale history of houses in the neighborhood you are shopping in. Public records can be found online and this information may save you from overbidding.
- Make sure you know how much you can afford to spend on a home before you start the negotiation process. The "Rent or Buy?" and "Home Mortgages" sections of this Web guide both contain sites that will can help you determine what you can afford to spend each month.
- You'll have to think about interest rates when you are trying to settle on a purchase price for your home. We've included a site that lists current rates, updated weekly.
For negotiation tips …
describes how to place a bid and negotiate the asking price of a house. The information found here is written in a clear, condensed format that is easy to understand.
Home Buyer's Information Center
has many tips for negotiating the price of a house using examples with actual dollar figures, making the advice more concrete and realistic. Be patient with the site’s primitive design and distracting ads—there’s lots of helpful information here.
For a useful negotiation tool …
helps you search recent home sales in a certain neighborhood so you can see what houses are really selling for and get a better idea of the true value of a home. Enter the address and home type of your prospective house to get a list of properties that recently sold in that area with their sale price, close date, square footage, and more.
For current interest rates …
has compiled a “Weekly Primary Mortgage Market Survey” for 2007. Here you'll find information on interest rates for 15-year and 30-year fixed-rate loans, and well as five-year and one-year adjustable-rate loans.
has the story about an episode of The Office
titled "The Negotiation," in which main character Michael Scott negotiates salary with an employee armed with negotiation tactics he learned from a fictionalized Wikipedia entry. The episode brought a swarm of traffic to the real Wikipedia entry on negotiation, with many users adding the "tips" Scott had gathered. Wikipedia was forced to shut down the entry for a time.
The process of obtaining a home loan can be arduous and confusing if you're not prepared before you ... read more »
The day you close on your new home can be a very exciting one but if you want it to go smoothly ... read more »
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