Buying a house isn't as simple as handing over your credit card and taking home your purchase. Homebuying (and selling, for that matter) is a complicated legal transaction subject to state and local regulations. An experienced real estate lawyer can guide you through the step-by-step process...
Realtors are asking buyers to immediately sign contracts committing them to be new clients. But Miller says the settlement doesn’t require that. Instead, you could sign a “showing agreement” that says you’ll pay a certain amount to be let in to see hous...
Both real estate agents and brokers can have the title of realtor if they are members of the National Association of Realtors (NAR) and follow its code of ethics. How Real Estate Commissions Work When a property is put on the market, the seller and thelisting brokersign alisting agreement,...
While it is unethical for a REALTOR to speak to another agent's client, there is nothing wrong with a buyer andseller communicating directly. They are not held to the same ethical standards. It is completely ok for a buyer and seller to directly speak to each other. Can a house be pric...
When buying a house, you may have a choice of how big of a down payment to make. Lenders now offer mortgages with down payments ranging from 20% or more to as low as 3%, and some even offer zero down payment mortgages.4 A bigger down payment can lower your monthly costs...
Moving into a new home means you’ll need to take some action right away to make sure you’ll be a successful homeowner now and in the years to come. Here are some of the first things to do when buying a house— and immediately after....
may be obvious, like a crack in the tile, while others may have been disclosed to you before the sale by the seller or thehome inspector. The seller may agree to fix some of these issues, but who’s responsible for the repairs if you find problems with a house after b...
How much should you put down on a house?There is a common misconception that you need to put down 20 percent of the purchase price. (If you’re buying a home that costs $400,000, a 20 percent down payment would be $80,000.) In fact, first-quarter 2023 data from Realtor.com ...
How to Protect Your Earnest Money When Buying a HouseLearn more When Is a House Down Payment Due and How Much Do I Need?Learn more Earnest money vs. down payment: Is there a difference? Although the terms “earnest money” and “down payment” are often interchanged. They are not the ...
We will examine the step-by-step process of buying a house. You might have some questions when you haven’t gone through the home-buying process. First-time homebuyers are in the position of learning the ropes on the go. Given that buying a house is such a vital step in one’s life...