When a home appraises for less than the offer amount, your financing may fall through, or you may have to put more money down to buy the property. A property appraisal contingency lets you back out if the appraisal comes in lower than a certain amount. » MORE: Appraisal gap: When a...
Buying a house: A step-by-step guide1. Determine why you want to buy a housePurchasing a home is a major decision that shouldn’t be taken lightly. If you’re not clear on exactly what you want out of homeownership, you could end up regretting your purchase....
Buying a house is often as intimidating as it is exciting for first-time home buyers. Before you begin shopping for a home, it’s important to know exactly what to expect and how to prepare for the 11 steps you’ll need to take to buy a home. Key Takeaways: Understanding what steps...
How to buy a house for the first timeA step-by-step guide for homebuyers.Fidelity Smart Money Key takeaways Buying a home in a competitive housing market can be tough, but with the right planning, it's still possible. Getting a good deal on a house and a mortgage often depends on ...
Whether you are looking specifically for a FSBO home or you simply fell in love with a home that happens to be FSBO, here’s how to buy a house that’s for sale by owner successfully.What to know about ‘for sale by owner’ homes...
How To Buy a Home Without a Realtor in 9 steps It’s possible to tackle the homebuying process alone, but it will take time and dedication. Here’s what you’ll need to do when buying a house without a Realtor. 1. Get familiar with the market ...
1. Determine if it’s the right time to buy a home The very first question in the homebuying process is a Shakespearean one: To buy, or not to buy? You can gauge whether it’s a good time to buy a house by looking at several personal, financial and market-based factors: ...
seek out recommendations from friends or family, or ask your real estate agent for a list of home inspectors they've worked with in the past. Getting your home inspection taken care of within the contingency period of your offer allows you to renegotiate based on the findings of the inspectio...
A homebuyer may have a contingency written into an offer to buy a house only if it passes inspection. An unsatisfactory inspection report can result from issues that were not detected when the buyer first looked at a property. There may be damage to the foundation or hidden problems such as...
If you (or you and your partner or spouse) want to buy your first home, start by determining if you are ready to make a long-term (and expensive) commitment to a house. Your short-term or long-term plans, such as starting a family or moving out of state, could inform that decision...