|Before You Buy Your First Home
First time buyers can be so excited about the prospect of buying a home, they may jump into the real estate pool before they are ready. Here are some quick tips to remember when considering buying your first home.
Research properties online, but don't make a decision until you've toured a number of places, talked to neighbors and developed a feel for the community.
Prepare a monthly budget, and factor in costs for taxes, association fees, insurance, maintenance and repairs, as well as the mortgage. It even helps if you try and live like this for a couple months and you might realize at the end of a couple months you have a good down payment saved.
Make sure that any contract you sign, even for a foreclosed property being sold "as is," has a clause that allows you to have an inspector examine the property, and to cancel the deal without penalty if you don't like the findings. That will give you an out should the cost of repairs be too high. Always get an inspection even if you plan on taking the home anyway. This is a large investment and you want to learn as much about it as you can.
Understand that any contract that's prepared by the seller will protect the seller's interests, not yours. Read it carefully and question any provisions that you disagree with or don't understand. It's not a bad idea to have your own attorney review it.
Realize that if you back out of a contract, you may lose your deposit and be liable for brokers' fees. If you don't have a valid reason to cancel, legally you may be obligated to go through with the sale.
Always use a buyer's agent to facilitate the transaction. Without one, you could loose thousands just by not understanding everything in a contract. Remember, you don't pay for the use of a buyer's agent. They only get paid when you find the right home and from that seller.
For more tips and information on specific Abilene homes contact our agents anytime. We are experts in the Abilene Texas real estate market.
Other Useful Resources: RE/Max Seaside Properties offers our buyers and sellers all listings in Whidbey Island real estate and has brokerage services for those looking to buy or sell on Whidbey Island. Check back often for all updates on Whidbey Island homes and properties.
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