(Closed) House fell in lap..

posted 8 years ago in Home
Post # 3
Member
4123 posts
Honey bee
  • Wedding: October 2010

Google 🙂

I would find out asking price first, then you need to get pre-approved. You will need a ratified contract by the end of April to get the tax credit.  You also need to see if you’d do a conventional or FHA loan… (mainly depends on how much you can put down.) You’ll need 20% for a conventional loan. If you get a FHA, you don’t need 20% but you will pay more fee’s and usually a higher interest rate….

I would also look at a lot of other properties on the market. Make sure this is the RIGHT one and the correct price. I’d also get an appraisal and see market comps. 

A friend of mine got an AWESOME deal on his townhome through his church… so it can be good, but you’ll need to do your research, get pre-approved NOW, and possbily find yourself a realtor. There’s a LOT of legal crap and craziness in buying a home. If we didn’t have our realtor communicating for us to the lawyers, banks, title companies, etc… I’d be going even more mad than I already am! House buying is SUPER stressful… but it’s worth it 🙂

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