America's #1 bestselling home buying guide
Are you looking to buy a house, but don't quite know where to begin? Have no fear! This new edition of Home Buying Kit For Dummies arms you with Eric Tyson and Ray Brown's time-tested advice and strategies for buying a home in current market conditions. Packed with valuable tips for getting the best deal on your new home and navigating an ever-changing housing market, it shows you how to find the right property, make smart financial decisions, and understand the latest lending requirements and tax implications.
Thanks to looser lending standards, lower down payment mortgages, and a wider selection of homes to choose from, first-time homebuyers are making a comeback in the housing market. But if you don't know a Colonial from a counter offer, the process of buying a home can be daunting. Luckily, this bestselling guide is here to take the confusion out of the process! In plain English, it provides step-by-step guidance for buying the home of your dreams, from inspecting a property to evaluating a location to making sense of loan applications, tax documents, and counter offer forms.
- Negotiate your best deal and obtain a lower down payment mortgage
- Improve your credit score
- Make sense of changing lending standards
- Take the confusion out of lending laws, mortgage rates, and marketplace conditions
Whether you're a renter, investor, or current homeowner, everything you need to plant roots in a new home sweet home is just a page away.
About the Author
Eric Tyson, MBA, is a financial counselor and the author of bestselling For Dummies books on personal finance, investing, and small business. Ray Brown, a real estate professional for more than 40 years, is a consultant and public speaker on residential real estate topics.
Table of Contents
Part I: Getting Started with Buying a Home 5
Chapter 1: Deciding Whether to Buy 7
Chapter 2: Getting Your Financial House in Order 21
Chapter 3: What Can You Afford to Buy? 37
Chapter 4: Why Home Prices Rise and Fall 65
Part II: Financing 101 79
Chapter 5: Understanding and Improving Your Credit Score 81
Chapter 6: Selecting a Mortgage 95
Chapter 7: Mortgage Quandaries, Conundrums, and Forms 123
Part III: Property, Players, and Prices 147
Chapter 8: Where and What to Buy 149
Chapter 9: Assembling an All‐Star Real Estate Team 187
Chapter 10: What’s It Worth? 215
Chapter 11: Tapping the Internet’s Best Resources 235
Part IV: Making the Deal 245
Chapter 12: Negotiating Your Best Deal 247
Chapter 13: Inspecting and Protecting Your Home 273
Chapter 14: It Ain’t Over till the Weight‐Challenged Escrow Officer Sings 293
Part V: The Part of Tens 311
Chapter 15: Ten Financial “To Do’s” After You Buy 313
Chapter 16: Ten Things to Know When Investing in Real Estate 321
Chapter 17: Ten Things to Consider When Selling Your House 327
Part VI: Appendixes 333
Appendix A: Sample Real Estate Purchase Contract 335
Appendix B: Sample Short‐Sale Addendum plus
Short‐Sale Information and Advisory 347
Appendix C: Example of a Good Inspection Report 355
Appendix D: Glossary 375
Most Helpful Customer Reviews
This is a fabulous book. I like to give it as an engagement present and to friends who are considering buying a house.