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Quad Cities Iowa and Illinois Real Estate
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Questions Buyers May Have |
| How much home can I afford? |
| You¿ll need to talk to a lender to establish exactly how much home you can afford. However, you can do a rough estimate by multiplying your gross monthly income (before taxes and other deductions) by 28%. Some loan programs will allow you to go higher, but if you have a heavy debt loan you may have to go lower.
Why do I need to have inspections since the lender sends out an appraiser anyway? |
| Yes, the lender will send an appraiser to look at the house, but he or she is there primarily to determine value¿to keep you from over paying. An inspector looks over the house to find problems that you may not have seen when you looked at it. An inspector will also point out routine maintenance items that you may want to do after you close on the house.
What if there is nothing on the market similar to what we want? |
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We know that there aren¿t too many homes on the market at any one time. That¿s why we watch for new listings that our buyers might like. Because of the competition that can occur when a perfect home comes on the market it¿s smart to be pre-approved and ready to move fast when your Real Estate Professional tells you about a great new listing. Note: If you are looking for something that really is impossible, we¿ll let you know so you can change either your price range or what you¿re looking for.
I have some bad credit. How can I buy a home? |
| It may be a little harder to get a loan, but there are programs for people with some bad credit. The interest rate or amount of required down payment may be a little higher, but you can usually get a house.
How do I keep from buying a home with problems that will be expensive to fix? |
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That¿s simple to prevent. Look the house over very well yourself to see if you want to ask for anything in the contract. Then you also need to have inspections done to find problems that you might not have noticed. Then you can negotiate with the seller to get the home repaired. If there are major problems that the seller won¿t repair, you will be able to get out of the contract. |
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© 1998-2006, L.S.G. Enterprises, Inc. |
| About the Author: Linda Grissette is an active real estate broker in Bartlesville, Oklahoma. As the owner of VIP Real Estate Group, she is exploring exciting new concepts to improve the profitability of real estate companies and associates. She has been in real estate since 1981, beginning her career in St. Charles Country, Missouri. Linda is also the owner of Real Estate Career Development and has developed some exciting new products to help real estate professionals. |
| Terms of Use: Linda does not mind other web sites using these pages, as long as she is notified (Linda@VIPRealEstateOK.com) about their use. The content of the articles can only be changed to reflect your market, but you must include the copyright, "About the Author", this "Terms of Use" and all links. In fact, we want you to either change the content enough that search engines will not penalize us both for duplicate content. Another alternative would be to insure that your page is not searched by web bots. You can also just link to the page if you want. All other uses are prohibited and copyright protection will be legally enforced. If you use any of these articles and notify Linda of the use, we will put a link to your site on our links page. |
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Home Advice
Get the answers on home selling and buying.
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Dan Moore Licensed in IA & IL.
Phone
(563) 388-0007
Fax
(815) 301-3047
E-Mail Me
Mel Foster Co
210 S. 9th Ave
Eldridge, IA 52748
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