Purchasing a Home

[Doomtints]

 

I don't agree that you won't pay more for a realtor.... prices are always passed to the buyer. I'm no fan of using realtors, they are pointless in my opinion. I bet there are for sale by owner ion Zillow to check out. Make sure you get a thorough inspection, regardless of buying from a realtor or not.

 

I bought a condo in Chicago and the seller was upside-down. I brought $8,000 to closing. The seller brought $30,000.

 

Remember that housing prices are a negotiation. Yes, the seller initially baked that $30,000 into their asking price. I talked them down. I said that based on market research, no one was ever going to pay them this $30,000 and furthermore no lender would approve it. I was lying, but it worked.

 

Sellers might bake in that 6% somewhere, but the buyer doesn't have to pay it. Plus, I doubt most sellers think this way because there are so many little fees that add up it would be fruitless to count them all. Inspections often show something that the seller must concede to address as well.

 

Regarding inspections, inspections are required by lenders. Unless you are forking out cash, there will be inspections, market research for pricing, etc. Many states also require lawyers.

Edited August 10, 2019 by Doomtints

[Vanimal46]

Today is closing day on my new house! I'm very excited! And also scared!

[Sarah]

Whenever I complain to my dad about something that needs to be fixed in my condo he just smiles and says, "Aah, the joys of home ownership."  

Edited September 6, 2019 by Sarah

[Richie the Rally Goat]

Today is closing day on my new house! I'm very excited! And also scared!

congrats! It’s only the largest purchase you’ll ever make, if only to be outdone by the next house you buy.

 

I love being a homeowner and DIYer. Even with new construction, things will come up

[LaBombo]

 

Today is closing day on my new house! I'm very excited! And also scared!

 

Don't worry, your fear and/or anxiety is just your common sense telling you in a round about way that you're ready for the responsibility of home ownership.  Congratulations, and enjoy!