Making the home buying process easy and customer friendly is the standard at CENTURY 21 Pacesetters Real Estate. Our customized home search system is designed to provide you with a full service, real estate experience. We will deliver a level of service unmatched in the real estate industry. This system answers all of the questions and concerns that buyers are challenged with when purchasing a home. To make the process easy, we offer to every buyer;

• In-depth purchase counseling.
• Multiple listing service providing real time listing information on ALL available homes in the area of your choice.
• Buyer agency - we will exclusively represent YOU the buyer.
• Education about the local market conditions and home buying potential in your chosen area.
• Pre-purchase market analysis, providing sold statistics to help you determine value.
• Mortgage loan pre-qualification.
• Home inspection evaluations.
• Home warranty policies.

READY TO BUY

Rent vs. Buy - As a homeowner, when filing your taxes you can deduct the interest portion of your monthly payment-and that can mean big savings. Use this article and the rent/buy calculator to help you understand

Do Your Market Research - It is important to obtain market research on the area of the home you wish to buy. This allows you to negotiate a fair price and terms for the property.

Home Buying Quiz - How Well Do You Know the Homebuying Process? Take this quiz to see how smart you are and to learn some key homebuying terms.

Buying a house is one of the biggest purchases you will probably ever make. To make a wise decision about what your mortgage and financing needs are before and during the purchase of a home, you need to know the financial facts.

FINDING YOUR DREAM HOME

• How Can I Protect Myself When Buying or Selling a Home?: It's natural to feel anxious when you buy or sell a home. As a buyer, you don't want to overpay; as a seller, you don't want to sell too low.
• Speak Up: What Information You Need Before You Buy When you're considering the purchase of an existing home, it's very easy to become blinded by your desire to close the deal on your dream house.
• Buy With Your Heart And Head: When you buy a home you look for more than just the right number of bedrooms. It's about emotions, nurturing and roots.
• Making An Offer: You've found the home you want, and your sales associate says you need to act fast. Yet you want to be as calm and objective as possible.
• Closing Expectations: You're finally in the home stretch. You've signed a purchase agreement and it's time to close on your new home.

• Property Finder Search through our affiliates' online listings to find your dream home.
• Don't Throw Away All That Paperwork! How often have you owned something and after a while, some issue comes up that finds you scrambling to find receipts, brochures, warranties, or whatever you can find on it?
• Working With Builders Understand the unique issues encountered when working with builders and new construction. Make sure your interests are represented throughout the process.
• The Prospective Homebuyer's Inspection The importance of performing your own inspection of a home before you decide to purchase it cannot be understated

You have rented for several years and you have decided it's time to buy your first home. You are tired of paying rent without anything to show for it and you really want a place of your own … a place that is all yours. Let us help you make that first step by considering some financial aspects.

Consider the Tax Break As a homeowner, when filing your taxes you can deduct the interest portion of your monthly payment-and that can mean big savings. You can deduct your property taxes, too. So look at what your monthly mortgage payment will actually be, taking your tax breaks into consideration. You may find out it's about the same as-or sometimes even less-than a rent payment! For example, with a 5% down payment, a $100,000 30-year mortgage loan at 8% interest (8.15% APR) requires a monthly principal and interest payment of $733.76. Assuming a 28% tax bracket and $150 for monthly property taxes, the after-tax monthly payment would be about $615!

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Find out prices, particulars before buying:
Inman News Features

The strength or weakness of any given housing market will determine the framework for your homebuying process. Awareness of market conditions will give you a leg up when it comes time to find, evaluate, and eventually buy that dream home.

What is a good way to measure the strength of the housing market?
Find out how long it is taking to sell homes in the area. A multiple listing service (MLS) tracks this information. If the average selling time was four months a year ago and now it's two months, this indicates that there are more buyers in the market or fewer new listings, or both. When this situation occurs, price increases usually follow. Also look at how close the selling price is to the list price. In soft markets, there's usually a larger gap between these prices than there is in a rising market. Find out if homes in the area are selling with multiple offers. This usually means that demand is outstripping the supply of available homes for sale. This situation can drive prices higher.

What is a HUD-1 form?
This is a settlement sheet that shows the net proceeds from the sale. Lenders need to verify the source of the buyers' down payment before they will grant a loan. Buyers whose down payment is coming from the sale of another property will probably be required to provide the lender with a HUD-1 form after the sale of that property.

What is a lease option?
It is a lease with an option to buy the property. It is often touted as the way to purchase a home for buyers who are short of the cash or income needed to qualify for a conventional home purchase. Here's how it works: The prospective buyers lease the property for a period of time-usually a year or more. The option agreement gives the renters the right to buy the property at the end of the lease period, or earlier, at a predetermined price. In exchange for this privilege, the prospective buyers pay a sum-called option money-to the seller. The option money is applied to the purchase price if the buyers complete the purchase; if they do not complete the transaction, the option money is forfeited and retained by the seller. The lease agreement usually calls for a portion of the rent to be credited toward the down payment.

What is a material fact?
A material fact is one that affects a buyer's decision to purchase, or the price a buyer will pay. An example of a material fact that is not readily apparent to a buyer is a leaky roof if there are no telltale signs of leakage. Maybe the sellers painted over stains on the ceiling while getting the house ready to market. In this case, the buyers would not know that the roof leaks unless the sellers told them. What is a quick way of learning about the housing market? Previewing Sunday open houses, even before you are a serious buyer, is one way to start learning about the housing market. Find out the ultimate selling price of properties you have seen.

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Buying a house can be confusing, what with finding the right number of bedrooms and bathrooms, the size yard you want and interior features that catch your fancy - all in the neighborhood you desire.

Once you've looked at a dozen or more houses and made your selection, it's time to collapse in your easy chair and put your feet up on the ottoman, right? Wrong.

Finding the house is only the beginning of the process. You also have to negotiate the price if it's a resale house, determine options and lot location if it's new construction, make a down payment, have a credit check done, arrange for financing, meet with title company officials, attend the closing, and take care of myriad other details that come up.

Along the way, you'll encounter the mysterious lingo of home-buying, terms such as "points" and "lock-in." These words mean one thing in everyday language, but something totally different in the realm of real estate.

Don't become frustrated. Instead, familiarize yourself with the jargon, before you buy a house, so you'll feel confident about the process. Don't hesitate to ask a real-estate agent, lender or other housing professional to explain exactly what he or she is talking about if you don't understand the terms.

Take the following quiz to determine your home-buying savvy. Give yourself 5 points for each correct answer.

1. POINT:
   
   1. An idea or fact presented by the real-estate agent.
   2. A charge that equals 1 percent of the loan amount.
   3. A statement of fact in a purchase contract.
   4. An addendum to the purchase contract.
2. CLOSING:
   
   1. When the buyer decides not to buy a house.
   2. When you walk over the threshold of your new house for the first time and close the front door.
   3. The process of paying earnest money and finalizing negotiations.
   4. The process of legally transferring a piece of property to the buyer from the seller.
3. DEED OF TRUST:
   
   1. A legal document needed to purchase a house in Arizona.
   2. A note signed by the mortgage company indicating it trusts the borrower will repay the loan.
   3. A note signed by the borrower showing an intent to purchase a house.
   4. A deed that lists closing costs.
4. LOCK:
   
   1. The number of days before your purchase offer expires.
   2. An electronic security device that can be opened only by real-estate agents.
   3. A period of time for which a certain interest rate is good.
   4. Securing a certain lot within a subdivision.
5. QUALIFYING:
   
   1. An event held for prospective buyers to see who can buy a house the fastest.
   2. The process of determining the sales price of a house given all its standard and upgraded features.
   3. The process of meeting the financial requirements for a home mortgage, in which a borrower's credit, income and debt, among other items, are reviewed.
   4. An event that determines whether a house conforms to building code requirements.
6. ANNUAL PERCENTAGE RATE:
   
   1. The effective rate of interest.
   2. The percentage of the principal that is paid off yearly.
   3. The relationship between the principal to the interest that is paid annually.
   4. The percentage of the borrower's annual income needed for the mortgage payments.
7. PITI IS AN ACRONYM FOR:
   
   1. Principal, interest, taxes and insurance.
   2. Principal, interest, title and insurance.
   3. Property, investment, taxes and insurance.
   4. dPayments, interest, title and insurance.
8. ANNUAL CAP:
   
   1. The dollar amount that your monthly payment on an adjustable-rate mortgage (ARM) can be raised or lowered each year.
   2. The amount that property taxes can be raised annually.
   3. A baseball-style cap, embroidered with the builder's or real-estate firm's name, that is sent to you annually as a thank-you for buying a house.
   4. The amount that an interest rate on an adjustable-rate mortgage (ARM) can be raised or lowered each year.
9. A DEBT-TO-INCOME RATIO:
   
   1. The ratio of a borrower's monthly debt compared with monthly net income. This ratio is used in determining whether the borrower can qualify for the loan.
   2. The ratio of a borrower's monthly debt compared with monthly gross income, used to figure out whether the buyer can qualify for the loan.
   3. The amount of debt in relation to the income a borrower is likely to earn during his or her life.
   4. The increase in debt that a mortgage payment adds in comparison with a stable monthly income.
10. AMORTIZATION:
    
    1. Prepayment of a loan.
    2. A schedule listing how much interest is due on a loan.
    3. A mortifying experience during the home-buying process.
    4. Repayment of a mortgage through payments made over a set period of time at regular intervals.
11. SETBACKS:
    
    1. Construction timetables that have fallen behind schedule.
    2. The amount of space that separates the front curb from the back fence of a house, as dictated by city codes.
    3. The distance that a house must be from a curb and from the property lines of neighboring houses or development, according to city codes.
    4. Problems encountered when buying a house.
12. ESCROW:
    
    1. Fancy molding used on walls and ceilings. Typically has a scrolled design.
    2. An agreement between the buyer and seller.
    3. Property, documents and/or money held for safekeeping until specified terms of a sales contract are completed.
    4. Property used as collateral.
13. HAZARD INSURANCE:
    1. Insurance required by lenders to protect against loan defaults. Can be included in the mortgage payment.
    2. Insurance covering damage from certain occurrences, such as fire and wind. Can be included in the mortgage payment.
    3. Insurance covering thefts on a building site. An upfront charge to buyers.
    4. Insurance against construction problems. An upfront charge to buyers.
14. CAVEAT EMPTOR:
    1. "Let the buyer beware."
    2. "Let the seller beware."
    3. "There is no place like home."
    4. "Let the homeowner eat caviar."
15. LOAN-TO-VALUE RATIO:
    1. comparison of mortgage interest rates offered by lenders.
    2. The mortgage amount compared with the value of other houses in a given neighborhood.
    3. The amount borrowed compared with the appraised value or sales price of a house.
    4. The relationship between the mortgage amount and the amount of appreciation a house is expected to have.

SCORING: 70 to 75: You're a pro at the home-buying game. How many houses have you purchased? Four? Six? Or are you a real-estate agent?
50 to 65: You've been through this real-estate thing before, at least once. Still, you'll need to concentrate on your next sale/purchase to make sure your eyes don't glaze over at some of the jargon.
Below 50: Remedial real-estate help is needed. Retake the quiz. Read the real-estate columns. And, please, talk to some real-estate and lending professionals before you buy a house.

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The Basics Ways to Qualify Cleaning Up Credit Problems

The Basics

There is a big difference between being pre-qualified for a mortgage and getting a pre-approval. With the housing market moving at a breakneck speed, it's wise to get pre-approved before you begin your home search process.

• Pre-qualification is just a guesstimate of how much you could afford. It simply means that you have satisfied standard lending ratios.
• Pre-approval is just that: You are approved for a mortgage before beginning to look for a home. Getting a pre-approval can lock in a preferred interest rate and permits you to act quickly once you find that perfect home.

Once you've calculated your estimated mortgage payment, is it still too high for you budget?
Here are other options:

• Choose an ARM, which usually has a lower initial interest rate.
• Consider a "temporary buy down," which can allow you to qualify for a substantially higher mortgage amount because it reduces payments during the early years of the loan.
• Restructure your debt by paying it off with savings or a gift. Or reduce your monthly payments through debt consolidation or refinancing.
• Add a non-occupant co-borrower to the mortgage note (usually a parent or close relative who won't live at your house, but who is equally obligated to repay the loan). Please note that a larger down payment may be required, depending on the loan type.

Don't be discouraged if your credit history doesn't sparkle. Lenders have a huge variety of mortgage products and special programs to help you qualify for the house you want. Let your loan officer help evaluate your credit history and provide assistance.

Here are some hints for correcting inaccuracies on your credit report:

• Request a copy of your credit report from one or all three major credit reporting agencies: Experian (formerly TRW), Equifax or TransUnion. All have 800 numbers and can tell you what they need. Sometimes there are inaccuracies on the report you can correct before getting too far into the loan process. Reports usually cost $3-$8 (depending on your state and report complexity), and take between 1-3 weeks to receive.
• For those credit issues that affect your ability to buy today, develop a budget to make your debt payments-and stick to it. It may take a year or more to clear everything up, but perseverance will pay off.

• VA Financing. If you have appropriate experience, such as two years of active duty service in the military, six years in the National Guard or reserves, or appropriate time in the Public Health Service, you may then qualify for VA financing -- loans with nothing done and no monthly mortgage insurance fees.
• FHA Loans. Open to all owner-occupants, the FHA program allows individuals to buy with 3 percent down. The up-front mortgage insurance premium (MIP) is scheduled to drop after January 1st from 2.25 percent of the loan amount to 1.5 percent -- that's $750 in savings on a $100,000 mortgage.
• Private Mortgage Insurance (PMI). You can buy with 3 to 5 percent down or less with PMI. The attraction here is the ability to buy now and not wait until a larger downpayment is available. PMI backing is used by nearly 1.5 million borrowers annually.
• State-Backed Mortgages. Loans made with guarantees from state governments come in two forms -- bond-backed mortgages that typically offer below-market interest levels and little down, and mortgage-credit certificates or "MCC" loans. MCC financing features little down, low rates, and special tax treatment for interest payments -- some interest is regarded as a tax credit while the rest is treated as a simple tax deduction. Tax credits are the equivalent of tax payments, and a very much better write-off than a tax deduction.
• 97-Percent Financing. Financing with 3 percent down is available nationwide. Such loans are made by local lenders and then bought by national mortgage buyers. Ask about Freddie Mac's "Affordable Gold 97" and "Alt 97" or the "Flexible 97" programs from Fannie Mae, as examples.
• While downpayments are an issue, in some cases so too is credit. Those with impaired credit might want to look at such programs as Neighborhood Advantage from the Bank of America and the "Creditworks" plan from the National Foundation for Credit Counseling.
• 100 Percent Financing. Freddie Mac has announced that it will buy no-money-down loans from local lenders under its Mortgage 100 program, Fannie Mae is expected to offer a similar program early next year.
• More than 100 Percent Financing. Countrywide Home Loans offers 103 percent financing with its Zero Down Plus program. GMAC has said that it will buy loans from local lenders for as much as 107 percent of the purchase price -- this means you can buy a home for $150,000 and, if qualified, obtain a loan for as much as $160,500. The additional money can be used for closing costs.
• 125 and 150 Percent Loans. Yes, amazingly, there are lenders out there who will finance the house and a whole bunch more. Such loans are generally not recommended because interest payments for loan amounts above the value secured by real estate may not be deductible -- see a tax pro for specifics. Also, if one needs to move it may take years before the equity value of the property is sufficient to repay the excess loan amount.

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It's natural to feel anxious when you buy or sell a home. As a buyer, you don't want to overpay; as a seller, you don't want to sell too low. How do you make sound investment decisions that you'll feel good about for years to come?

The best way to relieve your anxieties is to be proactive throughout the process of your real estate transaction. It's tempting to fall into a "wake me when it's over" mode. Resist the temptation. Stay involved! Only you can make the important decisions that will affect the course of your home purchase or sale.

Unless you have real estate expertise and a lot of free time on your hands, you'll be relying on various real estate professionals to assist you with your transaction, including real estate agents, mortgage lenders and home inspectors, to name a few. Hire the best team of professionals you can find. One of the best ways to find good people to work with is to ask for referrals from friends and colleagues who bought and sold recently.

Let your team know that you want to be kept well informed during the course of your working relationship. This means that you want to know about problems that may come up. And, you want to know about them sooner rather than later. Some professionals think they're doing their clients and customers a favor by insulating them from bad news. This can have negative consequences if you find out too late about a problem that could have been corrected if you'd only known about it.

FIRST-TIME TIP: Homebuyers and sellers often feel overwhelmed by the amount of paperwork that's involved in a real estate transaction. Ask for copies of the important documents you'll need to sign - - like the purchase agreement and mortgage documents -- in advance. This way you can read and understand them before you have to sign them.

You should keep copies of all transaction-related documents. If there is anything in the documents that you don't understand, ask your real estate professional for an explanation. Hire experts if you have complicated tax or legal questions that are outside the area of expertise of your real estate agent or mortgage lender.

Your purchase contract should include contingencies designed to protect you. Most contracts include contingencies for financing, inspections and title review. Don't remove these contingencies until you're confident that they have been satisfied. If you're a buyer and choose not to protect yourself with contingencies, you should understand that you might risk losing your deposit if you do not go through with the transaction.

Most buyers make a good faith-deposit when they enter into a contract to buy a home. Your contract should specify what happens to the deposit if the sale is not completed, or if contingencies are not satisfied.

More and more, homebuyers and sellers are using the Internet to help them buy and sell homes. Internet advertising is not regulated, so don't rely exclusively on the information you obtain on the Internet. Verify critical information independently.

Be diligent about seeking answers to every question you have about the property you're buying before you complete the transaction. This includes having the property thoroughly inspected. Keep a transaction log or diary of events that occur during your home purchase or sale, including a record of important phone conversations.

THE CLOSING: Be realistic about the process. Real estate transactions are rarely hassle-free, so there are bound to be unanticipated frustrations along the way. But the end result is worth it.

Dian Hymer is author of "Starting Out, The Complete Home Buyer's Guide," Chronicle Books.

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When you're considering the purchase of an existing home, it's very easy to become blinded by your desire to close the deal on your dream house. The drive-up appeal is there, the layout is just what you wanted, and there's a nice, big backyard for the kids. Because you want to make this work so badly, you fail to notice (either consciously or unconsciously) the cracks on the walls, the rotting floorboards in the living room, that musty smell lingering through the halls.

To protect yourself and your investment, you'll want to make sure that you have a professional home inspection of the property before you even give a minute's consideration to buying any house. But you can conduct your own investigation as a prospective homeowner, as well. An informal "chat" with the current owners can be even more valuable than a professional inspection. Why? Nothing beats face-to-face conversation. Granted, the current owners want to sell. But if they want to sell badly enough, they'll respond openly and honestly to your questions, and they'll be willing to resolve any issues or conduct any repairs that stand in the way of your closing the deal.

So what should you ask the current owners? The following questions will provide you with a good start. And just like any journalist conducting an interview, as you proceed with your questions, you'll often think of other points you want to cover. These questions are merely a guideline; feel free to jump off the course occasionally. Whenever possible, ask your questions in "open-ended" style. "Yes" or "no" questions are too easy for the respondent, and they don't help you as a prospective owner. And as you listen to the owner's responses, don't interrupt. Let silence creep in occasionally. Your silence tends to lead to the owner's volunteering more information.

Start with the following questions:

• Does the home have any structural damage, including rotting floor boards, cracks in the foundation, walls or basement floor? If the home has a basement, has the owner experienced any problems with moisture creeping inside the basement? This is a pricey repair, so make sure you ask.
• Has the owner experienced any problems, either recently or in the past, with a leaky roof? If the roof has leaked in the past, did the owner have the roof repaired or completely replaced? How long ago was the roof replaced? (A professional home inspector, of course, can help validate the owner's answer.) Even if the roof hasn't leaked in the past, you'll want to ask the owner how old the roof is. Most shingle rooftops (typically made of asphalt or fiberglass) have an average lifespan of 18 years. If the roof is approaching that birthday, you're looking at a tremendous expense to replace it.
• Has the owner ever had problems with termites? The vast majority of existing homes sold in the United States have been inspected for termites prior to the sale, but knowing if the home has a history of termite infestation will be of help to the professional inspector and you.
• Was the home built before 1978? Before 1960? Homebuilders routinely used lead-based paint in homes constructed prior to 1960, and although the practice had decreased in frequency by 1978, lead-based paint was still used to cover the walls of some homes constructed during the 1970s. Ask if the home has been tested for the presence of lead paint. If the owner has resided there for many years, a test probably hasn't been performed, and the owner may not have ever considered the answer to your question. Lead-based paint should be a particular concern if you have young children. If the paint begins to peel off the walls and children ingest it, you'll be tempting fate needlessly.
• And while we're on the subject of dangerous substances, ask the owner if his or her home has ever been tested for radon. Consult both your professional home inspector and the local chapter of the Environmental Protection Agency about requirements for radon in your new hometown, and whether local residents have experienced high radon levels on average.
• Are the air conditioning and heating systems in good condition? How recently were they replaced? You don't want to move in to your new home during the heat of the summer only to be greeted with a rattling air conditioner.
• Has the owner ever conducted any home improvements? Was it a do-it-yourself job, or did a professional contractor perform the work? If a professional did the job, find out the name of the company and then check its credentials. Was the owner satisfied with the quality of the work provided by the contractor?

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Webb insists that heart and mind must work together if you want to find the right home for you and your family. And you'll need to go about it as methodically and as creatively as you did when you went to school to learn something. Most of all, Webb says, "You must do your homework."

Beyond that, you must know what makes you comfortable, and what makes you uncomfortable. Get your feet solid on the ground. Webb suggests this because she believes that if you are swept away by your emotional attachment to the house, you can always fall back on whatever is concrete to give you the balance you need to make a sensible decision.

"Your best clues are in your past," Webb says. "Look back before you look forward, and before you lose your heart, think." Ask the right questions of yourself every step of the way, but particularly, if you fall in love right away. Why does this house look so good? Is it the house, or the owners' decorating, or their life? Look beyond the surface and know what details in your life and your previous homes have made life comfortable or miserable.

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The Buying process - You have the found the perfect home, you feel the need to act fast, your CENTURY 21 Realty Group sales associate is ready to help you complete the process … but you are filled with nervous anticipation. To help you understand the process from this point through closing, the steps are:

Negotiating the Buy

Offering Earnest Money

Home Inspection

Writing the original offer to purchase.

The form looks intimidating, but don't panic. Your CENTURY 21 Pacesetter sales associate will guide you right through the process from start to finish! The original Offer to Purchase is a relatively complex form. It includes all of the basic contingencies that are necessary to protect your rights as a buyer, such as - Closing is contingent upon; Your ability to obtain satisfactory financing; upon satisfactory staked survey or surveyor location report; upon seller's ability to provide clear title; upon satisfactory inspection report; upon clear termite and lead based paint inspections; plus any further conditions you may wish to add to the offer.

The Offer to Purchase puts all of the understandings between you and the seller in writing in order to prevent any misunderstandings or bad assumptions. You need to make sure you list all of the items you expect to remain to remain with the home in detail, so make notes as you tour the homes.

If you notice any easily visible repair items that you want the seller to repair prior to closing, like broken windows, bad roofs, ect., ask the seller in the original offer to make these repairs. This way they can be negotiated as part of the original offer. Note: Your inspector may find items that you were unable to see or anticipate - these repairs are negotiated as part of the inspection process.

Be prepared for counter offers. Don't let the pressure get to you. Remain patient, and let your sales associate act as your liaison with the seller and/or the seller's agent. You may need to be flexible on price, closing date, appliances and repairs.

Beware of putting contingencies in your purchase agreement. They weaken your offer. However, if you currently own a home, your offer may need to be contingent on it selling. Just be aware any contingency could take you out of the running if a non-contingent offer is presented.

Earnest Money is always part of any purchase agreement. You will be expected to submit an Earnest Money check with the original offer. It will not be cashed until you reach terms and have a signed bi-lateral contract. The Earnest Money check is then deposited in the listing Realtors escrow and held until closing. It will be applied to your down payment at closing. Your Earnest money may be forfeited to the seller if you fail to complete the transaction without legal cause.

According to law, Earnest money can be anything as long as it is acceptable to both buyer and seller. But keep in mind, it is important to make your deposit for earnest money an amount large enough so that it indicates you are serious about the purchase and that you are making the offer in good faith.

We recommend that you always reserve the right to have the property inspected by a professional home inspector. A fresh coat of paint or new carpeting may disguise serious flaws. A professional home inspection surveys of the foundation and structure, roof, exterior, major systems (electrical, heating, cooling and plumbing), and appliances that will stay with the home. You must choose the inspector and pay for the inspection yourself so the inspector is representing and working exclusively for you. You can find a list of inspectors in the yellow pages and also in our Service Provider Directory. Call several inspectors and interview them for their credentials and experience to find an inspection company that you feel will do the best job for you.

You should add a home inspection contingency to your purchase agreement. This allows you time to get the inspection completed and to receive the response. After you receive the response, discuss the repairs that you would like to ask the seller to complete. Your sales associate will help you make a response to the report and will negotiate the repairs with the seller's agent. When buying an resale home, understand that it is not new and with every home, there is normal maintenance that needs to be done on a regular basis. The inspection is to find MAJOR defects, such as a bad furnace, roof, electrical system ect. Keep that in mind when making your response.

During the Inspection. Be sure to be present at the inspection and tour the house with your inspector. They will point out potential trouble areas, as well as what's "sound." If the inspection does turn up some flaws, a seller is often willing to make repairs, but it may depend on market conditions. Take notes as you tour. Get the inspection report in writing. This document will support or deny the items you include in your response to the inspection report.

You're finally in the home stretch. You've signed a purchase agreement, inspections are over, your mortgage is approved and processed, you have your homeowners policy and it's time to close on your new home. Closing (also called the settlement) is arranged by your real estate professional and usually takes place at a title company.

What To Expect

Many people may attend the closing: you, your sales associate, the seller (or builder) and their real estate agent, and an escrow agent (closer) from the title company, and possibly attorneys for the you or the seller. During the meeting, which usually takes an hour or so, you and the seller will review all of the relevant closing papers with the closing agent, many of which you'll sign. Then, after providing a cashier's or certified check for the down payment and closing costs, your ID and Insurance Policy along with a paid receipt and the keys are passed to you and the house is yours!

What To Bring In the rush of excitement of owning a new home, don't forget to bring these following items:

If you're the buyer:

• Your drivers license photo ID
• A certified check, made payable to yourself, for the amount specified in HUD Settlement or your most recent Good Faith estimate you received from your loan officer or lender. This usually includes the balance of your down payment (less the earnest money you paid when your offer was accepted, property tax credits and any seller contributions, if applicable), then add closing cost fees and cost of other applicable services.
• Your personal checkbook so if other charges come up, you can write a personal check to cover them.
• Your new homeowner's/hazard insurance policy with proof of one year's payment (usually a receipt).
• Clear termite inspection if required by the lender
• Proof of satisfaction of any conditions placed on the loan by the lender.

• Your drivers license or photo ID
• Keys and garage door opener(s)
• Call to arrange to have the utilities taken out of your name on the date of possession (The buyer will have to call to put them in their name)