New Home Buyer

[JaiHoTelangana]

I'm buying a 9 year old home in a townhome community. Can someone tell me what all the steps to be taken? What all things I should ask the seller or his agent. 

OFFER accepted by Seller.

I scheduled inspection

[JANASENA]

These are the steps I created from my home buying experiences. Hope this will help you. ATB

 

Steps to buy a Home:

 

1. Get a pre-approval letter from Bank. 

 

Pre-approval Letter:  A lender (Bank) will evaluate whether you qualifie for a loan or how much maximum amount a bank can lend you. It depends on how much pay check you draw monthly.

 

I suggest to approach DCU. They offer cheapest interest rates. Here is the website of DCU: https://www.dcu.org/index.html

 

And also search for local credit unions. Credit unions offer the best interest rates than any other bank but the thing is they will take more time to approve than the banks. But if I am you I will prefer Credit unions.

 

The process to get a pre-approval letter will take nearly from 30 to 45 Days. (You have plenty of time so no worries). After you get a pre-approval letter then start looking at the houses. The reason behind this is although you started looking at houses and you liked some of them every seller or property owner will ask you for a pre-approval letter.

 

2.  Hire a realtor who can talk on behalf of you. 

 

3.  Start you home search. You can search in websites like zillow and realtor.com. 

 

4.  Finalize a property. Before finalizing a property you need to take into consideration lots of things like:

 

Community: What kind of community is it ? I mean evaru untaru community lo ekkuva musalolla, nallolla, tellolla, maccu galla ? community lo crime rate kooda choodali. of course everyone prefers a community with low crime rate. 

 

School districts: The property you are buying should always be near to school districts may be max 5 miles. 

 

Grocery store: At least walmart , target lanti pedda grocery stores lo edokataina mee inti daggirlo undedattu choosuko.

 

Pharmacy: Pharmacy ki kooda daggiralo undedattu choosuko. 

 

Office:  As we are young we can drive to office. so doesn't matter hpow far it is but try to be within 15 miles radius. 

 

5. Home inspection: You have to get inspected your home to be by a licensed inspector. Here in Florida it costs $ 450 and also make sure you do Radon testing. (Radon is a naturally occurring radioactive gas that can cause lung cancer. You can't see or smell radon. Testing is the only way to know your level of exposure. Radon can have a big impact on indoor air quality). Radon testing costs $ 300 more. Home inspection as well as Radon testing is compulsory. After that the inspector will mail you the outcome of both the home and radon inspection. In that report you will see nuvvu konaboye intlo ekkadekkada bokkalunnayani I mean what all needs to be fixed. So offer chesedappudu aa intiki baguchethakaiyye kharchu ni minus chesi offer pettali.

 

5. Make an offer.

 

How to make an offer ? Making an offer on your dream home is not at all a rocket science. Nee inti chuttupakkala area lo recent ga ammina illu entha ki ammaru enti ani research cheyyi like sqft entha , living space entha and enni bed rooms unnayi alantivanni choosuko. Finally anni oka lekka vesukoni offer pettali. Nee Realtor gaadu ninnu force cheyyachu intha offer pedadam antha offer pedadam ani be cautious. 

 

Asking price - Inspection outcome = Offer

 

6. If the seller is ok with your offer then next emundi paper work start cheyyadame. 

[mettastar]

Anthe bane undi kaani

Asking price - inspection = offer endi vuncle.. negotiate cheyava emi

[Captain_nd_Coke]

13 minutes ago, mettastar said:

Anthe bane undi kaani

Asking price - inspection = offer endi vuncle.. negotiate cheyava emi

Uncle amazon lo work chese vallu kuda negotiate chestara uncle

[Vasthad]

59 minutes ago, JANASENA said:

These are the steps I created from my home buying experiences. Hope this will help you. ATB

 

Steps to buy a Home:

 

1. Get a pre-approval letter from Bank. 

 

Pre-approval Letter:  A lender (Bank) will evaluate whether you qualifie for a loan or how much maximum amount a bank can lend you. It depends on how much pay check you draw monthly.

 

I suggest to approach DCU. They offer cheapest interest rates. Here is the website of DCU: https://www.dcu.org/index.html

 

And also search for local credit unions. Credit unions offer the best interest rates than any other bank but the thing is they will take more time to approve than the banks. But if I am you I will prefer Credit unions.

 

The process to get a pre-approval letter will take nearly from 30 to 45 Days. (You have plenty of time so no worries). After you get a pre-approval letter then start looking at the houses. The reason behind this is although you started looking at houses and you liked some of them every seller or property owner will ask you for a pre-approval letter.

 

2.  Hire a realtor who can talk on behalf of you. 

 

3.  Start you home search. You can search in websites like zillow and realtor.com. 

 

4.  Finalize a property. Before finalizing a property you need to take into consideration lots of things like:

 

Community: What kind of community is it ? I mean evaru untaru community lo ekkuva musalolla, nallolla, tellolla, maccu galla ? community lo crime rate kooda choodali. of course everyone prefers a community with low crime rate. 

 

School districts: The property you are buying should always be near to school districts may be max 5 miles. 

 

Grocery store: At least walmart , target lanti pedda grocery stores lo edokataina mee inti daggirlo undedattu choosuko.

 

Pharmacy: Pharmacy ki kooda daggiralo undedattu choosuko. 

 

Office:  As we are young we can drive to office. so doesn't matter hpow far it is but try to be within 15 miles radius. 

 

5. Home inspection: You have to get inspected your home to be by a licensed inspector. Here in Florida it costs $ 450 and also make sure you do Radon testing. (Radon is a naturally occurring radioactive gas that can cause lung cancer. You can't see or smell radon. Testing is the only way to know your level of exposure. Radon can have a big impact on indoor air quality). Radon testing costs $ 300 more. Home inspection as well as Radon testing is compulsory. After that the inspector will mail you the outcome of both the home and radon inspection. In that report you will see nuvvu konaboye intlo ekkadekkada bokkalunnayani I mean what all needs to be fixed. So offer chesedappudu aa intiki baguchethakaiyye kharchu ni minus chesi offer pettali.

 

5. Make an offer.

 

How to make an offer ? Making an offer on your dream home is not at all a rocket science. Nee inti chuttupakkala area lo recent ga ammina illu entha ki ammaru enti ani research cheyyi like sqft entha , living space entha and enni bed rooms unnayi alantivanni choosuko. Finally anni oka lekka vesukoni offer pettali. Nee Realtor gaadu ninnu force cheyyachu intha offer pedadam antha offer pedadam ani be cautious. 

 

Asking price - Inspection outcome = Offer

 

6. If the seller is ok with your offer then next emundi paper work start cheyyadame. 

Good Info

[nildesparandom]

ee db lo chaana mandiki sontha homes unnay...fleeze come and throw some light now

[tom brady]

1 hour ago, JANASENA said:

These are the steps I created from my home buying experiences. Hope this will help you. ATB

 

Steps to buy a Home:

 

1. Get a pre-approval letter from Bank. 

 

Pre-approval Letter:  A lender (Bank) will evaluate whether you qualifie for a loan or how much maximum amount a bank can lend you. It depends on how much pay check you draw monthly.

 

I suggest to approach DCU. They offer cheapest interest rates. Here is the website of DCU: https://www.dcu.org/index.html

 

And also search for local credit unions. Credit unions offer the best interest rates than any other bank but the thing is they will take more time to approve than the banks. But if I am you I will prefer Credit unions.

 

The process to get a pre-approval letter will take nearly from 30 to 45 Days. (You have plenty of time so no worries). After you get a pre-approval letter then start looking at the houses. The reason behind this is although you started looking at houses and you liked some of them every seller or property owner will ask you for a pre-approval letter.

 

2.  Hire a realtor who can talk on behalf of you. 

 

3.  Start you home search. You can search in websites like zillow and realtor.com. 

 

4.  Finalize a property. Before finalizing a property you need to take into consideration lots of things like:

 

Community: What kind of community is it ? I mean evaru untaru community lo ekkuva musalolla, nallolla, tellolla, maccu galla ? community lo crime rate kooda choodali. of course everyone prefers a community with low crime rate. 

 

School districts: The property you are buying should always be near to school districts may be max 5 miles. 

 

Grocery store: At least walmart , target lanti pedda grocery stores lo edokataina mee inti daggirlo undedattu choosuko.

 

Pharmacy: Pharmacy ki kooda daggiralo undedattu choosuko. 

 

Office:  As we are young we can drive to office. so doesn't matter hpow far it is but try to be within 15 miles radius. 

 

5. Home inspection: You have to get inspected your home to be by a licensed inspector. Here in Florida it costs $ 450 and also make sure you do Radon testing. (Radon is a naturally occurring radioactive gas that can cause lung cancer. You can't see or smell radon. Testing is the only way to know your level of exposure. Radon can have a big impact on indoor air quality). Radon testing costs $ 300 more. Home inspection as well as Radon testing is compulsory. After that the inspector will mail you the outcome of both the home and radon inspection. In that report you will see nuvvu konaboye intlo ekkadekkada bokkalunnayani I mean what all needs to be fixed. So offer chesedappudu aa intiki baguchethakaiyye kharchu ni minus chesi offer pettali.

 

5. Make an offer.

 

How to make an offer ? Making an offer on your dream home is not at all a rocket science. Nee inti chuttupakkala area lo recent ga ammina illu entha ki ammaru enti ani research cheyyi like sqft entha , living space entha and enni bed rooms unnayi alantivanni choosuko. Finally anni oka lekka vesukoni offer pettali. Nee Realtor gaadu ninnu force cheyyachu intha offer pedadam antha offer pedadam ani be cautious. 

 

Asking price - Inspection outcome = Offer

 

6. If the seller is ok with your offer then next emundi paper work start cheyyadame. 

Asking price - insp = offer doesn't always work man....nenu last week oka illu meeda offer petta...asking price + 12k with 20% down and few more perks...reject chesaru they have better offer ani....it all depends on what market that area has....buyers or sellers...sellers market lo negotiate cheyadam kastam

[nildesparandom]

hot area aithe, asking price + 150k pettina dorakadu....

20% down aithe marchipo, chinky gaallu suitcase lo cash tho ready ga spot payment chestharu

[tom brady]

Most important thing from financial perspective is ur house shd never be a burden to you....if u wanna rent it out after few years..ur monthly payment + HOA+ taxes n expenses should equal the rent you gonna get...

 

[tom brady]

1 minute ago, nildesparandom said:

hot area aithe, asking price + 150k pettina dorakadu....

20% down aithe marchipo, chinky gaallu suitcase lo cash tho ready ga spot payment chestharu

Asking price + 150 endi man em matladtunnav...250k house ki 150+ ekkuva offer chestara

[JaiHoTelangana]

1 hour ago, tom brady said:

Most important thing from financial perspective is ur house shd never be a burden to you....if u wanna rent it out after few years..ur monthly payment + HOA+ taxes n expenses should equal the rent you gonna get...

 

Got it bro. I'm currently paying 1550 and the house I'm getting is emi plus HOA Is coming to 1650. For 100$ more i will living in my own house. The principal amount I'm paying will also considered as my savings. 

[WigsandThighs]

37 minutes ago, JaiHoTelangana said:

Got it bro. I'm currently paying 1550 and the house I'm getting is emi plus HOA Is coming to 1650. For 100$ more i will living in my own house. The principal amount I'm paying will also considered as my savings. 

Location??

[k2s]

3 hours ago, nildesparandom said:

ee db lo chaana mandiki sontha homes unnay...fleeze come and throw some light now

[k2s]

2 hours ago, nildesparandom said:

hot area aithe, asking price + 150k pettina dorakadu....

20% down aithe marchipo, chinky gaallu suitcase lo cash tho ready ga spot payment chestharu

Ekkada vethiking

[ManchiDonga]

one more important thing... hire a desi realtor from your side always... they will give 1.5% towards your closing costs...

i got 3 homes.. first home american ..only gave 1000...daniki edisi sachindi  ivvaniki

2 nd and 3rd desi ni pettukunna... 3000 ochi paddai closing cost la...