The 5 Worst Things You Can Do Before Buying a Home

Cynics may scoff, but getting under contract on the right home can turn even the most stoic shopper into a bit of a dreamer. From paint colors to planting a garden, picturing yourself in that property is critical for many buyers.

But leave a little room for pragmatism. Remember that getting pre-approved for a mortgage and even under contract isn’t a guarantee. That prefix is there for a reason. Loan pre-approval is not loan approval.

You’ll have more hurdles to clear before a lender legally commits to funding your home loan. Buyers who don’t know any better can inadvertently add obstacles to that path — or even kill the entire deal —between contract and closing day.

Some

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Shopping for a mortgage? Before going the ordinary route, take some time to consider an FHA loan, which comes with a benefit that can be especially appealing at a time of rising interest rates: assumability.

In other words, when it comes time to sell your home, a potential buyer may qualify to simply take over your mortgage at today's relatively low interest rate rather than resorting to a new loan, minimizing your buyer's monthly payment. That could be a strong selling point if, at that time, new mortgages charged more. Assumability could make it easier to find a buyer, and perhaps to get a higher sales price.

Unfortunately, FHA loans carry some heavy upfront costs, which need to be weighed against the uncertain

Check out this great new Mesa home for sale listed by Shawn Berkram.  For more information on Mesa real estate or other listings in the area, contact Shawn at 480.374.0994.

$95,000 - 2014 E. Arbor Avenue, Mesa    Bedrooms: 2    Bathrooms: 1    Sq. Footage: 875    Year Built: 1961    Type: Residential    MLS® Number: 5072530

OFFERED BY: PROPERTY DESCRIPTION:   Shawn Berkram Realtor, CDA, RLS 480.374.0994 Schedule a Showing Request More Info Own a cozy, move-in ready, block home in Mesa, AZ.  All appliances included! Recent upgrades: bathroom remodel, kitchen upgrades,

Let’s check in again on the cheapest homes around Seattle proper. Here’s our methodology: I search the listings for the cheapest homes currently on the market, excluding short sales, in the city of Seattle proper. Any properties that are in obvious states of extreme disrepair based on listing photos and descriptions will be excluded. This includes any listing that uses the phrases “fixer,” “rehab loan,” or “value in land.” I post the top (bottom) three, along with some overall stats on the low end of the market.

Please note: These posts should not be construed to be an advertisement or endorsement of any specific home for sale. We are merely taking a brief snapshot of the market at a given time. Also, just because a home makes it onto the “cheapest”

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