By Jeanette Joy Fisher

In a search for "Home Buyer's Checklist," I found articles, spread sheets, and tips with differing advice. Some of this advice includes:

1. Select a good location

2. Negotiate price

3. Check for amenities and compare to other homes

4. Inspect the house for defects

It seems that the real estate websites want you to choose a home and blindly put your money in escrow. These home buying tips should include more information for home buyers to make a solid home purchase.

If you use a knowledgeable real estate agent, he or she should protect your rights and money. If you buy from an owner, you need to take extra precautions.

Always leave yourself a way out of any home purchase contract until you get your home inspection and have time to fully investigate the property, neighborhood, and your financing terms.

Home Buyer's Checklist

1. Get your financing arranged before you look for a home. See your bank or loan officer before you see a real estate agent. You must know how much you qualify for in a mortgage and how much money you need to close. When you meet these basic requirements, you'll know the price range to shop.

2. Know as much as possible about your location including projected economic trends.

3. Shop around and make many offers. If you're buying a home to live in, remember real estate is an investment.

4. Get a home inspection from an unbiased service. One of our agents referred her husband's company who charged more than the standard fee.

5. Select your own escrow or closing services. You may save money using a title company who provides closing services and gives a discount in combination with your title policies.

6. Purchase an Owners Title Policy to cover your interest. Although you need a title policy for your mortgage lender, this only covers the loan amount. An Owners Title Policy costs little and protects your equity.

7. Know your property boundaries. In many locations, this involves getting a survey so you understand exactly what you're buying.

8. Use an attorney when you need legal advice. Most agents can advise you on local customs, not legal issues.

9. Read the Covenants, Conditions and Restrictions of the subdivision (CC&Rs). If you're purchasing a condominium, know what the association fees are and your legal rights. You need to know if you must always occupy the property or if you can rent it, if children are allowed, and what the association does. Do they paint the exterior, landscape, and send you an extra bill?

10. Do a final walk-thru before handing over your down payment and signing closing documents.

11. Read your contracts. Make sure your loan documents match your agreements with your lender.

12. Make sure the seller's move out on time. Once the sellers get their money and the house changes ownership, you have little leverage if they damage something or don't leave.

Buying a home should be a fun experience. Enjoy searching for the right home. Avoid mistakes and make a decision you'll be happy living with for many years.

Learn how to satisfy the six credit requirements to buy your dream home and multiple investment properties. Free Credit Tips for Home Financing ebook and more home purchase information: Real Estate Credit Help

Copyright © 2006 Jeanette J. Fisher