Loans that pay you
When you are signing up for a loan, why not get one that pays you? If you get a home mortgage through a credit union, you may be eligible for a rebate through the CU real estate program, which pays you part of a Realtors' commission now for using one in the lender's network.
This money can be used as part of the down payment, closing costs or even as confirm written directly to you. My husband and I established about $500. Find the monthly payment using this calculator mortgage payment calculator.
Finding a deal
Not every home is a agreement, even in today's market. The key is finding homes in your price range, and then checking similar sales to see where they stack up. Homeoffersusa.com is a great tool for that. Use your Realtor to also range out deals.
The best deal is going to be the ugly house - the outdated one among wallpaper, paneling and old appliances. A little "sweat equity" and you can enlarge its worth and end up with extra money in your pocket than buying one that is move-in ready, refined and painted to perfection. If any home is too sophisticated, be wary.
The bidding war
When you finally find the house you want, one of the nastiest things that can happen is a request war - when you must bid on the house beside another anonymous buyer in hopes the seller will choose you as the top dog.
So what do you do? We talked to our Realtor, figured what equivalent home sales were in the area, discussed what the home was appeal to us and went in with our greatest offer. It was still below the list price, and we determined if the seller didn't take it, then this was not the home for us.
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