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Download Your Free Portland Home Buyer Guide

This 60 page ebook was written to help buyers understand the process of buying a home and all the steps necessary for a successful purchase.

 

 Portland Home Buyers Guide

Table of Contents
Author’s Biography………………………………………………………………………………….2
LEGAL NOTICE ……………………………………………………………………………………..3
Disclaimer from BHHS: …………………………………………………………………………..3
Chapter 1 – Should I Buy?…………………………………………………………………………6
What’s The Difference Between Rent and a House Payment? ……………………..6
What About The Market? ………………………………………………………………………..7
Do Interest Rates Matter? ……………………………………………………………………….7
Should I Wait Or Buy Now?……………………………………………………………………..8
Moving Out of a Rental……………………………………………………………………………8
Watching the Housing Market – When To Buy?………………………………………..8
Will My Investment Payoff? ……………………………………………………………………9
Chapter 2 – Where Should I Buy? …………………………………………………………..11
Location, Location, Location…………………………………………………………………..11
Are You A City Mouse Or Country Mouse?………………………………………………12
Pros and Cons of Living In The City………………………………………………………..13
Slope, Zoning, Views, Flood Plains – ???………………………………………………….14
Chapter 3 – Can I Buy? …………………………………………………………………………16
Financing Options ……………………………………………………………………………….16
Programs Offering Assistance for First Time Home Buyers ……………………..17
Documentation Required for a Loan………………………………………………………17
Types Of Home Loans ………………………………………………………………………….18
Fixed Rate Mortgage Loans ………………………………………………………………….18
FHA; USDA and HomePath Loans…………………………………………………………18
Conventional Loans………………………………………………………………………………19
Adjustable Rate Mortgage (ARM) Loans………………………………………………..20
Balloon Mortgages ………………………………………………………………………………20
If you are Denied for a Loan………………………………………………………………….20
What Not To Do When Applying For A Home Loan ………………………………..21
Increase Your Chances For Approval …………………………………………………….21
Additional Fees For Home Loans………………………………………………………….22
Financing Terms…………………………………………………………………………………23
Chapter 4 – Finding A Buyers Agent……………………………………………………..27
Exclusive Buyer’s Agent……………………………………………………………………….27
Chapter 5 – Shopping for Homes ………………………………………………………….31
New Homes vs. Older Homes ………………………………………………………………31
New Construction……………………………………………………………………………….32
Buying Foreclosures……………………………………………………………………………32
Buying Short Sales………………………………………………………………………………33
Buying at Auction ……………………………………………………………………………….34
Lease Option……………………………………………………………………………………….35
Start With a Wish List………………………………………………………………………….35
Viewing Homes …………………………………………………………………………………..35
Taking Notes and Pictures ……………………………………………………………………36
Narrowing Down Your Choices ……………………………………………………………..36
Chapter 6 – Making an Offer …………………………………………………………………38
Low Offers…………………………………………………………………………………………..39
Making The Right Offer ……………………………………………………………………….40
Dealing With Rejection…………………………………………………………………………40
Negotiations With Sellers ……………………………………………………………………..40
Paperwork ………………………………………………………………………………………….40
Chapter 7 – Home Inspections and Repairs ……………………………………………42
The Importance Of Home Inspections……………………………………………………42
Home Warranties ………………………………………………………………………………..44
Chapter 8 – Appraisal ………………………………………………………………………….45
How Home Appraisals Can Affect Your Home Loan ……………………………….45
The Homeowner Reduces The Selling Price……………………………………………45
A Higher Down Payment ……………………………………………………………………..46
Dispute The Appraisal………………………………………………………………………….46
Chapter 9 – The Closing Process…………………………………………………………….47
Conclusion ………………………………………………………………………………………….49
Property Taxes Explained………………………………………………………………….….50

Since this book was written Berkshire Hathaway has introduced a Lease with the Option to Purchase program.  Complete details can be found on my website:  www.jolynne.com/lease-purchase

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