First Time Buyers: December 2006 Archives
While I have been reading the site for about a year, I have tended to gloss over or completely ignore the posts regarding real estate and purchasing a home. That is, until about two weeks ago when I had a conversation with my parents and decided that I want to stop being a renter and instead purchase my first home this spring. I have tried to wade through your numerous posts on Home Buying and Real Estate but am having trouble finding a nice, organized timeline of posts to read. Could you perhaps help me by providing a suggested reading list of your posts for a soon-to-be first time home buyer, in the order that
you think I should read them?
Thanks for your time. I appreciate all of the work you put into the site.
Cheers,
The organization on the site is not intended to be in any kind of order. Still, I'll go over a few of the most important ones that everyone needs to know.
Should I Buy a Home? series
Preparation, Process, and Consequences
The companion articles on why renting is for suckers and when you should not buy:
Why Renting Is For Suckers and When You Should Not Buy Real Estate
Why There is Money in Fixer Properties
Then read my basic series on loans: The Mortgage Loan Disclosure Statement, parts I and II, Truth in Lending, and HUD 1, and why you should ignore APR.
The California Mortgage Loan Disclosure Statement (MLDS) Part I, The California Mortgage Loan Disclosure Statement (MLDS) Part II, Truth In Lending, HUD 1, Why You Should Ignore APR
Now you're ready for the advice on shopping a loan, and dealing with agents. In no particular order
Payment, Interest Rate and Up Front Costs: Choosing a loan Intelligently
Mortgage and Real Estate Red Flags
Levels of Mortgage Documentation, or, Why You Should Demand to Do More Paperwork
Questions You Should Ask Prospective Loan Providers
Available Real Estate Loan Types
Fixed rate, Balloon, ARM and Hybrid Loans
One Loan Versus Two Loans
The Best Idea About Applying for a Mortgage
Loan Rate Sheets: An example, and the games lenders play
Mortgage Loan Rate Locks
Loan Quote Guarantees
On dealing With Real Estate Agents:
Buyer's Agents: What Do They Do?
Production Metrics versus Consumer Metrics
Exclusive versus Non-Exclusive Buyer's Agent Agreement
Then then while the whole thing is in process, come back and read as much as you have time for.
I'm exploring book publication, organized in more or less the chronological order you need to know everything.
(If anyone has access to a good literary agent, I'm interested!)
Want San Diego MLS?
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