Sunday, January 4, 2009

The Homebuyers Kit or On The Job Communications for Business the Professions Government and Industry

The Homebuyer's Kit: Find Your Dream Home, Finance Your Purchase, Negotiate the Best Deal, Explore Online Resources

Author: Edith Lank

An up-to-date primer to use when looking to buy a home, new or used, The Homebuyer's Kit offers down-to-earth advice and commonsense strategies from two of the nation's leading real estate experts. Despite the bells and whistles of online tours and e-loans, buying a home remains the most expensive and important purchase that most people make in a lifetime. It requires a major emotional commitment as well as a financial one. Authors Edith Lank and Dena Amoruso share all the tools needed to find and buy the right home, as well as what to watch out for along the way. The Homebuyer's Kit offers vital information about every stage of the homebuying process in an easy-to-use, step-by-step fashion, and also covers all the ins and outs of buying a home, from the initial dream to the final closing. "http://www.editeur.org/onix/1.2/onix-international.dtd"> 01 Dearborn Trade Publishing

Booknews

A primer on buying a new or used home, offering step-by-step instructions for every stage of the process. Gives advice on using the Internet as a resource for real estate information, getting preapproved with a mortgage lender, finding a broker or agent, and negotiating the sales contract, and outlines the costs of home ownership and how much to spend on a home. Includes worksheets, checklists, sample forms, and loan payment tables. Lank is a broker and real estate educator. Her real estate column, , appears in the . Amoruso writes a column for the . Annotation c. Book News, Inc., Portland, OR (booknews.com)



Table of Contents:
Prefaceix
Chapter 1Starting Your Homebuying1
What Must You Have in Order to Buy?2
Shelter Two Ways: Income Tax2
How Equity Builds3
If You Wait6
Chapter 2You and the Broker9
Law of Agency10
So Where Do You Stand?11
How to Protect Yourself12
Buyers' Brokers13
Buying a New Home14
Discount and FSBO Brokers16
Pure For Sale by Owner Properties17
Yet Other Arrangements19
Chapter 3Choosing an Agent21
Tests to Apply22
Using a Lawyer24
Escrow and Title Companies25
What the Agent Does for You26
Chapter 4What Can You Spend for Your Home?31
First List Your Income32
Qualifying Ratios32
How Much Will This Carry?36
Chapter 5Costs of Home Ownership41
Escrowing Taxes and Insurance41
About Insurance42
Replacement versus Depreciated Value43
About Taxes44
Other Costs45
Repairs versus Improvements45
Risk of Overimproving47
Chapter 6What Sort of Home?49
Keeping a Marriage Together through It All50
Consider Traffic Patterns50
A Brand-New House56
Owning a Co-op, Condomium, or Town House59
Manufactured Housing61
Chapter 7Financing Your Home Purchase65
Broker Plans Strategy65
Buying for All Cash65
Buying with Nothing Down69
Picking a Mortgage70
Mortgagor and Mortgagee71
Portfolio Loans71
The Secondary Market72
Other Lenders72
So What Are Points?74
Annual Percentage Rate75
Conventional Mortgages77
Understanding Adjustable-Rate Mortgages77
30 or 15 Years82
Biweekly Mortgages83
FHA Mortgages83
VA Is for Veterans85
Farmers Home Administration (FmHA)87
Assumable Mortgages87
Private Mortgages89
Land Contracts and Lease Options89
Balloon Mortgages90
Building Your Own Home91
In-House and Preferred Builder Mortgage Companies91
A Note on Mortgage Preapproval92
Chapter 8House Hunting95
Where Are the Bargains?98
More Bargain Situations99
Location, Location, Location101
Choosing a Neighborhood102
Using the Internet103
Looking Over an Older Home103
Building Inspection Engineers110
Check Taxes110
What Else?111
Open Houses111
Stay in Touch with Your Agent112
Looking at New Homes112
Chapter 9Buying Investment Property115
Getting Started116
How Leverage Works118
Analyzing Your First Investment118
Financing Investment Property120
Risk and Decision121
Chapter 10Arriving at a Contract123
The Written Offer124
First Decision: Purchase Price125
Look for Comparables126
Allow for Contingencies127
Personal Property versus Real Estate129
What Else in Your Offer?130
Earnest Money132
Legal Provisions133
Final Jitters133
Negotiation--The Tennis Game133
Buyer's Remorse135
Chapter 11Your Mortgage Application141
Assets144
Income to Qualify144
Debts145
Credit History146
After the Application147
Chapter 12Buying Your Home at Last149
Forms of Joint Ownership150
That Clod of Earth--The Deed150
What to Do before Closing153
Closing a New Home Purchase154
What Happens at Closing?156
Long Distance Closings156
Holding Proceeds in Escrow157
Adjustments and Prorations157
A Word about the Power of the Cyber World158
Passing Papers158
Appendix AMonthly Payment Tables165
Appendix BRemaining Principal Balance181
Appendix CEPA Lead Paint Disclosure Brochure197
Appendix DHelpful Web Sites for Homebuyers213
Glossary215
Index223

See also: Building Executive Information Systems and Other Decision Support Applications or Analysis and Control of Production Systems

On-The-Job Communications for Business, the Professions, Government and Industry

Author: Ernst Jacobi

Teaches communications skills for vocational job and speaking, writing, interviewing,resumes etc.



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