I found a house on the internet that I am interestied in buying?
its in the perfect location, with the view I want. it is a bit older (25 years old) but it has character... it has been on the market for awhile (at least 2 years) and it does need some updating, but I am patient, also, It will be at least next summer before I can move. I'm 95% sure I want to buy this house, what do I need to do? its a bit out of my price range, but I think they will come down in price.. what should my next step be. ? do i need to hire a realtor? or can I do it on my own with out paying the a realtor - the sellers have it listed with an agent.
FeaturedIn.com2010-07-30T11:01:40Z
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On of the previous answers gave good information, in particular about getting a home inspection. If and when you put in an offer, and it is accepted, getting a professional home inspector to examine the property is essential. It sounds like it may be the house of your dreams, however, it's a little older, and has been on the market for 2+ years. With the home being older, and don't know if it's been vacant or lived in, but there could be issues of neglect and the like.Huge reasons why you need a home inspector to check the major areas of the home, foundation, structure, roof interior and exterior, electric, water heaters, plumbing, and air/heat systems, and other aspects of the home. The inspector's job would be to examine and identify any issues that are visible or potential issues that require repair or replacement; and identify any maintenance issues, as well as any potential for fire or safety hazards. Therefore, I would also have a qualified home inspector check for the presence of mold, termites and do radon testing with the inspection.
After getting the inspection, hopefully, you still like the home as much as you do now. If there are no issues found in the home inspection report then that's good; however if there are, then ask for the seller to repair those things found, and/or give reasonable credits to repair. In that case you would need to get quotes from a knowledgeable contractor, and unless you are comfortable in negotiating, I would recommend you have an agent representing your interests.
Now of course, as far as this house is concerned, it may not matter unless you are either able to work some type of agreement with the seller since you will not be ready to move in for awhile, and/or it is still available when you are ready.
You do not pay a realtor the seller does. No sense putting an offer in since you cannot close for 12 months. First step is to save enough for the down payment and closing costs. A seller will not hold a house for a year
First get pre approved by a lender. No one will take you serious if you aren't pre approved. Next find a realtor to help you. If it's listed contact the listing agent for a showing. If after viewing it you still want to purchase it, then have a full inspection done. The inspection will tell you if there are issues that you may not want or be able to handle financially. Lastly, whatever you do buy, if a foreclosure or short sale, buy title insurance for yourself. Buyers always purchase insurance for the lender. Make sure you buy a policy for yourself.