Housing News

Homebuyer High School

It’s just not enough to attend one.

You’re checking some properties online and you suddenly spot some interesting finds. How do you go through the complicated buying process then? Do you make an offer right up front if you think you’ve caught sight of your dream home? What would be the best financing scheme for you? All these questions can be answered if you take a homebuyer class. It provides buyer education to make the most out of their purchase.

Some believe that this is just a waste of money, thinking that all the information can be provided by online sources, books and even advice from family and friends. Honestly, they have a point but this only applies to those classes given by opportunistic private real estate companies whishing to milk their clients from their unreliable lessons.

So how do you select a good homebuyer class? A credible class will offer the following lessons:

Pre-qualification Assessment
This can help you save time and effort when finding a home to purchase. Some cities also require prospective buyers to undergo this training before undergoing loan and payment assistance.

Financial Preparation and Money Management
Learn the right way of getting ready for the toughest part of the process – financing! Make sure that by the end of the course, you’ll learn how to look at your credit, budget your income and save a portion of your money. Once you learn this, you can better estimate if you’re ready to buy or not.

Mortgage Selection
Unless you want to join the victims of the mortgage mess, selecting which mortgage provider and which mortgage best suit your needs is very important. In fact, some trainers will ask you to solve basic problems to get you ready for your mortgage approval.

Broker Selection or FSBO
Where can you get the best bang for your buck, hiring an agent to sell your property or doing it by yourself? In this class, you’ll examine which works best on your condition. Besides, it doesn’t mean that an agent can sell your house fast nor it could happen during an FSBO.

Home Owner Insurance
Check your variety of options when seeking home owner insurance. Besides, it’s not enough to have your home and risk thousands of dollars from dangers that turn your house uninhabitable.
Loan Closing
Get into the heart of the closing process and never let a minute mistake ruin your chances of owning a home. Learn how to read forms and understand the complicated clauses that you will encounter.

You wouldn’t want to pay for something that you’ll have regrets in a month’s time. By first learning the basics of home buying, you’re well guided in the process.

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