Advice for First Time Home Buyers
1. DON’T PANIC.
At every stage of the buying process, you have professionals available to advise, explain and assist you. This includes the real estate broker, home inspector, loan officer and most importantly, your attorney.
2. IGNORE THE HORROR STORIES.
We’ve all heard about buyers who showed up their closing only to find out that they were $3,000. short. Or how about the couple who met and spoke to their attorney for the first time at the closing. Let’s not forget the couple who went to their closing expecting a 5.5% interest rate on their mortgage, but instead see an 7.5% mortgage.
Are the horror stories true? Some are and some are exaggerated. More importantly, why did they happen in the first place? The answer lies in the quality of the legal and professional advice the client received.
3. FINDING THE RIGHT ATTORNEY.
The key is to find an attorney who you feel comfortable with and who you trust to give honest and professional advice. Contact the law offices of Jerry D. Casel and ask Jerry directly all your questions, including fees, closing costs, and accessibility such as “will you personally be handling my matter and will my telephone calls be promptly returned”.
4. THE SIX QUESTIONS YOU MUST ASK YOUR ATTORNEY:
- My offer has been accepted. What do I do next?
- Should I do a home inspection?
- Will I get my down payment back if I am unable to get my mortgage?
- What are my total closing costs and what is your legal fee?
- Will I deal directly with you throughout this transaction and will my calls be promptly returned?
- Can you estimate what my total monthly mortgage payment will be, including taxes and insurance?