Buying Your Home
---------------------------------------------------------

Whom to Contact (How to Buy) - Appraisers use several factors when estimating value including historical records, property performance, condition of the home and indices that forecast future value. more...

Property Taxes - Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property's current market value. more...

Tenants-In-Common and Co-ops - In some states, a co-owner often can force the sale of a shared property by filing a so-called partition action. more...

Fixer-Uppers - You can find distressed properties or fixer-uppers in most communities, even wealthier neighborhoods. A distressed property is one that has been poorly maintained and has a lower market value than other houses in the immediate area. more...

Lease Options - Lease options are most popular among buyers who don't have enough funds for a down payment and closing costs. more...

Common Q&A About Selling Your Home - Fixtures, any kind of personal property that is permanently attached to a house (such as drapery rods, built-in bookcases, tacked-down carpeting or a furnace), automatically stay with the house unless specified otherwise in the sales contract. more...

Condominiums & Townhomes - Using appreciation as a measure, condominiums in some areas have been as profitable an investment as single family homes in the last five years. more...

Appraisals and Market Value - Appraised value is a certified appraiser's opinion of the worth of a home at a given point in time. more...

Insurance - A basic policy can be expanded to include additional coverage, such as for floods and earthquakes and even workers' compensation for servants or contractors. more...

Finding the Right Home - Home ownership offers tax benefits as well as the freedom to make decisions about your home. more...

Making an Offer - While your low offer in a normal market might be rejected immediately, in a buyer's market a motivated seller will either accept or make a counteroffer. more...

Tax Considerations (Check with your tax advisor) - The Mortgage Credit Certificate program allows first-time home buyers to take advantage of a special federal income tax credit. more...

Negotiating and Closing a Good Deal - While your low offer in a normal market might be rejected immediately, in a buyer's market a motivated seller will either accept or make a counteroffer. more...

Foreclosures - A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage. more...

Home Inspections & Warranties - In order to find a home inspector, Dian Hymer, author of "Buying and Selling a Home A Complete Guide," Chronicle Books, San Francisco; 1994, advises looking for someone with demonstrable qualifications. more...

What You Can Afford - In order Buyers considering a foreclosure property should obtain as much information as possible from the lender about the range of bids being sought. more...

Whom to Contact (Where & What to Buy) - For a list of home builders, contact the National Association of Home Builders at 201 15th St., N.W., Washington, DC 20005; (202) 822-0200, or your local Building Industry Association office. more...

New Homes & Vacation Homes - It can be difficult to negotiate the sales price with a developer because they may claim their prices are based on fixed construction costs. more...

Escrow & Closing Costs - Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. more...

Interest Rates - Adjustable-rate mortgages "are tied to an index which is a measure of the lender's cost of borrowing money. more...