2016 Home Buying Questions Answered
If you are thinking of buying in Hoover, Alabaster, Homewood, Vestavia or anywhere in the Greater Birmingham area this year then this video is a great place to start. Answering some of the common questions about the market, trends and how to begin the process.
Q: Is it a good time to buy? A: Yes, interest rates are low and banks are finally more flexible on lending policies making it affordable and easy to get in a new home.
Q: Where do I start? A: You start by meeting with and selecting a buyer's agent to walk you through the process. A good agent will make sure you understand each step and make sure you are comfortable with the decisions you are making.
Q: How much does it cost to buy? A: Your agent can help you get in touch with some great lenders but typically you will put down part of your down payment up front with an offer - this is called earnest money and is from $500 - 1% of offer price. Then you will do a home inspection in 10 days of an accepted contract which is approximately $350. Closing cost can run between $3000-7000 and can be negotiated to be paid by the seller and your down payment can vary from 0 to 5% or more of your sales price. For your specific situation and real expectations a phone call to a lender is a must. Just know that Carrie will make sure you know the out of pocket expense and monthly payments expected of you so you can make an informed decision.
For more information on the process click here or email me to request your free copy of the 2016 Home Buyers Packet!
