Answers by Michael Miller

Inspection reports are notorious for scaring first time buyers. Minor cosmetic items are to be expected. Wear and tear on the house, settling, some cracking. The major things to look out for are water or fire damage, presence of mold or microbial growth, the ages of the water heater, furnace, AC and roof. Obviously the plumbing and electrical are high up there as well. FYI a window latch is important, the seller should fix that. I might recommend using an AI software to come up with an estimated total cost to repair all these items so you at least know what you are getting into... the joys of homeownership!!

Warranties are valuable in many scenarios. Obviously not that important with newer homes but if you are buying a home that is 10yrs or older it can be a total asset. My recommendation is to send the inspection report to the Home Warranty company BEFORE completing the purchase and asking them what needs to be addressed so that they will cover everything. Once you have that documented it is really hard for them to deny a claim.

Until you fund and record on the home it still belongs to the seller. They have the right to determine when and how you may have access except as outlined in your contract. I know it\'s a pain but you could get a P.O. Box for the interim or call and ask the Post Office to hold your mail. It\'s honestly best that your mail doesn\'t go to the current owners. They could lose it, open it or just plain throw it away.

I could go on and on here... For the average consumer you will be looking at Conventional and FHA options with FHA options have lower interest rates but higher up front fees. The qualifying standards for FHA are not as strict as CONV allowing first time home buyers, buyers with lower credit scores or higher debt to incomes to still get qualified. I think the big thing to pay attention to is that 5% and 20% down are the two best options in my opinion. Putting 6%-19% down doesn\'t change your mortgage payment significanlty enough. That money could be better used in a high yield investment. Of course everyone has different tolerance for leverage (or risk) and that is an important deciding factor.

Absolutely not. Not every agent provides the same level of service or experience. When hiring an agent you should evaluate their track record, history of sales and the types of services they provide as part of their fee (especially) with listings. More often than not you get what you pay for. The agents that have a great track record and charge top of the market usually also net their clients more money making small changes in commission negligible in the overall net sheet.

Ive mentioned this in another answer. You get what you pay for! If you are going to list your home significantly below market value then you don\'t need to hire an agent for more than a small commission. If you are looking to net the most money on your purchase or sale then be wary of the 1% agent. It\'s surprisingly expensive to be a good agent!