1. Once you find the home you want to make an offer on, ask your agent to pull up a list of similar properties on the MLS that have recently sold. Compare list price to sold price, dayson- market, and whether the sellers paid concessions to the buyers. This gives you a starting point in determining what to offer.
Regulation of home warranties varies from state to state. In some states, the real estate commission is the regulator, while in others the department of insurance has jurisdiction. Also, the many different companies and policies have created confusion about what is and isn’t covered. As a result, many consumers have the misconception that a home warranty covers everything, down to a leaky faucet.
If you answered yes to that question, and you increased your home-shopping price, you have put yourself into financial jeopardy even before your first payment is due. Be aware that lenders, agents, and home sellers all want you to buy to the max. Resist their sales pitch. You want to be more savvy than many other home buyers and simply say no to the additional money.
A big mistake that many first-time homeowners make is to not sit down and look realistically at their financial situation to determine how large a home payment they can comfortably handle. Not everyone lives the same lifestyle and has the same financial attitudes.