In the current market...foreclosures and short sales can take a very long time to close.  Know going into the process that if you buy a short sale, it can be anything BUT short.  A short sale means that the current Seller is short on the amount that he/she owes the bank.  They must come to an agreement with the bank/lender as to what to do in regards to the difference they owe on the home versus the amount they can sell the home for.  Be PREPARED to wait for a couple months, if not longer, for a situation like this to close. 

Good, old-fashioned, homes with actual Sellers are the best and easier transactions.  Having an actual Seller to talk to and that can make his/her own decisions holds a lot of value in this current market.  Don't assume because you're buying a bank owned home that it will be easy.  Sure, they can be great deals but they are lengthy and usually AS-IS.

• Determine how much money you can raise for your down payment, the "Good Faith" deposit and what kind of monthly payment you could make.  This can be done by contacting a lender.  Get pre-approved from your lender before starting your house hunt.  It's hard enough to find the perfect home; don't make the mistake of falling in love with a home you can't afford.

• I can give you some "tried-and-true" lender names.  Remember: Local & with a good reputation, makes for a better lender and a much faster and smoother process. 

• Don't forget to plan for a home inspection (see below), homeowner's insurance (you will need one year paid up front), property taxes, private mortgage insurance (if required), utilities, repairs, and maintenance. Your Lender should be able to assist you with these approximate costs. 

• If you have vehicle insurance sometimes you can get a discounted rate from that company for a homeowner's policy.

• Once you know your potential purchase price, email or call me and I'll get you set up for a seach.  It will take your criteria (# of Brs, Area, # of Bths, etc.) and when it finds a match, it will automatically email it to you.  You'll never miss a new listing again!  This is 24/7 and saves so many hours of searching on-line.  There is NO COST to you and does not commit you to working with me alone.

Any offer you make should be contingent  upon your approval of a qualified home inspector's report, even when buying a new or almost new home; that way if the inspections go really bad, you can get out of the contract.  I can give you a list of good inspectors if you don't know of any.  Plan on $250 - $300 for general home inspections.   There are additional inspections like Radon, Lead Based Paint, Well & Septic, etc.  Call me if you would like more information on the additional inspections and the costs.