Is Buying Real Estate Really that Difficult?
May 8th, 2008 categories: Cincinnati, Ohio, Fairfield, Ohio, Real Estate Buying, Real Estate News, West Chester, Ohio
On May 6, 2008 the Cincinnati Enquirer’s lead article about a home buyer in trouble “Homeowner in Over Her Head” detailed the story about a buyer with mortgages on 3 homes worth 5 million dollars. She claims she was duped by her tax preparer and is now looking for assistance to correct the problem. This morning’s Letter to the Editor in the Cincinnati Enquirer readers were voicing their views and they were not too sympathetic about her plight.
Is buying real estate in greater Cincinnati, Ohio really that difficult?
No- not really.
Buyers need to educate themselves and beware of deals that sound to good to be true.
Three things to remember when purchasing a home and signing the mortgage note:
- If you applied and were turned down for a loan by 3 reputable lenders…and the 4th lender says they can put the deal together. Think twice! What is this lender doing to enhance your qualifications?
- Lenders who promise buyers that they do not have to put anything down and will walk away from the closing table with money in their pocket deserve intense scrutiny on your part. There are legitimate programs to assist buyers with good credit but very little money for a down payment- a few of them are listed below:
- Remember buying a home is like investing in the stock market- there are no guarantees. If you take an adjustable rate and assume your home will appreciate before the mortgage rate increases- you are kidding yourself.
Cincinnatians- be smart and protect yourself and your money- consult with reputable professionals and don’t get caught up in the concept of owning a home and worrying about the payment details after the closing.
Call me if you need advice or direction (513-300-4090) or send an email.
| Discussion:
You can leave a response, or trackback from your own site.
