Talk to me about buying a home

[phillmolly]

We have lived in our current home for 13 years and homes in our area are going for next to nothing, we can get a house with twice as much room as our current home for less than our current house payment.

We purchased this house from family so we didn't have to go through the usaul steps, so tell me how it works.

When we make an offer do we have to put up money at the same time, how much? We are going to get a VA loan so I don't think we will need a downpayment but how much will we need for closing cost? What is earnest money?

Thanks!

 

[GRUMPY PIRATE]

I don't know what part of the country you are in, but I would seek out a real estate professional (maybe negotiate a set fee?) and have him/her do the paperwork. Especially if you are going to orginate a VA loan. They like things done to a certain standard.

you could be in for some bad suprises if you don't.

 

[phillmolly]

We are working with a real estate agent and also a mortgage broker.

 

[GRUMPY PIRATE]

We are working with a real estate agent and also a mortgage broker.

then they should be answering all those questions..thats what you are paying them for.

if they don't, get some new ones. they are working for you and should be able to answer your questions.

Since no one knows all the details, and I would not encourage you to post it on line, the people you have should be able to advise you.

It sounds like you have already purchased one home, so it should not be that much different

good luck.