Nolo's Essential Guide to Buying Your First Home (83 page)

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Authors: Ilona Bray,Alayna Schroeder,Marcia Stewart

Tags: #Law, #Business & Economics, #House buying, #Property, #Real Estate

BOOK: Nolo's Essential Guide to Buying Your First Home
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tax records
 
Redeeming foreclosed property
 
Red paperclip, traded for house
 
Refinancing
 
balloon loans and
 
FHA loans and
 
prepayment penalties and
 
seller financing and
 
two-step mortgages and
 
value of
 
Registrar of voters, notifying of move
 
Regulation Z form (Truth-in-Lending Disclosure Statement )
 
Remodeling
 
advice and costs
 
by contractors
 
decorating on budget
 
energy efficiency and
 
extent of remodel
 
extreme makeovers
 
FHA loan restrictions
 
gifts for
 
home equity loans for
 
information resources
 
looking at recent remodels
 
permit requirements
 
resale value and
 
tearing down vs. remodeling
 
tips on low cost
 
as up-front cost
 
zoning restrictions
 
See also
Fixer-uppers; Maintenance and repairs
 
Rental units, house visits to
 
Renting
 
vs. buying
 
CC&R rules
 
notifying landlord before moving
 
online calculators
 
renting out room in new home
 
to seller
 
when preferable
 
REO (real-estate-owned) properties
 
Repairs.
See
Maintenance and repairs
 
Repayment schedules.
See
Mortgage payments
 
Replacement cost coverage, hazard insurance
 
Resale value
 
of condominiums
 
of co-ops
 
neighborhood features that boost
 
of old houses
 
remodeling and
 
Residential plus commercial zoning
 
Responsibility concerns, of potential home buyers
 
Retainers, to pay attorneys
 
Rights of use, purchase agreement clause
 
Risk
 
factors that affect homeowners insurance rates
 
interest rates and
 
intrafamily loans and
 
Roofs
 
old, homeowner’s insurance rates and
 
replacement costs
 
Row houses.
See
Townhouses and duplexes
 
Rude, Paul A.
 
RVs, zoning restrictions on parking
 
S
 
Safety
 
home security tips
 
of inspectors
 
insurance discounts for lowered risk
 
most dangerous U.S. town
 
as neighborhood choice priority
 
researching neighborhood
 
safest U.S. towns
 
sex offenders
 
Sales price.
See
Purchase price
 
Savings, benefits of
 
Schools
 
helping kids adjust to
 
as neighborhood choice priority
 
preparing children’s transition to new
 
researching neighborhood
 
volunteering at
 
Secondary mortgage market
 
home equity loans/lines of credit and
 
intrafamily loans and
 
jumbo loans and
 
lender risk and
 
Seller carrybacks
 
Seller financing
 
assuming seller’s mortgage
 
of down payment
 
overview
 
wraparounds
 
Sellers
 
attorneys for
 
auction sales by
 
capital gains tax relief
 
clues that seller might accept lower price
 
counteroffers by
 
death of
 
earnest money deposit disputes
 
eviction of
 
failure to move out
 
FSBOs
 
in hot vs. cold markets
 
identifying reasonable
 
inspection reports from
 
inspections limited by
 
investigating
 
offer accepted by
 
offer amount and position of
 
offer presented to
 
offer rejected by
 
paid by closing agents
 
present at closing
 
present at final walk-through
 
present at house visits
 
renting property from buyer
 
unable/unwilling to transfer property
 
See also
Disclosures, seller’s; Open houses
 
Sellers, costs paid by
 
for damage to empty house
 
home warranties
 
points
 
repairs
 
title insurance
 
Seller’s agents
 
at closing
 
designated agencies
 
dual agents
 
at house visits
 
inspectors hired by
 
listing agents
 
offer rejection role
 
at open houses
 
short sale role
 
Septic systems, specialized inspections
 
Services.
See
Accessibility and services
 
Service setup costs
 
Setbacks from street, zoning restrictions
 
Settlements.
See
Closing
 
Settlement statements
 
7/23 loans
 
Sewer backups, hazard insurance exclusions
 
Sex offenders, websites for information on
 
Shoe House
 
Short sales
 
Single-family houses
 
Single-family residential zoning
 
Single persons
 
dream list for
 
houses bought by
 
sole property ownership
 
See also
Unmarried couples
 
Smoke detectors, checking
 
Smoking (tobacco)&R rules
 
Soil stability, inspections to check for
 
Sole property, ownership form
 
Sperling, Bert, background and thoughts
 
Sperling’s Best Places
 
Sprinkler systems (fire), checking
 
Staging of prospective houses
 
Starter houses
 
State bar, attorney licensing and regulation
 
State laws
 
“bad” dog liability insurance exclusion
 
builder warranties
 
community association laws
 
community property states
 
co-op agreements
 
credit report accessibility
 
disclosure requirements
 
dual real estate agents
 
earnest money deposits
 
foreclosure protections
 
inspection contingencies
 
mortgage broker licensing
 
offers as contract
 
penalties for failing to disclose
 
pest/home inspections
 
precontract inspections
 
real estate agent roles
 
real estate attorney roles
 
taking possession of home
 
title insurance
 
Steingold, Fred S., background and thoughts
 
Stepped-up basis, taxes and
 
Stigmatized properties
 
disclosure reports and
 
as overlooked
 
Stock certificates, for co-op buyers
 
Straub, Russell, background and thoughts
 
Structural problems, specialized inspections
 
Subdivision restrictions
 
Subscriptions (newspaper, magazine, other), notifying of move
 
Surveys, to settle boundary line disputes
 
T
 
Tax credits
 
for energy-efficiency improvements
 
for first-time homebuyers
 
vs. tax deductions
 
Tax deductions
 
adjusting to account for mortgage
 
for closing costs
 
closing date and
 
for co-op buyers
 
for home-based businesses
 
for house-related expenses
 
for interest on home equity debt
 
for interest on home improvement loans
 
itemizing
 
for mortgage interest
 
for moving costs
 
for PMI
 
for points
 
for prepayment penalties
 
for property taxes

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