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awesome-home-buying
A list of useful resources for buying your home in a crazy market. Written by some people at Khoury Finance
https://github.com/KhouryFinance/awesome-home-buying
Last synced: 1 day ago
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Escrow and Title
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Disclosures
- EndPointClosing: 19 Title and Escrow Problems and How to Solve Them - Fairly exhaustive look at all the reasons you and the seller might fall out of escrow and drop the deal.
- Moving: A Simple Guide to Understanding Real Estate Escrow - A basic overview of what escrow is, what happens during the process, who organizes it, and why it's necessary.
- Chase: Understanding Earnest Money - Explains what earnest money deposits are, why they're a common convention, and how to protect your earnest money in case the deal falls through.
- Forbes: Title Insurance: Is It Required? - Defines what title insurance is, the various types, and what it protects you from.
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Appraisals
- Forbes: How Home Appraisals Work - Explains the fundamentals of house appraisal. Who organizes it, what occurs, who pays for it and why it's important.
- TheBalance: How to Deal with a Low Appraisal - Explains what can happen when an appraisal is below the listed price, as well as steps on how to challenge the appraisal.
- Khoury Finance: What is an appraisal gap? - Appraisal gaps and how they can impact your transaction.
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Inspections
- Forbes: How a Home Inspection Protects You - Outlines all the benefits of a home inspection from the buyer's point-of-view, as well as recommendations on what to do if the inspection uncovers issues with the home.
- Moving: Who Pays for Repairs After a Home Inspection - Explains how contract contingencies will dictate who pays for needed repairs identified by inspection.
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Closing Costs
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Guides
- Reddit: Buyer's Closing Costs 101 by /u/yes_its_him - Covers a lot of ground on what closing costs are, how they work, and how to best shop around and compare.
- SmartAsset: How to Reduce Closing Costs - Tips, tricks and strategies on how to shop around for the lowest closing costs, and how to negotiate for lower fees.
- Forbes: Mortgage Closing Costs Explained: How Much You’ll Pay - A great explainer on categories of closing costs, and the general fee amounts (will be different state-to-state).
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Calculators
- SmartAsset: Closing Cost Calculator - A simple calculator that lists out all the possible closing costs, contingent on your purchase price and location.
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HomeGuessr
- HomeGuessr - Put your inner home appraiser to the test! - Our free browser game where players guess the value of recently listed homes. See how much of a grip you have on modern property prices!
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Generalist Guides
- Michael Bluejay's Home Buyer's Guide - A commonly referenced internet classic, originally published in 1999. The author has updated it over the years and still remains a highly useful primer for home buyers.
- Investopedia: First Time Buyer's Guide - A basic guide for all the fundamentals of the home buying process. What to look out for, what needs to be done, budget considerations, and perks of being a first timer.
- RocketMortgage: Buying a Second Home - Details the differences and similarities in the home buying process for second timers. What to expect, down payment requirements, and types of designations for your second property.
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Budgeting
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Guides
- Investopedia: Set a Budget for Buying Your First Home - What an "affordable" mortgage actually looks like, as well as other expenses to keep in mind that go beyond the mortgage.
- Khoury Finance: How Much Mortgage Can I Afford? - A comprehensive guide on mortgage budgeting. Starting with the lifestyle budget, and working through what mortgage lenders look for.
- MotleyFool: Factors Determining Mortgage Approval - Details the major factors mortgage lenders look for when they're considering your risk profile.
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Calculators
- NerdWallet: How Much House Can I Afford? - A mortgage calculator that features all the bells and whistles you need to make an educated decision.
- NerdWallet: How Much House Can I Afford? - A mortgage calculator that features all the bells and whistles you need to make an educated decision.
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Mortgages
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Guides
- Investopedia: Mortgage Brokers vs. Direct Lenders - The differences between brokers and direct lenders, pros and cons, and which to choose depending on your situation.
- Time: How to Find the Best Mortgage Lender - Whether to choose a broker or a lender, and what specific items to shop around for and focus on.
- RocketMortgage: Types of Mortgages - An introductory explainer on the different types of mortgages offered by lenders, banks and brokers.
- TheMortgageReports: Types of Home Loans - A fairly exhaustive compendium of articles on all the different types of mortgages/home loans.
- /r/PersonalFinance: Mortgage Wiki - Useful resource for understanding mortgages, includes links to popular reddit threads that discuss the topic.
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Calculators
- BankRate: Mortgage Rates - A thorough calculator and explainer for comparing mortgage rates.
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Down Payments
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Calculators
- Bankrate: What is Home Down Payment - The basics of down payments, your options, and the implications of each.
- Reddit: Housing Down Payments 101 by /u/yes_its_him - A celebrated guide on down payments, how you can source them, and the consequences of a low down payment via private mortgage insurance.
- TheMortgageReports: Low to 0 Down-Payment Mortgage Options - A comprehensive look into the different types of mortgages that allow for less than a 20% down payment.
- CFPB: What is Private Mortgage Insurance (PMI)? - Explains what down-payment brackets will trigger PMI, how it works, how it's paid, and when you can refinance out of it.
- Khoury Finance: What is private mortgage insurance (PMI)? - Private Mortgage Insurance explainer, how it works, and why you might consider paying 20% down to avoid it.
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Commissions
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About Realtor Commissions
- Avoiding Real Estate Commissions - Everything we know about saving on Realtor commissions.
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Discount Real-Estate Providers
- Khoury Finance: DIY Home Buying - Save up to 50% of the buyer's side commission by taking on the fun parts of the real-estate process yourself.
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Interest Rates
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Discount Points
- Khoury Finance: What is a Mortgage Rate Buydown? - A primer on mortgage rate buydowns, how they work, and how they can benefit you in the high rate market.
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Home Search
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Platforms
- Redfin
- Zillow
- Realtor.com
- Trulia
- Homes.com
- Foreclosure.com
- FSBO.com
- Homes for Heroes
- Trulia
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Guides
- RocketMortgage: Your House Hunting Checklist - A basic guide on what you should prioritize for your home search, as well as some tips and tactics for what to keep your eyes peeled for.
- Khoury Finance: How to Search for a Home without a Realtor - A guide on how to search for homes without professional assistance. Includes tools and resources to evaluate your choices.
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House Tours
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Guides
- OpenDoor: What to Look for on a House Tour - A short guide on general best practices for private home showings; what to check out, what to ignore, and what questions you should be asking.
- Homes.com: 13 Essential Things to Look for When Viewing a House - Guide to touring houses from the perspective of a home inspector. Has a helpful infographic for major items to look out for, as well as a downloadable checklist to bring with you as your tour a property.
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Making an Offer
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Guides
- HomeBuyer: Making an Offer on a House - Fundamentals of making an offer, the steps getting there, what to understand and include in the offer -- with or without a buyer's agent.
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Contingencies
- NerdWallet: Common Real Estate Contingencies Home Buyers Should Know - Basic primer on what contingencies are, and how they can protect you from unfortunate surprises so you can pull out of the deal.
- RocketHomes: How Often do Contingent Offers Fall Through - Details possible buyer and seller contingencies, and the risks associated with having too many as a buyer in a competitive market.
- KhouryFinance: What Does it Mean to Waive an Appraisal Contingency - Appraisal Contingencies and everything you need to know about them.
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Disclosures
- Nolo: Required Disclosures When Selling U.S. Real Estate - Explains the basics of disclosures, and what disclosures are required for the seller.
- QuickenLoans: A Guide To Seller Disclosure Requirements: Forms, States And More - A comprehensive look at disclosures and state-by-state requirements with documents detailing all the necessary information.
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Categories