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HOME ACQUISITION. PRESENTED BY DR. AA NEIDERMEYER. ASPECTS OF HOME OWNERSHIP. BUYING / RENTING FINANCING SELECTING REFINANCING SELLING. BUYING / RENTING. BUYING ADVANTAGES TAX SHELTER LEVERAGE INFLATION HEDGE EXCLUSION OF GAIN. BUYING / RENTING. BUYING DISADVANTAGES MAINTENANCE

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Home acquisition l.jpg

HOME ACQUISITION

PRESENTED BY

DR. AA NEIDERMEYER


Aspects of home ownership l.jpg
ASPECTS OF HOME OWNERSHIP

  • BUYING / RENTING

  • FINANCING

  • SELECTING

  • REFINANCING

  • SELLING


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BUYING / RENTING

  • BUYING ADVANTAGES

    • TAX SHELTER

    • LEVERAGE

    • INFLATION HEDGE

    • EXCLUSION OF GAIN


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BUYING / RENTING

  • BUYING DISADVANTAGES

    • MAINTENANCE

    • HIGHER MONTHLY COSTS

    • LOSS RISK

    • LOSS OF FLEXIBILITY


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BUYING / RENTING

  • RENTING ADVANTAGES

    • MORE FOR YOUR MONEY

    • FLEXIBILITY

    • INVESTMENT ALTERNATIVE(S)

    • NO MAINTENANCE


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BUYING / RENTING

  • INVOLUNTARY RELOCATION

  • LIMITED DECORATING PREFERENCES

  • NO TAX DEDUCTIONS

  • NO LEVERAGE


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FINANCING ALTERNATIVES

  • UP-FRONT COSTS

    • POINTS

    • DOWN PAYMENT

    • CLOSING

  • MONTHLY PAYMENTS

    • PRINCIPAL

    • INTEREST, TAXES & INSURANCE


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FINANCING

  • LOAN ALTERNATIVES

    • FIXED-RATE

    • ARMs

    • BALLOONS


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FINANCING SOURCES

  • S & Ls

  • SAVINGS BANKS

  • CREDIT UNIONS

  • MORTGAGE BANKS

  • FAMILY

  • SELLER

  • COMMERCIAL BANKS


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SELECTION

  • SINGLE-FAMILY

  • DUPLEX

  • CONDO

  • COOPERATIVE


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SELECTION

  • FINDING YOUR HOME

    • TIPS FROM ACQUAINTANCES

    • CLASSIFIEDS

    • DRIVE-BYS

    • MULTIPLE LISTING SERVICES

    • REALTOR LEADS


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SELECTION

  • EVALUATION OF THE HOME

    • INSPECTING THE PROPERTY

    • APPRAISING THE PROPERTY

    • NEGOTIATING THE PRICE


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THE PURCHASE

THE PURCHASE CONTRACT

EARNEST MONEY

INSPECTION

WALK THROUGH

ESCROW MONIES


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REFINANCING

  • 1 – 2 % DOWNWARD SHIFT IN INTEREST RATES

  • SHOP FOR THE BEST DEAL

  • ITEMS ARE NEGOTIABLE

  • DO A COST / BENEFIT COMPARISON


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SELLING YOUR HOME

  • YOURSELF:

    • GET APPRAISAL

    • DO TOUCH UPS

    • DEAL WITH POTENTIAL BUYERS

    • NEGOTIATE THE SALE


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SELLING YOUR HOME

  • THROUGH AN AGENT:

    • SCREEN THEM

    • COMPARE COSTS ( 5 – 7 %)

    • LISTING?

      • EXCLUSIVE RIGHT TO SELL

      • EXCLUSIVE AGENCY

      • OPEN LISTING

    • ACCOUNTABILITY REQUIRED !!!


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