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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

HOME ACQUISITION

PRESENTED BY

DR. AA NEIDERMEYER

aspects of home ownership
ASPECTS OF HOME OWNERSHIP
  • BUYING / RENTING
  • FINANCING
  • SELECTING
  • REFINANCING
  • SELLING
buying renting
BUYING / RENTING
  • BUYING ADVANTAGES
    • TAX SHELTER
    • LEVERAGE
    • INFLATION HEDGE
    • EXCLUSION OF GAIN
buying renting4
BUYING / RENTING
  • BUYING DISADVANTAGES
    • MAINTENANCE
    • HIGHER MONTHLY COSTS
    • LOSS RISK
    • LOSS OF FLEXIBILITY
buying renting5
BUYING / RENTING
  • RENTING ADVANTAGES
    • MORE FOR YOUR MONEY
    • FLEXIBILITY
    • INVESTMENT ALTERNATIVE(S)
    • NO MAINTENANCE
buying renting6
BUYING / RENTING
  • INVOLUNTARY RELOCATION
  • LIMITED DECORATING PREFERENCES
  • NO TAX DEDUCTIONS
  • NO LEVERAGE
financing alternatives
FINANCING ALTERNATIVES
  • UP-FRONT COSTS
    • POINTS
    • DOWN PAYMENT
    • CLOSING
  • MONTHLY PAYMENTS
    • PRINCIPAL
    • INTEREST, TAXES & INSURANCE
financing
FINANCING
  • LOAN ALTERNATIVES
    • FIXED-RATE
    • ARMs
    • BALLOONS
financing sources
FINANCING SOURCES
  • S & Ls
  • SAVINGS BANKS
  • CREDIT UNIONS
  • MORTGAGE BANKS
  • FAMILY
  • SELLER
  • COMMERCIAL BANKS
selection
SELECTION
  • SINGLE-FAMILY
  • DUPLEX
  • CONDO
  • COOPERATIVE
selection11
SELECTION
  • FINDING YOUR HOME
    • TIPS FROM ACQUAINTANCES
    • CLASSIFIEDS
    • DRIVE-BYS
    • MULTIPLE LISTING SERVICES
    • REALTOR LEADS
selection12
SELECTION
  • EVALUATION OF THE HOME
    • INSPECTING THE PROPERTY
    • APPRAISING THE PROPERTY
    • NEGOTIATING THE PRICE
the purchase
THE PURCHASE

THE PURCHASE CONTRACT

EARNEST MONEY

INSPECTION

WALK THROUGH

ESCROW MONIES

refinancing
REFINANCING
  • 1 – 2 % DOWNWARD SHIFT IN INTEREST RATES
  • SHOP FOR THE BEST DEAL
  • ITEMS ARE NEGOTIABLE
  • DO A COST / BENEFIT COMPARISON
selling your home
SELLING YOUR HOME
  • YOURSELF:
    • GET APPRAISAL
    • DO TOUCH UPS
    • DEAL WITH POTENTIAL BUYERS
    • NEGOTIATE THE SALE
selling your home16
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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