This is a basic overview of what happens when you buy a house.  The whole process really isn't so intimidating if you know what's going on. ...

Make sure you know where your down payment funds will come from. If you need to sell stocks, or get the money from a relative, do it now. You'll be...

Get pre-approved with a lender. This means you will submit a loan application and most of the necessary paperwork to obtain a mortgage. Your credit...

There are a number of formulas you could use to determine how much house you can afford. You would do best, however, to speak to a mortgage lender....

A pre-qualification is a letter from a lender stating that, based on your income and a rough idea of your expenses, you may qualify for a certain...

It depends on the market. In some cases you can find a "bargain" and pay less than market value for a property. The most common examples of...

In most cases, once a property has been foreclosed on by a lender, it is placed on the market through a real estate agent. Sometimes, government...

Sometimes, government agencies, such as the U.S. Department of Housing and Urban Development (HUD) acquire properties that have been foreclosed upon....

Asking price is usually set using a CMA or Comparable Market Analysis. This method uses other properties that are similar in size, style, and...

The best way to determine the value of a distressed property is to find a value based on comparable homes in the area. If the property needs work,...

The selling price of a home is the value placed on it based upon other home sales in the area, condition of the property, and other factors. The...

An appraisal is performed by a certified appraiser who uses comparable homes in the area, condition of the property, etc. to determine an official...

A "Buyer's market" is when there are more homes for sale than buyers looking for homes. In this instance, the buyers have an advantage,...

It is the ultimately the seller's obligation to disclose any known defects or other pertinent information about the property to an agent or a...

You may want to hire an attorney to look over the paperwork that goes along with a real estate transaction, and give you any legal advice you...

Verbal offers to purchase Real Estate are not accepted in Massachusetts. All offers must be made in writing. In most transactions, a pre-printed form...

Most offers include two standard contingencies: an inspection contingency, which allows buyers to have professionals inspect the property to their...

A mortgage contingency is a stipulation that makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender. If a...

A serious buyer will put down an "Earnest Money Deposit" as a show of good faith. This shows the seller that you are "earnest" in...

In order to show good faith to the Seller, a deposit, usually, a personal check or money order, accompanies the written Offer to purchase. Many times...