Where do I begin the process of looking for a home?

The first thing you should do is determine what you're looking for in a home. You can start by focusing your attention in the following areas:

Personal tastes: How large a home do you need? What style of architecture to you prefer? What kind of lot are you looking for? Depending on the area, you may have a choice of homes in many different styles, sizes, and settings.

Location: Are you relocating to a new town because of a new job, or to be closer to your current job? How will the location of schools, shops, and transportation affect your choice of neighborhoods? Do you prefer smaller communities or larger ones? Determining the perfect location can be overwhelming. Think it through carefully, and then consult your ERA agent. Their expertise knowledge of the area can help you narrow down your options. 

Budget: How much home can you afford without stretching your finances? Ask your Era agent to inquire about the approximate cost of property tax and homeowners insurance so that you can figure that into your budget. Allow yourself room in your budget for any minor adjustments you may want to make on a property before moving in.

 As you consider these areas, do a little research of your own. Look through magazines for ideas about home styles and features. Drive through neighborhoods that appeal to you to see what's available. Read the real estate listings in the newspaper to learn about current prices in the areas you're considering. Talk to friends and family about the features that you'd really like to have in your home. The more definite you are about what you want and need, the better your ERA agent can serve you.  

What should I consider when deciding which community I want to live in?

Good city services, nice parks and playground facilities, convenient shopping and transportation, a track record of sound development and good planning -- these are just a few considerations that are important to many people when they choose a community in which to live. Try to choose a community that fits you and your family’s personalities. At ERA.com, visitors have access to Know The Neighborhood for ERA. Neighborhood information is only a click away from every listing on our site. You may also enter a location of your choice and get neighborhood information. Complete Know The Neighborhood for ERA reports are available from ERA Member brokers across the country. Contact an ERA Seaside representative for your FREE neighborhood report.

As for individual neighborhoods within a village or city, there is no better source of information than your real estate agent. Agents know the people and the communities they serve, and chances are they can help you find a neighborhood that really suits your family's needs.  

How can I find out what homes are selling for in a particular neighborhood?

In most areas, home sales are a matter of public record -- you can get all the information you want about recent sales, including prices and listing times, by calling the county Recorder of deeds. You may also access general housing value information online at Know The Neighborhood for ERA.com. Complete reports and additional information are available at local ERA Offices.

An easier way is to ask your real estate agent. If you're interested in a particular home, an agent may be able to provide you with a list of comparables -- sale prices of homes in your area that are roughly the same size and age as the home you're considering. Although there will certainly be some differences between the homes -- the house next door may have an extra bedroom, or the one down the block may be older than the one you're looking at -- it's a good way to evaluate the seller's asking price. 

Where can I get local information?

Again, there is hardly a better source than your real estate agent. They know where the local schools are, and can provide you with valuable information about school districts, including test scores, extracurricular activities, bus service and more. Your agent can also provide you with valuable information about to go about getting your utilities connected. Another great source of local information can be found through the Chamber of Commerce for that area. And if you want to do a little searching on your own, the Internet may also be a good place to start. ERA.com has special links to Neighborhood Information. 

Where do I get information on housing market stats?

A real estate agent is a good source for finding out the status of the local housing market. So is your statewide association of Realtors, most of which are continuously compiling such statistics from local real estate boards.

For overall housing statistics, U.S. Housing Markets regularly publishes quarterly reports on home building and home buying. Your local builders association probably gets this report. If not, the housing research firm is located in Canton, Mich.; call (800) 755-6269 for information; the firm also maintains an Internet site. Finally, check with the U.S. Bureau of the Census in Washington, D.C ;( 301) 495-4700. The census bureau also maintains a site on the Internet. The Chicago Title company also has published a pamphlet, “Who’s Buying Homes in America.” Write Chicago Title and Trust Family of Title Insurers, 171 North Clark St., Chicago, IL 60601-3294. 

What should I ask about each home that I look at?

As a rule of thumb, ask any questions you have about specific rooms, features, or functions. Pay particular attention to areas that you feel could become "problem" areas -- additions, defects, areas that have been repaired. And above all, if you don't feel your question has been answered, ask until you do understand and are satisfied.

In most cases, your real estate agent will be able to provide you with detailed information about each home you see. Or, use the following home features worksheet to note room sizes, features that need a second look, and other comments.

 What do I need to bring along when I'm looking at homes?

Bring your own:

• Notebook and pen for note-taking
• Flashlight for seeing enclosed areas
• Tape measure for checking room sizes, clearance, etc.

Be prepared to "snoop around" a little. After all, you want to know as much as possible about the home you buy. Sellers understand that because their home is on the market, it will be looked over pretty thoroughly.

If you need to go back to a home for another look, your agent will be happy to schedule an appointment. Also, be sure to ask any questions you have about the home, even if you feel you're being nosy. You have a right to know.  

When I start visiting homes, what should I be looking for the first time through?

The house you ultimately choose to call home will play a major role in your family's life. A home can be an excellent investment, of course, but more importantly, it should fit the way you really live, with spaces and features that appeal to everyone in the family.

As you look at each home, pay close attention to these important considerations:

• Is there enough room for you now, and in the near future?
• Is the home's floor plan right for your family?
• Is there enough storage space?
• Will you have to replace the appliances?
• Is the yard the size that you want?
• Are there enough bathrooms?
• How much maintenance and/or decorating will you need to do right away? Later?
• Will your present furniture work in this home?

What should I tell the agent I'm working with about the homes I look at?

Tell the agent everything you liked and didn't like about each home you see. Don't be shy about talking about a home's shortcomings. Is the home too small for your needs? Let the agent know. Was the home perfect except for the carpeting? Let the agent know.

However, remember that the real estate agent is frequently paid by and working for the seller. The seller's agent is obligated to help secure the best price for the seller. In addition, agent's working for the seller may also report any confidences you share to the seller - including any willingness to pay a higher price should the seller not accept your initial offer(s). This is why you may want to be represented by a buyer's agent because he/she will keep your input confidential. A buyer's agent puts the interests of the buyer - not the seller - first.  

Is an older home as good a value as a new home?

It's a matter of personal preference. Both new and older homes offer distinct advantage, depending upon your unique taste and lifestyle.

New homes generally have more space in the rooms where today's families do their living, like a family room or activity area. They're usually easier to maintain, too.

However, many homes built years ago offer more total space for the money, as well as larger yards. Taxes on some older homes may also be lower.

Some people are charmed by the elegance of an older home but shy away because they're concerned about potential maintenance costs. Consider a home warranty to get the peace of mind you deserve. The ERA Home Protection Plan for ERA protects you against unexpected repairs on many home systems and appliances for a full year or more after you move in.  

How many homes should I look at before I buy?

There is no set number of homes you should look at before you decide to make an offer on one. That's why providing the agent with as many details as possible up front is so helpful. The perfect home may be waiting for you on your first visit. Even if it isn't, the house-hunting process will help you get a feeling for the homes in the community and narrow your choices to a few homes that are worth a second look.

If you're looking in more than one community, try to make the most of each house-hunting trip. Stop by the local chamber of commerce to pick up promotional literature about the community. Or ask the agent for welcome kits, maps, and information about schools, churches, and recreational facilities. Also, be sure to take along a camera and snap some pictures of all the homes you like. That will make it easier to remember and reach a decision.

Where do I get information on lease options? 

For information on lease options, “How Lease Options Benefit Realty Buyers, Sellers, Agents, and Investors” is available for from Tribune Media Services, 435N. Michigan #1500, Chicago IL 60611. 1-800-245-6536, or “Publication House”, Burlingham CA. 1-800-736-1736

If I'm moving a considerable distance, is there any way I can screen homes before I start traveling?

Yes. Today's Multiple Listing Service -- which include up to 90% or more of the homes listed in any given community -- have made it relatively easy for buyers to access detailed information on homes for sale practically anywhere in the country.

ERA has taken the MLS concept into the next generation with ERA.com, our website that features more than 4546,000 domestic listings. It's a powerful way for buyers to find the perfect home. The site also includes ERA International listings, allowing interested buyers to expand their search to other countries without ever leaving their home.

Where do I get information about finding a real estate attorney? 

To find a real estate attorney, contact your local bar association, which may offer local services. You may also ask friends or your real estate agent for their recommendations. When you have several names, call each to find out about fees and their level of experience. 

How do I find a home inspector? 

Your realty agent is one source. Inspectors are listed in the yellow pages. You can ask for referrals from friends. Ask for their credentials, such as contractor’s license or engineering certificate. Also, check out their references.

Is there any way I can protect myself against emergency repair bills in my new home?

Yes. Home warranties offer you protection against many potentially costly problems not covered by your homeowner's insurance. They've become increasingly popular in recent years, and for good reason: the coverage can save you thousands in the event of a major mechanical breakdown, at a time when your cash reserves have been depleted by your down payment and moving expenses.

What are the advantages of using a real estate agent to help me buy a home?

Buying a home is certainly one of the most rewarding experiences most of us ever have; it's also one of the most challenging. If you're buying for the first time, the process may seem overwhelming. And even if you've been through it several times, every move is different, and presents new challenges.

So, one clear advantage of enlisting the help of an agent is simply that you don't have to "go it alone." A good agent has the training, the know-how, and the experience to help you through each step of the process, and make the process of finding, buying and moving into your new home as smooth, quick, and enjoyable as it can be. Another advantage is that an agent represents a valuable source of information about market trends, communities and neighborhoods, and especially, homes for sale throughout the area. Remember, not every home seller runs an ad in the local paper or puts a sign up in the yard. In fact, many of homes actually sell before there is ever a need to advertise them. An agent offers you market expertise augmented by access to complete, regularly updated information about every home listed by area agents through the Multiple Listing Service (MLS). As you'll see in the following several questions, professional expertise and services can be of considerable help throughout the buying process

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There's so much to remember before I close. What do I have to do?

Your agent can help you with many of these items:

• Are all the necessary inspections complete?
• Are all the required repairs complete?
• When will you conduct your final walk-through inspection?
• Is your attorney satisfied that title to the property is clear (no one else has a claim on it)?
• Have you confirmed a date, time, and place for your closing?
• Who will conduct the closing?
• Is your insurance policy paid and ready to go into effect the day you close? You'll need a receipt for proof.
• What form of check should you use (and who should it be made out to) to pay for the closing costs?
• Has your closing agent told you the closing amount?
• Do you have receipts for the items you have already paid for, including your deposit and inspection fees?
• Bring your checkbook to cover any last minute extras that might have been overlooked.

What will happen on closing day?

1. The lender's agent will ask for your paid home insurance policy.
2. The agent will list the adjustments. These include the money you owe the seller (the remainder of the down payment, prepaid taxes) and what the seller owes you (unpaid taxes, prepaid rent).
3. You will sign the mortgage. This gives the lender legal rights to the property if you don't make your payments.
4. You will sign the mortgage note, the promise to repay the loan in regular monthly payments.
5. You will get title from the seller in the form of a signed deed.
6. The lender's agent will collect the closing costs from you and give you a settlement statement of all the items you have paid for.
7. The deed and mortgage will be recorded in the town or county Registry of Deeds.

What should I look for on my final walk-through?

In most cases, you'll be given the opportunity to inspect the home immediately prior to closing. At this time, it's important to check on any work the seller agreed to have done in response to your initial inspection. You should also carefully check the condition of walls and ceilings from which window treatments, pictures, or any other attached furnishings have been removed. If you find any problems, don't hesitate to bring them up at the closing. It's the seller's responsibility to correct them.

Is there anything I should do immediately after closing?

The first thing you'll want to do is have the locks changed. Also, put your deed and other important paperwork from the closing in a secure place, preferably a safe deposit box. Even though it's all on file with the county, it's smart to know where your copies are and have access to them at all times.