I'm looking to buy a home in sacramento ca for first time. I am a broker but I am in commercial real estate. i don't know much about residential world. any tips and advises would be greatly appreciate it and also if there's any broker incentives that i need to know about, I'd really appreciate it.

thank you.

im a noobie to the real estate world, but why don't you talk to a residential realtor since its free?

I would say, if you do not feel confident, why do not you hire a residential broker to do this for you. It will be free for and save you a lot of time and money. I would give you some tips but it would be great to have more specific question. How about if I ask you how to buy an apartment complex?!

Buying a home requires a series of steps that optimally occur in a certain order. Deviating from the normal order or skipping steps works sometimes, but understanding the logic of the normal process is a useful context for any purchase transaction.

Finding out what your financial constraints are is relatively simple, and should precede any serious house hunting. Quick answers to basic questions such as whether it makes more sense to rent or to buy and how much you can borrow are easily answered using the calculators provided by many web site. If the answers you get from this first pass are encouraging, more definitive answer to what you can buy is tremendously useful, and is best achieved by getting a formal loan pre-approval. This will be useful to define the proper price range for your search, and in a competitive market, essential to making a successful offer.

Unless you are already clear as to what you are looking for, a search of the available listings within your price range in various cities will quickly familiarize you with the tradeoffs. In one place you will get a larger house with desirable views, in another the better schools but the houses will be smaller, and so forth. You may want to find a group of houses that look promising and drive by these houses or go to open houses. After a few weekends of driving around, most people find that their preferences have become clear.

When you are starting to get a good sense of what you are looking for, it is time to find an agent that is familiar with your target area and is well-versed in all aspects of evaluating properties and negotiating purchase contracts. Good agents are backed up by a support staff of escrow coordinators, assistants, inspectors and attorneys that guarantee you a level of service that is unavailable elsewhere.

When you have found a house that you would like to purchase, and the agent has done his preliminary analysis of the pricing of the house relative to other properties, your agent should guide you through a thorough evaluation of the seller disclosures. Based on market conditions, (how many days properties are typically on the market, how many disclosure packages have been picked up or read online, number of committed offers, etc.) your agent should be able to estimate how much you will need to offer to get the property. If the seller decides to work with your offer, there is commonly a counter-offer made that alters the price, the terms of the offer or both. The initial counter-offer can be accepted or responded to with another counter-offer. This process continues until both sides have a deal that they can live with or it becomes evident that there is not going to be a meeting of the minds.

The buyer then makes an initial deposit, typically to the escrow company that acts as the repository for deeds and funds associated with the transaction. The amount of the deposit varies, though in California, when working in active markets, the deposits tend to be the full amount that can legally be attached by the seller if the buyer defaults. This amount, called liquidated damages, is 3% of the purchase price, and can be in the form of a personal check. Later deposits to escrow may need to be in "good funds" form, which means that there is no uncertainty as to the funds being received by the escrow company (cashier's checks or wire transfers satisfy this requirement).

If the contract has contingencies with respect to the condition of the property, the buyer has experts examine the property and provide appropriate reports. A general structural inspection is the most common one, though there are many others that specific properties may warrant. Among these are: roof, soils, septic, boundaries, underground tanks, structural pest (if the seller has not provided a report), and so forth. When the inspectors have determined the condition of the property, the buyer may decide not to proceed (i.e., to exercise the contingency), to renegotiate based on what is found, or simply to release the contingency and proceed with the deal.

Since you have some knowledge of real estate, getting used to buying a residential property would not be a hard adjustment for you. I believe in doing everything step by step and making sure that you don't ignore the little things. Some people like to rush into decisions because their realtor tells them that the property has already got 4 offers on it and that you have to act now. There are several step by step guides online with no personal agenda. This way you can get unbiased advice and you make decisions based on your terms. Check out this example of the guide at [url=http://www.ownamortgage.com]www.ownamortgage.com[/url]

Hiring a knowledgeable and and well experienced real estate agent is an advantage for you. So I suggest that hire agent that have more experience in the field of residential real estate, with the help of the right agent all of your questions regarding buying residential real estate will be answered.

What sometimes is overlooked is the importance of having an agent or buyer's agent who really knows the market and is an efficient negotiator. A good agent can save you thousands by negotiating or finding deals that are under market

The Hidden Protection Benefit

One thing that is seldom mentioned in relation to the buyer and the buyer agent relationship is the hidden protection benefit that lies within a fiduciary relationship between the buyer and the buyer’s agent.

This protection relates to the agents liability for any errors and/or omissions committed by the agent to the detriment of their client and a breach of the agent's fiduciary duty to their client.

The buyer who has expressly engaged the buyers agent, has legal recourse against the agent, for loses suffered by the buyer due to their agents actions and/or inactions.

In the event the buyer suffers a valid loss, they can file a lawsuit for damages, claiming the agent breached the fiduciary duty owed to the buyer.

Such a claim will be turned over to the buyer's agent insurance company for settlement which is the favoured solution to all valid claims by insurance companies, because a pretrial settlement generally cost way less then arguing a case at trial.

A true professional, because of this known liability, will ensure that all the "eyes are dotted and the tees are crossed" in the fulfillment their fiduciary duties to their client.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

first time homebuyers I can't get approve for the loan ,my friend willing to get the loan for me what's the best thing to do?and what's gonna be the problem later on if ever...

All suggestions are appreciable. Experience matters a lot, if you have a good experience in commercial sector then i don't think so you should have worry about it. Use your skills and i also suggest you to consult with a residential broker to do it for you. It definitely save big for you.

Hello everyone i am currently looking to purchase my first home in Hays Kansas. I am currently looking to get services from bmunschauctionrealty.com. I was just wondering if anyone had any suggestions or recommendations? Thank you for any replies!

I will suggest you to hire a broker for this purpose bcz he will guide you and will be better for you as well.