Buying a Home

Buying a Home Part 1
Financial Math - Ms. Veltrr/Mrs. Hoben

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What do you think might be important factors to consider when deciding on a fair offer for a home?

Infographic:

10 Steps to Buying a Home

Let’s revisit the home buying steps from lesson 3. Once you have secured financing, found a real estate agent, and searched for a home, it’s time to make an offer! However, even after you’ve made an offer, there are still several steps before you can complete the purchase and move in. Review the infographic before we begin to detail these next steps.

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How to Negotiate a Home Price with a Seller

You’ve gone through the first five steps of the process and have found a home. Now it’s time to make an offer. When you put an offer in on a home, it’s not guaranteed to be accepted by the seller. The seller has an opportunity to consider your offer, as well as offers from any other potential buyer, and begin a negotiation process on both the price and other terms of the sale. Watch this video on negotiating a home price. Then, answer the questions.

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What options does a buyer have after a seller submits a counter offer?

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What is a common mistake to "try to win" a negotiation?

Article:

Common Real Estate Contingencies Home Buyers Should Know

During the negotiation process, both the buyer and seller might include contingencies to protect them during the remaining steps of the home buying process. Read the article about what contingencies are and some of the most common that might show up when buying a home. Then, answer the questions.

How to Make a Contingent Offer to Buy a Home - NerdWallet

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As a home buyer, what is the purpose of putting a contingency in a contract?

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A buyer’s market is one where there are more homes available than potential buyers.  A seller’s market is the opposite where there are many buyers with not enough homes available for sale. How does the state of the market (buyer's or seller's) affect the likelihood of a seller accepting an offer with multiple contingencies?

Infographic:

Inspection vs. Appraisal: What's the difference?

Two major contingencies during the negotiation process involve home inspections and home appraisals. Both of these steps involve a third party viewing the house, but that’s where the similarities end. Watch this video on the differences between a home inspection and a home appraisal. Then, answer the questions.

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