Youre ready to buy a house; how do you "Make an offer"? There is a formal process, and the real estate agent(s) will assist you. The offer will involve: Price: how much are you offering? Under what conditions? Time: when do you want to close? Move in? Financial Terms: How much are you offering in down payment? What financing details might affect the offer? Contingencies. Does the offer depend on any other events, such as the sale of your existing home? Earnest Money: what amount are you committing to show that you are in earnest about the purchase? Deadlines: how long is the offer valid? An offer will include the complete legal description of the property, and a few other formal details. Keep in mind, it is "an offer, not a deal." Buyers will frequently provide a counter-offer that changes some of the terms to meet their desired outcome.

Make sure to check a few practical risks in the decision process for a new home, including: Natural disaster risks Is it in an earthquake-prone area? Is earthquake insurance available, and how much does it cost? Likewise, are hurricanes a risk? Tornadoes? How high does the property sit, and is there a risk of flood? (Watch the video on floods here on Video-Genius.) Are there hazardous materials in the area? Building Code compliance; the house should meet local codes. Local zoning and (if applicable) homeowner association rules can also play a big role in future changes. If you envision remodeling, making an addition, or other substantial changes, be sure you understand the regulations and permits that will be involved.

Knowing the property taxes that you will pay is a key fact in evaluating the cost of owning a home. The listing information on a property usually includes the prior years property taxes. If this information is not included, contact the local assessors office, or ask your real estate professional about obtaining the figure and documentation from the seller. Figures will change tax rates vary, so factor that into your budget. Remember that tax payments and mortgage interest are usually deductible from your Federal income taxes. Your real estate professional may have advice about additional tax liabilities or benefits for a particular property.

It is difficult not to hit information overload while looking at possible home purchases. Take pictures, measure and maintain a scorecard as you go, but pay especial attention to these things: Maintenance and Potential Problems. Look critically at systems like heat and AC; appliances and working mechanisms like doors and garage doors. Observe the roof as best you can; even though it will probably be inspected, its a critical aspect of each house. Look down! Carpets and floors are big wear points. Ask lots of questions about the house, and include questions about the neighborhood and community. Look for clear and complete answers as you go. Consistent questions and a scorecard will save you time in the long run. This free Federal resource may be useful: https://www.hud.gov/sites/documents/CHECKLIST-EN.PDF

Watch this short video for some useful tips for the overall home-search process. These include: Take lots of pictures of each. Outside, key rooms, yard, garage and features you care about. Comparing pictures is faster than re-visiting. Document and "score" as you go. Measure — ideally, the same measurements for each place. The Federal Housing and Urban Development agency - HUD - provides a helpful scorecard to use. They recently moved the scorecard; heres the new web address: https://www.hud.gov/sites/documents/CHECKLIST-EN.PDF Alternatively, keeping record on a smartphone with an app or spreadsheet may facilitate the process, especially for couples and families.

Whether its a real walk-through or a virtual walk-through, theres no substitute for seeing a prospective home. Keep your own list of requirements in mind, but also size up and record these things about each: Do the numbers of bedrooms, offices and bathrooms meet or exceed your requirements? Do the other rooms and features provide the space you need now and later? Will your furniture fit, and fit well? Does the structure look solid? Are appliances, heat/AC and other systems in good working order? Are there obvious outstanding repairs? These might be negotiated in the purchase process. How do yards, decks and garage spaces stack up against your needs? You may save time by measuring and recording the results, especially for key rooms or those that are questionable fits. It can be especially helpful to envision the place in very different seasons. What will this be like in snow? Rain? Heat? Save yourself time by "keeping score", with consistent notes and measurements for each place that youre really going to consider.

Learning everything about a community in making a home-buying decision can be tough. Here are some tips: Visit the library. Community libraries are a great way to get the pulse of a place — resources, local events, and more. Contact schools. If the schools will be part of your life in a new place, connect with them directly. Try the Chamber of Commerce. Many communities maintain a formal Chamber of Commerce, and helping someone understand what the community has to offer is their job. Welcome kits, maps and other information may save you time. And of course, talk to real estate professionals. Being a local expert is their job.

When you buy a home, you also buy the neighborhood and the community where the home is located. Its not just a real-estate purchase, its a lifestyle decision! Its best to weigh all three against the day-to-day life that suits you. Is the peace, quiet and distance of rural life more to your taste, or do you prefer closer proximity to people and activities? Are community assets such as museums, theatres, music and libraries important and close by? What access to public transportation do you need? What proximity to shopping do you prefer? If there are children in the household, home location usually affects school choices. Check the current zoning of neighborhood-to-school, and ask about zoning changes over time. In the final decision, talking with people that live in the community and neighborhood may be helpful. They will know the area well, and you may be meeting your future neighbors in the process.

REALTOR® is a registered trademark, as the ® symbol indicates. Only members of the NAR — National Association of Realtors — are allowed to use the trademark as part of their professional title. Members have access to educational resources and certifications around the complex real-estate process. They are also required to adhere to a Code of Ethics. According to NAR, their aim is to be experts in real estate, trends, and their local community, in order to help both buyers and sellers succeed. Roughly half of the people who can sell real estate (by getting a state license) take the additional steps to join NAR and become a REALTOR®. You can find licensed a REALTOR® by searching the NAR directory, or browsing regional resources.

Legal assistance is required in the home-buying process in some US states, but not others. States that currently require a real estate attorney to be involved include: Alabama Connecticut Delaware District of Columbia Florida Georgia Kansas Kentucky Maine Maryland Massachusetts Mississippi New Hampshire New Jersey New York North Dakota Pennsylvania Rhode Island South Carolina Vermont Virginia West Virginia As states pass new legislation, this list may change, so check local laws. Even if a lawyer is not required, the agreements and documentation in a home purchase do involve legal commitments. Engaging a legal representative may be helpful.