Every Question is a Good Question!

First-time homebuyer, how to buy a house

What is a First-Time Homebuyer?

A first-time homebuyer is usually someone who has not owned a home for the last 3 years, according to HUD.

Author: Kelly Parks, M.S. Real Estate and First Time Home Buyer Expert with a Master's Degree in Business Administration and Real Estate. She has been featured on the Travel Channel, Realtor.com, Fupping, Lending Tree, Medium, KRTV, Fit Small Business, and more.

What will I learn?

First-time homebuyers and repeat homebuyers will have all the information and resources they need to make better decisions throughout the entire home-buying process. This course goes over all the content in the HUD Homebuyer Education Handbook 7610.1. You may qualify for down-payment assistance and or other government programs offered by your State or by HUD (Federal Housing & Urban Development) programs. I hope this course makes a difference by being affordable, easy to use, and accessible throughout your home-buying journey! Frequently asked homebuyer questions

Lease option to buy

This might be a very bad idea*.

The first thing to do is to have an attorney look at the "lease option to buy" contract with you.

Some terms and conditions may not be favorable to the buyer.

You may not only be paying rent, but you might be responsible for repairs too, or sellers might not make repairs on time.

Many buyers lose their down payment and have to find a different place to live.

Some sellers make a lot of money re-selling properties this way.

Not recommended.

* Your attorney or housing counselor's advice is the best.

Do not let sellers talk you into bad contracts.

Typically it is better to continue renting and save additional funds to make a good purchase decision. Try not to be in a rush to buy. Learn how to buy a home.

Link to latest articles about lease-to-buy cases (predatory):

https://www.attorneygeneral.gov/taking-action/ag-shapiro-sues-progressive-leasing-for-rent-to-own-scheme-targeting-low-income-pennsylvanians/

https://www.fastcompany.com/90795531/divvy-real-estate-venture-capit

For Sale By Owner

There may be times when a seller doesn't want to hire a seller's agent. There is nothing wrong with that.

If you have a buyer's agent you might ask your agent to discuss a buyer's agent commission with the seller. If the seller is not willing to pay a buyer's agent commission, my suggestion would be to add it to the price of the home and write it in the buy/sell or purchase contract if you cannot afford to pay your own agent out of pocket.
If you have an attorney, he/she should be able to help you with the buy/sell or purchase contract.
No matter what, please be sure to get your own representation before you sign any contracts. Learn how to buy a home! Knowledge is power!

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Why is this course different?

I believe that everyone should have access to a homebuyer course that is mobile-friendly and full of information with links to resources. Homeownership builds stronger communities!

I encourage all women to be homeowners, and I believe all children and young people should learn this information too.

Learn how to buy a home! Knowledge is power!

Learning about budgeting, credit, saving, and homeownership early