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Buying and Selling a Home

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ISBN-10: 0938721623

ISBN-13: 9780938721628

Edition: 6th 1999 (Revised)

Authors: Kiplinger's Personal Finance Magazine Staff

List price: $17.95
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Book details

List price: $17.95
Edition: 6th
Copyright year: 1999
Publisher: Kiplinger Books
Binding: Paperback
Pages: 374
Size: 7.37" wide x 9.25" long x 1.05" tall
Weight: 1.408
Language: English

Introduction
For Buyers
To Buy or Not to Buy
The intangibles
Financial benefits
The risks and hard work of homeownership
Rent vs. buy
Buying a house with others
Assessing Your Resources
Figure your net worth
The down payment
How big a loan?
Prequalifying yourself
Clean up your credit report
Prequalifying with a lender
Kinds of loans
Get your earnest money ready
Home Sweet Tax Shelter
Powerful tax deductions
Adjust your withholding
Record keeping
Closing costs
Other tax angles of owning
Home-equity loans
Refinancing
Define Your Needs; Pick a Neighborhood
Make a list of needs and wants
Make a "don't want" list, too
Choosing a neighborhood
Check it out
Many Kinds of Homes
Single-family detached houses
Condominium ownership
Cooperative apartments
Manufactured homes
House-Hunting Strategies
The buyer's market
The seller's market
Shopping with a real estate agent
Using a buyer's broker
Decoding the classified ads
Handling the "sale by owner"
Touring the house
Scope out the sellers
If you encounter discrimination
Making an Offer
Getting an appraisal
Establish your priorities
Need seller financing?
Hire your own representative
Hone negotiating skills
Put it in writing
The opening bid
A smart buyer's purchase contract
Presentation and counteroffer
Relocation loans
Guaranteed sale
Bidding on a sale-by-owner house
Have the Home Inspected
Finding a good inspector
The cost
The inspection
The report
Back to the seller?
Special situations: New homes, condos and co-ops
New home warranties
Help from the FHA or VA
Pick the Right Mortgage
The basics
Fixed or adjustable rate?
Fixed-rate loans
Fixed-rate, adjustable-payment mortgages
Graduated payment mortgages
Adjustable-rate mortgages
No-down, no kidding
Making a mortgage choice
The vanishing point
Find a Lender, Get a Loan
The role of the secondary market
Sources of mortgage money
Other types of financing
Using a reporting service
Fine-tuning your choice
The loan application process
Private mortgage insurance
Credit life insurance
The wait and the tension
Get a Good Title
How the process works
Hazards of a clouded title
Less than best
Buying title insurance
Title documents you'll see at closing
Get Ready for Settlement
How to take title
Insurance on your new home
Flood insurance
Earthquake insurance
Insurance on your life
On to settlement
What to bring to closing
The final inspection
Save all the documents for your taxes
Mortgage, mortgage, who's got the mortgage?
Buying a Vacation Home
Study before you buy
Vacation-home strategies
Buying with partners
Taxes take no holiday
For Sellers
Alternatives to Selling
Tapping your home equity
Second mortgages
FHA loans
Full refinancing
Special help for senior citizens
Tax Angles of Selling a Home
Keeping Uncle Sam's hands off your profit
A tax-free vacation home?
A home-office trap
Record keeping
Filing requirements
Owner financing
What if you can't sell?
Permanent rental
Selling for a loss
Moving expenses
Polishing the Merchandise
First impressions count
Get the place in shape
Do your homework
Are disclosures needed?
Sell through an Agent or Go It Alone?
An agent's strengths
Going it alone
Steps to success for the fizzbo
Getting help
Picking a Broker, Listing Your Home
Selecting the firm
Finding the best agent
Interviewing the agents
Kinds of listings
Elements of the listing contract
Get ready to sell
Setting the Right Price
The dangers of overpricing
Study the comparables
Seller financing?
Get an appraisal?
Special advice for fizzbos
Faster ways to sell
Offer help with financing
Negotiating with Buyers
Negotiating through an agent
Considering the contract
Key elements of the contract
Take back a mortgage?
Forging an agreement
Selling on your own
Preparing for Settlement
Keep yourself informed
The papers you'll need
Index