
Originally Posted by
DeepCSweede
Before you close on the place make sure you get a really good inspector that knows everything about the local codes and make sure they check the place thoroughly, roof, electrical, masonry, plumbing, etc. That could cost you big if you don't. I know a little bit, but I have had good and bad ones and a good one could save a bucketload.
If you haven't put in your offer, try to get the seller to pay closing costs in your offer to purchase. Many times they don't pay attention and will sign off on it. Also, when you put in your offer, make a contingency that you qualify for financing and also contingent on the inspection - if something comes up in the inspection, get the seller to pay for it or get a credit.
Regarding the agent - I disagree with the Boomer - They SHOULD work for you, but they don't they work for the commission they are getting from you. The best ones will talk you into the deal and help you overlook issues. It sucks but it is the truth. We have a family friend that is one of the best real estate agents in our area and she totally pressured my wife in closing the deal (but was extremely subtle in the process).
Shop the mortgage heavily. Avoid the big boys unless they give you a great deal but make sure you have them itemize what closing costs are going to be. Also, if you are going to escrow anything, try to close in January or February. In escrow, when you close, you are required to come up with a percentage of property taxes and/or insurance. Depending on the state, they will credit you in the purchase for the sellers share, then you may be required to put the cash in to the bank at closing. Some states will just transfer it from the close to your bank, but check on that ahead of time. If you close in January (assuming property taxes are due for December), you will only need your share of one month.
I may come up with some more, but that will head you in the right direction.