Archive for September, 2011
Tips and Traps for Single Home Buyers
Not surprisingly, the National Association of Realtors (NAR) reports that nearly 30 percent of 2006 home sales were to single buyers. What’s interesting is that single females accounted for about 21 percent, compared to 9 percent for single men. Furthermore, more women (15.5 million) than men (11.8 million) live alone.
Some home buyers have the dream of buying a fixer-upper and restoring it to live-in condition or selling it for a profit. However, many who try this end up losing money or ‘‘getting chomped by the alligator,’’ as it’s called in the real estate industry.
Once you’ve made an offer on a home and the seller has accepted it, the clock starts ticking on certain deadlines written into the purchase offer. Many buyers rely on their agents or loan officers to keep track of the important dates, but if they mess up, you’re the one who pays the price of a failed deal.