Tips on How to Buy a Home Auburn NY

Source: Business Wire
Publication date: May 20, 2009

ForSaleByOwner.com (http://www.ForSaleByOwner.com), the leading real estate "by owner" website, is reminding homebuyers that they do not need a real estate agent to buy real estate. With "by owner" real listings accounting for approximately 20% of all homes on the market, ForSaleByOwner.com offers the following tips on how to buy a "by owner" home without using a real estate agent:

1. Determine Your Budget: The first step in any home buying process is determining how much you can afford. It's important to not overextend yourself. There are many Internet-based mortgage calculators that will tell you how you can afford based upon your income, debt level, mortgage rate and available cash for a down payment.

2. Get Pre-Approved: Now that you know the price range that you can afford, you'll want to get pre-approved so that you can move forward in the home buying process. In today's market, buyers with a large down payment and a strong credit rating are more likely to obtain a mortgage. Getting a pre-approval letter is a quick process that will tell sellers that you are a serious buyer who can afford their home.

3. Search For Homes: This part is simple. Nearly 90% of all buyers use the Internet to search for a home, so ForSaleByOwner.com can help find your ideal home. Keep in mind that nearly 25% of all properties on the market are "by owner" listings, so remember these properties as you search for your next home.

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