Posted by michael nickols on June 01, 2004 at 17:44:01:
i need help to buy a home… never bought a home can i get out of the closing cost? i’am a first time buyer i donot need to put money down how do i get out of the closing cost?
Need help 1st time buying house. - Posted by Jason
Posted by Jason on July 29, 1999 at 02:20:59:
Hello…
Like many of you I have received Carltons course and am very exicited to get started… However just in time, I am looking for a home (1st time home buyer)…
Heres the deal…
Location: Indiana
Asking Price: $97,500
Seller is now down to $93,500 (Ad says, “Motivated Seller”)
Seller has bought another house, and the house is vacant…
I have good if not excellent credit…
The house is a dream home. I dont know the FMV… Do I ask the realtor this question? I had relatives in Indiana that were shown the home for us, and they said it was beautiful…
The other homes in that area, go for about 100k at least…
Question…
Do I just get a lender to do a mortgage at around 7.5%?
Should I ask for seller financing (is that better)… I’m still reading the material I got from Carltons course, but still have so many questions.
Whats the best way to move in to this house and fast? Im afraid someone else will buy this dream house…
I could offer $5,000 down… what other costs do I need to be aware of? (first time is always tough)… Or could the down payment be including in the mortgage for the full amount of the loan?
Also, trying to be creative… how crazy is this idea…
My Offer: $5000 down… Seller finance the rest at 2% interest ?? Is this a totally ridicelous offer ? 
If not, my option. get a mortage right?
Any help is appreciated!!
Jason
Re: Need help 1st time buying house. - Posted by Richard
Posted by Richard on July 31, 1999 at 23:08:25:
OK, I’ll be the brave one. Two things bother me. You say this is your dream house but you haven’t set foot in the door yet. #2 The title of the CS course is “No Money Down” and you already have your pen in hand to stroke a check for 5K, when there are 97% loans all over the place for one with good credit. My advice is spend some time with some realtors, some time with FSBO’s and some mortgage people and get your pulse on the market before you leap. Good luck.