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Be a savvy home shopper
By Times Staff Writer
Published March 11, 2006
Six rules for real estate, from The Fearless Home Buyer, by Elizabeth Razzi (Stewart, Tabori & Chang, $16.95): Don't fall in love with the appliances - or reject a house because of an outdated range or refrigerator. For a few thousand dollars you can buy all new appliances. Don't let them unduly influence a decision on a house that costs hundreds of thousands of dollars. Commute. In the rain, if possible. Early one morning, drive to the neighborhood where you're considering buying and then commute to your job. How long does it take? How awful is the traffic? Do the same thing at evening rush hour. Are you sure you want to live there? Have your agent present your purchase offer in person. It's easy for sellers to say no to a faxed offer, harder to reject an enthusiastic agent in front of them. Make sure everything's in or out. Before you sign that purchase offer, be certain it includes everything you expect to be transferred in the sale: light fixtures, play sets, appliances. Build in escape hatches: contingencies for home inspection, appraisal and financing that allow you to get out. Don't crowd your lock-in date. Schedule your closing for several days before your interest rate lock-in expires. If your closing is delayed, you won't be faced with a higher interest rate. Mayberry doesn't exist. Change the locks and the keypad combinations once you move in.
[Last modified March 11, 2006, 09:10:55]
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