Lesson 2: How to Buy Real Estate
November 28, 2023
Review:
- Course Overview
- Why Study Real Estate
- Interest rates
Presentation:
- How to buy real estate
- First-time Home Buyer Episodes
- Property listings:
- Pikes Peak Area MLS (Multiple Listing Service)
- Realtor.com
- Zillow.com
Activity:
- Select 3 properties currently listed For Sale, in any US market, and note the following
- Street Address, City, State, ZIP Code
- # Bedrooms, # Bathrooms, Total Square Footage
- Asking Price
- Most recent sales price and date
- Most recent property tax assessment
- Link to listing (on Zillow or other)
Assignment:
- Interview a parent/relative/friend about a recent residential real estate purchase.
- Use the “How to buy real estate” document to guide the interview.
- Sample questions:
- What were the mortgage terms?
- Who was the lender?
- How was price negotiated?
- Were there issues with the inspection or repairs?
- Were there issues with the appraisal?
- Was the closing process smooth or were there delays or problems?