Debbie Downer HerezebeagleSeptember 25 2008, 22:40:36 UTC
I think it's great that you want to buy a house but I want to make sure you make a good decision.
I work for a real estate company and I've never heard of a house that costs $7,000. Before you make an offer, give any money, or sign any paperwork for that house please make sure you read all inspections that were done on the house in the last 6 months. It must need a LOT of repairs and you might not be able to get a loan for it because the bank will send out an appraiser to look at it.
If you have a lot of debt and you're behind in your payments, you not might be able to get a loan because banks are getting VERY strict on who they lend money to.
With that price I would also think it's in a very bad neighborhood. Maybe someone will steal your car, is your insurance paid up?
Don't just look at the price of the house but also look at what taxes you'll be paying.
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I work for a real estate company and I've never heard of a house that costs $7,000. Before you make an offer, give any money, or sign any paperwork for that house please make sure you read all inspections that were done on the house in the last 6 months. It must need a LOT of repairs and you might not be able to get a loan for it because the bank will send out an appraiser to look at it.
If you have a lot of debt and you're behind in your payments, you not might be able to get a loan because banks are getting VERY strict on who they lend money to.
With that price I would also think it's in a very bad neighborhood. Maybe someone will steal your car, is your insurance paid up?
Don't just look at the price of the house but also look at what taxes you'll be paying.
Good Luck!!
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