Table of Contents
The most complete home-buying book you will find doesnt leave out any of the essentials. On my scale of one to 10, this superb new book rates an off-the-chart 12.
Robert Bruss, syndicated real estate columnist
Coming from a gal that knows tools, this book is a must-have tool for any home buyer. It offers so much essential information, purchasing a home without it would be like trying to drive a nail without a hammer!
Norma Vally, host of Toolbelt Diva (Discovery Home) and author of Chix Can Fix: 100 Home Improvement Projects and True Tales From the Diva of Do-It-Yourself
Any first-time homebuyer owes it to him or herself to get this book. Its packed with information you wont find anywhere else, yet is remarkably accessible, even when covering complex financial issues.
Elisabeth DeMarse, CEO, Creditcards.com, former CEO, Bankrate.com
Enthusiasm, hints and tips all rolled into a great read for first-timers.
Pat Lashinsky, President of ZipRealty
Provides in-depth insight and helpful advice that is easy to understand and use.
Rob Paterkiewicz, CAE, IOM, Executive Director, American Society of Home Inspectors
Like having over a dozen real estate experts over for dinner.
Steve Kropper, President, Bank on Real Estate, founder of Domania.com
Nolos excellent guide for novice home buyers provides fresh, updated information about the whole process that even those in the know will find useful.
Library Journal
The NOLO Story
Dear friends,
Since 1971, Nolo has worked hard to help Americans get a fair shake from the legal system. How? By producing books, software, forms and a website that translate legal jargon into plain English, offer clear instructions for routine tasks and break down complex systems into easy-to-understand components.
All of our publications are relentlessly researched and tested by a dedicated group of in-house legal editors. And when we come out with a new edition, youll know that its been thoroughly updated.
Theres a reason why Nolo is not only the nations oldest, but also the most respected provider of legal information. Our mission, reflected in everything we publish, is to give consumers and small businesses the best information available. Were proud that tens of millions of Americans have looked to Nolo to help them solve their problems and achieve their goals.
Ralph Warner,
Nolo co-founder
NOLO Your Legal Companion
In Nolo you can trust. THE NEW YORK TIMES
Whether you have a simple question or a complex problem, turn to us at:
NOLO.COM
Your all-in-one legal resource
Need quick information about wills, patents, adoptions, starting a businessor anything else thats affected by the law? Nolo.com is packed with free articles, legal updates, resources and a complete catalog of our books and software.
NOLO NOW
Make your legal documents online
Creating a legal document has never been easier or more cost-effective! Featuring Nolos Online Will, as well as online forms for LLC formation, incorporation, divorce, name changeand many more! Check it out at http://nolonow.nolo.com.
NOLOS LAWYER DIRECTORY
Meet your new attorney
If you want advice from a qualified attorney, turn to Nolos Lawyer Directorythe only directory that lets you see hundreds of in-depth attorney profiles so you can pick the one thats right for you. Find it at http://lawyers.nolo.com.
OUR MISSION
Make the law as simple as possible, saving you time, money and headaches.
ALWAYS UP TO DATE
Sign up for NOLOS LEGAL UPDATER
Old law is bad law. Well email you when we publish an updated edition of this booksign up for this free service at nolo.com/legalupdater.
Find the latest updates at NOLO.COM
Recognizing that the law can change even before you use this book, we post legal updates during the life of this edition at nolo.com/updates .
Is this edition the newest? ASK US!
To make sure that this is the most recent available, just give us a call at 800-728-3555 .
(Please note that we cannot offer legal advice.)
Please note
We believe accurate, plain-English legal information should help you solve many of your own legal problems. But this text is not a substitute for personalized advice from a knowledgeable lawyer. If you want the help of a trained professionaland well always point out situations in which we think thats a good ideaconsult an attorney licensed to practice in your state.
Bray, Ilona M., 1962-Nolos essential guide to buying your first home / by Ilona Bray, Alayna
Schroeder, & Marcia Stewart. -- 2nd ed. p. cm.
ISBN-13: 978-4133-0935-5 (pbk.) ISBN-10: 1-4133-0935-6 (pbk.)
1. House buying. I. Schroeder, Alayna, 1975- II. Stewart, Marcia. III. Title.
HD1390.5.B734 2009
643.12--dc22
2008037049
Copyright 2007 and 2009 by Nolo.
ALL RIGHTS RESERVED. PRINTED IN THE U.S.A.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without prior written permission. Reproduction prohibitions do not apply to the forms contained in this product when reproduced for personal use.
Quantity sales: For information on bulk purchases or corporate premium sales, please contact the Special Sales Department. For academic sales or textbook adoptions, ask for Academic Sales. Call 800-955-4775 or write to Nolo, 950 Parker Street, Berkeley, CA 94710.
Acknowledgments
We didnt really write this book.
Well, we did, just not by ourselves. This book was a 100% team effort and couldnt have been written without the advice, stories, and ideas of real estate experts and homebuyers from around the United States. First and foremost, we thank the members of our advisory board, who spent countless hours reviewing chapters, explaining local practices, and sharing the best and worst memories from their professional experiences. Special thanks to Broderick Perkins, a real estate journalist based in San Jose, California, and founder and Executive Editor of DeadlineNews.Com (www.deadlinenews.com), who reviewed and contributed to every chapter.
Our other invaluable sages included:
Asheesh Advani, President of Virgin Money USA, (www.virginmoneyus. com), and an expert in alternative forms of home financing
