Karen Rittenhouse - The Essential Handbook for Buying a Home

Praise for
The Essential Handbook for Buying a Home

The reading flows very well! Very conversational and comfortable. Im reading tons of things that never came up in our discussions before buying our first home, too many to list, but its awesome! Theyre all in tiny, easy to absorb chunks, very helpful. I can definitely picture doing it all over again with this book and highlighting some of these lines. I hope I remember this when I need it, but at least I can come back to it later.

Glenn Sidney
Web Developer and owner of GlennFu, Inc.

I love it because its just like Im talking with you in the room. You write so friendly and not preachy. Highly informative; I really love it.

Susan Beck
Interior Designer

For fans of Star Trek and other outer space adventures you will recall The Borg empire and Spock mind melds. In both cases the connection between the author of knowledge and the student created instant and easy access to a wealth of important and necessary knowledge. This is also true for this fabulous book written by Karen Rittenhouse. Enjoy your new wealth of knowledge and engage in the fabulous and fun world of buying a home.

Fred Fetterolf
CEO Betteroff Properties

This book is essential reading for anyone looking for primer on how to buy a new home. Karen is the real deal.

David Finkel
Wall Street Journal bestselling author of The Real Estate Fast Track

Real world wisdom from a pro. Everything you need to know in an easy to read, well-organized book. Anyone considering buying a home should use this as a guide from the get go.

Ellen Berry
creative consultant and happily surprised first-time homebuyer through
the help of author Karen Rittenhouse and her husband Jim

This book puts the many different aspects of buying a home into a systematic and organized flow that is easily understood. Karen explains every step so clearly that anyone can pick this book up and walk through the intimidating process of home buying with ease.

Jim Williams
Real Estate Investor, Coach and Trainer

I heard about Karens book and I was grateful. When looking for our first house in a new town and state, and being a newlywed whose husband was overseas at the time, I walked off a plane in St. Louis, met a realtor whom my husbands company had contracted, looked at 25 homes in two days, and was in shock. Flying home with no purchase, I was reeling with questions: Who is this person? How can I trust her? Is she showing me properties in the right neighborhoods for our needs? What about crime statistics? What things should I be looking for in a new home (first purchase)? What tools do I need to have to figure out the best house for us? Karens book would have been THE tool I could rely on back then. Thankfully, its now available to all the other newbies in the house hunt. Thanks, Karen!

Carol Caffarel
Writer, Speaker, Home Staging Expert

The Essential Handbook
for Buying a Home

Southeastern Investments, LLC

Greensboro, North Carolina

Copyright 2011 Karen Rittenhouse

Cover Design 2011 Imagine! Studios, LLC
www.ArtsImagine.com

All rights reserved. No portion of this book may be reproduced mechanically, electronically, or by any other means, including photocopying, without written permission of the publisher. It is illegal to copy this book, post it to a website, or distribute it by any other means without permission from the publisher.

Published by Southeastern Investments, LLC
Greensboro, North Carolina

ISBN 13: 978-0-9837752-4-9
Library of Congress Control Number: 2011938427

First Southeastern Investments, LLC printing: October 2011

Dedication

To all those seeking a place to call home.

Theres no place like home.

Dorothy Gale

The Wizard of Oz

Id like to thank my many friends who listened to me agonize and question as I went through this process. Thank you for your help and support throughout the journey of my writing.

Thank you to Kathy Haines, our real estate agent, for reading all the parts about real estate agents and adding her input.

Thank you to Jeff Geary, the Mortgage Lender, for his list of lender requirements and reading the parts about lending.

Thanks to my great friend Arminda Lindsay for proofreading (many times).

And a special thanks to the best editor in the world, Ellen Berry, of Phenom Publishing.

Of course, I want to acknowledge the three men in my life, my boys John and Glenn, and my husband, Jim, for always being my reason.

Why Read this Book?

Why should you read this book? Because buying a home should be fun and exciting!

As you read, Im going to answer some of your basic questions: How do I find a house? How do I know what its worth? What exactly is a credit score? Should I buy a foreclosure? Where do I find a foreclosure? What is a short sale?

You will discover how easy it is to find properties in your area, determine the value of those properties, understand multiple buying strategies, and be confident that the home you ultimately purchase is a smart decision and was purchased at a fair price.

Ive been involved in real estate full time since January 2005. After buying and selling more than 150 homes and coaching others to do the same, Ive found that most homebuyers have the same questions and concerns. I help buyers and sellers every month and, in this book, I am going to share some of the most frequently discussed questions and answers for people, just like you, buying a home.

People buy houses every day, but you probably dont. The more informed you are going in, the more confident you will be, the more fun you will have, and the better your chance of making a good deal, maybe even a great deal, on your purchase.

Theres truly never been a better time to buy real estate. Enjoy the process!

Whats Inside?

For ease of use, this book is divided into sections allowing you to read from beginning to end or to jump around easily to specific topics.

We start with Section 1: The Decision. Should you even buy a home? Is it a good time? Is it better to rent?

Then Section 2: The Process. We look at how to improve your credit score and what to expect when applying for a mortgage.

Next, Section 3: Buyer Options covers choices you may be familiar with but not really understand, like short sales, foreclosures, REOs, and USDA financing.

And last, Section 4: Buyer Basics will help you with determining your offer, applying for a loan, understanding inspections and closing costs.

Well sum it all up with the physical partthe moving process.

Being Able to Talk the Talk

If this is your first time buying a home, you will learn a whole new language. Dont panic! There are only a limited number of terms and you will hear the same ones over and over again. In no time, youll be comfortable using all the vocabulary necessary for buying a home.

For your convenience, a glossary of frequently used terms appears at the end of this book providing quick and easy reference.