Ilona Bray J.D. - Nolos Essential Guide to Buying Your First Home

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

Ilona Bray, J.D.,
Alayna Schroeder, J.D.,
& Marcia Stewart

Bray, Ilona M., 1962

Nolos essential guide to buying your first home / by Ilona Bray, Alayna Schroeder & Marcia Stewart. -- 5th edition.

pages cm

Includes index.

ISBN 978-1-4133-2118-0 (pbk.) -- ISBN 978-1-4133-2119-7 (epub ebook)

1. House buying. I. Schroeder, Alayna, 1975- II. Stewart, Marcia. III. Title.

HD1390.5.B734 2014

643'.120973--dc23

2014019577

This book covers only United States law, unless it specifically states otherwise.

Copyright 2007, 2009, 2011, 2012, and 2015 by Nolo. All rights reserved. The NOLO trademark is registered in the U.S. Patent and Trademark Office. 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.

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.

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 the late Broderick Perkins, a real estate journalist based in San Jose, California, who reviewed and contributed to every chapter of this books early editions.

Our other invaluable sages included:

Nancy Atwood, real estate broker with ZipRealty in Framingham, Massachusetts ( www.ziprealty.com )

Amy Bach, J.D., consumer advocate and Executive Director and cofounder of United Policyholders, a national nonprofit ( www.uphelp.org ), based in San Francisco, California

Timothy Burke, founder and CEO of National Family Mortgage ( www.nationalfamilymortgage.com ), based in Waltham, Massachusetts

Alicia Champagne, real estate attorney ( www.champagneandmarchand.com ), short sale negotiator, and Realtor education teacher in Wilmington, Massachusetts

Marjo Diehl, Mortgage Adviser at RPM Mortgage in Alamo, California ( www.rpm-mtg.com )

Sandy Gadow, expert on real estate closing and escrow, and bestselling author of The Complete Guide to Your Real Estate Closing ( www.escrowhelp.com )

Kenneth Goldstein, Boston-area attorney with the law firm of Goldstein & Herndon, LLP ( www.brooklinelaw.com ), and Chairman of the Board of Selectman of the Town of Brookline, Massachusetts

Paul Grucza, Director of Education and Client Engagement for The CWD Group, Inc. AAMC in Seattle, Washington ( www.cwdgroup.com )

Richard Leshnower, New York-based real estate attorney

Paul A. Rude, professional inspector and owner of Summer Street Inspections, in Berkeley, California ( www.summerinspect.com )

Bert Sperling, city and neighborhood expert and author in Portland, Oregon, and founder of www.bestplaces.net

Daniel Stea, broker/owner/attorney at Stea Realty Group in Berkeley, California ( www.stearealtygroup.com )

Fred Steingold, attorney and author in Ann Arbor, Michigan (many of his books on small business and other legal matters can be found on www.nolo.com )

Russell Straub, founder, President, and Chief Executive Officer of LoanBright, a mortgage marketing service based in Evergreen, Colorado (see www.loanbright.com and www.compareinterestrates.com )

Tara Waggoner, MBA, real estate broker and Market Manager at Redfin in Houston, Texas ( www.redfin.com ).

A number of other experts provided additional adviceyoull see many of them quoted in this book. They include Neil Binder, New York real estate investment expert (); and Loretta Worters, Vice President of Communications for the Insurance Information Institute.

No amount of advice can substitute for a personal story, so wed also like to thank the many homebuyers who shared the good, the bad, and the ugly of their own experiences or told us what theyd like from this book, including Amy Blumenberg, Laurie Briggs, Dave and Danielle Burge, Karen Cabot, Linda Chou, Jennifer Cleary, Jaleh Doane, Phil Esra, Lisa Guerin, Gabrielle Hecht, Pat Jenkins, Ellie Kania, Justin and Tamara Kennerly, Chris and Libby Kurz, Talia Leyva, Willow Liroff, Meggan OConnell, Evan and Tammy Ohs, Leny and Frank Riebli, Leah Scheibe, Diane Sherman, Bruce Sievers, Luan Stauss, Tom and Heather Tewksbury, Catherine Topping, Josh and Gillian Viers, Julie and Malachi Weng-Gutierrez, and Kyung Yu.