Buying New House for 300 Advice needed

drewex

Hi all,
I am first time house buyer. I have been talking to a loan consultant, which got me pre approved for %3.95 down. The down payment would be about 11k, which is perfect for me because I do not have much down payment. I had about 22k saved. Which I was planning maybe give 15k down. And even get 10k more from parents. This guy sounds really good and knowledge and also I got to this guy from really close friend which he has used this guy for multiple purposes. He is suggesting for me to wait for 30 to 60 days expecting some more foreclosures coming up. And he is contacting the banks that he works with to get some house info.
Well here come the questions.
The parts that a bit confused me and that made me start this question is he said don’t need to go get a realtor that we would find it from the banks. Since im really new that kind of felt weird to me. Is this normal?

Also what’s next to do? Since I never bought a house I don’t know what to look for besides liking he house and the neighborhood. Is there a check list I should have? And what questions I should ask to the lender? Don’t have much direction besides looking for the house.
Help please

poppysarah

£300,000 for a house as a FTB?

poppy10_2

poppysarah wrote: »

£300,000 for a house as a FTB?

$300,000. He's American.

simpywimpy

Bug infestation, structural damage, damp, any kind of rot.
Is the heating system in good working order?
Any subsidence?
What are the neighbours like?
See what the other outgoings would be (in case you cant afford that on top of the mortgage)

poppysarah

poppy10 wrote: »

$300,000. He's American.

I did wonder that after I'd posted - but America's in a worst state than the UK - so 300k could buy half a town.

MX5huggy

As it's clear you are in the US of A watch out for:- Hurricanes, Earthquakes, Tornados, Volcanoes and Dodgy Levies that burst oh we do have it easy here. But a bit snow does grind us to a holt.

Robert_Sterling_3

drewex wrote: »

Hi all,
The parts that a bit confused me and that made me start this question is he said don’t need to go get a realtor

Go get a realtor? I hardly know what a realtor is.

Robert_Sterling_3

Is MSE very much used in America?

mjdh1957

I think it's the .com web address that confuses Americans. They imagine that only the US uses the .com extension. If it was .co.uk it would be clearer.

drewex

HAHAHA funny as it sounds i didnt even realize this was a UK page :eek: :rotfl: i just searched google and found the first house buying forum. HAHAHA. This morning i just noticed the UK tag on the site logo. My bad people.
:beer:

Buuut never the less good basic advices simpywimpy. And the market is f'ed up over here so perfect time to buy. The prices are on a constant drop.

MX5huggy

Maybe you should wait untill the prices stop the constant drop.