I. STEPS IN BUYING A HOME

• Finding a broker
• Making an offer
• Hiring a lawyer
• Having the property inspected
• Signing a Purchase & Sale Agreement
• Applying for a mortgage
• The closing (Becoming the owner at last!)

II. DIFFERENT TYPES OF RESIDENTIAL PROPERTIES

• Single Family Homes
• Multifamily Properties
• Condominiums
• Cooperatives/Trusts
• Vacant Lots

III. LEGAL FORMS OF OWNERSHIP

• Tenants by the entirety (husband and wife)
• Joint tenants with right of survivorship
• Tenants in common

IV. BUYERS' LEGAL CONCERNS

• Financing contingency and notification deadline
  • One application
  • Amount of mortgage to be obtained
  • Giving notice of extension of deadline
• Review of Condominium Documents and Status of Condominium
  • Budget
  • Assessments, reserves, litigation
  • Restrictions (pets, rentals, etc.)
• Rental Properties
  • Status of current tenants
  • Eviction - notice of termination of tenancy
  • Transfer of security deposit and last month's rent
• Use and occupancy
  • Terms of written agreement
  • Amount of use and occupancy fee (per day)
  • Not rent
• Title
  • Certification from lender's attorney or your own (if no lender)
  • Title insurance
• The closing
  • Closing documents
  • Closing costs