YAHT: first time home buyer...looking for some advice on what to do

[Aharami]

Mom doesnt make that much...so she put her name down in the non-profit housing list figuring wth. her name came up. its a 2 bedroom condo going for 130K (regular would be around 200K+). so she is thinking about buying it...but we dont really have any clue on what to do. so please give me some tips.

what are some steps I should follow?
what are some precautions I should take (other than getting it inspected prior to purchasing)?
how to go about looking for an inspector?
how to go about getting a loan?
Ive looked at ditech.com and wellsfargo.com...both around 5.5%. Is that good or bad for NJ?
friend recommended getting a broker to help us search for a good mortgage rate. is this worth it?
also my mom heard from someone that she needs to get a lawyer 😕. never heard of this...why would we need a lawyer?

any other help/tips/links would be highly appreciated. Thank you!

 

[pmoa]

go to this link

There is a link at the top of the page for the homebuying blueprint....

it is a buddy of mine and he was new to the homebuying experience and maps it out pretty well.

 

[Aharami]

Originally posted by: pmoa
go to this link

There is a link at the top of the page for the homebuying blueprint....

it is a buddy of mine and he was new to the homebuying experience and maps it out pretty well.

awesome. looks pretty detailed. thank you very much!!
started reading....but have a splitting headache. need to look away from the screen for a while.

meanwhile, other links/info would be highly appreciated.

 

[Aharami]

bump for the morning crew...

 

[Jzero]

You should not need a lawyer in NJ, although a real estate agent contracted by you to work for you is a good idea. Having a lawyer come to the settlement is a good way to scare shifty sellers into not effing with you, but it's a requirement.
For both home inspectors and mortgage lenders/brokers, it is advisable to get recommendations from people you know and trust.