Neighborworks Offers Real Estate Classes for First Time Homebuyers Given by James Cotoia, Residential Manager of GT Properties

Neighborworks of northern RI offers a Real Estate Class for first time homebuyers. James Cotoia, Residential Manager of GT Properties teaches buyers the process of purchasing a home from beginning to end.

Cumberland, RI, July 12, 2008 --( One of the things Neighborworks has is an educational program for first time homebuyers. There are many professionals a buyer will interact with during thier purchase. Nieghborworks brings together specialists from each field to inform buyers of the home buying process. The Real Estate section is taught by James Cotoia.

James Cotoia explains what is needed to be done before looking for a home, such as building credit, creating a budget and where to find a lender. James also explains Real estate forms like the Realtor disclosure, Seller disclosure, Lead disclosure, Pre-Approval letter, the Laundry list, commitment letter, MLS information sheet, and the Purchase and Sales Agreement.

James also educates about the difference between short sales, foreclosures, and bank REO properties. The class covers home inspections and what to do if there is a deficient condition.

Some other topics that get touched upon are:

MLS - Finding out your needs, Search criteria.

1.Price range
3.Size house or style # of bedrooms
4. Automatic notification e-mail system

How to present an offer

No money down programs

Finding capitol and a down payment (borrowing /promissory note)

Buying a home (getting closing costs included)

Buying your investment property (what to buy)

A. Rental income

1. Average local rent x # of Units = Rental income
2. Total expenses
B. Positive cash flow

Multifamily Fire codes issues

Vacant land

Spec homes

New construction

Fixer uppers

If you would like more information on the anything in this article please email or call 401 447 4447

GT Properties
James Cotoia