Cumberland, RI, July 12, 2008 --(PR.com
)-- 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.
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
If you would like more information on the anything in this article please email Jim@GTProperties.net or call 401 447 4447