FIRST TIME BUYERS QUESTIONS
That depends, of course—on your income and other financial obligations. And do it before you start shopping, Meet with a lender to get pre-approved for a home loan (added bonus: pre-approval makes you much more attractive to sellers).
Yes, you can—but it's the real estate equivalent of walking a tightrope. This means you only agree to buy a home if you can sell the one you're in. The only downside is if your seller doesn't agree (which is possible if they want the timing set in stone).
Up to you, sport! While home shoppers these days can look at hundreds of homes online, they only hoof it to before they put in an offer. If you want to streamline the process, it can help to really hone in on a particular neighborhood you're keen on; that said, if you feel limited by your options, it may be time to expand to surrounding areas.
While there's no crystal ball on whether a certain home is a bargain and will appreciate, rest assured that with research, you can keep surprises to a minimum.
Typical escrow periods are 30 to 45 days, This gives you enough time to do the investigation on the property and get a loan completed.
While buyers can always back out of a deal, doing so without good reason may forfeit their earnest money (the cash put down to secure the offer, typically around 1%-2% of the home's price). But there are some ways to walk with your earnest money in hand.