The process to buy a condo or a house.....

Question

The process to buy a condo or a house.....

I recently plan to buy a condo(house)

I asked an agent, and she showed me some.

Then, she tell me that a lender will contact with me to talk about my financial situation.

I just wonder, is it the process?

And also, I am working.

I just wonder, do I also need to ask my company to write a letter about my salary.

Also, what the lender will asking me?

How to deal with lender, agent, and also the seller to get a better price.

Also, should I just ask my bank about the loan, but not from the lender that the agent introduce to me?

Also, normally, How much everyone will leave after paying the mortgage(every month) and everything about the condo

for the expense? (in LA, CA. )

Answer 1

It is easy to buy a condo.  You and the seller sit at a table.  She signs the deed.  You put your money on the table.  She slides the deed to you and you slide the money to her.  You own the house.   If you get a loan, you give her the loan money.   On a $100,000 condo, she doesn't care if you put $1,000 down and borrow$99,000   .. or ...  you put $99,000 down and borrow$1,000; as long as she gets $100,000.

30 days after you own the condo, you will have to pay your 1st mortgage payment.  On a $100,000 loan that will be $800 a month. Since it is a condo, you also pay the $100 condo fee (HOA).  It's easy and fun. /