Whom to Contact (How to
Buy) - Q & A
| Q: |
What standards do appraisers use to estimate value?
|
| A: |
Appraisers use several factors when
estimating value including historical records, property performance, condition
of the home and indices that forecast future value. For detailed information on
appraisal standards, contact the Appraisal Institute at 875 N. Michigan Ave.,
Suite 2400, Chicago, IL 60611-1980; (312) 335-4458. |
|
| Q: |
Where do I get information about housing
discrimination? |
| A: |
For information about housing
discrimination, call the U.S. Department of Justice at (202) 514-2000, 950
Pennsylvania Ave., NW DC 20530 or your local U.S. Department of Housing and
Urban Development office.
For detailed information, the booklet, "Your Loan is
Denied, Defending Yourself Against Mortgage Lending Discrimination," is
available from the Center for Investigative Reporting, 500 Howard Street, Suite
206, San Francisco, CA 94105-3008 or call (415) 543-1200. |
|
| Q: |
Where do I get information about closing costs?
|
| A: |
For more on closing costs, ask for
the "Consumer?s Guide to Mortgage Settlement Costs," Federal Reserve Bank of
San Francisco, Public Information Department, P.O. Box 7702, San Francisco, CA
94120 or call (415) 974-2163. |
|
| Q: |
Where do I get information on housing market stats?
|
| A: |
A real estate agent is a good source
for finding out the status of the local housing market. So is your statewide
association of Realtors, most of which are continuously compiling such
statistics from local real estate boards.
For overall housing statistics, U.S. Housing Markets
regularly publishes quarterly reports on home building and home buying. Your
local builders association probably gets this report. If not, the housing
research firm is located in Canton, Mich.; call (800) 755-6269 for information;
the firm also maintains an Internet site. Finally, check with the U.S. Bureau
of the Census in Washington, D.C.; (301) 495-4700. The census bureau also
maintains a site on the Internet. The Chicago Title company also has published
a pamphlet, "Who's Buying Homes in America." Write Chicago Title and Trust
Family of Title Insurers, 171 North Clark St., Chicago, IL 60601-3294.
|
|
| Q: |
How do I reach the IRS? |
| A: |
To reach the Internal Revenue
Service, call (800) TAX-1040. |
|
| Q: |
Where do I get information on lease options?
|
| A: |
For information on lease options,
"How Lease Options Benefit Realty Buyers, Sellers, Agents and Investors" is
available for from Tribune Media Services, 435 N Michigan #1500, Chicago IL
60611. 1-800-245-6536,or "Publication House", Burlingram CA. 1-800-736-1736
|
|
| Q: |
Where do I get information about finding a real
estate attorney? |
| A: |
To find a real estate attorney,
contact your local bar association, which may offer local referral services.
You may also ask friends or your real estate agent for their recommendations.
When you have several names, call each to find out about fees and their level
of experience. |
|
| Q: |
Where do I get information on home market stats and
trends? |
| A: |
A real estate agent is a good source
for finding out the status of the local housing market. So is your statewide
association of Realtors, most of which are continuously compiling such
statistics from local real estate boards.
For overall housing statistics, U.S. Housing Markets
regularly publishes quarterly reports on home building and home buying. Your
local builders association probably gets this report. If not, the housing
research firm is located in 4200 Koppernick Rd #40, Canton,Mich.48187; call
(800) 755-6269 for information; the firm also maintains an Internet site.
Finally, check with the U.S. Bureau of the Census in Washington, D.C.; (301)
495-4700. The census bureau also maintains a site on the Internet. The Chicago
Title company also has published a pamphlet, "Who's Buying Homes in America."
Write Chicago Title and Trust Family of Title Insurers, 171 North Clark St.,
Chicago, IL 60601-3294. |
|
| Q: |
How do I find a home inspector? |
| A: |
Your realty agent is one source.
Inspectors are listed in the yellow pages. You can ask for referrals from
friends. Ask for their credentials, such as contractor's license or engineering
certificate. Also, check out their references. |
|
|
