Everything About Buying A Home Explained Visually

Comprehensive coverage of important US real estate terms and concepts, explained via 75 short, visually-oriented videos.
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  • Lectures 82
  • Length 2.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 12/2013 English

Course Description

This course aims to provide people buying or selling a home with understanding of key real estate terms and concepts. These are explained through visuals, with supporting voiceover. Each video is short by design, but because visuals convey more information in far less time than text, they cover the subject with better comprehension and recall.

The course is broadly structured into 8 sections, in the rough order a home buyer might follow. However, the videos are not structured sequentially. Later sections can be used without viewing earlier sections. End-to-end viewing, preferably NOT in a single sitting, may be helpful for those who have not yet started the home-buying decision process. A complete end-to-end viewing could be done in a few hours.

Those partway through the home-buying process, or those needing refresher knowledge on particular terms or concepts, can jump to specific videos.

Take this course to be an informed home buyer, and (potentially) to save a lot of money by making the best decisions for your situation. It's the biggest purchase of your life - knowledge pays off.

What are the requirements?

  • Personal computer, tablet or mobile device
  • PDF reader software for course guides useful but not required
  • Printer useful but not required

What am I going to get from this course?

  • In this course, you will learn the recommended steps to assess and prepare for buying a home
  • You will understand how to search for, and look at, potential homes and communities
  • You'll become familiar with the basic process of making an offer on a home
  • You will learn the basic mortgage terms and types, and the benefits of each
  • You'll understand more unfamiliar mortgage decisions, including points and escrow.
  • You'll gain a methodical approach to choosing a lender for your home purchase.
  • You will have a road-map for the closing process, going to from offer to ownership.
  • You'll learn some of the essential Federally-funded programs and options that might be applicable to you.

What is the target audience?

  • Home Sellers
  • Home Buyers
  • Renters
  • Real Estate Investors
  • Realtors Looking To Help Clients

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Are You Ready To Buy A Home?
00:49

A short list of the practical, sometimes difficult questions that you should face before starting down the home-buying road.

00:36

A quick guide to capturing your needs and wants, so you know how to start and where to look.

01:01

Many first-time home buyers are unsure about the value of owning a home. While it's a different set of responsibilities, home ownership offers substantial financial and personal advantages.

00:55

Don't fit your life to a "model home" - capture your "model life", and find a home that fits who you are.

00:45

Choice of community plays a big role in how a particular structure will suit you. Here are some key questions and considerations to help you assess communities.

00:45

Some unexpected sources for the 'inside scoop' on key resources in a new community.

01:01

Your credit history will affect your home buying. Start this part of the process as early as you can.

00:34

There are no secret fixes - here are the practical things you should do on an ongoing basis to maintain - and eventually improve - your credit score.

9 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 2: Looking At Homes
01:11

While it's fun to walk through homes, it's exhausting too! Here are some tips on things to look for, and suggestions for keeping track.

00:49

If you have children, watch this video so you know what to look for and how to address possible concerns.

Are Power Lines A Health Hazard?
00:37
00:44

Learn what a flood plain is, and what effect it can have on your home buying expenses.

00:50

There's no single answer to this, but there are some issues to consider against your own situation and preferences.

00:57

Learn the key factors that are going to determine your "envelope" for a home purchase.

00:33

AKA the checklist of scary things to consider. It's a huge investment, can't hurt to ask some practical questions!

00:51

Discrimination is illegal and intolerable - here's where to go for help.

00:41

If you've never been a homeowner, property taxes can be a shock. Make sure you know the "liability" - the amount your potential new house will probably cost you in taxes - before buying.

00:59

A short list of key question areas, and a source for a handy scorecard to compare multiple homes.

00:36

Save yourself expensive mistakes and unnecessary return trips - you won't remember every detail. This video spells out some ways to tackle the task.

12 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 3: Making An Offer
01:22

An inspector checks the safety of your potential new home, but does not evaluate whether or not you're getting good value for your money.

00:36

An inspection clause gives you an “out" on buying the house if serious problems are found or gives you the ability to renegotiate the purchase price if repairs are needed.

00:38

YES - be there and take notes, especially if it's your first home.

00:48

This video gives you an overview of the process - your real estate agent will help.

01:07

Learn the basic factors in an offer, and some important cautions to handling the offer process.

00:48

While practices vary from place to place, it's customary to commit between 1%-5% to a transaction to back up your intent to purchase.

00:40

Warranties are becoming more common, especially for new-home construction. They can be a helpful investment under the right circumstances.

00:56

Pre-qualify: an informal, non-committed "ballpark." Pre-approval - actual commitment to lend.

9 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 4: Mortgage Basics
00:51

A mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a legal claim on the home or property that secures the promise to pay the debt.

01:07

The loan to value ratio is the amount of money you borrow compared with the price or appraised value of the home you are purchasing.

01:26

Learn the most common mortgage types - fixed, ARM, balloon and two-step.

00:45

Important stuff - ARMs can be great, but understand what you're committing to.

00:56

This video covers the basic of fixed-rate, comparing the two most common terms.

00:44

There are options for first-time buyers, depending on financial qualifications.

00:45

Most mortgages offer early/extra payment options, but be sure to ask about details before signing.

00:46

Down payment percentages vary, and they may be going up. Learn this material way in advance to assess your likely needs.

9 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 5: More On Mortgages
00:40

Learn the mix of things involved in determining mortgage payment amounts so you can negotiate smart.

00:33

Get a good mental picture of what can be included - and ask for specifics.

00:55

Take notes on this one, because there's a LONG list of documentation you'll need.

00:57

Interest rates are a volatile component in the mortgage mix - learn what to watch.

00:42

"Refinancing" - establishing a new loan on an existing house - might pay off. Learn when.

00:54

Points are essentially prepaid interest, and they can be a useful way to manage costs and taxes.

00:46

Meet our friend the S crow - an account where part of your mortgage payment is set aside for annual charges.

8 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 6: Loans & Lenders
00:46

Here are some key questions and considerations to picking a lender.

00:38

Your "credit score" is your risk history, in a single number. Learn and understand yours.

00:53

Learn to assess loan options in a smart, long-term way.

01:00

With so many loans, how can you compare? Watch this.

00:33

This is a key requirement, required of a lender within 3 days of application.

00:37

Loan application fees can add up, and they're generally non-refundable.

00:40

Here's how to handle mistakes...

00:49

What to expect while you're waiting for loan approval.

01:10

Important things to do, and things you absolutely SHOULD NOT do.

01:33

Learn some of your options, and some of the terms, should you fall behind in payments.

11 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 7: Title & Closing
00:56

Laws vary by state, but you may want one regardless.

00:41

Yes - you'll need a policy or a receipt for one at closing.

01:01

Shop and compare, and include insurance costs in home comparisons too.

00:38

Probably the first and last time you'll your future home without furniture - here are some extra things to check before you sign.

00:53

Mortgage insurance is a policy that protects lenders - YOU pay the premium. Whether it's required depends on your down payment %, generally.

00:49

Private Mortgage Insurance / Insurers, compared to the FHA.

01:05

Learn the usual closing costs in about a minute, but you may want to replay.

01:25

You'll sign many, many documents - get an overview of what's happening before the day arrives.

00:39

Learn the key documents to review.

10 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

Section 8: Federal Programs Related To Buying A Home
00:57

The Federal Real Estate Settlement Procedures Act requires lenders to disclose information to potential customers throughout the mortgage process.

00:57

The U.S. Department of Housing and Urban Development - also known as HUD - develops and administers national policies and programs to address housing needs in the U.S.

00:51

HUD develops and supports affordable housing, makes loans, and owns & sells homes in many communities.

00:42

The FHA makes loans accessible; FHA loans can require smaller down payments than conventional loans.

01:17

FHA loan limits vary by place and type of home.

00:37

FHA loans are now handled much like conventional loans, through a variety of contact options.

00:47

A whole range of things you might not think of as "income" may actually qualify and help you borrow.

01:05

As of 2013, the FHA allows you to use 29% of your income towards housing costs and 41% towards housing expenses and other long-term debt.

00:54

The FHA is generally more flexible than conventional lenders in its qualifying guidelines; this video covers some of the details.

00:59

Yes. You can assume an existing FHA-insured loan, or, if you are the one deciding to sell allow a buyer to assume yours. Learn the advantages.

01:16

203(b) is the most commonly used FHA purchase program. 203(k) loans are similar, but also enable homebuyers to finance both the purchase and rehabilitation of a home.

00:53

Ask your real estate agent or lender for information on the HELP- Homebuyer Education Learning Program - from the FHA.

02:01

Learn how to handle the situation, and who's involved, in FHA loan payment issues.

11 pages

Key points and visuals for all of the videos in this section, one page per video. You may find it helpful to have this on-screen OR printed out as you go through the material.

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Instructor Biography

Dr Matthew Dunn, Chief Explainer at Say It Visually

Matthew Dunn holds the first PhD in Digital Media (University of Washington 1995). He’s been a theatre professor, a 9-year Microsoft veteran, a corporate Senior VP & CIO, a tech-startup CEO and a serial entrepreneur.  He’s also an award-winning writer, a designer, director and frequent speaker, and an inventor, with 15 patents to date.  In 2008 he launched Say It Visually, the pioneering “Explanation Agency”, with his business partner, where Matthew holds the title of Chief Explainer. 

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