1. What are the Best Sources of Cash for a Down Payment?

        If your bank account is not large enough, you have several other options:

• Receive a tax-free gift from your parents, or relatives along with documentation of the "gift" stating that repayment is not required (thus your debt burden is not increased).  Some lenders may require you to use some of your own funds in addition to the gift.

• Borrow against a life insurance policy.

• Borrow against a company pension plan.

• Cash in retirement savings.

• Ask for a cash payment from your employer instead of next years raise.

• Obtain an advance on a future inheritance.

• Use your own business as collateral.

2. How will a Real Estate Agent help me buy a home?

For most of us, a home is the single best purchase we will ever make in our lives.  The immensity of the financial transaction aside, finding the right home to fit your specific wants and needs is no easy task.  Just as you wouldn't buy a car of a computer without doing some research into various types and prices.  You shouldn't consider purchasing a home without some expert advise and guidance.  here are a few of the benefits you can expect to receive from a Realtor's guidance.

• Help you set up a plan of action based on your current finances, the current housing market lender's mortgage options.

• Personally conducing a search to find homes that meet your requirements.

• Provide you with a market comparison of asking and set prices of homes in the neighborhood that interests you.

• Guide you through the intricacies of making an offer on a home.

• Provide the knowledge that is required concerning disclosures, the housing market & negotiating expertise.

3. What does a home inspector do, and how does an inspection figure in the purchase of a home?

An inspector checks the safety of your potential new home.  Home inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of only repairs, that are needed.

The inspector does NOT evaluate whether or not you’re getting good value for your money.  Generally, the inspector checks the electrical system, plumbing and waste disposal, the water heater, insulation and ventilation, the HVAC system, water source and quality, the potential presence of pests, the foundation, doors, windows, ceilings, walls, floors, and the roof.

Be sure to hire a home inspector that is qualified and experienced.

4. Do I Need to be there for the Inspection?

It’s not required, but it’s a good idea.  Following the inspection, the home inspector will be able to answer questions about the report and any problem areas.  This is also an opportunity to hear an objective opinion on the home you’d like to purchase and it is a good time to ask general, maintenance questions.

5. How many people sell their homes themselves?

Most home sellers – about 4 in 5 – use real estate agents to list and sell their homes.  Of the other 20 percent, some sell FSBO, also known as For Sale By Owner.  Other owners, however, sell without marketing their homes.  Property transfers between family members account for some of the direct home sales.  Also, tenants are often offered the opportunity to buy the property they are renting before the landlord lists it for sale.

6. What repairs should the seller make?

If you want to get top dollar for your property, you probably need to make all minor repairs and selected major repairs before going on the market.  Nearly all purchase contracts include an inspection clause, a buyer contingency that allows a buyer to back out if numerous defects are found or negotiate their repair.

The trick is not to overspend on pre-sale repairs, especially if there are few houses on the market but many buyers willing to buy at almost any price.  On the other hand, making such repairs may be the only way to sell your house in a down market.

7. How can I work with your company if another company's "for sale" sign is in the yard?

Anyone may work with any real estate professional they choose, regardless of who has the property listed. In fact, we strongly suggest that EVERYONE chooses a real estate professional that he or she trusts. Your home may be the single most expensive purchase you make in your life. The decision of who to deal with should not be taken lightly.

1. How does American Heritage Realty & All American Homes work??

All American Homes of Indiana, Inc. works through a network of independent builders within the states of Indiana, Ohio, Michigan, Kentucky, Pennsylvania.  None of the homes are sold "factory direct".  American Heritage Realty, Inc., an independent "authorized builder" is here to assist you throughout the building process.  All American is actually a subcontractor to American Heritage Realty.  We can do the complete general contracting, (so all you have to do is move in) or we can simply act as project manager to help you find the qualified subcontractors necessary to complete a typical All American Home.   Whatever way you decide to go, we are here to help you through the process.

2. Can I make changes to the plans?

Yes.  Except the Spirit & Liberty Series.  You're limited only by your imagination if you're building a ranch style home.  Our cape cod's offer excellent flexibility also.  Our two-story designs are more rigid but some floor plan changes can be made.  Porches, decks, garages, breezeways, and other additions are built on site and possibilities are endless.  There are two chances to make changes to the plans.  Before the order is placed you can make changes.  A preliminary plan is submitted by All American Homes based on the changes when the order is submitted.  You can make additional changes or clarifications at that time or sign off that they are just the way you want them.

3. Can I do some of the work or general contract the home myself?

Yes, we are qualified to do some of the general contracting.  Check with your lender to make sure they will allow you to be your own general contractor and then work out the details with us.  Many lenders are allowing it with All American Homes because the quality standards and cost controls are so much better than with site built construction.  Even so, American Heritage Realty flows all our projects through to completion to insure the subcontractors give you accurate estimates and know the proper timing of when their work fits into the total project.  The items that will be completed or contracted by you should be itemized as "by owner" on the construction agreement.

4. When does American Heritage Realty get involved?

We encourage you to consult with us even before you purchase your building site.  We can lead you to the best available building sites in the area you intend to build.   We can help you select and customize the plan that will best fit the site.

5. How do I get pricing?

All pricing is obtained through American Heritage Realty.  We encourage you to meet with us in order to get the best possible service during and after the completion of your new home.  Final pricing is done by American Heritage Realty after a site evaluation.  There are so many variables in the site work for a new home that working with us is essential to the successful completion of your new home.  There is no other accurate way for us to give you pricing on your new home other than to go to your building site and assess the site conditions.  You can certainly get estimates from builders before you purchase your building site, but non will really hold true if we have not done a site evaluation.

6. What’s the difference between a mobile home, modular home and manufactured home?

“Mobile home” is a term used for factory-built or manufactured homes produced prior to 1976, when the national building code went into effect.  Manufactured homes today are constructed entirely in the factory under federal building code administered by the U.S. Department of Housing and Urban Development (HUD) called Federal Manufactured Home Construction and Safety Standards.  Built entirely in a factory, manufactured homes are then transported to the site and installed.  Modular homes are also factory-built in sections, to state or local codes.  The modules are then transported to the home site and assembled.

Factories also produce what are called “panelized homes”—entire walls with windows, doors, wiring and outside siding constructed in factories and then transported to the site for assembly.  The homes must meet state and local building codes where they are assembled.  Likewise, “pre-cut” homes are factory-cut building materials used for on-site assembly, often of log, and dome homes, which must also meet local building codes.