Deadline nears for student loan consolidation

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The July 1 deadline is fast approaching for college graduates to consolidate their student loans -- and they'd better not wait until the last minute and pull an all-nighter to complete this assignment.
It's always better to borrow money when it's cheap and you can lock in the rate. Even though the Fed has been on a tightening roll, bumping up the fed funds rate at each of the past eight Federal Open Market Committee meetings, money is still cheap for student borrowers who move fast.

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The Asking Price

So you love the house. Well, that's all well and good, but as your father may have said of your prospective spouse, "How much should you really be paying?"

Here's where your buyer broker is really going to come in handy.(Don't have a buyer broker yet? Here's help.) She should be able to guide you through the process of making an offer that both is within your range and not likely to offend the sellers. (Yes, they're thin-skinned, sensitive types just like you and me.)

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Offer And Counteroffer

You offer $198,000 for a house that has an asking price of $210,000. The seller comes back and says you can have the house for $205,000. What do you do?

Much of what you need to know you should already have found out, before your initial offer. There are, though, a few things to keep in mind at this new stage.

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The Home Inspection

No matter how many times you've toured your new house, there will always be something that you're going to miss. Why kick yourself later when you can hire someone to make sure that everything's up to snuff?

You need to find a good home inspector. He's going to give you information that will either set your mind at ease, send you back to the negotiating table, or send you back to the hunt. In any event, it's critical information.

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Closing Costs and Hidden Cost

Closing costs are the innumerable fees and taxes associated with purchasing and taking ownership of a home. They include searches, clearances, and reports to process the transaction. Depending on where you live and the complexity of your transaction, they can easily add up to thousands of dollars. They're generally around 3% to 6% of the purchase price of the home.

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Pre-Closing

Once your offer has been accepted, your financing is in place, and your home inspector has given the thumbs up, you're ready to do the deal, that is, to close.

Before that actually takes place, though, you need to get a few things in order.

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Closing

The big day is here: the day on which, officially, you become a homeowner. You're going off to "settle" the deal, to "close" on your new home. What's going to happen? What should you expect, and what do you need to bring?

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