Contemplating buying a new home in Atlanta?
For a lot of people, buying a home can be a stressful event. However, with a little planning ahead of time, it's not too complicated.
I like to supply buyers with a road map of the whole deal so they understand exactly what to expect.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have about this information.
Step 1 – Get ready to purchase
Before you commence your home search, there are many things you need to contemplate.
You'll most likely want to create a check list of items you need, get a plan of what school districts and neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or close to a third of your monthly income is a good guideline to follow.
Step 2 – Connect with a real estate agent
This is where I can help.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Atlanta area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.
I'll also help you begin the loan process.
I partner with some of Atlanta's best mortgage professionals, so you'll be in great hands.
They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, I'll start searching for available houses on the market that are a good fit for you.
I'll research most of the homes and eliminate the duds, and then we'll book appointments to tour the houses when it's convenient for you.
When we view homes, I'll point out good features and negative ones. I'll even ask you what things you like and don't like.
It's pretty common for buyers to update their must-have list as we tour houses and some things become more crucial than others.
If that's the case, I'll go back through the listings once again and trim it down to the house you've been dreaming about.
Step 4 – Comprehend the market
Your agent's awareness of the Atlanta home market is an imperative aspect in your home search. And I assure you I'm informed of all the school districts and neighborhoods, and I can alert you to some neighborhoods are "hot" and warrant immediate action and some that are "cold" and allow for thoughtful examination.
As we tour homes, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent in Atlanta will convince you they understand the home market, but be careful, and make sure you ask plenty of questions.
If it seems like they don't know everything, call me at (404) 419-3500 or e-mail me at , and I'd be happy to answer any questions you might have. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the house you've been waiting for
We'll find the home of your dreams in Atlanta, and when we do, I'll meticulously develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are getting financing, completing the inspection, and a clean title.
When sending in your offer, you'll need to submit "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property. The amount is usually applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer. It's extremely common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on the state of the market.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a contract that's best for you.
Step 7 – Get financing
Once we sign the final deal, you'll start working with your lender to close the loan.
If you're pre-qualified, this won't take much time at all. However, you'll need to stay in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) detailing your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll review the estimate and let you know if everything looks good.
Then it's time to close on your house. This will most often take place at a title company or escrow office and will probably be a smooth and pleasant event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at (404) 419-3500 or e-mail me at .