Buyers Tips

Buying a home in the Atlanta area can be exciting. Receiving professional guidance from your agent can make the process smooth and stress free. Use these tips to make your home buying experience a success.

Tip #1 - WORK WITH A BUYERS AGENT
Your first task is to select a buyer agent. Their job is save you time, energy and frustration. Our team is prepared to research comparable homes, assemble documentation for purchases, schedule showings and drive you to homes that meet your criteria.

Tip #2 - PRE-QUALIFICATION
Meet with a mortgage broker to find out what you qualify for before looking at homes. You want to know what you can afford to pay for you new home so that no time is wasted. Our preferred mortgage broker will be happy to assist you.

Tip #3 - PRE-APPROVAL
Pre-qualification is important in assisting you with finding out what you can afford. However, sellers tend to be more receptive to buyers who have been pre-approved. You'll also avoid the disappointment of focusing on a particular home, only to find it out of your price range. Through pre-approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. Having received pre-approval, the seller will consider you as a serious buyer. Costs for pre-approval are generally nominal and lenders will wait for payment until you close the loan.

Tip #4 - MAKE A LIST OF NEEDS & WANTS
Make two lists - one of your needs (the number of bedrooms you need, the number of bathrooms, one-story house if accessibility is a factor, etc.) and one of your wants (pool, den, etc.). As you review possible homes, compare the home's features against your chart until you find the best possible match.

Tip #5 - FOCUS & ORGANIZATION
When searching for a home, being organized makes the home search process easy. Consider keeping a file of the property flyers you collect from the homes you are most interested in along with a MLS print out of the property provided by your agent. Create a map of areas you are most interested in, leaving room for indications of homes you are interested in for easy reference. Bring paper and pen with you so you can take notes while viewing properties. You may also want to consider bringing a digital or video camera to help refresh your memory regarding homes you are most interested in.

Tip #6 - LOCATION
Consider school districts, crime rate, proximity to positives (shopping, parks, freeway access) and negatives (abandoned properties, garbage dump, source of noise) features of the area.

Tip #7 - VISUALIZE & BE OBJECTIVE
Take the time to imagine the house with your décor. Are the rooms laid out to fit your needs? Is there enough light? Does this home really meet your needs? There are many houses on the market, so don't make a hurried decision that you may later regret. Instead of thinking with your heart when you find a home, think with your head.

Tip #8 - BE THOROUGH
Make sure that all inspection & mortgage contingencies are included in your offer. Take the time to have the property inspected by a professional inspector. Request a second walk-through to take place within 24 hours prior to closing. Make sure that the property is in the same condition it was in when you saw the home initially. Check to see that no unexpected changes have been made to the property (i.e., a nice chandelier that you assumed came with the sale replaced by a cheap ceiling light).

Tip #9 - PRESENTING YOUR OFFER TO PURCHASE
Once you find your dream home, your agent will prepare a purchase and sale agreement that defines the terms of your offer to purchase the home. Typically, there will be negotiations, by use of counteroffers, before acceptance of the agreement by both purchaser and seller. Through it all, your agent will assist you in making wise decisions so that you pay the best price for your new home.

Tip #10 - HOW TO NEGOTIATE WITH SELLERS
Be prepared! Along with your agent, research the housing market in the area where you are seeking to purchase.Try to determine answers to such questions as how much the seller originally paid for the home, is there a time frame that the seller must sell the home and if this fits in your schedule and are there any defects with the home.

As the potential buyer, you want to establish the advantage. While you want answers to all your questions from the seller, reveal very little about your circumstances. Do not give the seller personal information such as your income, the maximum you are able to pay for a down payment or the home, or when you want to move. A professional agent will not to reveal this information to the seller or the seller's agent.

Also, do not show the seller that you really want the property. If you appear overly enthusiastic or desperate, the seller achieves the stronger bargaining position. When meeting with the seller or listing agent, keep your emotions in check.

You also need to determine if the seller needs to close the sale sooner rather than later. If the seller is pressured to sell, leverage your advantage in negotiations. Even if you, the buyer, have a deadline for purchasing a home, don't let yourself be rushed into making concessions or a purchase you may later regret.

Tip #11 - PREPARING FOR THE CLOSING
Once the seller has accepted your offer, you need to move quickly to satisfy any contingencies in the contract, such as the right to inspect the property and the clause giving you time to arrange financing. Financing will require the most time to arrange, so it is very important to begin seeking financing immediately if you have not already done so.

Once your loan is approved, a closing will be scheduled. Closing attorneys usually wait until just prior to closing to prepare the closing statement. This makes it difficult for your real estate agent to provide you with an exact figure of the funds you will need at closing. However, your mortgage company will have provided a "good faith estimate" of costs at time of application.

At the closing you will sign all necessary loan documents (many), and pay the balance of your down payment with certified funds. The seller, having paid off any liens not assumed by you, will sign a deed transferring ownership to you and give you the keys.

Congratulations! You are the proud owner of your new home!

About Us                     Selling a Property                     Featured Properties                     Property Search                     Resources                     Contact Us
Site created and maintained by Graham Media Group.