Atlanta Buyer's ABC's of Purchasing a Home.

Below is an outline of the home buying process. It is merely an outline and should not be considered as all inclusive.

Time Frame -Real Estate transactions adhere to strict timelines. Your agent should always identify your time frame to close before beginning your home search.

Selling your current home -Depending on current market conditions, your home may sell quickly. If you have a current home to sell before purchasing, you should have this home listed before viewing potential new homes with your agent.

Importance of a Contract - If you must sell a home before purchasing another, then having a firm contract on your existing home is imperative. Your contract will state specific time frames and dates. Incorporating this information into your new contract is crucial. Setting Contingencies based on dates from your original contract helps to keep you protected.

Relocation Requirements - If you're relocating to the Atlanta Area via a company relocation program, it is imperative your agent understand the relocation requirements set forth by your employer.

Pre Approval - Many lenders have tightened lending standards since the great recession and the collapse of the housing market. Obtaining a pre-qualification letter from a lender is imperative. This may be accomplished in as little as 15 minutes with one of my preferred lenders.

Locate and View properties - Once you have a pre-qualification letter and/or your home listed, it is time to locate your new home. Your agent should help you locate properties, schedule viewing times and show you properties.

Placing an offer - Once you locate a home and the above mentioned criteria is in place, it is time to present an offer. Your agent will draft the contract and should recommend a strategic negotiation plan before presenting the offer.

Offer Acceptance - Once your offer is accepted, time frames listed in the contract start accruing. Home Inspections, Documentation to your lender for loan approval, Appraisals, Closing Dates and more must be coordinated to meet the requirements of contract.

Home Inspections - One of the most important elements in the home buying process is a home inspection. In addition having the right home inspector is just as crucial as having the inspection. We provide several reputable home inspection companies to our clients.

The Appraisal - The appraisal for your new home is ordered by the lender providing the home loan. With the Atlanta Real Estate market in recovery, appraisals are generally lagging behind current contracted sales prices. The offer on your new home should always contain a contingency clause stating the home must appraise for the contracted sales price.

The Closing and Title Insurance - Title Insurance will be offered to you by the closing attorney. This is basically a one time fee covering any items missed by the title company when preforming a background title search on the property you intend to purchase.

CALL ME at 678-617-7167 to discuss your Real Estate needs. We handle Real Estate Investments, Residential Real Estate, Commercial Development, Commercial Sales and Leasing, REO Properties, Short Sales and Atlanta Foreclosures.

Mark Tidwell 678.617.7167
Linc Realty of Atlanta 678.394.3200

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