Home Buying

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So many want to own a place to call home –a place that belongs exclusively to them. However, some become overwhelmed by the process and get cold feet. Often, it’s because they didn’t know what to expect. Home buying can be a little intimidating, especially to the first time home buyer, but if you are familiar with the process, things can go quite smoothly.

Hire An Agent

Start by hiring an agent to represent you. You may be asked to sign a broker’s agreement, though in Georgia, the seller usually pays your agent’s commission. This gives the agent license to act on your behalf and open doors for you. Try to find someone with whom you feel very comfortable.

Get Pre-Approved

Your lender or mortgage broker will provide you with a  loan pre-approval letter that verifies your income as well as your credit scores. Make sure you choose a loan amount that you are comfortable with the resulting monthly payment.

Look For Homes

Finally, you should start looking for a home. Ask your agent to show you around. Narrow down your most important personal preferences and visit open house events. Keep an open mind about short sales, foreclosures, fixer-uppers and REO’s.

Make An Offer

Write an offer. Choose an amount you think the seller is willing to accept, but stay within your comfort level (without appearing to  low-ball the seller). Your realtor will guide you. The seller will most likely respond with a counter offer, or accept your offer if it is appealing.

Get An Appraisal

If the appraisal is low, discuss your options with your agent. In some cases, the lenders may ask for additional information. When they are satisfied with the information provided, they will submit it for the final underwriter approval.

Approve Disclosures By Seller

Read and ask about the documents you do not understand. These documents include: seller’s property disclosure, natural hazard reports and pest inspections.

Get An Inspection

Choose a reputable inspection company. Bring a checklist with you. If there are issues that you feel need to be addressed, then request a repair from the seller. If everything is acceptable, move forward.

Final Walk-through

Do a final walk through on the day of the closing or as close to the closing as possible. Make sure the condition of the property is satisfactory. Head to closing.

Close

After signing the documents, you will receive the keys to your new home at the closing table, along with any requested reports or repair invoices etc. The deed is later recorded and sent to you.  You are now the proud owner of a new home. Celebrate and Enjoy!!