CONTEMPLATING BUYING A HOME IN METRO ATLANTA? I CAN HELP!

	When you're ready to get started, just contact me here or send an e-mail to dmenard@remax.net. I'm glad to address any questions you have regarding this information.

Step 1  -  Determine Your Wants And Needs

There are many things you need to consider before starting your home search. It's likely that you'll want to create an outline of must-have features, get an idea of what school districts you want to live in, and begin working on your budget.

Step 2  -  Get Pre-Approved For Mortgage

I'll assist you with getting started on your loan. If you have not spoken with a lender already then please call Kim King at SunTrust Mortgage. Kim can be reached anytime on her cell phone at (770) 617-6694 or by email at kim.king@suntrust.com  Once she has gotten you pre-approved she will send me a pre-approval letter. The pre-approval letter is required when financing any portion of your loan and will be submitted as part of the purchase and sales agreement when writing an offer. There will also be times when looking at foreclosures that whomever the bank may be will also require you to obtain a pre-approval through one of their own lenders.  You are not required to use them for your loan but just as part of their process. Wells Fargo & Bank of America usually require this process as well as a few others.

Step 3  -  Hire A REALTOR, Sign Buyer Brokerage Agreement

That's where I come in. We'll plan a time to talk about why you want to buy a home and get an idea of your upcoming plans. At this time we will go over the features you want and don't want in a home. At this point you will be asked to sign a buyer brokerage agreement. This is a Georgia required contract that enables us to work together and allows me to negotiate on your behalf.

Your client gateway will be your lifeline to your new home. This is a customized website that will be set up for you with all the features that we spoke about earlier. Once set up you will receive an email with a link so you may access the site 24hours/7days a week. You will then be able to organize your homes by likes, dislikes and possibilities, even make notes above each home so you don't forget what you liked best about that particular property.

Once you have your pre-approval letter you will now be ready to start looking at homes. I will have you start by picking 10 to 12 homes from your client gateway.  So we don't waste time, I will pull all property, call and check on availability and verify if any of these homes have current offers. I can now map the properties and schedule times for you to see them.

As we tour the homes, I'll point out good features, as well as negative ones. I'll also ask you what things you like and dislike. It's pretty common for buyers to amend their must-have list as we view homes and some things become more essential than others. If such is the case, I'll tweak your gateway in order for you to find that dream home you have been looking for.

Step 6  -  Get a feel for the market

My knowledge of the Metro Atlanta market is a valuable advantage in your search. Keeping you informed of which areas are "hot" and require immediate action and others that are "cold" and allow for cautiousness.

When working with an agent, trust your instincts and be sure to ask plenty of questions. Every real estate agent in Metro Atlanta will convince you they truly understand the market. If it doesn't seem like they know everything, contact me at (678) 897-9227 or e-mail me at dmenard@remax.net, and I'll be more than happy to answer your questions. If I don't know an answer to your question rest assured I will go and get it. My market knowledge will help you stay a step above the rest through the entire process.

Step 7  -  Find the house you've been looking for

I'm sure we'll find your dream home in Metro Atlanta, and when we do, I'll thoroughly create your home purchase offer. The offer will be made keeping your needs in mind along with other factors that will help us determine the best possible price and terms. Whenever necessary, the contract will be based contingent upon items like obtaining financing and the results of the home inspection. 
When we present your offer, you'll need to present "earnest money." This is a deposit given to the seller to secure the offer to purchase the property and is usually about 1% of the purchase price. The amount is put towards the cost of closing and will be reflected on the HUD1 Settlement Statement. If the offer is accepted by the seller, we should close on the home within 30 to 45 days afterward. This allows necessary time for your mortgage financing.

Most deals don't close on the beginning offer. It's very common to receive a counter offer. Don't let it intimidate you. We'll talk about whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the deal. We'll also work within your budget. And at the end of the day, we'll formulate a deal that's best for you.

It is not uncommon with the price of many foreclosures to get multiple offers on a property. If this happens, the listing agent will contact all buyer's agents and request a highest and best offer. This is your last chance to go in with the best possible offer terms you can. Once all highest and best offers come in the seller will make their decision on whom they would like to work with. Please note it is important to always go in with your highest and best terms up front as not all seller's will come back and ask for highest and best forcing you to lose the deal. If you go in with your best the first time, hopefully the end result will be an accepted offer.

Step 9  -  Secure Your Loan

Upon finalizing the contract, you'll start working with your lender to close the loan. This is called bank application. If you are within 30 days of closing, the lender will most likely lock in your interest rate. Your lender will also let you know what documents will be needed from you and the best way to submit them. If you are using Kim King you will upload your documents via her website. It is very crucial that you have this step completed within three days of the accepted offer. I'll manage all the property information your lender will need to close the loan.

Step 10  -  Complete Any Inspections During Due Diligence

This is your time to complete all inspections on the property including a home inspection, termite inspection, radon test, survey and septic tank (If Applicable). Your due diligence time starts when you have a fully executed contract and will run according to the contract. We usually ask for 10 to 14 days but is not uncommon to see 7 days on a foreclosure sale. This is also your time to get out of the contract without penalty if for some reason the home comes back with a bad home inspection. 

Step 11  -  Home Owner's Insurance

You will need to call and get some quotes for homeowner's insurance. Start by calling your current auto insurance carrier and ask for a multiple discount since you will have your home and auto insurance through them.  Once you have decided on a company you can give them your lender's information and they will send a binder to the lender for closing. Your first year of Homeowner's Insurance is paid in full at closing and is considered one of your pre-paid items that can be found on your good faith estimate.

Step 12  -  Turning On Utilities 

About a week prior to closing you can call the utility companies and have them transferred into your name for the day of closing. I can supply you with a list of names and numbers for your county if needed.

Step 13  -  Closing the deal 

Your mortgage lender will have already provided you with a Good Faith Estimate (GFE) of your closing costs and pre-paid items prior to writing a contract.

About two days prior to closing we will receive a HUD1 Settlement Statement from the Attorney.  This should come in pretty close to the GFE you received in the beginning of the transaction from your lender. I'll review the estimate and let you know if everything looks okay.

Then we'll close on your home. This will sometime's be handled in my office by our in house attorney or there will be times when we will be required to use the seller's attorney. Situations that usually require us to use their attorney's could be a foreclosure or a short sale.

Step 14  -  The Big Move 

CONGRATULATIONS! You are officially a homeowner and can move into your new home. Enjoy it! And if you need anything, just contact me at (678) 897-9227 or send me an e-mail. I will also follow up with you on occassion to make sure everything is going well.

Your REALTOR^® for life!

DIANE MENARD