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Like everything, there is an easy way and a hard way to do things. In the case of buying real estate you really owe it to yourself to take the easiest way. Below is a guideline that you should follow to make your home buying experience as easy and stress free as possible. These steps won’t cost you, as the buyer, any money and they will make your home buying experience very easy.
Hire a Realtor – There is no reason that you should weed through all of the available homes in your area without consulting a real estate professional who is familiar with the homes.
Sign a Brokerage Agreement – By doing this you will have a real estate professional representing you for the entire process.
Get Pre-qualified – You need to know how much house you can afford. In Georgia, the new real estate contracts have a financing contingency that stipulates how long you have to determine if you will qualify for the loan. Don’t be caught off guard. If you later cannot get approved, you will be in breech of contract.
Now Start Looking at Homes – Now you have the information you need to begin your home search.
Once you have found your home, there are certain things you will need to make an informed decision.
Seller’s Disclosure – This is a form that is filled out by the seller identifying various items and their condition in the house. The seller’s answers will help you determine your offer price.
Market Analysis (CMA) – Your Realtor will put together an analysis of comparable homes sold so that you can make an educated offer on the home.
Make Your Offer – The information in the CMA and Seller’s disclosure will guide your decision here. There are other factors such as your emotional attachment, but, you need these items to make an informed decision. You will now negotiate if necessary to obtain a price that is acceptable to both you and the seller. Make sure all offers are in writing.
Notify Your Lender – Your lender will need all of the paperwork to begin processing the loan.
Hire an Inspector – An objective professional will really help you determine if there are any items that need repairs – in many cases you may ask the seller to make the repairs.
Under Contract – Once you negotiate the repairs and agree with the seller on what will be repaired and you have it in writing, you are under contract.
Utilities – Do not forget to get all of your utilities turned on before you move. If you wait until the day you move you might find yourself in the dark for a couple of days. Your Realtor or the seller will be able to help you find all of the correct phone numbers.
Final Walkthrough – Don’t forget to do a final walkthrough the day of or the day before you close. If there are any items missed on your repair list or the house is in a materially different condition than it was when you made your offer, the seller may still have some work to do.
Close Your Loan – Congratulations! You just bought a house.
Now, there are a number of reasons that you want a real estate professional with you through this process. One is to ensure that no items get overlooked. Another is to protect your interest when negotiating the contracts. There is specific language that must be followed to create an enforceable contract. A Realtor can remain objective in what is usually an emotional time.
Buying a home is an exciting time, but, it can be overwhelming. Make sure you have the help of a Realtor when you buy your next house.
Ryan Ward of Classic Atlanta Properties is a member of the national, state and local REALTOR associations, and resident of Alpharetta, Georgia who specializes in listing and selling real estate in Sandy Springs, Roswell and Alpharetta. For more information about Ryan Ward and Classic Atlanta Properties visit his Alpharetta Real Estate website or call 404-630-3187.
Article Source: http://EzineArticles.com/?expert=R._Ward
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