Just want to get an idea of what to expect when thinking about buying a home? Are you a first time buyer or maybe it’s been awhile since you’ve purchased a home? It can be overwhelming, so I’ve broken down the home buying process in Atlanta, Georgia to 10 steps. It’s the bare bones minimum, or the BIG PICTURE perspective; just the basics. So, if you are a details person, like me, schedule some time with me and I will cover as much detail as you need to get that warm and fuzzy feeling about buying real estate in Georgia 🙂
- Hire a Great Agent: This is the first step because this is THE MOST IMPORTANT step. A great agent will do so much more than you expect, but your relationship should start with a thorough explanation and understanding of what a Buyer’s agent does for you. Read this article, How to find the very Best Buyer’s Agent, for more details on why it’s important to be intentional in who you hire to represent you. The best agent will be with you during each and every of the steps that folllow.
- Check Your Credit : If you haven’t been the best borrower, it’s never too late to start! Use free credit check opportunites through resources like annualcreditreport.com or creditkarma. Your score will determine what rate a lender can guarantee you for the loan. If you have excellent credit, then you can get an excellent rate.
- Gather Your Down Payment: If you already have some money stashed, pat yourself on the back! If not, you may be eligible for down payment assistance and/or grant programs. A great agent will be knowledgable on what programs are available in your area and who to connect you with to see if you qualify. Check out my article on Where to find money for a Down Payment.
- Get your Financing Pre-Approved: Getting pre-approved will give you an idea of your budget, but be sure to ask what this will be as a monthly payment. A monthly payment will consist of principal, interest, taxes, and insurance. Getting pre-approved with a reputable lender will be to your advantage when you are ready to make an offer. Read my articles, Do the Math: A Mortgage You can Afford and 5 Steps to Obtaining a Mortgage AND How to finance your First Home for more details and insight !
- Go Home Shopping: This is the fun part. You’ll be able to trust that a great agent understand’s your vision and isn’t just selling you a house. A great agent is going to help you find what your looking for within budget and in an ideal location. More on this in my article, It’s the Fun House Hunting Guide.
- Make An Offer: In Georgia, the Purchase and Sale Agreement is known as “the offer” and consists of purchase price, earnest money, and a multitude of possibilities for contingencies, inspections, and stipulations. It’s written by attorneys and completed by your real estate agent. Each item should be explained thoroughly so you can make the best decision based on the information given to you. Read more in Make the Winning Offer without going Overboard.
- Complete Home Inspections: Home inspections are conducted to ensure you understand the condition and systems of the home you are buying. This is your opportunity to assess any defects and negotiate appropriate repairs or concessions. Sellers are required by law to disclose any known defects, but it’s your job as the buyer to have all inspections completed prior to purchasing the home, and preferably within a period of time in which your earnest money is protected. More on home inspections here: How to Navigate a Home Inspection
- Have the Home Appraised : The appraisal will be ordered by your lending institution and will be conducted by a third party. Read What Happens after going Under Contract for the full scoop!
- Close the Deal: Traditionally, Georgia real estate closings are facilitated by an attorney and conducted simultaneously for buyers and Sellers. Buyer financing is secured and the Seller’s transfer of ownership is completed at the same table. What happens before closing article here and How to make Closing day Successful.
- Move in to Your New Home! You’ve done it! The keys are yours and now you get to begin a new chapter of life. Congrats! j
These 10 steps to buying a home in Georgia are as simple as it gets. Contact me to learn more!
I'm Morgan and I love helping professionals in the aviation industry make their move to Atlanta as smooth as a greased landing. Whether its relocation, buying for the first time, or selling luxury and aviation real estate properties, I can help you transition smoothly.
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Sharpsburg, GA 30265
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