Wednesday, 5 May 2021

5 Signs of Fraud When Buying a House in Atlanta

5 Signs of Fraud When Buying a House in Atlanta

You’ve probably spent years working hard, building your credit, and crimping and saving to come up with a down payment. And now – finally! – you’re about to purchase that home you’ve long been dreaming about. The last thing you want, then, is to become a victim of fraud when buying a house. Unfortunately, it’s more common and easier to fall prey to than you may think. Every year, thousands of homebuyers are reported victims of fraud, and many others never report it because they are too embarrassed. To help you avoid becoming a victim, we offer these 5 signs of fraud when buying a house in Atlanta.

1. Refusal to Meet Face to Face

Today, especially since the advent of COVID-19, a lot of business is conducted remotely and online. But when you’re buying a house in Atlanta and getting ready to hand over tens of thousands or maybe hundreds of thousands of dollars, the seller should be willing to meet with you face to face. A refusal to do so could be a sign of fraud.

“[N]neglecting to meet the seller or real estate agent in charge of selling the property in person, can be a huge mistake. If they’re always saying that they’re too busy to meet up, cancel on you at the last minute, or tell you they prefer doing business on another platform, be very wary. It’s likely that they aren’t who they say they are, and they want to scam you out of your hard-earned money.”

2. Refusal to Tour the House With You

Similarly, if the seller or her agent refuses to tour the house with you, lookout. This may not actually be a sign of fraud – people are, after all, extremely busy – but you should be on your toes if it does happen when buying a house in Atlanta.

According to industry pros, a seller’s refusal to show you the property herself should at least make you uncomfortable. “This is because it may mean that they’re not the ones in charge of selling the place, or that the property isn’t even [for] sale to begin with. If the seller recommends that you visit the property on your own, stay on high alert. Make sure that they take you and give you a tour of the place, so you can inspect the property and guarantee that the seller is telling the truth.”

3. Cover-Ups

Another sign of fraud when buying a house in Atlanta that should put you on high alert is a cosmetic cover-up of a major problem. An example of this would be repainting or drywall repair to hide or disguise water damage, which often means severe and toxic mold/mildew problems.

Your best bet to avoid falling prey to such cover-up is to find and hire a trusted, reputable inspector who can determine whether cosmetic fixes are hiding any underlying issues. Certainly, you’ll want to get references, but your Atlanta agent can be a great resource for finding a top-notch inspector. To find out more, just call 678-337-1165.

4. Indications of Wire Fraud

And then there’s the much too common wire fraud. So when buying a house in Atlanta beware of any indications that wire fraud is being attempted. It works like this . . . 

“You get an email, phone call, or text from someone purporting to be from the title or escrow company with instructions on where to wire your escrow funds. Fraudsters set up fake websites that appear similar to the title or lending company you’re working with, making it seem like the real deal. Scammers use spoofing tactics to make phone numbers, websites, and email addresses appear familiar, but one number or letter is off – an easy thing to miss at first glance.”

So the unsuspecting buyer follows the directions and wires the money, assuming all is well. But the buyer has in fact just become a victim of escrow wire fraud. The fraudsters/scammers make off with the money, and the defrauded buyer has little if any recourse. 

If you suspect this kind of fraud, call your lender to make sure the wiring instructions are legit. Your Atlanta agent will also be glad to provide any help you may need.

5. High-Pressure Tactics

A final, and often fairly obvious, sign of fraud when buying a house in Atlanta is high-pressure sales. The seller or agent (or both) may be the source of this. But if they pressure you too much or are too insistent, they’re likely hiding something. 

You should see “flashing big, yellow warning signs all over the place is if the seller is pressuring you too much to take their deal. A lot of times, real estate agents work on commission, which is why they may be eager for you to finalize the sale. However, if they’re being a little bit too insistent (for example, if they tell you to buy now to get a better price, or they warn you that there are other people ready to buy), you should walk away.”

Best Way to Avoid Fraud When Buying a House in Atlanta

Being armed with this knowledge can go a long way toward preventing you from becoming a victim of fraud. Still, there’s something more you can and should do. And that is to work with an experienced Atlanta real estate agent. Your agent will know about all the scams and signs of fraud out there and can help steer you away from shady deals. Don’t take a chance when buying a house in Atlanta: contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/fraud-when-buying-a-house-in-atlanta/
via https://www.freshstarthomesales.com

5 Things to Pay Attention to When Choosing Your New Atlanta Neighborhood

Buying the perfect house, your dream home, is as much about choosing the right neighborhood as it is about selecting the right house. For you are, after all, not just buying a home, but also buying into a neighborhood because it’s the area where you’ll live for many years to come. But you do need to know what to look for in a neighborhood. So check out these 5 things to pay attention to when choosing your new Atlanta neighborhood.

1. Crime Rates

Of course, you’ll want to check out the crime rates in any Atlanta neighborhood you’re considering. This is a top concern for almost all home buyers because we all want our families to be safe and property values to stay in good shape.

Sometimes, though, getting the real skinny on crime rates can be a bit of a challenge. Here’s what you can do:

  • Talk to local law enforcement agencies.
  • Talk to neighborhood residents (the people who really know what goes on in the neighborhood).
  • Check websites such as CrimeReports and SpotCrime.
  • Check the National Sex Offender Registry.

Also, be sure to talk to a Atlanta real estate agent. A local agent will have the lowdown on various neighborhoods in the area. Just call 678-337-1165.

2. Quality of Schools

The quality of a neighborhood is closely tied to the quality of the schools. Even if you don’t have school-aged children (or any kids), it still matters.

The school quality has a bearing on the resale value of your home, as well as how much it will appreciate. Generally, better schools mean better property values, which means that a home in that Atlanta neighborhood will be a good investment.

3. Lifestyle Suitability

You should also pay close attention to whether a particular Atlanta neighborhood will fit well with your lifestyle. 

For example, are you an empty-nester looking for a quiet, slow-paced neighborhood? Or is yours a family with small children? In that case, you’ll want a neighborhood with plenty of parks and open spaces and family eateries nearby.

Of course, your Atlanta agent will be your best resource for finding out about a neighborhood’s suitability. But you can also peruse neighborhood Facebook groups and websites like Nextdoor and WalkScore.

4. Pride of Ownership

For most buyers, a good Atlanta neighborhood is one in which the residents are deeply invested and where pride of ownership shows. So be sure to pay attention to whether you see signs that residents truly care about the appearance of their homes and the quality of the neighborhood.

Is there an HOA? If so, check out their guidelines. Also, take the time to walk around the neighborhood, observing the homes and chatting with people. And, as we’ve mentioned before, talk to your agent – she’ll have a good handle on this.

5. Proximity of Emergency Services

We hope you never have any medical or other emergencies, but they do happen. So you also need to make sure that a prospective Atlanta neighborhood has all the necessary emergency services nearby. 

Far-flung suburbs are often quite a distance from these services, so keep an eye out for, say, firehouses, police stations, urgent care centers, and so on. You want to be aware of these and know they are close enough before an emergency strikes.

Your Atlanta Agent Knows . . . 

You may find, though, that you just don’t have the time to thoroughly investigate a neighborhood, especially if you live in another town, county, or state. But that’s what your Atlanta agent is for. Your agent knows the local markets and the personality of specific neighborhoods. If you really want to know what a Atlanta neighborhood is like, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/choosing-your-new-atlanta-neighborhood/
via https://www.freshstarthomesales.com

Wednesday, 28 April 2021

6 Things Experienced Buyers Know, That First-Time Home Buyers in Atlanta May Be Unaware Of

First-time home buyers in Atlanta are almost always at a disadvantage. They are doing something they’ve never done before, and, having no experience with home buying, often wind up making big and costly mistakes. Experienced buyers, however, have been through it all before and know what to be aware of and what to look out for. But we’d like to save you the rough blows and unexpected expenses that are part of the school of experience and hard knocks. So here are 6 things experienced buyers know that first-time home buyers in Atlanta may be unaware of.

1. Shop for a Lender

First-time home buyers in Atlanta are often so excited about buying their first home that they don’t do due diligence with respect to lenders. They often go with the first lender who offers financing. But that’s a mistake.

First-time home buyers (or any buyer, really) should talk to more than one lender and shop for the best deal for their particular needs. Finding the right mortgage is almost as important as finding the right home. So first-time buyers in Atlanta should carefully consider these factors:

  • Interest rates
  • Origination fees
  • Mortgage insurance premiums 
  • Third-party fees

In addition, you should shop various types of lenders, for example, big banks, local banks, credit unions, and online lenders. The fact is if you go with the wrong lender, it could wind up costing you thousands of dollars over the life of the loan.

2. Buy for Tomorrow, Not Today

Another thing that most first-time home buyers in Atlanta are unaware of is that in buying a home they should really be buying for the future rather than merely for today. Needs, lifestyles, and family sizes can change quickly, and a home that suits your needs today may not in the near future.

Yes, you can always sell your home and trade up, but there can be huge financial drawbacks. On average, it takes about four years to recoup the costs of buying a home. So if you wind up having to sell in just a couple of years because you outgrew your home, you’ll likely lose thousands of dollars.

Your Atlanta agent can provide valuable assistance here, helping you select a home that will be right for you both today and tomorrow. To discover more about this, just call 678-337-1165.

3. Pay Attention With All Senses

Also, when viewing a potential home, you should use all your senses. First-time home buyers in Atlanta often make the mistake of using only their eyes.

For example, did you stumble downhill a little when entering a room? That probably indicates a sloping floor, which typically means foundation problems. Or did you detect a funny smell in the bathroom? That could be a sign of mold problems – and mold abatement is a long and expensive process.

Basically, you should use all your senses to detect possible problems and not just pay attention to the attractive things you see in the home. Your agent can be a valuable asset in this regard as well.

4. Inspectors Always Find Problems

First-time home buyers in Atlanta should also be aware that inspectors always find problems. This doesn’t necessarily mean that you should call the deal off, but you should pay attention to the inspection report.

You may be able to overlook minor things, but not major problems. If, say, the inspection finds that the roof needs to be replaced, it’s possible that you should reconsider. Or maybe you could have your agent negotiate a deal in which the seller repairs the roof or reduces the price.

5. The Escrow Account

And then there’s the escrow account, which many first-time home buyers in Atlanta are utterly unaware of. Surprise, out-of-pocket costs are no fun for anyone.

Some lenders require the setting up of an escrow account alongside the mortgage loan. Its purpose is to allow the lender to pay specific ongoing, property-related expenses on the borrower’s behalf – to make sure they get paid – such as private mortgage insurance and property taxes. Typically, the buyer will make a deposit into the escrow account at closing and then pay a little each month above the mortgage payment.

6. The Value of a Atlanta Agent

A final thing experienced buyers know that first-time home buyers are typically unaware of is the value of a good Atlanta agent. Experienced agents are top negotiators, and your agent can get you the best deal possible. Don’t pay more than you have to. Contact us today at 678-337-1165 if you’re one of the first-time home buyers in Atlanta.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/first-time-home-buyers-in-atlanta/
via https://www.freshstarthomesales.com

5 Resources to Help You Judge the Safety of a Atlanta Neighborhood Before Buying a Home

5 Resources to Help You Judge the Safety of a Atlanta Neighborhood Before Buying a Home

You’ve no doubt heard the old saying that only three things matter when it comes to real estate: location, location, and location. That is, of course, a cutesy and oversimplified piece of advice, but it’s still worth heeding, especially with respect to determining the safety of a neighborhood before buying a home. For location and safety go hand in hand, and you need to know before you buy. So be sure to check out these 5 resources to help you judge the safety of a Atlanta neighborhood before buying a home.

1. Crime-Mapping Services

Certainly, one of the best ways to determine the safety of a Atlanta neighborhood before buying a home is to look into the local crime rates. There are plenty of online venues that will allow you to do this, but a couple of the more reliable sites are CrimeReports and SpotCrime. 

You simply type in the address of the prospective home, and you’ll get a list of all the crimes committed in the area. Typically, you’ll get a breakdown of crimes by type and date committed. There is also a feature to allow you to compare the number of crimes committed in this neighborhood with crimes in other nearby areas, thus giving you an idea of how crimes in your prospective neighborhood stack up against those in surrounding areas and neighborhoods.

But you also need to be aware that crime rates don’t always tell the whole story. For example, the size of the neighborhood can skew the results because crimes committed in a small neighborhood will yield a higher crime rate.

For assistance interpreting crime-rate results, contact a Atlanta agent. To discover more, just call 678-337-1165.

2. National Sex Offender Public Website

Also, when it comes to crime rates and the safety of a Atlanta neighborhood before buying a home, it pays to drill down a little and get more specific. A great resource for parents considering a particular neighborhood is the National Sex Offender Public Website (NSOPW) – a free resource that provides information on registered sex offenders.

“Not only can you look up your current neighborhood to check for nearby offenders, but you can also investigate any potential new neighborhoods before relocating to an area. This tool is particularly helpful for those with children, as the website allows parents to access important information on any child predators in the neighborhood, and includes a photo of the offender. The website also provides important tips and advice on protecting yourself and your family from potential victimization.”

3. AreaVibes

AreaVibes is an online tool that allows you to easily check out a neighborhood before buying a home. It analyzes various communities and gives them a “Livability Score” of up to 100 based on important livability factors such as amenities, schools, cost of living, and the local housing market.

“AreaVibes also analyzes a neighborhood’s crime rate. All you have to do is enter the address, neighborhood, or zip code to see your city’s Livability Score and rankings. Within each city, AreaVibes provides a ‘Neighborhoods’ tab, which can be used to find specific information on individual communities. These neighborhood crime reports will give you a general idea of the safety level of that area.”

This tool will give you a good idea of the following:

  • A neighborhood’s overall crime statistics and crime rate
  • How it compares to both the state and national averages
  • The likelihood of your becoming a crime victim there

4. Your Feet and Your Mouth

A highly effective way of judging the safety of a Atlanta neighborhood before buying a home is simply by using your feet and mouth – that is, by walking around the neighborhood, observing and talking to residents. Online research works, but it just can’t beat in-person, local observation, taking in the small details, and chatting with people who live there.

But do try to visit the neighborhood on both weekdays and weekends and at different times of the day. For example, your new neighbor’s kid might get his drum kit out only during evenings or at weekends. And there might have been a reason the student house on the other side was so quiet on the morning of the open house: Its residents were too hungover to get up after one of their frequent all-night parties.

Neighborhood residents will have the best insight into what actually goes on in the neighborhood and what it’s really like. Talking to them will allow you to find how safe the neighborhood really is and just how well it will really suit you.

5. Consult Your Atlanta Agent About the Neighborhood Before Buying a Home

And definitely make a point to talk to your local real estate agent about the neighborhood. Your Atlanta agent will have a good handle on the safety of a neighborhood and its suitability for you and your family, having a thorough understanding of crime rates and neighborhood personality. So to accurately judge the safety of a Atlanta neighborhood before buying a home, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/safety-of-a-atlanta-neighborhood-before-buying-a-home/
via https://www.freshstarthomesales.com

Wednesday, 21 April 2021

How a Atlanta Agent Can Help When You Are Buying a House From a Friend or Family Member

Buying a house typically involves a long and complicated process and not a little anxiety. So buying a house from a friend or family member can often seem like an easy solution to make the process quick and manageable. And it can be – if everything goes right. But there are many pitfalls and complications that can often be handled only with the help of an agent. Read on, then, to find out how a Atlanta agent can help when you are buying a house from a friend or family member.

TransactionTerms

First, we need to look at some terms, that is, arms-length transaction and non-arm’s-length transaction.

An arm’s-length transaction is the standard type of transaction involved in buying a Atlanta house. “An arm’s length transaction is a transaction between two parties who don’t have a relationship with one another – whether that’s a family tie, a business connection, etc. Each party is confidently able to act in their own self-interest. For example, when you buy a house from a stranger, it’s considered an arm’s length transaction.”

A non-arm’s-length transaction, on the other hand, is a real estate deal with someone you do have a relationship with, most often a friend or family member. “When a relationship like this exists, there is a greater chance that one party could manipulate the other party in some way, or both parties could work together to try to cheat the fair market price of the home. This is an example of mortgage fraud.”

And that’s why – owing to the possibility of fraud and the legal implications – we want to examine the important role an agent can play when you’re buying a house from a friend or family member. To discover even more about this, contact a Atlanta agent at 678-337-1165.

Legal Aspects of Buying From a Friend/Family Member

This type of real estate transaction is indeed legal, but there are some considerations to keep in mind . . . 

First, there’s the possibility of fraud, and that’s where the principle of transfer pricing comes in. This requires that the sale price of the house be the same as it would be for a transaction between strangers in an arm’s-length transaction to protect involved parties against manipulation. A Atlanta agent can help with pricing to keep you out of legal hot water.

In addition, because of the fraud potential, buying a house from a friend or family member (a non-arm’s-length transaction)  is “treated with a higher scrutiny than an arm’s-length transaction. There are more government and individual lender guidelines to follow when trying to get a mortgage for a home. There are a few things lenders want to guard against in family deals, and some of them are for your own benefit.”

Areas Where a Atlanta Agent Can Help

Buying a house from a friend or family member can raise any number of sticky issues. So let’s look at just a few of these that a Atlanta agent can assist you with . . . 

ADDITIONAL RESTRICTIONS

“With a non-arm’s-length transaction, you’re going to risk running into more obstacles with getting a loan because of all the added restrictions, and you may be subject to extra taxes because the IRS will be watching closely to make sure a fair market value – and interest amount – is paid for the home. If you buy the home at a cheaper price and then sell it within a few years, you may be subject to capital gains taxes as well.”

EMOTIONAL RESPONSES FROM OTHERS

Buying from a friend or family member can elicit envy or jealousy from other close friends or family members. Your agent can help steer things to keep them on an objective footing, making sure the transaction is treated purely as a business deal.

CHANGE IN SELLER’S FINANCIAL POSITION

“The next potential pitfall is a sudden shift in the seller’s financial situation, which could move them to ask you for more money on the purchase, especially if they provided the loan for you instead of a mortgage lender.” This is a situation in which your Atlanta agent’s cool negotiating skills will prove their worth.

You Must Find Out . . .

Also, when buying a house from a friend or family member, you absolutely must know everything you can about the house. The problem, though, is that full disclosure is often harder to come by in such situations. Your Atlanta agent can help you find out what you need to know about these critical points – before it’s too late: 

  • Whether the friend/family member is current on mortgage payments
  • Whether the title is clear, without any liens or other encumbrances
  • When and how to get the legal assistance you may need

Buying from a friend or family member can be a great way to simplify a complex process. But it is also fraught with dangers and littered with legalities. So be sure to get the help you need. If you’re considering buying a house from a friend or family member, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/atlanta-agent-help-when-buying-a-house/
via https://www.freshstarthomesales.com

5 Things To Do Today if You are Thinking of Buying a New Home Within the Next Year in Atlanta

5 Things To Do Today if You are Thinking of Buying a New Home Within the Next Year in Atlanta

Anyone thinking about buying a new home within the next few months or within the next had better be ready for some competition and a tough market. If you’re a prospective buyer and you want to “win,” you’ll have to be prepared – with the right expectations, with a compelling offer, with the right tools, and with some financial readiness. So check out these 5 things to do today if you are thinking of buying a new home within the next year in Atlanta.

1. Prepare for Low Inventory and More Competition

First, if if you’re thinking of buying a new home within the next year in Atlanta, you need to prepare for competition. “If you find a reasonably priced house in good condition, chances are you won’t be the only one making an offer – even if it just hit the market. It is a seller’s market in just about every part of the country . . . ‘Seller’s market’ is a real estate term used when there are more prospective buyers than homes for sale.”

When inventory is low – with more buyers than available houses – and competition is stiff, two things typically come into play. First, you’ll have to be flexible to gain a competitive edge, often having to make concessions to ensure yours is the winning bid.

The second thing is that most buyers will benefit immensely from the services of a good local agent – especially her negotiating expertise in this seller’s market. To discover more, contact a Atlanta agent at 678-337-1165.

2. Be Ready for Prices to Continue Rising

Another preparatory thing to do ahead of buying a new home involves the continuing rise in prices. “Real estate experts expect home prices to go up in 2021, but not as fast as they did in 2020. Prices of existing homes are projected to increase 3.1% in 2021, compared with a 6.7% jump in2020, according to an average of forecasts from Fannie Mae, FreddieMac, the National Association of Realtors and the Mortgage Bankers Association.”

And this means, of course, that you’ll need to plan your purchase and time it right, keeping in mind the following:

  • Home prices vary by season, so when you buy is important.
  • Homes are typically priced highest during June/July and lowest during January/February.
  • There will be more listings during warm months and fewer during colder months.
  • Demand will remain high in all months.

So, again, to avoid paying too much during this time of rising home prices, be sure to lean on your agent’s expertise to get the best deal at the best time.

3. Pay Off Debt and Build a Reserve Fund

With low inventory and ever-increasing prices, buying a new home in Atlanta within the next year almost demands that you pay down or off all your debt and build an emergency fund. And here’s why . . . 

Owning a home is usually more costly than renting even if the monthly mortgage payment is about the same as (or even less than) your monthly rent. When you own your own home, you’ll be responsible for all the maintenance and repairs, as well as the many recurring costs such as property taxes, homeowners insurance, HOA fees, and more. 

4. Determine What You Can Actually Afford

Determining exactly how much home you can actually afford is another of the things to do today if you’re thinking of buying a new home within the next year in Atlanta. And this means primarily budgeting carefully and sticking to the budget to make this determination. 

Some things to include in your preparatory budget are:

  • Saving for the down payment
  • Monthly mortgage payment
  • Maintenance/repair costs
  • Recurring expenses
  • Saving for emergencies

Keep in mind that property taxes and insurance premiums vary from area to area and city to city. So be sure to check with your Atlanta agent in order to budget accurately for these.

5. Learn How to Use Digital Tools

COVID-19 has changed . . . well, just about everything. And that includes the real estate industry. Now and for the foreseeable future, traditional in-person showings and other common aspects of real estate transactions have nearly ceased to exist. Today, such things as virtual tours and remote closings are the norm.

So buying a new home within the next year in Atlanta means that you’ll have to master some digital technology. “Buying a home became more challenging in 2020 as the COVID-19 pandemic turned everything upside down. But real estate agents, lenders, buyers, and sellers figured out how to make the process work in an asocially distanced world. Virtual home tours, e-closings, smaller open houses, and Zoom meetings helped keep business going while keeping people safe.”

And Find a Good Atlanta Agent

As you can see, then, a common thread running through all these tips is the value of an experienced local agent. Buying a new home within the next year comes with several challenges, a few of which have never existed before. And that’s where a good agent can really prove her worth. So if you’re in the market for buying a new home within the next year in Atlanta and want to do it in the best way possible, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/buying-a-new-home-within-the-next-year-in-atlanta/
via https://www.freshstarthomesales.com

Wednesday, 14 April 2021

5 Solutions to Help Anyone Buy Their First Home in Atlanta

5 Solutions to Help Anyone Buy Their First Home in Atlanta

Buying your first home is seldom easy. It can (and usually does) test your patience, your endurance, and your resilience – and there are many ways the whole process can slide sideways, resulting in a missed opportunity or (even worse) a purchase you come to regret. And that’s why most first-time buyers will benefit from a little help and guidance. With that in mind, we offer these 5 solutions to help anyone buy their first home in Atlanta.

1. Make Sure You’re Ready to Buy That First Home 

Your very first step toward buying your first home in Atlanta should be to determine whether you are really ready to do it. “Homeownership is a lot more expensive than renting since you’re responsible for added costs like home repairs, utility costs, garbage pickup, water, and electricity. You also need to pay for taxes and insurance related to your home. These costs add up quickly, and if you are not financially prepared, you may end up in a bad position.”

Take a look, then, at your debt and begin reducing it in order to be in a better position to afford all the costs of buying and owning your first home in Atlanta. Also, you can determine your readiness to buy a home by setting up – and sticking to – a budget that parallels the costs of homeownership. If you’re able to stick to it and put all the money set aside in savings for a few months, then you likely are ready to buy that first home.

2. Get Preapproved Early On

Now, after determining your readiness to buy and ability to afford the costs of ownership, you should get preapproved for a mortgage loan. In fact, you should apply for preapproval before you even start shopping for a first home in Atlanta.

“A mortgage preapproval is a lender’s offer to loan you a certain amount under specific terms. Having a preapproval letter shows home sellers and real estate agents that you’re a serious buyer, and can give you an edge over home shoppers who haven’t taken this step yet.”

3. Understand Your Loan Options

Also, in buying your first home in Atlanta, you should shop for lenders. Don’t just jump at the first offer of a loan from a lender because you may be able to get a better deal elsewhere. 

In addition, it’s a good idea to have some understanding of the various loan options in order to know what is best for your situation. Are you, for example, aware of the various options that will allow you to avoid paying for private mortgage insurance (PMI)? These are . . . 

  • A conventional mortgage with a 20% down payment
  • USDA loan/VA loan – zero down payment programs
  • FHA loan – 3.5% down payment often without PMI requirement
  • 80/10/10– “10% down payment with 10% as a second mortgage to avoid PMI, which in turn lowers the monthly rate, more often than not”

Your Atlanta real estate agent can provide some assistance in this area. To discover more, just call 678-337-1165.

4. Choose the Right House and Neighborhood

Sure, you want to buy a Atlanta first home that ticks as many items on your have-to-have and want-to-have lists as possible. But keep in mind that the neighborhood is just as important as the home itself. For you aren’t just buying a home – you’re also buying into the neighborhood. So here are a couple of things to be mindful of . . . 

“Think about your long-term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow. Check out potential neighborhoods thoroughly. Choose one with amenities that are important to you, and test out the commute to work during rush hour.”

5. Find the Right Agent

And, certainly, one of the most important solutions for buying your first home in Atlanta is having the right agent in your corner. “The agent/buyer bond is particularly strong with first-time homebuyers .. . as the buyers often need extra detailed explanations of each step in the process. This certainly takes more time, effort, and patience on the part of the agent, and not all agents are naturals in this department. It’s important to feel comfortable with your agent like you can ask questions and get reliable answers.”

But finding an agent who can and will do these things typically requires a lot of time researching and interviewing several agents to find the one who is the best fit for you. There is, though, an easier and better way. And that is to go with an agency known for agents who have the necessary experience and expertise, as well as the willingness to do what clients need. So if you’re ready to buy that first home in Atlanta, contact us today at 678-337-1165.



from Blog – Fresh Start Home Sales https://www.freshstarthomesales.com/first-home-in-atlanta/
via https://www.freshstarthomesales.com