Most buyers think the first step to home ownership is finding the house. Really there are two steps that are crucial before you ever start your home search.
Interview several agents and select one with whom you feel comfortable, have confidence in and trust. Buying a home is usually and emotionally charged event of financial significance. The level of experience and professionalism coupled with a genuine interest in your needs is the foundation of Glennda Baker & Associates. Any real estate licensee can give you a list of home printouts and access to property. We all for the most part have access to the same information. The difference is that combination of unique skills and expertise to identify the buyer's needs whether you are looking for your first home, your dream home or each and every home along the way. Not only will you save time and energy working with a qualified buyer's agent, they will assist you in narrowing down and discerning the items that are important to you now, at the time of purchase and later, when you are ready to sell and move on to your next home.
Another issue you may not realize is that the listing agent represents the seller and their sole interest, and while you may feel like you save money working only with the listing agent in the transaction, you right off the bat put yourself at a disadvantage. The listing agent is legally obligated to represent the interest of the seller and to get the most beneficial deal for the seller, not the buyer.
The relationship you develop with your buyer's agent can be a little like a marriage, it is based on trust, understanding and a mutual goal, finding you the home that best meets your needs and desires. You entrust your buyer's agent to keep your interest first and foremost. It is important to establish at the first meeting whom the agent you are speaking with represents. Entering into an exclusive buyer's brokerage agreement insures that the buyer's agent you have selected to work with can represent you in the most effective manner.
Find a mortgage lender of your choice and get approved for a loan if you require financing to make the deal happen. In today's market most sellers will not even entertain an offer that does not include an approval letter for a reputable lender stating that you can qualify to buy the home on which you are making an offer. This is an integral part of the process and one to be done before you get in the car with a professional REALTOR. At Glennda Baker & Associates we are here to help you and are happy to refer you to our team of lending specialists. Your approved status lets the seller know that you are a serious buyer that the lender is ready to work with you to buy and the likelihood of obstacles is minimal.
Now that you know who you want to work with and what you can afford it is time to find your home. There are few things that are as exciting as buying a home. House hunting while fun and exciting can prove to be difficult and challenging all in the same breath. You will most likely experience a gamut of emotions throughout the process. No worries, this is normal!
Glennda Baker & Associates will work with you on a well-organized house buying plan. Determining your ability to buy, what you want, what you need and having a plan will help us create an exemplary buying experience for you and ultimately help you reach your goals in the timeliest manner.
Making the offer is one of the exciting times in the process. Glennda Baker & Associates will discuss with you the comparable sales in the neighborhood, current trends and values to assist you in determining an offer price. Now is the time when we will establish the earnest money deposit, whether or not we will ask the seller to contribute towards your closing costs, a closing date, inspection time frames, earnest money deposit and any special stipulations that we will include in you initial offer. We will then prepare a written offer to be presented to the seller that we will professionally negotiate for you, representing your best interests.
Once the offer is submitted to the seller, they will then have the opportunity to accept your offer as is, counter your offer or reject the offer. Be aware that during the negotiating period the seller may still receive other offers to purchase and can accept any other offer by withdrawing the outstanding counter offers made to you. It is important to make decisions promptly and to be available during the negotiating period. Once an agreement is reached and all of the parties have accepted the term and you have been notified in writing we have a binding agreement. An offer can become a contract with the stroke of a pen. Once the offer is accepted it is a contract, a legal and binding document and proceeding in good faith and in a timely manner is not optional.
During this period you will have the opportunity to conduct all of your inspections, get an appraisal, secure your loan and remove or satisfy any contingencies that are in the contract. Once you loan has gone through underwriting a closing will be set at the closing attorney's office. In the state of Georgia the closing attorney represents the lender not the seller or the buyer. At closing you will execute all of the necessary loan documents and pay the balance of the down payment with certified funds. The closing attorney will not accept a personal check over $1,000. It is important to work with the lender prior to closing to obtain an accurate estimate needed for closing.
The attorney will pay off any liens against the property not assumed by you, the seller will sign the deed transferring ownership, present you with the keys and just like that you are the proud homeowner of your new home!