Buying Your Home

Market knowledge, combined with direct on-line access to all listings in the real estate market enables me to create short lists of homes that directly fit your requirements. This permits you, at your leisure, to review this list and then allow me to arrange viewing appointments for just those properties of particular interest.

On a daily basis, I will continue to search the market for homes that become available. Using the Multiple Listing Service (MLS) system, I can access any home listed with any company, in addition to those offered for sale by the Prudential North Georgia Realty Team.

As an enhanced service, I will keep you on top of the market by daily emailing listings of homes entering the market meeting your requirements. You’ll benefit by being kept current of new listings, and price changes.

I am committed to the highest level of service as we search for your "new" home. 

I will be there every step of the way. Every home purchase is a major, involved decision and a tremendous step. It is vital that you be well advised and kept informed so that you can make the best choices.  I will be there to answer your questions, advise you, and make the process comfortable and smooth.

Major Elements of an Offer

Price- the offering price will depend on market conditions, your own opinion of its value, and market information provided by Brent. The offering price may be different from the seller's asking price.

Deposit / Earnest Money - the deposit or earnest money, as it is often referred to, shows good faith and that you are serious about buying the home. It is held in trust and applied against the selling price on closing. It forms part of your total down payment. The actual amount of the deposit will vary according to the asking price of the house. Brent will advise you on how much is an appropriate deposit.

Conditions- there are a wide variety of conditions that you can place in your offer. It is extremely common to make your offer conditional on home inspection by a certified home inspector and conditional on bank financing. If you own another property, your offer may also be subject to you being able to sell that property.

Land Survey - a property survey is a detailed measured drawing of the location of all property lines, pins, and, many times, of all the buildings / additions / fences / decks / improvements that lie therein.

Completion Date / Closing Date / Possession Date - these three names are all the same. It is usually (but not always) the date people move into their "new" home as well. It is the date that title to the property & keys are handed over to you, the Purchaser, in exchange for funds. The transaction is finalized with the services of an attorney.

Other Clauses - each offer is very different and is custom tailored to suit a client’s needs and the specifics of the property. Brent will assist you with clauses unique to your situation.

Making an Offer

1. I will gather and provide background information on the area, market conditions, etc. to help you make an informed buying decision.
2. I will draw up your offer and go over every detail with you. The offer is known as the Purchase & Sale Agreement and incorporates the major elements noted above.
3. I will communicate and present the “offer” to the listing agent or seller for their property. (Special Note: Sometimes there is more than one offer from different purchasers at the same time. I will go over this situation and process with you).
4. The seller may accept, reject, or counter the offer. A counter-offer from the seller may be in reference to price, closing date, or other variables.
5. The offer may go back and forth. You as a Purchaser have the same three choices: to accept the counteroffer, to reject it, or to countersign it back to the Seller again.
6. After there has been a "meeting of the minds" and the price and terms have been negotiated and agreed upon, the next step is to set up any home inspections and arrange for appraisal, and a loan committment from the lending institution.
7. I will monitor the contract, making sure the buyer’s and seller’s contractual obligations are being met.

Common Mistakes to Avoid

Looking for a house without getting pre-approved by a lender- When you are pre-approved, you are effectively a cash buyer. This makes it much easier to negotiate with the seller. Do not mistake pre-approval with pre-qualification; pre-qualification is only the first step in gaining pre-approval. Ask your banker or realtor for details.

Failing to check out the neighborhood thoroughly before buying - How do traffic patterns change depending on the day, or even the time of day? Are there any future developments in the works? Is that nice greenspace down the road actually zoned for commercial development? Ask around - check it out first.

Making an offer based upon the asking price, not the actual market value - Do your homework. What have similar properties sold for in the immediate area? How long were they on the market? How does this one compare? Is it over-priced, under-priced, or fair value? Ask Brent for an up-to-date market summary.

Letting "first impressions" affect your decision too much- There are entire books written on how the first impression of a home is the single most decisive factor affecting many purchasers' decision to buy. Don't let bad decor or messy housekeeping scare you away from a structurally solid home that meets your needs. Remember that you are buying the house, not the furnishings.

Buying a house without a professional home inspection - When buying a house, consider getting a professional property inspection. Not only will you know what you are buying, but these reports will protect you from unforeseen nasty surprises in both the short and long run.

Assuming that the Bank's quoted mortgage rates are written in stone- Like many industries, banks are experiencing increased competition and are often willing to negotiate mortgage rates. Depending upon the market and profit spreads, it is sometimes possible to negotiate substantial savings.

Not shopping for home insurance until you are ready to move - If you wait until the last minute, you will be rushed in finding insurance. Allow time to shop around and get the best deal.

Signing documents without reading them - Do not wait until the last minute before reading the documents; there probably will not be time. Try to get copies of all documents early on in your home search so that you can peruse them at your leisure.

Making verbal agreements - Not only are they harder to enforce, but any written contract you sign will override a verbal agreement. Contract law says that verbal agreements are not enforceable when they deal with Real Property. Always get it in writing!

Not knowing your rights and obligations - If you do not know your rights, then you can be taken advantage of. If you do not know your obligations, you may inadvertently cause friction between yourself and those with whom you are about to enter a contract. Both your realtor and lawyer are great sources of information concerning this - make use of their expertise and resources.