Woodstock GA Real Estate Happenings…

August 23, 2008

Become a Homeowner! | Start Here for Great Tips – From Financing to Closing!

Below is a list of necessary steps that will prepare you to begin your home search! My goal is to make sure that your home purchase is a pleasant experience and that you don’t encounter any negative surprises.

  • YOUR PRICE RANGE: Consult a lender (or a few) to determine how much home you can afford. You will want to base this in part on your desired monthly payment. Your lender of choice will be able to tell you your pre-approval amount as well as the price range that will keep you within your limits for your desired monthly payment.
  • Be sure to factor in costs associated with homeownership such as annual property taxes, annual homeowners insurance, homeowners association fees (if applicable), maintenance & upkeep, etc.
  • LOAN PRE-APPROVAL: Your lender will give you a list of items necessary to process your loan such as w2’s, bank statements, paycheck stubs, etc. Gather, organize and deliver this information to your lender upon request to insure that you are truly pre-approved. You will need a pre-approval letter upon submitting an offer to purchase your new home.
  • Research (ask your lender) to determine if you qualify for any special mortgage or down payment-assistance programs.
  • Remember, you will need to save funds for:

    • Home Inspection ($350 to $475 depending on size, age & location of home)

    • Termite Inspection ($45-$175 depending on the company) as the lender will require a “clean wood infestation report” prior to closing

    • Homeowners Insurance Policy (varies based on insurance company, size, location and other factors)

    • Appraisal ($300 to $425): the lender will use an appraiser from their “approved list”, but typically the buyer will pay for this up front.

    • Down Payment (your lender will let you know how much you will need, if any)

    • Closing Costs (includes taxes, attorney’s fees, lender fees (typically 2 to 4% of the sales price) are determined by your lender. We can try to negotiate with the Seller to pay closing costs (or a portion) depending on yours and the Homeowner’s needs.

  • YOUR NEW HOME: Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.

  • LOCATION: Select several communities or an area that will offer you what you want with regard to amenities, schools, location, highway/interstate access, safety, etc.

  • Find an experienced REALTOR® who can guide and advise you through the process! He/She will help you locate, negotiate, process all documents, stay in touch with your lender and keep you on track for a smooth transition. (and more!)

If you feel that you could have some credit issues, go ahead and obtain a copy of your credit report and clear up any unresolved issues if possible. Your lender can tell you the issues that are of most importance and will help you determine what needs to be done so you can be approved for a loan!

For additional information or to search all homes listed on GA MLS and FMLS visit www.bestgahomes4sale.com. Or you can contact me directly ~ I’m always glad to help!

Be sure to check out my blog:
Thinking of Purchasing a Home? | 8 Credit Tips

Kind Regards,
Michelle Miller
REALTOR®

RE/MAX Town & Country of Woodstock, GA

Direct: 404.538.5396
Email: michellemiller1@remax.net
Web: www.bestgahomes4sale.com

Real Estate Agent in Woodstock, Cherokee County, Georgia

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