Why you need a buyer’s agent – Douglasville Real Estate
What is a buyer’s agent Well a buyer’s agent represents you, the buyer, in a real estate transaction for Georgia. The seller already has their agent, you know, the one that has the sign in the yard. When you have your own agent, he or she will be able to work on you behalf to try to get you the best deal. Here are some of the other things that your buyer’s agent will do for you. As your Buyer’s Agent we will represent you. We are your advocate! The seller is represented by the listing agent. As your Buyer’s Agent we will help you narrow down the houses that best fit you needs and wants. We will setup a continuous Gateway email from First Multiple Listing Service (FMLS) or Georgia MLS (Gamls) for the purchasing period. It will email you houses in your price range and ones that meet your criteria. As your Buyer’s Agent we will explain the difference between Sales Price and List Price. As your Buyer’s Agent we will look out for your best interests. If there are things that seem to be a challenge in a house that we are looking at we will let you know immediately. As your Buyer’s Agent we will help you understand the Purchase and Sale Agreement. As your Buyer’s Agent we will write a great Purchase and Sale Agreement for you. We will come armed with all kinds of information on the house and its neighborhood. As your Buyer’s Agent we will assist you in getting pre-approved with a lender. Within our Family of Services we have a relationship with a local lender. As your Buyer’s Agent we will assist you in locating a Home Inspector. One who we have used many times before and trust. He is not afraid to tell us if there are challenges with the home you are interested in buying. As your Buyer’s Agent we will explain a home survey, termite letter, termite bond, and title insurance. As your Buyer’s Agent we will setup the closing and make sure that all the documents are in place. Chip Hurst is a local real estate agent in the West Atlanta Area. Maximum One Realty of Greater Atlanta is unlike most real estate companies that force you to do things one way or their way, we believe you should have choices to pick and choose what best fits your individual needs. We are always looking for new ways to make and West Atlanta real estate more efficient AND without sacrificing quality or service. If you’re looking to buy a home in West Atlanta or sell your existing West Atlanta property, we will be happy to take care of your real estate needs. Our mission is to provide outstanding customer service while utilizing the best practices and systems available. For more information about List! Buy! Save! real estate services and how we can best serve you, please fill out the online contact form or give us call today! Chip Hurst Maximum One Realty Greater Atlanta 770.294.9976 Mobile Hurstch@bellsouth.net www.WestAtlantaRealEstate.com
The Georgia Dream Home Loan Program
Georgia Dream Home Loan Financing your first home can be challenging. If you have the ability to put down3.5% down payment? One option would be to check into the Georgia Dream down payment assistance program offered by the Department of Community Affairs a minimum of 3.5% and can qualify for an FHA mortgage then you are on your way to buying your next house! So what are your options if you can not put down the 3.5%. The Georgia Dream makes it possible to own your own home with affordable first time mortgages, financing and down payment assistance for qualified buyers. AFFORDABLE FIRST MORTGAGE LOANS It is so easy to qualify! Georgia Dream Loans are available to: • first-time home buyers • those who have not owned a home in the past three years • those who purchase a home in targeted areas WHO ALSO: • have household incomes below the maximum • have liquid assets no more than $20,000 or 20% of the sales price (whichever is greater) • meet mortgage loan credit requirements The loans are 30 year, fixed interest rate mortgages. Local lenders give credit approval for FHA, USDA-RD, VA or conventional uninsured mortgage loans. Georgia Dream Homeownership Qualifications Maximum Household Income Home Sales Price Within the Atlanta Metropolitan Statistical Area If you purchase a home in Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Newton, Paulding, Pickens, Pike, Rockdale, Spalding or Walton Counties, your total household income (based on the number of people living in the home) can be no more than: • One to two persons $69,000 • Three or more persons $79,500 The sales price of the home cannot exceed $250,000 Outside the Atlanta Metropolitan Statistical Area If you purchase a home in a county not listed in the Atlanta MSA above, your total household income (based on the number of people living in the home) can be no more than: • One to two persons $59,500 • Three or more persons $68,500 The sales price of the home cannot exceed $200,000 The greatest hurdle for many prospective home buyers is the down payment. Borrowers who qualify for Georgia Dream First Mortgage Loans also qualify for down payment assistance. The borrower must… • use the loan in conjunction with a Georgia Dream First Mortgage Loan • complete individual credit counseling as per the guidelines on page 5 of this brochure and provide a certificate of completion • contribute a minimum of $1,000 to the purchase transaction Down Payment Loan Options STANDARD All eligible first time home buyers qualify for $5,000 PEN Eligible first time home buyers who are employed in qualified public protection, military, health care or education qualify for $7,500 CHOICE Eligible home buyers whose household includes an individual living with a disability qualify for $7,500 CO-OP Eligible home buyers who are employed by local governments in participating Co-Op communities qualify for $7,500 Contact – Brand Mortgage is West Atlanta Real Estate’s Participating Lender – 770-402-5600 Contact a Georgia Dream Participating Lender for pre-qualification and to begin the mortgage loan process. Complete Credit Counseling Complete Complete individual credit counseling to learn more about buying a home and to make sure the home you choose is within your budget. TARGETED AREAS The Georgia Dream Homeownership Program is available to eligible first time home buyers in all Georgia counties. However, if you purchase a home in oneof the targeted areas shaded in green below, or in a targeted census tract in one of the counties listed below the map, the first time home buyer rule does not apply. Check with your lender for program guidelines.Home Buyer Education Home Buyer Counseling is required for ALL GEORGIA DREAM LOANS. Borrowers with low middle credit scores of 620-639 must complete individual credit counseling or attend a home buyer workshop provided by a DCA or HUD approved agency. DCA funded agencies are listed below. A list of HUD approved agencies is available at www.hud.gov/georgia. Borrowers with low middle credit scores of 640 or higher may choose to complete individual credit counseling, attend a home buyer education workshop or complete home buyer education online at www.ehomeamerica.org/dca. What is the Georgia Dream Program? Who qualifies for a Georgia Dream Loan?
How much should I bid on a HUD Home
As the first quarter of 2103 comes to a close, I will show you some real stats on what HUD and other similar homes are selling for on the market. Many bidders beleive they can come in a swoop up one of these at a huge discount. A couple of years back that may have been the case. We were seeing some nice discounts given expecially for homes that sat on the market for a while. Times have changed in the last year with the shortage of housing inventory. So what should you bid on a one of these types of homes? Sure they offer a lot of incentives to purchase but what I am seeing out there now is that these homes are going over bid price and sometimes a lot more over. Below you will find listing data pulled from the local Georgia MLS of government owned homes from first quarter 2013. You can see that most of the homes sold at list price or above. Keep this in mind when preparing your bid. 1. Don’t get emotional and just bid to bid, really want that home. 2. Discuss if you are willing to go over the list price with your realtor. 3. Check with your lender to make sure you qualify for the amount of the purchase before bidding. 4. Check with your lender on how much closing costs will be covered and if you will have to make up any difference. The spreadsheet below shows actual sold properties and their list and their sold price. Compare if they sale over list or below. Hi, I work with buyers and sellers in the West Atlanta area. I can show and place your bid on any HUD property listed at Hudhomestore.com. You can reach me at 770-294-9976 or Hurst.chip@gmail.com I look forward to helping you. Chip Hurst Maximum One Realty 770-294-9976
USDA Home Loans in West Atlanta and West Georgia
Are you in the market for a new home in the West Atlanta Area? Many people of familiar with the FHA loan that requires a minimum of 3.5% down but did you know what your loan options are? Depending on the location of the home you find and want to purchase, you may want to check out the USDA Home Loan program.Why USDA? Yes, the same folks that stamp your meat at the grocery store has a divison that loans funds for rural development such as home purchases to name one. The catch is that is the home must be in the specified area to be eligible and there are income limits that you can’t go over.So what are the benefits to the USDA home loan program? Here it is in a nutshell. You can go through a traditionl lender that participates with the USDA home loan program. No Down Payment required, so 100% financing. The is a Guarantee fee that can be put into the loan. It is a 30 year loan product with competitive interest rates. The typical ratios are 29% for home loan and 41% for overall debts. Typical closing costs can be rolled into the loan if borrower likes. Borrower to apply with participating lender of their choice. Loan program is not just for first time buyers. Have a property to verify USDA Eligiblilty click below Click here for the USDA Web Site Property Verification USDA Eligiblity Map