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Showing posts with label cobb county homes for sale. Show all posts
Showing posts with label cobb county homes for sale. Show all posts
Wednesday, June 1, 2011
Specials On New Homes For Sale In Marietta Georgia
Saturday, April 30, 2011
Georgia Homebuyer Grants Programs $100 Down Payment
Come to our workshop to learn about the home buyer grant programs available in Georgia.
We will explain the home buying process in detail and answer your questions.
A lender will explain the grants and what you need to do to qualify.
After the seminar is over we will do a caravan tour of foreclosure homes.
Refreshments will be provided. Free gifts to the 1st 50 people who RSVP.
Seating is limited, RSVP only.
Priscilla Hammond
678-757-5885
Hosted by AmericaHomeKey and Team Excel Maximum One Realty.
RESERVE YOUR SPOT NOW!
Saturday May 14, 2011.
Time 1PM-2PM
Maximum One Realty Greater Atlanta
5041 Dallas Highway
Suite 700
Powder Springs, GA 30127
Entrance is located at the back of the building.
We will explain the home buying process in detail and answer your questions.
A lender will explain the grants and what you need to do to qualify.
After the seminar is over we will do a caravan tour of foreclosure homes.
Refreshments will be provided. Free gifts to the 1st 50 people who RSVP.
Seating is limited, RSVP only.
Priscilla Hammond
678-757-5885
Hosted by AmericaHomeKey and Team Excel Maximum One Realty.
RESERVE YOUR SPOT NOW!
Saturday May 14, 2011.
Time 1PM-2PM
Maximum One Realty Greater Atlanta
5041 Dallas Highway
Suite 700
Powder Springs, GA 30127
Entrance is located at the back of the building.
Saturday, April 23, 2011
Thursday, April 21, 2011
What exactly is Earnest Money Deposit?
So you've made it to the point where you've found a home in Georgia that you want to put an offer on. Then your agent tells you to give 1% of the purchase price for an earnest money deposit. What is it and why do you have to pay it? Read on.....
Most offers to buy a house are accompanied by a personal/cashier's check. This check is generally referred to as the "earnest money deposit." The basic reason for the deposit is to convince the seller that the buyer "earnestly" intends to purchase the property. It is not required to purchase a home but most sellers won't seriously consider an offer without it.
The amount of the deposit varies from purchase to purchase, depending on a variety of factors. If a property generates a lot of interest, a buyer may make a larger deposit to convince the seller that their offer is stronger than the others. During hot markets, deposits are generally larger than during slow markets.
In normal times, buyers should hesitate before making a deposit that is larger than 2% of the purchase price. Underwriting guidelines require strict documentation of such deposits.
There are reasons to try and keep the deposit as small as possible, but not so small that the seller doesn't take it seriously. Once a buyer and seller agree to terms, the earnest money deposit is usually placed in a "trust" account. At that point it is no longer the buyer's money -- it belongs jointly to the buyer and seller.
Almost all deals close and the earnest money funds are applied to the buyer's down payment & closing costs. There are exceptions to that rule.
Some sellers think that if the deal falls through, the earnest money deposit is automatically forfeited. Some buyers think that if the deal doesn't close, they automatically get the money back.
Neither one is true.
Even when the failure to close is the buyer's fault, the seller doesn't have a right to the deposit as a way to punish the buyer. The buyer doesn't automatically get the entire deposit back, even when they are not at fault.
First, there may be a small amount of cancellation fees that must be paid. These fees are collected from the deposit. Second, since the deposit is held in trust, both the buyer and seller must agree on the disposition of the funds in writing and signed by all parties.
If something goes wrong very early in the deal, the seller normally understands and the deposit is usually refunded to the buyer without a fuss. When things go south later on in the transaction, both parties usually exercise common sense and negotiate a fair solution. It is uncommon that the buyer and seller don't agree.
The point is that is always makes sense to reach an agreement. Failure to agree ties the money up for awhile, which could possibly lead to further legal action and inconvenience, and it just becomes a frustrating mess for both sides -- more so than you realize at the time.
Serious problems are the exception, not the rule. Most challenges are routine to a qualified professional real estate agent. The situation may be new to you, but the agent may have dealt with it many times in the past.
Most offers to buy a house are accompanied by a personal/cashier's check. This check is generally referred to as the "earnest money deposit." The basic reason for the deposit is to convince the seller that the buyer "earnestly" intends to purchase the property. It is not required to purchase a home but most sellers won't seriously consider an offer without it.
The amount of the deposit varies from purchase to purchase, depending on a variety of factors. If a property generates a lot of interest, a buyer may make a larger deposit to convince the seller that their offer is stronger than the others. During hot markets, deposits are generally larger than during slow markets.
In normal times, buyers should hesitate before making a deposit that is larger than 2% of the purchase price. Underwriting guidelines require strict documentation of such deposits.
There are reasons to try and keep the deposit as small as possible, but not so small that the seller doesn't take it seriously. Once a buyer and seller agree to terms, the earnest money deposit is usually placed in a "trust" account. At that point it is no longer the buyer's money -- it belongs jointly to the buyer and seller.
Almost all deals close and the earnest money funds are applied to the buyer's down payment & closing costs. There are exceptions to that rule.
Some sellers think that if the deal falls through, the earnest money deposit is automatically forfeited. Some buyers think that if the deal doesn't close, they automatically get the money back.
Neither one is true.
Even when the failure to close is the buyer's fault, the seller doesn't have a right to the deposit as a way to punish the buyer. The buyer doesn't automatically get the entire deposit back, even when they are not at fault.
First, there may be a small amount of cancellation fees that must be paid. These fees are collected from the deposit. Second, since the deposit is held in trust, both the buyer and seller must agree on the disposition of the funds in writing and signed by all parties.
If something goes wrong very early in the deal, the seller normally understands and the deposit is usually refunded to the buyer without a fuss. When things go south later on in the transaction, both parties usually exercise common sense and negotiate a fair solution. It is uncommon that the buyer and seller don't agree.
The point is that is always makes sense to reach an agreement. Failure to agree ties the money up for awhile, which could possibly lead to further legal action and inconvenience, and it just becomes a frustrating mess for both sides -- more so than you realize at the time.
Serious problems are the exception, not the rule. Most challenges are routine to a qualified professional real estate agent. The situation may be new to you, but the agent may have dealt with it many times in the past.
Georgia Home Buyers Tips Blog: Are you thinking about buying a home in Cobb County Georgia?
I must say that it doesn't surprise me at all how much people believe the media because I used to until I started to research things on my own.
Over the last few months I've worked with a couple of investor home buyers who were attempting to buy a home.
They have the information they hear on tv and advice that people who are not real estate professionals give them (most often people who don't even own a home themselves) so much into their thought process that they can't see reality.
The news says it's a buyer's market which is somewhat true. That doesn't mean that you can find a great home at a good price and it's going to still be around after you've looked at 20 other homes.
Many times home buyers in the metro Atlanta Georgia area have told me they really liked a home but continued looking at other homes for sale in Cobb County Georgia and a few days or weeks later they think the original home that they really liked is still going to be available. I tell them it's pending sale and they can't believe it. Don't think you are the only one who liked it and have the ability to buy it.
Another misconception home buyers have about the current housing market in the metro Atlanta Georgia area is about the listing price vs. the value of the home vs. what you should offer. MOST of the homes that I've seen that are listed in GAMLS and FMLS are priced at or below current market value. So will your offer $50,000 below list price get accepted? Not likely.
I always send my clients a comparative market analysis (CMA) which will show the estimated value of the home, before I write up an offer. I'm not going to let my clients overpay for a home and neither will their lender, that's why they have an appraiser go out to appraise the home.
Stop listening to the media and your friends and family before they make you miss out on the perfect home! By the way, what real estate school did they get their license from?
You certainly have the right to purchase any home you want and I will give you all the showings you need until you're satisfied. But don't think I'm mis-informing you when I tell you that 1st home you really loved is already sold or the home that had no offers on it when I first showed it to you now has multiple offers and the listing agent is asking for your highest and best.
Over the last few months I've worked with a couple of investor home buyers who were attempting to buy a home.
They have the information they hear on tv and advice that people who are not real estate professionals give them (most often people who don't even own a home themselves) so much into their thought process that they can't see reality.
The news says it's a buyer's market which is somewhat true. That doesn't mean that you can find a great home at a good price and it's going to still be around after you've looked at 20 other homes.
Many times home buyers in the metro Atlanta Georgia area have told me they really liked a home but continued looking at other homes for sale in Cobb County Georgia and a few days or weeks later they think the original home that they really liked is still going to be available. I tell them it's pending sale and they can't believe it. Don't think you are the only one who liked it and have the ability to buy it.
Another misconception home buyers have about the current housing market in the metro Atlanta Georgia area is about the listing price vs. the value of the home vs. what you should offer. MOST of the homes that I've seen that are listed in GAMLS and FMLS are priced at or below current market value. So will your offer $50,000 below list price get accepted? Not likely.
I always send my clients a comparative market analysis (CMA) which will show the estimated value of the home, before I write up an offer. I'm not going to let my clients overpay for a home and neither will their lender, that's why they have an appraiser go out to appraise the home.
Stop listening to the media and your friends and family before they make you miss out on the perfect home! By the way, what real estate school did they get their license from?
You certainly have the right to purchase any home you want and I will give you all the showings you need until you're satisfied. But don't think I'm mis-informing you when I tell you that 1st home you really loved is already sold or the home that had no offers on it when I first showed it to you now has multiple offers and the listing agent is asking for your highest and best.
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