Buying a Kingsland, GA home may seem overwhelming, but it really isn't. The process will vary slightly from transaction to transaction, but this will be very helpful for you in gainging a basic understanding of the process. When Looking to buy a Kingsland, GA Home:1. Get an Experienced Realtor - You do not pay for a Buyers Realtor, so there is absolutely no reason to do this on your own. Ask for Buyers Representation, and have me work for you at no cost. Commissions are paid for by the seller for EVERY Actively listed property and by Builders for new construction. If you call the name on the Sign, that person will gladly write contracts for you, but they cannot represent you and they then just get paid the full commission. It is important to find the right expertise along with the right personality. Many people who transition to the area do not know anyone else. Finding your first friend in your Realtor is important. I am a people person, and I enjoy helping people through the process. By the time we Write contracts, I already know the group of people I will be introducing you to so that you don't start your move alone. 2. Get Pre-Approved (or at least Pre-Qualified) - Russell Myers, 912-227-2277, ERA Mortgage Specialist. This is necessary to ensure a smooth home buying purchase. Doing this step after you find and fall in love with your next home is the biggest factor in creating a stressful home buying experience. 3. Find Your Kingsland Georgia Deam Home - The fun part! - Search the multiple listing service (MLS) on this site and find the homes you want to see. You can do this at
your leisure as you build your list of a period of days. - Meet at the office and go through the MLS to screen homes. I will then schedule the homes for us to view. - You can call or email me details on the homes you want to see. I will search through the MLS with my search
engine filtering out undesireable homes and send you lists with the possibilities for you to do the final cut,
followed by scheduling for us to view. Doing a needs vs. wants analysis can help narrow the field and get you the right home. 4. Contratcs - I will type the "Purchase and Sale Agreement" that spells out the terms of your offer. The most important point in this step is to negotiate properly. Even in today's market, Kings Bay has a strong market, don't go into this phase thinking you will pick up your dream home for a foreclosure price unless that is the market we are looking at. Tell me up front if that is what you want, it normally takes a little more time, more money up front to purchase, and more money to fix up. It will normally take longer to close, and depending on condition may only finance by Conventional means. You can pick up some good deals but know this up front. That said, we are in a buyers market, so most sellers are negotiable. Finally, once the offer is fully negotiated between buyer and seller then you have a "binding contract". 5. Provide Binding Contract to Your Mortgage Representative - A binding contract is a contract in which both parties have signed the contract. In essence you have an agreement to buy the property at a price and terms that are also acceptable to the seller. You will need to provide a copy of this contract to your mortgage representative for them to fully process your loan. This is true even if you are pre-approved for a loan. 6. Get a Home Inspection - This is not a legal requirement, but it is prudent. Home inspections typically cost a buyer from $200-$300 but are worth the extra money. A home inspector will go through the house and inspect major systems and structure. Usually climbing through the attic, conducting cursory inspection of the slab, running the heat and air conditioning, checking hot water temperature, etc. There are no guarantees a home inspector will find everything wrong with a home, but they will usually find any major items of concern. In the event they find a major problem you can either terminate the contract (under specific contract clauses and circumstances) or you can negotiate repairs by the seller. If all they find is a list of small items you can also negotiate seller repairs, but more importantly you can feel pretty good about the home you are buying. 7. Get a Termite Inspection - This inspection is done by a qualified exterminator. Their job is to inspect the property for wood destroying pests. The most common wood destroying pest is termites. In the event the home has termites, discuss the extent of investation and/or damage thoroughly with your agent. It is not necessary to panic if the home has, or has had termites. The more imporant topics are the extent of damage (if any; often there is minimal damage), who will pay for the treatment, and who will pay for any repairs. 8. Review Preliminary HUD 1 - Before the actual closing you should see a preliminary HUD-1; the preliminary HUD-1 will be available about one working day prior to closing. The HUD-1 is a required document that breaks-down all the cost for both the buyer and the seller. All costs will be disclosed on this document. The preliminary HUD simply allows the agents and the buyer/seller to review their cost or proceeds to ensure they match the contract. In adjustments can be taken care of prior to the closing. 9. Conduct Final Walk Through - This is generally done immediately before the final closing. For example: If your closing is taking place at 11:00 a.m. you will conduct your final walk-through around 9:00 - 10:00. The purpose of the final walk-through is to ensure the home has been completely emptied, left in a clean manner, and all the requested repairs (from step 6) have been completed. 10. Go To Closing - At the closing table you will see all of your required mortgage documents. Be prepared to sign a lot of different documents. It will typically go by in a blur if this is your first home. The attorney generally has no input on what the documents state. The attorney's office is presenting you with documents required by your mortgage company. Once you sign all the documents and the seller signs their documents, the keys will be turned over to you and you are the proud owner of your new home. |