Zac Pasmanick - The Zac Team

Blog

Displaying blog entries 1-3 of 3

4 Tips for First Time Homebuyers to Follow During a Professional Home Inspection

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

With factors such as the now expired first time home buyers tax credit and historically low mortgage rates, many Americans are being drawn to the housing market and deciding to purchase for the first time. According to the National Association of Realtors (NAR), almost half (47%) of the homes purchased last year were purchased by first time buyers.

Of course buying a home for the first time can be both exciting and scary. Therefore first time purchasers should do as much research as possible before making that major decision. In addition, one major action that proves to be extremely educational for first time buyers is a professional home inspection. Home inspections provide the potential owner with information regarding the home's systems and can also be used as a tool in negotiating the home's price. Here's a list of things for those who are purchasing for the first time to be aware of during a professional home inspection.

Inspect the Inspector

Make sure you do your homework when searching for a home inspector. You would need to look for someone who possesses accreditation and a superb reputation. Make sure to ask questions such as: How long has the company been in business? It is also a good idea to find out about the inspectors formal training and continued education. You should also verify that the inspector possesses personal liability insurance or "Errors and Omissions" (E&O).

Ask for a sample of the report

You should want to see a sample of the report to verify that the quality is both professional and concise. A good quality report will consist of pictures and details regarding the home's systems and accessible elements. A poorly prepared report will not be taken seriously by the home seller.

Inspect ancillary systems

Because many first time buyers are not fully aware of what inspections are needed, many companies will offer you additional services at a discounted rate. For example, if you're looking to purchase a home with a septic system, a professional company may be able to offer septic system inspections. Termite inspections, mold screening, and water/radon testing are other common inspections offered by professional companies.

Go along on the inspections

Find out if the company will allow you to tag along for the inspection. If a company doesn't agree to this, find another one. Home inspectors can also show the home buyer how to operate different systems of the home and can also provide valuable tips on how to save energy and etc.

Fearful of Purchasing a Home? Take A Look at Some Common Questions/Fears of Consumers

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

Thinking about buying a home, have a few fears? Well you're not the only one, buying a home can be a little scary. Take a look at some common questions many have when deciding whether to purchase a home.

Do I have enough money to purchase?

One of the best ways to finding out the answer to this is to get pre-qualified for a mortgage. You will need to really examine your finances. Normally you should be able to afford at least 20% of the purchase price for a down payment. In addition, you should possess less than a 36 percent debt to income ratio. You will also need to be able to afford all closing cost after making a down payment.

Will I have buyer's Remorse

If you're a first time buyer you probably have in mind your dream home or whether you're a repeat buyer, however like the old saying goes "you have to crawl before you walk". It's ok if your home doesn't have exactly every single thing you desire. Remember, you're building equity. One day you will get that dream home!

Will I be able to Handle Repairs?

It's ok if you're not Mr. or Mrs. Fix it. You may want to consider taking some classes at your local Lowes, Home Depot, or other home improvement store. You may also want to invest in a handyman's guide from your local book store. Just keep in mind, there will be some type of repairs needed even in a new home at some point.

What If I need to Move?

Because most home owners want to build equity, you may not make any money on your sale if moving before 3 years of owning your home. Typically equity doesn't start to build until after owning for at least 3 to 5 years. You could also possibly lose money in closing costs.

Buying Your First Home? Take Time and Cover All the Bases

by the zac team @ RE/MAX Greater Atlanta

Greetings Neighbors,

Are you in the market to buy a new home? As everyone knows, the economy is not in the best of shape these days and many people don't have the extra money they used to have. However, for those who do, making large purchases such as a home is not a bad idea right now. With many homes facing foreclosure or short sales, first time home buyers can really "luck up" on a good deal.

Because buying a home can be a pretty scary ordeal, first time buyers need to take the time to do the necessary research to make sure they are making the right decision. Here are a few things to remember when looking for that 1st home:

Inspect- It's vital for buyers to play inspector gadget when viewing the inspection report. Especially first time buyers will need to make sure the home's inspection report was done professionally. For those looking to buy a condo, you would need to view the CC&R's, By-Laws, and Association Fees.

Imagination- I know you may be wondering how imagination is important, well I will tell you. Remember while viewing a fully furnished house everything will most likely look beautiful and wonderful. However, all of the furniture you are viewing at the time will likely go with the previous owners/sellers of the property. It's important to imagine your own furnishings in the home, don't be swayed by others property.

Income, You lifestyle, Mortgage Payment, etc - It’s also very important for buyers to sit down with their agent for a heart to heart talk discussing their income as well as their lifestyle. You will also need to do some strategic planning (future planning) taking into consideration children in the future, up grades to the home, add-ons, etc. You need to know if this home will not only work for now but for later as well.

View Several Homes- It is suggested that buyers view between 7-10 properties before making a decision. Your agent should allow you to view enough property for you to get the feel of the market. Never make a hasty decision based on the first property or two you see.

Use Your Team - It's important for you, the buyer to find the right real estate agent and team. You need to make good use of your lender, title representative, and agent. They are working to make your home buying experience a positive one.

Verification- Make sure you verify the cost and expenses such as: utilities, taxes, insurance, maintenance, and homeowners dues if required before signing the dotted line. During your final walk through make sure all utilities are working so you can property inspect them.

Final Walk Through- Make sure you visit the home vacant. Some things that may have been overlooked while still fully furnished should be easier to notice now that everything has been removed from the home.

Be Flexible - Remember, when approaching the closing date of your home you have to comprehend the meaning of flexibility. Because closing dates can fluctuate you should have a back up plan. Remember more time may be needed so try not to get to frustrated. Remember in the end it will be well worth it.

It Doesn't Mean Anything Until It's In Writing - Remember, anything promised or discussed during negotiations should be in writing. Someone may say one thing but then change their mind however, if you the buyer, have it in writing then it stands. You should request for your real estate team to keep a log.

Loyalty Goes A Long Way - Remember, honest and loyalty goes a long way in most day to day situations. Being untruthful can make room for delays and can even ruin the deal all together.  Make sure you choose the right real estate team that you feel comfortable with and that will treat you the way you need to be treated while during the process of purchasing your home.

In the market to buy a new home? Check out metro Atlanta's newest, most easy to use website to search for homes! www.BestMetroAtlantaHomeSearch.com!

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives

Contact Information

Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
1189 S. Ponce de Leon Avenue
Atlanta GA 30306
Office: 404-564-7272

 

Friend, fan, or follow!
Become a friend of Zac's on facebook!  Connect with Zac on Linked In!Follow Zac on twitter! Connect with Zac on Plaxo!

Zac Pasmanick on Zillow
• Sign up for your personalized email home search: www.BestMetroAtlantaHomeSearch.com
• Why list with Zac? www.GotZac.com