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Buying Advice

Found 10 blog entries about Buying Advice.

When looking for the right space to call home, why limit yourself to townhouses and apartments? For the city-savvy homebuyer, Atlanta lofts for sale are an aesthetically pleasing alternative that stand out from the crowd.

What Makes A Loft?

Atlanta lofts for saleIn the heart of major urban cities, you will often find older industrial warehouse buildings—called lofts—that have been repurposed into living spaces for city-dwellers on the go. Lofts are typically characterized by their high ceilings, open floor-plans due to a lack of interior walls, exposed ductwork, and large windows facing major urban sprawls, making them a highly-customizable, chic space to live for artists, empty nesters, and those tied to the heart of the city.

But before you put a bid out on a loft,

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In Georgia, there’s no sweeter feeling than closing on a home. However, last minute twists seem to come out of nowhere where real estate is involved. From signing refusals, to changes of heart, shifty lenders, to structural anomalies - knowing what to be prepared for at the eleventh hour is crucial to keeping control of the situation.

This list is not meant to dissuade you from buying or selling your home, only to give you perspective on very real possibilities that can arise during closing. Here are the top 11 things that can go wrong at the eleventh hour, and how to avoid them:

1. Misprints

atlanta homes for saleMisprints and misspellings in the paperwork can take hours or days to correct. The devil is in the details. Go over all paperwork with clarity before the

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choosing a lender

When it comes time to selling or buying a home, hiring the right real estate agent makes your life so much easier throughout the process – but have you considered how much of a difference landing a good lender makes?

Here’s a common scenario: You’ve done the math, then to your surprise, closing costs equate to over a grand higher than the original estimate.

Why? Not all lenders are trustworthy.

It is an unfortunate fact that there are misleading lenders in the business who will sneak in extra fees during closing, because lenders are not obligated to Good Faith Estimates, or to find you the best suited loan for you. Many brokers look for mortgages that offer them the greatest profit, rather than a deal for their client.

Choosing a lender

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closing on a home

Where there is money involved, there is also stress.

Closing on a home can be one of the biggest investments in your life. Keeping your cool when closing on a home can be the difference between a smooth transition into your new home and a hair-pulling nightmare at every turn.

Besides getting advice from your mortgage broker and your real estate agent, here are a few home closing tips on how to stay prepared and take the stress out of this landmark life-event:

Budget Accordingly

When you are down to the wire, you do not want the closing to be riddled with extra hotel expenses, storing packed furniture, late rental truck fees, or other unfortunate delays.

Plan a budget that accounts for six months of bills and expenses. Whatever budget

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When it comes to owning a home, you should always expect the unexpected. Lightning, fallen branches, fires, costly repairs, busted pipes, and theft are things you do not typically think of when you purchase a new home, but these inconveniences occur nonetheless.

It makes sense to protect the biggest investment of your life. Homeowners insurance ensures the safety and financial stability of you and your family.

What does a homeowners insurance plan cover?

When you purchase or refinance a home, your lender will require that you have a homeowners insurance plan, as proof that their investment is secure. It is important to have the home inspected to make sure there are no problems that might be affected by insurance.

According to the Insurance

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With so many uncertainties in today’s economy, it is difficult to evaluate the options that might be worth investing your money in. Investments hold potential risk, yet the return could prove to be substantial. Putting your money into investment properties, for example, has a high risk of inflation, but if you’re lucky and the market is right, you stand to gain a great deal.

Taking the time to learn which properties are worth investing in and how to keep an eye on the local market near you can put more money in your pocket and help steer you towards financial independence. Check out our tips for buying an investment property below.

First: Are You Prepared to Invest Your Time and Money?

Owning and maintaining investment real estate might prove

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Perhaps you’re moving to a new home, you’re investing in property, or feel like you finally have to scratch that itch on the vacation home you’ve always wanted.  Though it is often more difficult to secure a mortgage when buying a second home – lenders just consider them to be a higher risk – finding and financing a second home doesn’t have to be a fiscal nightmare.

Here are a few simple tips on how to finance a second home more easily:

Keep Your Credit in Check

Make sure your credit score is between average or above-average. There are more programs available for first-time homebuyers than there are for those looking to move or buy a second home. Pay your credit cards and bills on time and keep your debt-to-income ratio in check for better

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Buying a home for the first time can be a daunting, yet rewarding experience. Fortunately, there are existing first-time home buyer programs that provide financial assistance for various needs and circumstances.

Whether you are looking for a loan, down payment assistance, or building from the ground up, there are many federal, state and local agencies that have programs in place that specifically help and are designed for first-time homebuyers.

Federal Programs for First-Time Homebuyers

FHA Loans

FHA loans are property loans insured by the Federal Housing Administration (as part of the U.S. Department of Housing and Urban Development – HUD), for low-income borrowers or those with credit scores as low as 580.

With FHA loans, a down payment

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credit scores explainedOwning a home can be a rewarding and exhilarating experience in anyone’s life. There is responsibility, security and comfort with having a place of your own.

Whether you’re a first time homeowner or looking to refinance or buy a new home, understanding credit scores is essential to your chances for success in the real estate market.

Mortgage brokers will look at those magic three digits that make up your credit score. A low score could lead to higher interest rates or even result in being disapproved entirely on property purchases.

Your three-digit FICO credit score is comprised of five parts:

  • Debts Owed
  • New Lines of Credit
  • Time Period of Credit History
  • Types of Credit in Use
  • Payment History

Below is a simple checklist for

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buying a homeIf you are thinking about buying a home or condo, you should naturally have a ton of questions for your real estate agent. In large real estate markets, agents can be a dime a dozen – so it’s important that buyers, especially if new, choose the right real estate agent. But how do you do it?

Asking potential agents questions before you make a purchase or even begin looking is a great start. Here are the top 5 questions (and answers!) we have received from buyers looking for their dream home in the Atlanta real estate market.

5. What geographic area do you handle?

Most real estate agents are licensed to operate anywhere in a specific state. Nevertheless, it is important to find an agent that specializes in the area in which you are looking to buy.

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