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Thinking about relocating to Atlanta? The process of purchasing a home, let alone a home specifically in Atlanta, can be quite easy, or it can be overwhelming, depending on your preparation and the information you're able to obtain. One of your new home purchase decisions is the type of builder who will best fit your needs. Your conditions can include everything from location, price, community standards, and workmanship to post-closing issues such as builder warranties.
The following are overviews of 10 topics to consider while purchasing a new home in Atlanta. This information should enable you to ask the right questions and get you one step closer to purchasing your new home with confidence and ease.
1. Different Builder Types
Production Builders - These builders generally have a number of plans per community and with different elevations. With this type of construction, many homes are usually being built at the same time, allowing for standing inventory and quicker closings.
Custom Builders - These builders generally build to customer specifications. This type of construction usually does not start until a contract is written and accepted.
Most national builders are a combination of both types. When visiting a home site, you might see standing inventory, homes under construction, and parcels of land cleared for future home sites. During any of these phases, a contract can be written and specifications requested within the framework of a specific builder. Building a home can take anywhere from 3 to 9 months or beyond in some cases.
2. Registration Process
In most cases, when you enter the sales office on site, you will be asked to fill out some type of registration card. This is merely for contact information. It allows the agents in the office to manage your service experience since most of them work on commission. This helps to eliminate any confusion in the communication process.
During the registration process, it's important to inform the on-site agent whether you're working with a real estate agent. If you use the services of Greentree Realty, you'll receive 1.5% off your new home purchase price. Whether you purchase directly from the builder or through Greentree Realty, the purchase price and builder incentives remain the same. The only difference is that, with Greentree Realty representing you at closing, you'll receive 1.5% of your purchase price at closing.
3. On-site Agent
THEY WORK FOR THE SELLER! THEY WORK FOR THE SELLER! Many people who buy new homes in Atlanta believe that the on-site agent works for them. When it comes down to it, the on-site agent is working for the builder. The more information you have and the more questions you are able to ask will play a determining role in your experience.
4. Availability of Options
Options should be considered in two ways:
Structural - Structural options include additions and deletions involving rooms, walls, windows, layouts, and so on.
Interior/Exterior - The offered options could include flooring, cabinets, countertops, landscaping, fences, color schemes, etc.
So, the next time you walk into a sales office and are shown a nicely decorated model home, make sure to ask what the standard features are and what is considered an upgrade. During the process, the true base price of the home will be revealed to you!
*Many of the available options depend on the stage of construction of the home. Always ask and confirm what is and is not available to you while previewing homes with the on-site agent.
5. Availability of Incentives
Builders will often provide incentives to purchasers to buy through the builder's lending tree. These incentives can include payment of or portion of closing costs, design center allowances, appliances, or payment of HOA initiation fees. Example: ABC Building Company is offering 3K in closing costs to customers who obtain a loan through ABC Mortgage.
Before searching for a new home, it's a good idea to be pre-approved or pre-qualified. What's the difference?
Pre-qualification letter - based on verbal and preliminary checks that help to determine the purchasing power of the buyer.
Pre-approval letter - based on extensive verbal and factual confirmations regarding the purchasing power of the buyer. The lender is actually committing its resources to your deal.
Why have an approval letter? - This will help to narrow your search and at times can even be used as leverage in your decision of what lender to use.
If you find the house of your dreams while you're out, the process can be started with the builder's lending arm. This might involve a short waiting period before a contract can be signed and ratified.
6. Builder Contracts
Contracts provided by most builders are generally standard documents. As with any contract, it is important to carefully read and/or seek counsel if you feel it is necessary. Understand your rights and restrictions.
7. Home Owner Associations
Many communities in Atlanta have Home Owner Associations (HOA). HOAs help to maintain the look and feel of the neighborhood and support the services offered, which are structured on a per community basis. At some point during the buying process a copy of the HOA bylaws can be made available to you.
8. Closing on your home
The lawyers involved are typically affiliated with a particular builder, so the on-site agent who has been facilitating your contract will not be present at closing. Closings usually go smoothly because many issues that arise during traditional real estate transactions are not a factor in transactions involving a new home. That's not to say that things will not come up, but if you have done your part as the purchaser, the path is pretty smooth.
9. Warranty
The warranties provided by builders cover post-closing items that may or may not occur during the covered lifetime of your home. Most builders extend a 2/10-year warranty. The process, items covered, and duration will differ from builder to builder.
10. How does our program benefit you?
To help answer the question, we've listed the top responses from customers about our program!!
The question we asked:
Based on your experience with our program, what would you tell customers they are able to get using Greentree Realty's New Home Purchase Program?
200K 300K 500K 1 million
Cash Back Cash Back Cash Back Cash Back
$3,000 $4,500 $7,500 $15,000
1. You receive 1.5% cash back in your pocket off the base purchase price!!!
2. You can use the 1.5% to help with the first few months of mortgage payments.
3. You can use the 1.5% to help pay for furniture or furniture treatments.
4. You can use the 1.5% to help build a fence.
5. You can use the 1.5% to help buy that new plasma you've always wanted.
6. You can use the 1.5% for garage door openers.
7. You can use the 1.5% for the paint job of your dreams.
8. You can use the 1.5% for a pool table for the game room.
9. You can use the 1.5% for flowers/plants for your new landscape.
10. You can put the 1.5% toward that vacation you've been planning.
11. You can use the 1.5% to help with or even pay for your moving expenses.
12. You can use the 1.5% for the new mower for the new lawn.
13. You can use the 1.5% for that grill and smoker you've always wanted.
14. You can use the 1.5% to pay an entire year of HOA dues.
15. You can use the 1.5% to help pay for a deck that reflects your needs.
16. You can use the 1.5% to help purchase a new home theater system.
If you have any questions about the home buying process, send an e-mail to info@greentreerealtyonline.com or give us a call at 770-755-1805.
Greentree Realty, Inc.
Reynold Massenat (Broker)
36 Highway 138 2nd Fl. Suite D
May?s Corner Shopping Center
Stockbridge, GA 30281
Phone 770.755.1805
Fax: 770.755.1809
reynold@greentreerealtyonline.com
http://www.greentreerealtyonline.com
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