Jean Pugh and Gina Rudisill's Atlanta Home Team real estate agency with realtors servicing North Fulton County Real Estate, Roswell Real Estate, Gwinnett County Real Estate.

Buyer and Seller Frequently Asked Questions

Buyers

1. Do I need an agent to buy a home?
    

2. What is a "Buyer's Agent" and how does the   agent get paid?
    

3. What is a "Buyer's Brokerage Agreement"?
    

4. Can a "Buyer's Agent" show me both new homes and resales?
    

5. How do I get started?
    

6. What happens when I find a home I want
   to buy?
    

7. What happens after the contract is accepted?
    

8. What happens at closing?

Sellers

1. How do I know what my home is worth?
    

2. What questions should I ask a listing agent?
    

3. What should I do to get my home ready
   to sell?
    

4. What are closing costs and who pays them?

5. Should I have an independent appraisal done before listing my home?
    

6. What inspections do I need to have completed when listing my home?
    

7. How can I improve the value of my home?
    

8. What is a listing agreement?

1. Do I need an agent to buy a home?

Legally no, but buying and selling real estate is a complex matter. When you hire the Atlanta Home Team we will provide you with information detailing current market conditions, financing options & negotiating issues that might apply to a given situation.

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2. What is a "Buyer's Agent" and how does the agent get paid?

In the state of Georgia, to be represented by a "Buyer's Agent" you must sign a "Buyer's Brokerage Agreement" (we will be glad to email or fax a copy of the agreement to you). The seller pays the agent's commission. Typically, the listing agent has negotiated the full commission with the seller and then splits the commission with the buyer's agent.

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3. What is a "Buyer's Brokerage Agreement"?

It is the contract between you the buyer and the brokerage firm (agent) you select for representation. The agreement spells out the brokerage's (agent's) duties to the buyer and the buyer's duties to the brokerage (agent).

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4. Can a "Buyer's Agent" show me both new homes and resales?

Yes, since the Atlanta Home Team belongs to both of Atlanta's multiple listing services we can show you any home, new or resale.

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5. How do I get started?

Begin with the following:

• Choose your agent
   

• Contact a recommended loan officer for pre-qualification and various loan options
   

• Select your price range after speaking with your loan officer
   

• Choose an area where you want to live
   

• Decide on the features, i.e. the number of bedrooms and baths, basement, age, etc.

Based on your information the Atlanta Home Team will begin by emailing listings to you that meet your criteria.  We will work with you to decide which homes you would like to view.

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6. What happens when I find a home I want to buy?

We will provide you information so collectively we can write a formal offer to present to the seller. Typically the offer will be presented to the seller through the listing agent and negotiations begin. Once all terms have been agreed upon and signatures obtained, you have entered into an accepted contract.

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7. What happens after the contract is accepted?

The time period between contract and closing (usually 30-45 days) is consumed with obtaining your home inspection, the lender formally underwriting your mortgage, setting up utilities and making moving plans.

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8. What happens at closing?

Closing is actually the easiest part of the process. Everything has been completed that is required for closing. All you do is sign loan closing documents and present a check for your down payment. Once you and the seller have signed all the documents the home is yours.

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Sellers

1. How do I know what my home is worth?

The value of your home relates to local sale prices. Recent sales in your neighborhood are used by appraisers and potential buyers to determine what they will pay for your home. The Atlanta Home Team will provide you with this information and help you compare your home with recent sales in your area in order to establish a fair value.

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2. What questions should I ask a listing agent?

1. What services do you offer?
    

2. How will you market my home?
    

3. How long are homes in my neighborhood typically on the market?
    

4. Do you have a personal web site and how do you market on the internet?

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3. What should I do to get my home ready to sell?

It is necessary to look at a home through the eyes of a perspective buyer and determine what needs to be cleaned, painted, repaired or tossed out. Make the most of that "first impression" by stepping back and looking at your home as if for the first time. The Atlanta Home Team will help you stage your home to its best advantage.

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4. What are closing costs and who pays them?

The term "closing costs" refer to the various expenses that must be paid by the buyer to obtain a mortgage. An estimate of 2.80-3.0% of the buyers mortgage amount usually covers all of the fees. Closing costs may be negotiated in the offer to purchase you home. However, the costs are the buyer's expense unless the seller agrees to pay all or a portion of the costs.

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5. Should I have an independent appraisal done before listing my home?

Most sellers do not order an independent appraisal. We will provide you with neighborhood sales information to help determine a list price. Once a buyer is under contract to purchase your home, their lender will require an appraisal and the cost will be covered in the purchaser's closing costs.

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6. What inspections do I need to have completed when listing my home?

The only inspection required of the seller is a current wood infestation report (termite letter).

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7. How can I improve the value of my home?

Most buyers seek the least expensive home in the best neighborhood they can afford. Improvements should be made so that the property shows well, is consistent with the neighborhood and is not over-improved. Cosmetic improvements help a home show better and are usually a good investment. Systems and appliances in good working condition are necessary to get the best price. Our team visits numerous homes and will provide suggestions that are consistent with your neighborhood.

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8. What is a listing agreement?

A listing agreement is a contract that shows the broker's obligations and outlines the terms under which your home will be marketed.

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RE/MAX Greater Atlanta
5591 Chamblee Dunwoody Road
Atlanta, GA 30338
 
Phone: 770-886-1766
Email: gina@atlantahometeam.com

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