Home arrow Resources arrow AJC Articles arrow Four Home-Buying Mistakes You Don’t Want to Make - 2010-01-17

Latest Information

Lead Based Paint InformationRadio BroadcastsArticle of the WeekGA Real Estate ReportQ & A

Latest News

Your Cart

Show Cart
Your Cart is currently empty.

Login

Four Home-Buying Mistakes You Don’t Want to Make - 2010-01-17
FOUR HOMEBUYING MISTAKES YOU DON'T WANT TO MAKE

If my guess is right, a lot of prospective buyers who have been sitting on the real estate fence will be thinking more seriously about a home purchase in the year ahead. And why not? Interest rates are still very attractive, prices still competitive, and more buyers than ever may qualify for a substantial tax credit just for making a purchase.

If you are one of those considering making a move, here are some common homebuying mistakes you can avoid with just a little planning. Each is an error made by many inexperienced buyers, and side-stepping these problem areas will help make your purchase a successful one.

Here are four homebuying mistakes you don't want to make:

* Not getting prequalified by a reputable local lender.

Until you sit down with a reputable lender and tell them all about your financial situation, you are not in a position to even consider buying a home.

You can't know what you can afford, and you can't know how much you can likely borrow. In addition, a good lender will match various loan products to your personal needs. For example, if you only plan to stay in Atlanta for the next five years, you may save money with a 5/1 ARM rather than pay a higher rate for a 30 year fixed loan.

* Not working with a real estate professional.

After you have met with a local lender, your next stop should be the office of a seasoned real estate professional.

Trying to buy a home with out representation is like trying to tune up a car engine by yourself. Yes, it can be done, but there is no benefit in doing so.

If you end up buying a listed home, the seller will pay for all commissions. And if you end up buying from an owner, both of you will be fighting over the same dollars. Take my advice and ask someone you trust to recommend a veteran real estate broker.

* Failing to shop & compare.

The primary purpose of seeing more than one available home is to match your wants and needs with the features and benefits of the properties which meet your criteria. Because each house is unique, it pays to take some time to shop and compare until you find the best possible match.

In other words, don't rush the process.

* Not buying by April 30, 2010, and missing the Tax  Credit.

The $8,000 First Time Homebuyer Tax Credit and the $6,500 Repeat Homebuyer Tax Credit are both set to expire at the end of April of this year, although if you have a signed contract by that date, you can have until the end of June to get it closed. Don't miss the deadline.
 
< Prev   Next >
[ Back ]

Upcoming Events


 
"EPA CERTIFIED RENOVATOR" TRAINING

Do You Work with Real Estate?  You Must Be LEAD SAFE CERTIFIED as of April 22nd.

To all owners, realtors, investors, property managers, contractors, electricians, plumbers and painters. Do you ever engage in any level of renovation? If so, read this:

Any renovator, from owners to contractors, from plumbers to electricians to painters, who disturbs lead paint while working in a pre-1978 home, school or day care center, now must be Lead-Safe Certified.  If you’re not, you can face tens of thousands of dollars in fines. Plus, you put the health of yourself, your workers and your customers at risk, which could result in lawsuits. One simple 8 hour class certifies you for five years. It’s that easy.

Since April 22, 2010, there are new Federal rules regarding how you perform any work that disturbs lead-based paint in homes, child-care facilities and schools built before 1978.  You now must be EPA certified and follow specific work practices to prevent lead contamination.

Failure to follow the new rules can result in federal fines of up to $32,500 per day or up to 5 years in federal prison, or both. Don’t take a chance - it’s not worth it.

How To Become an EPA Certified Renovator:

In just one day, John Adams will teach you how to meet all EPA requirements and become an “EPA Certified Renovator.”

Don’t wait - register now!  Click on “Seminars” and choose your day!

  • Friday, July 30th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday, August 06th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday,  August 13th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday,  August 20th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday,  August 27th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.

    Total Course Cost: $295, includes exam and EPA-HUD 400 page manual
    Space is limited to 20 participants.

Training services provided by Seagull Environmental Management Co, Inc.
Courses are approved for purposed of certification under Section 402 of TSCA for the Certified Renovator. 

This course has been approved by the Georgia Real Estate Commission for 7 hours of Real Estate Continuing Education 
 
For more information, call toll-free 888-373-0029
 
Click above on the "Seminars" button to register
 
*************

John Adams Presents

“The MetroVestAtlanta.com REO Bus Tour”

Get on the bus for a tour of South DeKalb County’s “Real Estate Owned” homes. Each house you visit will be available that day for purchase at a giveaway price, regardless of current condition. Financing is available!

Throughout the day, we will hear from mortgage providers, people in the construction business and property managers all discussing today’s situation with Bank Owned REO properties.

Who Should Attend:  Investors, Realtors, Lenders, Prospective Buyers, and anyone who might want to buy a super-bargain house and either do the rehab themselves or have all the work performed by the pros.

You will see abandoned dumps and finished products, and everything in between.  And Snap will be there to answer all your questions and explain the rehab and rental strategies.
 
Saturday, August 21st, 9:30 AM to 4:00 PM
 
Your $49 fee includes the bus tour and lunch.  You must make reservations.  No walk-ups.
 
There is limited seating and the seats are filling fast. ACT NOW before you miss the bus.
 
We will be meeting at Suburban Plaza, 2643 N. Decatur Road and Church Street, Lower Level, Decatur 30033 (beneath Hancock Fabrics, in the arcade.) 

To register, click HERE
Supported by 3by400.com, a Dahlonega north Georgia web design team using Joomla