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Atlanta Real Estate | Frequently Asked Questions
We've assembled answers to questions often asked by our clients, whether in the market to buy or sell in Atlanta. Armed with this information, you can approach the decisions inherent in a real estate transaction and feel confident that you have a clear understanding of the important issues.
For more information, contact Great Homes ATL at (404) 963.1462
GENERAL ATLANTA REAL ESTATE QUESTIONS:
1.) What factors determine the current value of my home?
A.) Design, amenities and 'curb appeal' affect value, but a critical factor is LOCATION, LOCATION, LOCATION.
2.) How do school ratings affect real estate value?
A.) The qualities of schools and school districts have a significant impact on the value of Atlanta real estate.
3.) How much earnest money is required when making an offer on a property?
A.) Typically an earnest money deposit of approximately 5%, or an amount acceptable to the seller.
4.) What happens to a contract if the buyer cannot secure financing after making an offer?
A.) Contracts are generally contingent upon the buyer's ability to secure the financing described in the contract within a specified period, and may be rescinded by the buyer if the loan described is not available.
5.) What is the timing of the actual closing after the seller accepts my offer?
A.) Closing and transfer of title, from seller to buyer, generally takes place within 30 to 60 days after acceptance of the contract to purchase.
6.) How long after the closing will I take possession of the property?
A.) A specific date of occupancy is negotiable and is a term of the contract.
7.) What funds must the purchaser provide at closing?
A.) An estimate of closing costs may be obtained, from the mortgage company, at the time of the loan application. Down payments and closing costs must be provided in the form of a cashier's/certified check, payable to the purchaser, who endorses the check at closing