When you decide it's time to buy a home, you will probably be flush with emotions. You may be nervous about the amount of money you are committing and worried that something will be found in the inspection. Once all the worry subsides, it's time to move forward with the purchase of the home. So, what can you expect at closing? We will explore closing on a home in today's post.
Are you buying a home in Augusta, Georgia? If so, it's a good idea to have an experienced real estate attorney by your side during the closing. It might be an even better idea to have an attorney with you through the entire process of buying a home so you know what to look for and how to protect yourself as the buyer.
It's hard to keep up with the housing market in Georgia. Reality television shows about investors hurriedly buying, renovating and selling old housing stock in Atlanta and Savannah are evidence of how development is in the Peach State and has been for the last decade.
If you've found the perfect property in the Atlanta suburbs or somewhere else in the Peach State, you don't want anything standing in your way. Even the prospect of a bidding war has you nervously looking at alternatives. But if you're prepared for a real estate closing, a lot less will create an obstruction for your plans.
Many people who aren't involved in the real estate industry think that selling a house is relatively easy. Few realize how much work is involved in securing a listing, generating interest among qualified buyers, negotiating an offer and getting a client to the closing table. One reason that Augusta realtors take classes and have to pass a test to become a licensed realtor in Georgia is to minimize their risk of being sued.
As a realtor, it benefits both you and your homeowner to get their home sold for as much as you can. If they have a certain amount of money set aside to make repairs or updates to their home, then there are certain modifications that seem to pay off better than others.
If you've been crunching numbers in anticipation of buying a new home, then you've likely come across title insurance as one of those costs that you have to foot the bill for. If you've never purchased a home before, you may be wondering what it is, how much coverage you need and who pays for it.
In some areas, those looking to sell their homes are required to disclose any number of things about it to potential buyers. This includes whether there's the potential that lead-based paint was used there if a crime has been committed at the home or something else. Many of these home disclosures don't have to be made in Georgia though.
If you've looked into purchasing or renting a piece of land or real estate, then you've likely seen where it's been listed as being zoned "R," "C," or "I". These stand for residential, commercial or industrial. There are other designations such as agricultural, rural and historic zoning as well. An owner may be restricted on how they can use their property based on how it's zoned.
In this do-it-yourself era in which we all live in, many of us think that we can just look something up online or just "wing it" and it will all work out fine. When it comes to either selling or buying real estate, trying to handle a transaction as large as this on your own may not be in your best interest, especially since big dollars are at stake.