Georgia is presently a real estate market hotbed with over 5,000 properties on the market averaging $350,000. As a savvy real estate investor or someone looking to move to this side of the country, you might want to key into this boom.
There are, however, a few things to consider when buying a new house. Do your homework before making a decision, whether it’s locating the appropriate neighborhood or making an offer for a property. Fortunately, knowing what you need to buy a house in Georgia is easy if you have all the right information at your disposal.
To make this exciting moment as seamless and uncomplicated as possible, you’ll need an understanding of the home buying process. This article is meant to enlighten you on how to identify houses for sale in Georgia. However, if you want to skip all this process and its accompanying stress, we recommend visiting timstoutteam.com to see available listings in various Georgia towns.
Tips on Finding Affordable Houses in Georgia
The following are proven tips that will help you discover affordable houses for sale in Georgia.
- Find a Dependable Georgia Real Estate Agent
A real estate agent is there to help you navigate this often-confusing process and find affordable houses that will suit your preference. Realtors receive special training, which affords them a substantial knowledge of the latest industry trends. That way, they can help you get your preferred house without stress.
Ensure you ask for referrals and do your homework before selecting a reputable real estate agent in Georgia. You can also go through several Georgia real estate listings and see if you can find one that would suit your taste, although we don’t recommend this as you might probably be deceived into getting a bad deal.
- Consider Various Financing Option
While in your quest to find houses for sale in Georgia, consider how much you want to spend and how to get the financing. Your credit score might impact the loan amount you can get, so ensure you have a high credit score rating. More so, you’ll need to drop at least a 20 percent down payment after finding a lender.
Before starting the home buying process, we recommend that you get your financing in order. That way, a seller can take your offer serious.
- Conduct a Thorough House Inspection
Although you completed a preliminary examination of the home before making an offer, you’ll need to perform a formal inspection before signing the contract. Flooding and roof problems are common in Georgia. A skilled house inspector will be able to identify these issues.
- Put Up a Bid on the House
It’s time to make an offer on the house when you’ve found the location you prefer. Bidding simply entails telling your real estate agent the home you desire and then negotiating how much you’d want to spend. Then, they’ll draft a contract and send it to the sellers as an offer.
Depending on the type of property, the contract may include stipulations for sale. At this point, the seller has the option to accept your offer, reject your bid, or make a counter-offer. Your real estate agent will help you know what’s realistic during this process so that neither side takes advantage of the other during the negotiation.
Also, don’t forget to include any noticeable repairs in your budget. Your real estate agent can use requirements for repairs as part of a bargaining tactic. Before making a formal written offer, some realtors make a verbal offer.
The seller will have an easier time countering your bid. Once both sides have agreed on a final price, a formal written offer will be sent to both parties. If it’s accepted, the next step is to draft an official contract.
- Review the Contract
There are two types of housing contracts when purchasing cheap houses for sale in Georgia. If a seller is required to rectify a defect discovered during an inspection before closing the purchase, this is one form. Unconditional contracts, in which the seller isn’t accountable for home repairs, are another option.
Second, if severe damages are detected during inspection, the buyer can quickly withdraw from the deal and deposits on the residence would be returned to the buyer. Before closing, ensure you complete a tour of the building. That way, you’ll be convinced there are no further issues that would prevent you from moving in.
- Close Your New Home
Your Georgia home buying process will be completed at this time, and you’ll receive the keys to your new home. You’ll be able to finish and sign the papers once the closing date approaches. The only thing left for you to do is to gather your possessions and move in.
After your perusal of the contract and house inspection, it’s time to close the purchase of your new home. You and your agent will need to attend final meetings to sign the contract document. At this point, you’d have received final mortgage approval from your bank.
Once the paperwork is completed, the funds will be placed in an escrow account, and you’ll be given the keys to your new house. Be patient as the entire closing procedure may take 30 to 45 days.
Where You Can You Buy a House in Georgia
With its fantastic beaches, easy access to popular theme parks, and lovely weather, it’s difficult to go wrong when purchasing a home in Georgia. Every region of the state has unique advantages that make it a desirable place to live.
If you seek places with quality houses for sale in Georgia; consider the following areas:
- Peachtree City
Georgia is a great place to live with beautiful scenery, a relaxed environment, and friendly people. Suppose you intend to move here, you might likely qualify for a variety of different first-time home buyer programs based on your previous history as a homeowner.
These options offer various benefits, including down payment assistance, lower monthly payments, and a higher likelihood of approval. With these additional benefits, it’s safe to say that searching for good houses for sale in Georgia is pretty easy with the right information and realtor.