Buyer's Agent Home Buyer Rebate Georgia

Home Buyer Rebates Georgia, GA

Stephen Graham (Realty Professionals, Inc) — Tue, 06 May 2008 12:44:38 -0500

As a savvy home buyer, are you researching the benefits of home buyer rebates in Georgia, GA? If so, then you are being diligent with the details of your home purchase. By capturing a home buyer rebate, you are maximizing your Georgia home purchase; however, don't stop there. You need to evaluate the competence of the Georgia buyer's agent who will offer this home buyers rebate to you; not all agents are equal.

Is the agent a true buyer's agent? Or alternatively, does he/she regularly work with sellers too?
With regard to negotiations with the seller and/or builder, is the buyer's agent focused on getting you a lower price and better terms than what is being offered?
Will the buyer's agent stand up for you on the multiple issues that generally arise during a purchase? Or, is this merely a means to attract new business that requires minimal effort on part of the agent? Is this a quick transaction that could leave the home buyer vulnerable without guidance from a true buyer's agent? Learn more about buyer's problems with mortgage lenders.
Is the agent a Realtor® too? One can be a licensed Georgia agent without being a Realtor®. A Realtor® is held to a certain code of ethics.
Per Georgia licensure, is the agent a salesperson? Or, an Associate Broker and/or Broker?
How much experience does the buyer's agent have with your type of transaction? This could be continuing education and/or real world experience.
Does the buyer's agent have public testimonials?

Get more information about a buyer agent for a resale home or a buyer agent for a new home

These are important questions, among other things, to ponder for anyone who seeks a home buyer rebate in Georgia GA. While getting a rebate of commission is very savvy, don't focus entirely on the rebate amount; there is potentially thousands extra to be saved in different aspects of the transaction that would be otherwise overlooked if your buyer's agent isn't versed on promoting 100% of your interests for all stages of the transaction.

The normal *rebate schedule that I offer for full service, from contract negotiations to closing, is as follows:

1%: $0 - $399,999
1.5%: $400,000 - $599,999
2%: Over $600,000

* Conditions apply. Click here for my buyers agent testimonials of home buyers' cash back rebates in Georgia

* I serve as a buyer's agent and offer rebates of commission to home buyers in the Greater Atlanta area: Acworth, Alpharetta, Atlanta, Auburn, Austell, Buford, Canton, College Park, Conyers, Covington, Cumming, Dacula, Dallas, Douglasville, Duluth, Dunwoody, Ellenwood, Fairburn, Fayetteville, Flowery Branch, Grayson, Hampton, Hiram, Holly Springs, Hoschton, Johns Creek, Jonesboro, Kennesaw, Lawrenceville, Lilburn, Lithia Springs, Lithonia, Locust Grove, Lovejoy, Mableton, Madison, Marietta, Mcdonough, Monroe, Newnan, Norcross, Peachtree City, Powder Springs, Roswell, Sandy Springs, Smyrna, Snellville, Stockbridge, Stone Mountain, Sugar Hill, Suwanee, Tucker, Tyrone, Union City, Villa Rica, Vinings, Woodstock, Georgia, GA

Cobb County, Forsyth County, Cherokee County, Paulding County, Fulton County (North - South), Douglas, Clayton, Henry, Coweta, Fayette, Dekalb, Gwinnett, Bartow, Jackson, Walton, Hall, Newton, Rockdale, GA, Georgia.

* There may be limitations on some of these areas for resale homes. Call me to inquire. The blue pins represent rebates for new, resale and foreclosed homes; the red pins represent rebates for new or foreclosed new homes only.

View Buyers Agent - Rebates - Map for Atlanta GA in a larger map

Home Buyer Rebates Georgia, GA

Atlanta Condos, Lofts & Townhomes

Stephen Graham (Realty Professionals, Inc) — Thu, 24 Apr 2008 17:46:08 -0500

With the rise in gas prices, it made me ponder the housing needs for people in Atlanta. Will the high cost of gas force more people to move intown ? While traffic alone is enough to make some buyers who work downtown to consider intown Atlanta living, I ultimately think gas prices will really push more people to look at condos, lofts & townhomes in Atlanta. It is simply a matter of being practical.

Not too long ago, I assisted, as the buyers agent, an intown Atlanta home buyer to purchase a new townhome. To the purchaser’s reluctance, I prompted him to get a home inspection; this turned out to be a good move. There were a few things that needed attention from the home builder; but, I want to discuss one in particular: the roof. At the tip of the roof, there was a ridge vent that allowed hot air to escape; this is a good thing. However, within the vent, the air flow was restricted because the roofers failed to cut the felt paper back to allow the air to escape. Had this not been corrected, the home buyer could have incurred higher energy costs because of the build up of excessive heat in the attic. Not only that, but trapped heat in the attic can warp the roof-decking.

View Intown Atlanta new homes in a larger map

Some times, home buyers of new condos, lofts and townhomes in Atlanta don’t think it is necessary to get a home inspection, but this is just one example of how it can mitigate problems during ownership.

Atlanta Condos, Lofts & Townhomes

Stephen Graham, Realtor®
Associate Broker - Buyers Agent
Realty Professionals, Inc (770) 491 1494
Disclaimer: Information is believed to be accurate, but not guaranteed. This content is intended to be the opinion of the author only. Therefore, you may not use, copy or redistribute any of this information or content without the expressed approval from the author.

Home Buyers Rebate Atlanta

Stephen Graham (Realty Professionals, Inc) — Tue, 22 Apr 2008 17:40:27 -0500

Home buyers in Atlanta are looking to make the buying process more affordable. While negotiating the best deal with the seller for the home is one aspect, there is also a home buyers rebate in Atlanta to be obtained through proper negotiations. The home buyers rebate would be in addition to the price and terms negotiated with the seller.

If you have searched for your home on your own, then your agent (buyer's agent) may be willing to rebate a portion of the commission to you. This home buyers rebate in Atlanta can equate to thousands of dollars to the home buyer that they would not usually receive. This buyer's rebate can help offset closing costs, buy down your interest for the entire 30 years and/or pay for moving expenses. Consult with your lender to see how this rebate can be used in connection with your loan program.

Before you start visiting homes, make sure you have the facts about a home buyer's rebate in Atlanta that saves a home buyer substantially. Click here for a rebate on a new home or click here for a rebate on a resale home.

Alpharetta, Georgia (GA) - Best Place To Buy A Home

Stephen Graham (Realty Professionals, Inc) — Wed, 16 Apr 2008 12:32:16 -0500

According to a recent article, Alpharetta, Georgia (GA) is the best place to buy a home these days. The average home price is $359,950. Alpharetta is located primarily in North Fulton county with a small section in South Forsyth county; taxes are lower in Forsyth. To assist with a home buyer's navigation, here is a map.

View Larger Map

Do you want a new home? Search Alpharetta Georgia New Subdivisions, New Houses and New Townhomes. There are extra home buyer savings available too; these savings can be very substantial.

You can search Alpharetta GA resale homes as well. Here are Alpharetta homes for sale in Forsyth Co and a sample of just some of the Alpharetta homes for sale in N. Fulton County. For a more thorough search based on your criteria, feel free to contact me, as I am a buyer agent in Alpharetta, Georgia.

Opportunities For First Time Home Buyers

Stephen Graham (Realty Professionals, Inc) — Mon, 24 Mar 2008 11:28:47 -0500

Opportunities may be looking pretty good for first time home buyers in Georgia. When conservative financial gurus are suggesting that opportunities are ripe, then even the most skeptical should take notice. It is easy to look past real estate professionals who have motives to suggest that now is a good time to buy; but, when a financial guru suggests it, it is certainly worth taking note. Many buyers are sitting on the sidelines hoping to catch the bottom of this trough. Regrettably, many may miss out because no one can catch the absolute bottom of any market, including real estate.

Update: First time home buyers may be eligible for the $8,000 tax credit during 2009. Generally speaking, a qualified first time home buyer would receive a direct credit when filing their annual tax return. Learn more about this $8,000 tax credit.

Stephen Graham, Realtor®
Associate Broker - Buyers Agent - (770) 605.6261
Realty Professionals, Inc. (770) 491.1494
Atlanta, GA

Intown Atlanta New Homes, Condos & Lofts

Stephen Graham (Realty Professionals, Inc) — Thu, 20 Mar 2008 09:17:17 -0500

The Intown Atlanta New Homes website is your source for All New Atlanta Developments, Communities, Townhomes, Lofts & Condos. This is one of Atlanta`s most comprehensive new city homes web site where you can find all Intown Atlanta New Homes & Developments and earn an extra 1% to 2% cash back incentive - buyer's rebate.

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While searching for intown Atlanta new homes is made easier, home buyers should obtain negotiating tips and advice before making a purchase.

RESPA To Roll Out New HUD-1

Stephen Graham (Realty Professionals, Inc) — Sat, 15 Mar 2008 15:01:45 -0500

RESPA to roll out a new HUD-1 form. In an attempt to simplify the mortgage process for home buyers, HUD/RESPA has proposed a new HUD-1. In addition, a new standardized GFE(Good Faith Estimate) will be implemented too. All yield spread premiums (YSP's) will be required to be disclosed on the new GFE. The combination of these new disclosures will save mortgage shoppers approximately an average of $668 at the closing table -- an estimated $8.35 billion a year. These savings will most likely come right out of the pockets of loan originators.

These changes by HUD would also create an addendum to the revised HUD-1; prepared scripts are to be read at closing that compare the GFE to the HUD-1. This process would advise borrowers whether changes in promised closing costs (settlement fees) have stayed within HUD's allowable limits -- and verifying that loan terms on the GFE match loan documents such as the mortgage note.

Buyers Agent - Georgia - GA

Stephen Graham (Realty Professionals, Inc) — Tue, 11 Mar 2008 13:00:52 -0500

1. What is a Buyer's Agent? Aside from showing buyers the homes listed for sale in the local listing service(s), new homes and possibly For Sale By Owner (FSBO) homes in Georgia, a buyer's agent is an unbiased and independent licensed GA real estate agent who is focused on promoting the buyer's interests; this may include seeking out a lower price and better terms on the buyer's behalf.

2. What is a seller's agent (listing agent)? Generally speaking, this is a real estate agent in Georgia who has entered into a contractual agreement to sell the seller's home (for a commission) and to promote the best interest of the home seller; this usually entails getting the highest possible price and best terms on behalf of the seller. The agent with the "For Sale" sign in the front yard is the seller's agent and represents the seller in GA; it is important for a home buyer to be aware of this fact.

3. How are seller's agents & buyer agents compensated? On paper, and generally speaking, they are compensated by the predetermined commission or fee paid by the seller upon closing. Regardless of the negotiated price and terms of the transaction, the home that you are buying -- if it is listed by an agent -- has a predetermined commission, or fee, built into it; you could call it a marketing fee. Generally, the funds from this marketing fee are distributed to the seller's agent and to the buyer's agent at closing in GA. If you have opted out of buyer agency representation, then 100% of the commission is rendered to the seller's agent; or, depending on the terms of the listing agreement, the seller and/or builder retains the overage. Therefore, since this commission is built into the listed home that you are buying, shouldn't you have your own buyer's agent who is looking out for you?

4. Does this apply to Foreclosures (bank owned properties)? Yes. The banks hire agents to list and sell their foreclosed homes through the listing system(s) by means of the same process. In this case, the bank is the seller and the listing agent represents the bank.

5. What if I don't have my own buyer's agent? Generally, if you elect not to have a buyers agent represent you in Georgia, then you will possibly rely upon the seller's agent for every issue that will inevitably arise during the entire course of the transaction. Can you see the conflict of interest in that case? You are left to fend for yourself; and, depending upon the listing agreement with the seller, the listing agent retains the entire commission. While the buyer doesn't directly pay for the sales commission, they do bear a burden for the commission indirectly through the sales price. If you have handled much of the legwork when searching for a home, you may consider a buyer broker's commission rebate, which is a means to reduce your buyer agent's commission directly to you, the buyer; these are monies that can be credited to you at closing for your use, or issued after closing in the form of a check.

Note: If you have opted out of a buyer agency service in GA, it may be wise to hire your own buyer's attorney in that case. For clarification, the closing attorney in Georgia often times only represents the lender in the transaction, not the buyer. With the mortgage fiasco that has taken place, independent consultation may be a good idea.

6. Do I really need a buyer broker (agent)? Instead of giving my opinion about a buyer's agent, I will refer you to what HUD (U.S. Department of Housing and Urban Development) in Washington DC has written on the matter. Here is more information for first-time home buyers regarding this issue.

Lastly and probably most importantly, not all Georgia buyers' agents are equal. You should research and interview your buyer's agent in GA. You want a buyer's agent who will go to bat for you -- even against your mortgage lender when applicable; this may include checking for oversight or inaccuracies of the HUD-1 settlement statement. Contact me and I will give you a no-obligation over-the-phone consultation about my buyer agent service. Click here to learn about a discount buyer agent for resale homes; you can also read about my buyer's agent testimonials over the years.

* conditions apply, and this is only a general overview; each real estate transaction is unique and may differ in nature.

Commission Rebate - Georgia (GA)

Stephen Graham (Realty Professionals, Inc) — Mon, 10 Mar 2008 13:45:08 -0500

A commission rebate in Georgia is a very effective approach to lower the cost of a real estate transaction for the home buyer in GA. Depending on the buyer's lender-requirements and the type of loan program (Conventional, FHA, VA), a commission rebate in Georgia can be applied toward closing costs, an interest rate buy-down or in the form of a rebate check after closing. A rebate of commission can potentially put thousands of dollars back into the hands of the home buyer -- monies that he/she would not ordinarily receive. Typically, other parties to the real estate transaction would retain these funds; however, with a commission rebate in place, the Georgia home buyer saves at closing.

Once the importance of a commission rebate in GA has been established, then a home buyer needs to address the qualifications of the buyer's agent that will provide the commission rebate. It would not be wise to merely select an agent based on a certain rebate amount, but rather a combination of the service to be provided as well as a home buyer's rebate of commission. A good buyers agent in Georgia will go to bat for the home buyer that potentially saves the home buyer thousands extra through strong negotiations in all aspects of the transaction; one can be "penny wise, pound foolish" when selecting an agent solely on the amount of the commission rebate. What's most invaluable is when a buyer's agent will contend on your behalf for the numerous issues that usually arise during a real estate transaction.

Before looking at any homes in Georgia, consult with a real estate buyer's agent that will offer the buyer a money-saving commission rebate. Click here for a buyer's agent rebate for a new home or click here for a buyers agent rebate for a resale home.

Stephen Graham, REALTOR
Associate Broker - Buyers Agent - (770) 605.6261
Realty Professionals, Inc. (770) 491.1494
Atlanta, GA

Commission Rebate - Georgia (GA)

Fannie Mae & Freddie Mac -- Independent Appraisals

Stephen Graham (Realty Professionals, Inc) — Tue, 04 Mar 2008 15:52:27 -0600

Fannie Mae and Freddie Mac are getting tough. They will only purchase loans from banks that use independent appraisers. To me, it's long overdue. Our industry has been built on a "who knows who" platform and that can lead to the problems that have been manifested with inflated appraisals. Appraisers felt compelled to please mortgage brokers & bankers in order to keep the referral of business flowing; those appraisers who brought in the value needed to support loans values were continually given referrals. However, appraisers who would not partake in unjustified appraisals were not given any business. It's time for the good guys to reap the benefits now.

VA & FHA loans - New Homes Atlanta, Georgia

Stephen Graham (Realty Professionals, Inc) — Tue, 26 Feb 2008 13:33:26 -0600

With the mortgage market in disarray, many buyers will have to seek out VA or FHA loans to obtain financing. If you are in the military or a discharged Veteran, then chances are you qualify for a VA loan. VA loans provide 100% financing without MI (mortgage insurance). Traditionally, unless a borrower has 20% for a down payment, then the borrower is charged a mortgage insurance premium on a monthly basis; this can equated to hundreds of dollars per month. With a VA loan, however, mortgage insurance does not apply. Hence, the VA loan has saved you money.

Then there's the FHA loan. FHA (Federal Housing Authority) provides government backed insurance to lenders that allow many borrowers to obtain financing with liberal underwriting guidelines. It's like an insurance policy for the lender in the event the borrower defaults on the mortgage. In many cases, the borrower can use a down payment assistance program in conjunction with the FHA loan to obtain 100% financing. There will be, however, mortgage insurance charged on a monthly basis. Two of the more known down payment assistance programs are Nehemiah & AmeriDream.

When obtaining a VA, Conventional or FHA loan from any mortgage lender, use a buyer's agent real estate rebate to lower your transaction costs (closing costs).

To get the most out of your VA, Conventional or FHA loan, use a realty rebate to reduce your interest rate (buy down), pay closing costs or reduce the price of your new home in Atlanta, GA. A cash back rebate at closing, when used in connection with your VA, Conventional or FHA loan, reduces the cost of buying a new home by thousands of dollars. This cash back rebate is in addition to all seller or builder incentives, credits, discounts and promotions; use your own lender too. Read the actual closing rebate testimonials.

Furthermore, a buyer is entitled to a buyer's agent to promote the interest of the buyer -- not the seller, builder, mortgage company and/or closing attorney. With most new home purchases in Atlanta, the seller, builder, the builder's agent, the mortgage company (preferred lender) and the closing attorney are all working together. A buyer needs their own buyer's agent who has no affiliation with any of these parties.

By using us as your buyer's agent, there is no out-of-pocket charge to you and we will pass along a commission rebate to you that would not ordinarily be given to a new home buyer. You potentially save thousands.

Click here to search all Atlanta New Homes

Stephen (Steve) Graham
Associate Broker - Buyer's Agent
www.georgia-new-homes.net

VA & FHA loans - New Homes Atlanta, Georgia

High Oil To Blame

Stephen Graham (Realty Professionals, Inc) — Wed, 20 Feb 2008 13:44:04 -0600

Inflation is certainly moving higher. It seems like all of our daily items are getting more expensive by the day. This can be directly attributed to the cost of oil. Ben Bernanke, the Fed chief, sees this as a problem going forward.

It seems to me that the housing market started to drop off when gas shot up in 2005. Aside from the very well off, high oil prices affects everyone. It makes people reassess large purchase items because of the uncertainly of oil prices. What's more, with inflation looming, the likelihood of low mortgage rates is minimal. This is a double whammy for the housing market.

Free Market or Managed Market?

Stephen Graham (Realty Professionals, Inc) — Wed, 20 Feb 2008 11:32:09 -0600

There are pros and cons with all things in life, including the manner in which to handle the economy. While I personally believe in personal responsibility, I do question if it is practical in today's world? After all, people will do whatever you allow them to do; I have found this to be true time and again in all aspects of life. Irrespective of your personal beliefs on this matter, the mortgage/real estate debacle has certainly fueled the fire for those who argue that we need bigger government to oversee the economy.

What say you? In principle, a free economy wins the day. But what about in reality?

Searching For Georgia (GA) New Homes?

Stephen Graham (Realty Professionals, Inc) — Wed, 17 Oct 2007 11:38:13 -0500

When searching for new homes in Georgia, determine which area. If you're looking in metro Atlanta, here is a directory of all listed new homes from all home builders. While searching is made convenient via online access, you will mostly like have to rely upon each community's directions to actually locate them. Since these homes are new, and the roads too, a Google map may be of little help -- if at all.

View Larger Map

Before visiting any communities, research the benefits of a new construction buyer's agent. If you see the value that such a professional brings to your transaction, you need to register that person as you visit the communities. Many communities will ask a potential home buyer to fill out a registration card upon their first visit; and generally, that card will ask if you are working with a buyer's agent. I would advise potential new home buyers not to get to specific with builders' agents about their home buying situations; those remarks can be used against them if a decision is made to start negotiations. A buyer's agent can delve deeper into the reasoning behind this protective step. If you decide to fore go a buyer's agent, then you should consider hiring your own attorney, as a closing attorney in Georgia only represents the lender in a real estate transaction.

While a buyer's attorney can assist with negotiating price and terms on new homes in Georgia, such a person will probably not have access to certain data that is availabe to real estate brokers; such data can be very revealing during the negotiation process.

Realty Professionals, Inc.
Georgia New Homes
Atlanta, Georgia -- GA

Atlanta New Houses

Stephen Graham (Realty Professionals, Inc) — Thu, 11 Oct 2007 12:51:47 -0500

New houses in Atlanta are plentiful. Everything from townhomes, condos, lofts and single family new houses are available by many new home builders. New home buyers can obtain FHA, VA and conventional loans to finance their new house.

To search all Atlanta New Houses click here.

Tips For Buying A New Home

Stephen Graham (Realty Professionals, Inc) — Wed, 10 Oct 2007 13:50:42 -0500

Looking for tips when buying a new home? A home buyer may be looking for a new home because new construction is appealing, as such a person does not want to inherit someone else's problem with an older home. Undetected leaky basements, old furnaces and worn roofs are not something a home owner wants to contend with after they have just taken on mortgage payments. Who can blame them? This can become a persistent course of events with older homes.

Alternatively, new homes provide the most up-to-date features -- low-E windows, energy efficient HVAC systems, engineered flooring systems, new plumbing pipes, high-speed data lines & much more.

What's the first step? Look for a reputable lender to see about your qualification merits. Next, you may consider hiring your own buyer's agent. Afterward, find a good website focused on new homes and new construction.

Before visiting new home communities, know all the details and tips of the new home process so you can make an informed buying decision. By stacking as many cards in your favor, you can make this a smooth transaction.

First Time Home Buyer

Stephen Graham (Realty Professionals, Inc) — Tue, 04 Sep 2007 13:26:05 -0500

First-time home buyers in Atlanta, Georgia face a plethora of choices. There are many Atlanta new homes on the market for the buyer to choose from; everything from town homes, condos, lofts & single family new homes are available. There are many buyer incentives too. A lot of Atlanta Home Builders are paying closing costs, offering appliances and new 2-inch wood blinds, as well as other incentives and discounts.

However, don't just settle for builder incentives; get a buyer's cash back commission rebate too. By using a buyer's agent who will gladly rebate some of the earned commission, you can maximize your transaction. A rebate puts money back into the hands of a buyer; this may be thousands of dollars that a first time home buyer would not ordinarily receive. Learn more about a Cash Back Rebate for new homes.

As with new homes, home buyers can save on existing properties too. In addition to negotiated incentives from the seller, the first time home buyer can obtain extra savings by means of this buyer bonus, also know as a rebate.

The Importance Of A Buyer's Agent - Atlanta Georgia

Stephen Graham (Realty Professionals, Inc) — Mon, 20 Aug 2007 13:06:30 -0500

The importance of a buyer's agent is derived from the principle that there are potentially many pitfalls associated with a real estate transaction; things you may never even think of. Caveat Emptor (buyer beware). A buyer's agent is your represenatative and advocate during the purchase. A home buyer should seek out a good buyer's agent who is focused on saving the buyer money through strong negotiations throughout the entire transaction; for homes listed in the MLS, the commission for the seller's agent and the buyer's agent is already built into the final price of the home. Perhaps, the home buyer doesn't need full service from their buyer's agent because they are willing to incur some of the legwork when shopping around or researching. In that case, a buyer's rebate at closing might be appropriate; this is merely a price reduction of buyer-agency services directly to the home buyer. While there is generally no direct cost to pay for a buyer's agent, the buyer bears some of the burden for real estate commissions through the price of the house, even though the seller appears to pay for it all.

Stephen Graham, Realtor®
Realty Professionals, Inc.
Buyer's Agent

Lender Responsibilities And Obligations

Stephen Graham (Realty Professionals, Inc) — Mon, 20 Aug 2007 11:31:25 -0500

This is a topic that might infuriate some of you who are in the real estate industry. If you are a mortgage lender or loan officer with integrity, then you should not be offended -- nor is this directed at you. There are just as many real estate agents who have no integrity too. With that said, I wanted to question whether a loan officer has specific duties to protect a client (borrower)? Is there no formal relationship established with the buyer to look out for them? It seems that loan officers and lenders can charge whatever they can get the buyers to pay and place them in loans that benefit the lenders, not necessarily the buyers.

As a buyer's agent focused on new homes, I was recently caught up in a tangle with a loan officer regarding the interest rate being charged to my client for a VA loan. To my knowledge, the borrower did not have bad credit; thus, there was no need to charge a higher interest rate. This lender was a preferred lender for a particular builder, so this could have given them a sense of exclusivity. The loan officer was charging $1,750 toward discount points to give the buyer a rate that was being offered with no discount points by other local lenders. I confronted the loan officer on the issue and she was obviously evasive. This lender was free to charge whatever they wanted, and the buyer is free to go elsewhere too. And by the way, the borrower had never locked in, so that isn't a valid argument. The loan officer simply told me, in not so many words, that the rate is what it is -- and that's that. As a result, I was going to inquire on the buyer's behalf with another preferred lender about changing over. Once this came out, I was contacted by the supervisor of the original loan officer's company; we were all put on a three-way call conference. I simply explained to this person, and the loan officer, about the need to seek alternative measures because of a sense of manipulation. There was still a lot of evasiveness. However, at the end of the conversation, a resolution came about; the discount points were waived and the buyer was given an interest rate at par with the other lenders. This was less stressful, forasmuch as all of the buyer's documentation had already been submitted; this can be quite cumbersome. Therefore, the buyer was pleased with the outcome.

As a new homes buyer's agent (click to learn more), my number one concern is the well being of my buyer; this includes the negotiation of the terms with the builder, onsite agents, their preferred lenders and attorneys. Learn more about potential oversight on the closing statement. An unsuspecting buyer can get caught in cronyism through these preferred relationships. It is my job, as an independent advocate, to promote the buyer's interests. I'll go to bat for them.

Any thoughts? Are unsuspecting buyers without a good buyer broker (agent) at the mercy of loan officers who are out to make as much as they can? What duties do lenders have to their buyers (borrowers)? What industry standards are imposed upon loan officers?

Update 8/29/2008:

One of my buyers was seeking to obtain a loan through a builder’s preferred lender. I suggested that the buyer get a second opinion from another lender to keep everyone honest (after being in the business for awhile, I have learned to strive to hold everybody accountable). The second lender offered a loan with a .25% (¼) lower interest rate than the first lender. The first lender agreed to offer the same rate, but charged a $760 loan discount point without explaining that to the buyer. I caught it when a GFE (good faith estimate) was provided to the buyer by the lender. The buyer agreed to the discount point because this particular lender was more lenient with the buyer’s current employment. Fast forward 3 weeks. A few days before closing, I encouraged the closing attorney to prepare the closing statement (HUD-1) so I could examine its accuracy. Guess what? That loan discount point was now $1,520, which was twice as much as originally quoted. We confronted the loan officer and it was dropped back down to $760.

With the mortgage fiasco that has unfolded recently, we have to learn not to simply trust just anyone -- even so-called professionals; these people include real estate agents, home builders, appraisers, closing attorneys, loan officers, real estate investors and lenders alike. It takes an experienced eye to pinpoint these nuances within a real estate transaction that might be harmful to a home buyer -- and could possibly be deemed fraud.

New Homes For Sale in Cumming Georgia (GA)

Stephen Graham (Realty Professionals, Inc) — Sat, 04 Aug 2007 12:15:49 -0500

Searching for New Homes For Sale in Cumming, GA (Georgia)?

Here are links to new homes and communities in Cumming Georgia -- Forsyth County. Home buyers can choose "Inventory Homes"; these are new homes ready for occupancy. Or conversely, buyers can have new homes built -- and that would take about 4 to 6 months.

While viewing new homes for sale in Cumming Georgia, I came in contact with a foreclosed bank owned property on the lake. Regrettably, the house has been neglected. It will take a fair amount of work to bring this house up to an acceptable appearance. In cases like these, a home buyer may consider contacting a home builder’s punch-out subcontractor to correct all these issues. While these items may seem to be overwhelming to many buyers, it is a pretty routine undertaking for an experienced punch-out person.

The key to such a situation in Cumming, GA would be to get the new home at the right price to cover the costs to fix such defects; learn more about negotiating a new home purchase. Not only that, but one needs a good home inspector to thoroughly examine everything to uncover any serious problems that may require a substantial amount of money to resolve.

Since the property is a foreclosure, a home buyer needs to seek out an independent third-party warranty; this can possibly be negotiated in the contract. Depending on the type of coverage, such a warranty can offset costs associated with major problems for a finite period after the purchase.

Lastly, it would be very wise to purchase owner’s title insurance at closing. There were obviously financial problems by this original home builder in Cumming, Georgia. There could be unresolved, and possibly undetected, mechanic’s liens by former tradesmen who were not compensated; a future home owner would not want to take on such encumbrances.

Stephen (Steve) Graham
New Construction Buyer's Agent
www.georgia-new-homes.net