first time homebuyer: Home Inspection Reports - 06/29/10 03:57 PM
When interviewing a home inspector, ask the inspector what type of report format he or she provides. There are many styles of reports used by property inspectors, including the checklist, computer generated using inspection programs, and the narrative style.
Some reports are delivered on site and some may take as long as 4 - 6 days for delivery. All reporting systems have pros and cons.
The most important issue with an inspection report is the descriptions given for each item or component. A report that indicates the condition as "Good", "Fair" or "Poor" without a detailed explanation is vague and can … (0 comments)

first time homebuyer: Home Buyer Checklist - 06/16/10 05:09 AM
The Home Buyer Checklist identifies some of the important factors to consider when choosing a home. In addition to an affordable sales price, you will also want to be sure that the neighborhood and house meet the needs of your family.
Take this checklist along when you go shopping for your house. It will help you evaluate the neighborhoods and assess the availability and condition of various features of up to three homes in a side-by-side comparison.
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first time homebuyer: First Time Homebuyer Mistakes - 06/06/10 08:26 AM
A. They don't ask enough questions of their lender and end up missing out on the best deal.B. They don't act quickly enough to make a decision and someone else buys the house. C. They don't find the right agent who's willing to help them through the homebuying process.D. They don't do enough to make their offer look appealing to a seller. E. They don't think about resale before they buy. The average first-time buyer only stays in a home for four years.
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first time homebuyer: Storage Space - 05/30/10 02:33 AM
No matter how much storage space they have, most people feel that it's never enough. Most buyers put storage space high on their list of priorities for a new home, and all sellers must face the minor indignity of having prospective buyers open all of their closets to determine the size of each one.Even an enormous closet looks small if it is cluttered. Your closets should be as organized as possible while your property is on the market. If you have too many things, have a yard sale, rent a storage unit temporarily, or make a tax deductible donation to a … (1 comments)

first time homebuyer: Tenant/Landlord Relationship - 05/29/10 04:45 AM
It is important to attract and keep great tenants when you own investment property. A good way to begin a positive tenant/landlord relationship is with clear communication about what you expect from your tenants and what they can expect from you.The written lease agreement spells out the legal obligations of each party--the landlord must ensure that the property is habitable and complies with local codes, and the tenant must pay the rent in a timely manner and not damage the property. Make sure that the terms of the agreement are stated clearly in straightforward language.Let the tenants know of your commitment … (1 comments)

first time homebuyer: What is Fair Market Value? - 05/27/10 04:04 AM
What is the best price for some real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV is defined as "the price that a buyer is willing to pay and the seller is willing to take". Sounds great, but how is this price determined?The starting point for determining a fair price may be an opinion of the value or "competitive market analysis" : a CMA. This analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired listings (which did not sell). Local, national and … (0 comments)

first time homebuyer: Need Title Insurance? - 05/26/10 02:53 AM
Title insurance is one of the closing cost items on the closing statement when a home is purchased. This insurance protects the buyer from defects in the title that are not discovered until after the closing. There are two kinds of title insurance--coverage that protects the lender for the balance of the mortgage if the buyers have a loan, and coverage that protects the buyers' equity in the property.It is prudent to purchase owners' coverage because most of the title problems that arise after a closing are not from a sloppy title search, but are the result of inaccurate information in … (0 comments)

first time homebuyer: FHA Advisory - 05/25/10 06:11 AM
If you are in default on an FHA-insured mortgage, and the lender intends to foreclose, you should know about the Mortgage Assignment Program. You will have to provide certain information to the FHA to apply for this program. To be considered eligible for assistance, the home must your primary residence, you must be at least three full payments behind on the mortgage, and the reason for your failure to make the mortgage payments must be due to circumstances beyond your control, such as unemployment. The FHA must be reasonably certain that you can resume making the payments at the end of … (0 comments)

first time homebuyer: The Title Search - 05/24/10 03:11 AM
The people who do title searches have an extremely important job. They must ensure that the sellers really own the property being sold and that all liens against the property are being paid off as a result of the sale.If the seller has had financial difficulties, for instance, and didn't pay his bills, there may be judgments that must be satisfied on or before the closing. Someone in addition to the party who signed the sales agreement may have an interest in the property. If so, it will be necessary for that person to sign the sales agreement and the deed … (4 comments)

first time homebuyer: Need Mortgage Protection? - 05/23/10 02:08 AM
If you have a mortgage on your home in town, you have probably gotten several offers from insurance companies that sell coverage to pay off your mortgage if you die unexpectedly. Insurance is a good idea in most cases, however, mortgage insurance is usually a poor value.If you read the large print, it looks like the policy will protect your family if you die before your mortgage is paid off. All you have to do is fill out the paperwork, have a physical exam, and pay a little more each month. The fine print, however, may limit the coverage to accidental … (1 comments)

first time homebuyer: Evaluating Neighborhoods - 05/22/10 04:32 AM
When sellers think about curb appeal, they usually think about their own front yard and the effort required to keep the house looking good. When prospective buyers look at homes, they evaluate the house and the neighborhood. If you need to move, the price that your neighbors get for their house could have an impact on the value of your home.This knowledge makes its own case for doing your part to make the neighborhood appealing. The time to take remedial action is before you think about moving if your house is the one with peeling paint, over-grown bushes, rusty bicycles, and … (1 comments)

first time homebuyer: The Settlement - 05/21/10 05:19 AM
The buyer and seller will sign the settlement sheet at the closing, detailing all of the charges that each party has incurred during the sale of the house. It is crucial to go over the sheet for accuracy and to make sure that you understand everything on it before you complete the transaction.When a contract is negotiated, each side agrees how to divide the loan fees (or points), as well as the other closing charges, such as state or local taxes or escrow fees. Your Realtor can go over the settlement sheet and help you compare it with your purchase agreement. … (1 comments)

first time homebuyer: Moving Day - 05/20/10 09:05 AM
The closing on the sale of your home is Friday morning at 11:00, and that afternoon at 3:00 you are to complete the transaction on the house you are buying. Your sellers are completing the purchase of their new house on Monday. As sellers, each of you is obligated to leave your house vacant and clean at the time of the closing, and you will take possession of the home you are buying after the closing.If you are faced with a game of musical moving vans, you may want to negotiate with your buyers or sellers to remain in your old … (1 comments)

first time homebuyer: Energy Efficiency - 05/19/10 02:52 AM
Home buyers¬†are increasingly concerned about the rising cost of energy. It is common for buyers to ask about utility costs and the energy efficiency when they are considering a home. One way to reduce energy costs is as simple as changing your light bulbs--from standard ones to compact fluorescent bulbs which are designed to fit most standard light fixtures and lamps.The initial purchase price of compact fluorescent bulbs may seem a little steep--they average between $13 to $20 per bulb, but they last at least 10 times longer than a standard light bulb and will reduce your energy bills significantly. Manufacturers … (0 comments)

first time homebuyer: Moving Companies - 05/16/10 11:52 PM
Contacting different moving companies is one of the first steps in moving to a new house. You will find a variety of service options and price ranges from which to choose, whether you are moving across town or thousands of miles across country.Call several companies for estimates. Ask each company exactly how their charges are calculated and what is included. How much insurance is included in the estimate? What is the cost for additional coverage? Are there special provisions for fragile or unusually valuable items? Is the delivery date guaranteed? If economizing is important, ask if there are ways to cut … (1 comments)

first time homebuyer: Home Inspections - 05/14/10 01:50 AM
If you have a house for sale in town, your buyers will probably include a structural inspection contingency in the contract which will allow them to have an expert check the house and the major systems and appliances.A professional structural inspector can help buyers to "know" the house and to feel comfortable with it, but the inspection does not result in a pass or fail grade. The buyers will learn important things about the house, such as where the water cutoff valve is located, in case of an emergency. The inspection may also help buyers set up a budget for repairs … (1 comments)

first time homebuyer: Remodel or Move? - 05/11/10 04:44 AM
Your family has outgrown your home in town, but you have roots in the community that make it difficult to leave. Is remodeling the solution?Get professional advice before you jump into a major renovation project. Decide what changes you want to make, and get bids from several contractors. When you have an estimate on the cost of the project, talk to your Realtor to determine if these changes will be cost-effective. Over-improving your home may make it difficult to get your money back if you sell it soon.It is a good idea to talk with friends who have remodeled to get … (1 comments)

first time homebuyer: Re-Financing - 05/06/10 03:58 AM
Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges.The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be … (1 comments)

first time homebuyer: New Loan - 05/01/10 04:56 PM
If you are considering applying for a mortgage to purchase a new home or to refinance your present home, don't delay. Despite fluctuation in interest rates, lenders are still swamped with new loan applications, many from refinancers.You should gather all the necessary paperwork before you apply, and get your loan application in as soon as possible. At a minimum, this information will consist of proof of your earnings, as well as a clear picture of your total monthly expenses. If you are self-employed, or have long-term obligations, such as alimony or child support, the preparation time and the amount of paperwork … (0 comments)

first time homebuyer: Completing the Sale - 04/29/10 06:04 AM
Some buyers and sellers arrive at the closing feeling terrific about the transactions--they like each other, they like their new home, their Realtor, and even the lender. Others feel stressed out and are complete nervous wrecks. Whether you are the buyer or the seller, you will play an important part in determining which of these scenarios characterizes your closing.The professionals who are involved in real estate transactions work hard to make things go as smoothly as possible, but the quality of the transaction often depends not so much on what happens, but how you react to what happens. If you communicate … (0 comments)

 
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Dallas Chambers

Conyers, GA

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RE/MAX Agents Realty

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