Buying A Home

1. Contact a Mortgage Lender
Have a pre-qualification letter in hand before you start to shop. This will ensure that you are shopping at the right price point and will strengthen your negotiating power when you find your perfect house. Likewise, this will assist in ensuring compliance with the time limitations required by the Georgia Association of Realtors contract.

Be sure to let us know if you need a reference for a mortgage lender. We have many options and suggestions. It’s always a good idea to compare lenders — and be sure to inquire about loan processing fees and closing costs for each loan type.

2. Determine Your Wants/Needs
Prioritize your wants and needs. Location? Number of bedrooms/baths? Is a basement important to you? Garage? School district? Updates? Price?

3. Tour With an Open Mind!
Do your homework to understand the neighborhood. Ask questions about utilities and other homeowner fees. Look past current furnishings to see if you can imagine yourself making each house your home. Visit at different times of the day to ensure a true feel of the home.

4. Make an Offer.
Before you make an offer on a home, you will sign a buyer’s agreement to give the Red Rabbit Team authorization to represent you in the negotiation process. We will help you determine an appropriate offer and requests. Don’t be discouraged if your first offer is not accepted. A seller’s counter offer is normal. We will work hard to make negotiations realistic, quick and successful.

5. Earnest Money.
With your offer, be prepared to render an earnest money payment in the amount of 1% - 3% of the offer price. We’ll help you determine the amount necessary for the circumstances of the offer.

6. An Accepted Offer.
Once terms have been accepted by both parties, there will be a limited number of days to finalize many details. We will assist you in the coordination of all details to ensure that all time limits within the contract are met. As example, you will need to immediately contact your mortgage lender. In addition, a home inspection will usually happen during this time, with costs to the buyer (average $300-$400).

7. After Inspection is Complete.
We will assist you in determining what repairs should be requested from the seller, and we will facilitate the negotiations.

8. Communicate!
With your mortgage company to keep closing on target.

9. Details.
We will work closely with the closing attorney to get a settlement statement early so that we will have plenty of time for review.

10. Closing Day!
Prepare to bring funds as the mortgage company has directed and your driver’s license. We will be at the closing table with you on this exciting day!