BUYING A HOME: Get A Jump On The Competition

BUYING A HOME: Get A Jump On The Competition

Are you thinking about buying a home this year? GET A JUMP ON THE COMPETITION by obtaining a credit report and getting your finances in order. Literally thousands of Atlanta families are planning a move sometime in the next 12 months.  An amazing race occurs every time a new property hits the market, often with truly special homes selling within the first week of listing.  So, who tends to find premium homes at the best value?

There are two types of buyer:

• the savvy buyer who has done their homework and is ready to buy; 

• and the unprepared buyer who receives “on the job training.”  

Obviously, the buyer who has done their research will usually snag the best deals while the ill-prepared homebuyer will struggle to keep up.  

 What can you do to get a head-start on the competition?  You will be surprised to learn how effective a minimal amount of preparation can be in getting out of the gate ahead of the competition. 

OBTAIN COPIES OF YOUR CREDIT REPORT – You should start by making sure your finances are in order.  You will be better prepared to make a strong offer on your dream home if you are confident that your financial resources are set.       

Most homebuyers will use a loan secured by a mortgage to pay for a new home.  If you are going this route, you will want to order a copy of your credit report.  Credit reports include records of your relationships with various lenders, including credit card companies, public utilities, and mortgage lenders.  Because lenders use these reports to determine your ability to repay a loan, any mistake has the potential to ruin your chances at getting a loan. And, mistakes happen often. 

 The three major credit agencies are Equifax, Trans Union and Experion. 

Georgia law entitles you to two free copies of your credit report from each bureau in each year.  Make sure to use this free opportunity to make sure your credit history is correct. 

Visit http//www. annualcreditreport.com to obtain copies of your credit report.

Do not go to the web site advertised on TV where the three guys are singing a jingle about a free credit report.  That credit report is not free!

Next in the Series: BUYING A HOME: Get Pre Approved for A Mortgage

NEED A BUYER’S AGENT? Sally English and the English Team specialize in homes and neighborhoods convenient to Emory University, Centers for Disease Control and VA Medical Center in Atlanta Georgia.  Call Sally at 404-229-2995.  You can also search ALL Atlanta homes on englishteam.com.

We look forward to assisting you with your evaluation of the Atlanta Georgia real estate market.  We are experienced professionals with valuable negotiating skills and a track record of success.