BUYING A HUD HOME A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. When buying a HUD Home, offers must be submitted by […]
Who pays closing costs?
It’s not unusual for buyers to ask the seller to pay closing costs but sometimes sellers don’t want to pay them. This is likely due to not understanding exactly what it means. So, what are closing costs, and who should pay them? Closing costs are fees associated with the buyer’s loan Closing costs include: origination fee to […]
Oconee County School named 2015 Character School
Rocky Branch Elementary School in Oconee County is the only school in Georgia to receive the 2015 Character School. “Each of the schools and districts designated as 2015 National School of Character has done a tremendous job linking ‘smart and good’ programs to so many youth; enriching students’ lives across the USA,” said Becky Sipos, […]
What’s involved with a home inspection?
After a purchase offer for a home is accepted, the due diligence period starts. This is usually 10 days in our area, and allows the buyer to terminate an accepted offer for any reason during that time. The intent of the due diligence period is to allow time for the buyer to have a home […]
What you need to apply for a mortgage
The following information will tell you what you need to apply for a mortgage. The mortgage process can be a little intimidating, but with this list, you should be able to walk in with confidence and have your loan request approved in no time! ALL BORROWERS: Copies of W-2s for the past two years Copies […]
How long will it take my home to sell? When is the best time to sell?
How long will it take my home to sell? Over the past 3 months, homes in Athens were on the market for an average of 136 days before closing. The average sold to list price for homes that sold was 96.3%. There are currently 720 active listings in Athens and 296 sold properties during […]
How accurate are Zillow Zestimates? What is your home value?
How accurate are Zillow Zestimates? When you’re trying to determine your home value, it’s easy to check Zillow. From our experience, that may not be the best place to find the value since the Zestimates are not always accurate. As an example, we own a rental house in Athens. The Zestimate of this home is […]
How much money do I need to close on a home purchase?
Several things need to be considered to answer the question: How much money do I need to close on a home purchase? Checking with a lender will give you a better answer to your specific situation, but this guide will provide the general information. Down payment – The down payment can be 0% – 20%, […]
Who pays the real estate commission?
Real Estate Commission If you’re thinking of buying or selling a home, you’ll want to know who pays the real estate commission. Real estate commission is paid by the seller. When a home is listed for sale, the listing agreement between the seller and his agent outlines who pays the real estate commission. All members of […]
What if I can’t qualify for a loan? Can I still buy a home?
If you have credit issues that need to be resolved before buying, it’s usually best to get them cleared up and wait the necessary time to be able to get financing. The main reason for this is you will probably have to pay a higher interest rate, make a higher down payment and possibly have […]