Be The Buyer That Wins This Spring

It’s the first day of Spring, and all over Metro Atlanta “For Sale” signs are popping up in front yards as more people plan to take advantage of the busy spring market. More homes for sale will inspire more buyers to jump in, too, and competition can get fierce. Already, our agents are reporting an increase in multiple offer situations, and calls for “highest and best” happen daily. How can you, as the buyer, be a top contender and, hopefully, the winner when it comes to the home of your dreams? Not surprisingly, your financial health plays a big role in making you an attractive buyer.

Examine Your Finances

If you’re like most buyers, you’ll need to secure financing with a lender before you can buy. Before speaking with one, gather all the information you can about your personal finances, including bank statements, loans, credit cards, and your credit report. Buyers are often surprised by items on their credit that can derail the home buying process. If you catch a problem early, you’ll have time to correct it.

This is a great time to add up your available savings, too.  While there are down payment assistance programs available, not every buyer will qualify for one.  Most loans require a 20% down payment.  One great way to save is to compute your estimated monthly payment (you can do that HERE), and try to save it each month even before you are ready to buy.

Visit with A Lender to Obtain Pre-Approval

Speak to a qualified lending expert, like Sylvia Taylor at Fidelity Bank Mortgage, to find out exactly how much house you can afford based on your savings, debt, income, and credit history.  With a pre-approval letter in hand, you are automatically a more qualified (and informed) buyer than those who have not completed this crucial step.

Be Careful with Your Finances

Once you have that pre-approval letter in hand, don’t change your financial situation by opening new lines of credit. Wait until after your home purchase to buy that new furniture or that shiny, new car. Don't miss a payment on current loans, either. New loans and missed payments can invalidate your pre-approval, lead to closing delays, and sometimes stop a sale completely.

Work with a Peggy Slappey Properties REALTOR®

Rule #1 of the busy spring market:  Hire a qualified, knowledgeable PSP REALTOR® to help in your home search and navigate the negotiation process once you decide to make an offer.  Real estate transactions involve inspections, counter-offers, appraisals, repairs, and plenty of legal documents that must be executed correctly.  Get advice you can count on throughout the process by hiring a professional who knows the business, and you’ll be a top contender every time.

Today, get outside and enjoy the weather on this beautiful first day of spring! Then, give us a call at 770-271-5555 or visit www.psponline.com to start your home search and get ahead of the crowd.

Peggy Slappey Properties, Inc. is a Metro Atlanta real estate brokerage with over 30 years of experience in real estate sales and marketing.  From new home construction to resales, we can help you find the home of your dreams.  To see our current listings, visit www.psponline.com and call us for expert advice at 770-271-5555.  Keep up to date with the latest PSP events and offers by checking in on Facebook at https://www.facebook.com/peggyslappeyproperties and on Twitter at https://twitter.com/psponline.