The Wheeler Group Buyer Guide : simplebooklet.com

wgatl.com770-313-9647emily@wgatl.com3113 Roswell Road, Marietta 30062 Emily Wheeler @TheEmilyWheelerThank you for choosing to put your trust in our team for the process of buying yourhome. Every member of our team is committed to ensuring that ALL of your realestate needs are not just met, but exceeded! We have created this guide for yourconvenience and we hope that it will be a valuable resource. While the entire processis outlined for you here, please know that we will be staying in constant contact withyou throughout the process. Your experience will be unique and we will adjust ourservice according to your wants and needs. Our focus is on your completesatisfaction.Hey there!-Emily WheelerCEO of the Wheeler Group

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T E R M S T O K N O WDOWN PAYMENTThe initial amount of money paid by the homebuyer to the seller to secure the purchase of theproperty.MORTGAGEA loan provided by a lender to the home buyer tofinance the purchase of a home.APPRAISALAn estimate of the value of the property performedby a licensed appraiser to determine its fair marketvalue.HOME INSPECTION A detailed examination of the property by alicensed home inspector to identify any potentialissues that could affect the sale or value of theproperty.CONTINGENCYA condition that must be met in order for the saleto proceed, such as the buyer obtaining financingor the completion of a satisfactory home inspectionCLOSING COSTSFees associated with the purchase of a home thatare paid at the closing of the sale. This may includeappraisal fees, title insurance, and attorney fees.DISCLOSUREThe seller's obligation to disclose any knowndefects or issues with the property that could affectits value or safety.TITLEThe legal right to own and sell the property, whichis conveyed to the buyer at closing.ERNEST MONEYThe inial deposit to show a buyer good faith inpurchasing a home. This money is counted towarda buyer’s down payment and is usually 1%-3% ofthe purchase price. UNDER CONTRACTA stage in the sale process where the seller hasaccepted an offer, but the sale has not yet beenfinalized.OFFERA proposal to buy a property, including the priceand terms of the sale.CLOSINGThe final step in a real estate transaction where thebuyer pays for the property and the seller transfersownership.

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T E R M S T O K N O WANNUAL PERCENTAGE RATE (APR)A yearly percentage rate that expresses the totalfinance charge on a loan over its entire term. TheAPR includes the interest rate, fees, points, andmortgage insurance, and is, therefore, a morecomplete measure of the loan’s cost than theinterest rate alone. CMAThe best method available to learn their home'scurrent value. CMA is the term real estate agentsuse when they conduct an in-depth analysis of ahome's worth in today's market.CONVENTIONAL LOANA mortgage not obtained under a governmentinsured program (such as FHA or VA).DEBT-TO-INCOME RATIO A formula lenders use to determine the loanamount for which you may qualify. Also known as“back-end ratio.” Guidelines may vary dependingon the loan program.DEEDThe legal document conveying title to a realproperty.HUD-1 SETTLEMENT STATEMENTA standard form used to disclose costs at closing.LIENA legal claim or attachment against property assecurity for payment of an obligation.LOAN CONDITIONSThese are the terms under which the lender agreesto make the loan. They include the interest rate,length of loan agreement, and any requirementsthe borrower must meet prior to closing.LOAN-TO-VALUE (LTV)The ratio between the amount of a given mortgageloan and the lower sales price or appraised value.DUE DILLIGENCEThe period you have negotiated into a contract toperform your inspections., and have the right toterminate the contract for any reason. GOVERNMENT LOANA mortgage insured by a government agency, suchas FHA, VA, Farmers Home Administration, or astate bond program.CLOSING ATTORNEYThe state of Georgia closes all real estatetransactions with a closing attorney. The attorneydoes not represent either party, they represent thelender of the transaction.

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Evaluate Your Finances:Take a close look at your income, savings, and debts.Figure out how much you can afford for a down payment andmonthly mortgage payments.Consider additional costs like property taxes and insurance.Decide What You Want:List your must-haves and deal-breakers for a home.Consider factors like location, size, and amenities.Research the Market:Stay informed about the local real estate market.Look into property values and trends in your preferred area.DECIDING TO PURCHASE01

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CHOOSE YOUR REALTORChoosing a Realtor is a bit like finding a good teammate for your home search. It's important to have someone youcan trust and get along with. Since buying a home is a big deal, you want an agent who's as into your goals as youare.With our experience, think of us as your guides, not just for finding your dream home but for helping you through thewhole buying process. Your dream home isn't just a place; it's a journey, and we're here to make it simple.02EXPERIENCE AND KNOWLEDGEWe bring extensive experience and in-depth knowledge of the local real estate market to the table. Ourfamiliarity with trends, property values, and neighborhoods allows me to provide you with valuableinsights for informed decision-making.EXCELLENT COMMUNICATION SKILLSEffective communication is one of our strengths. We are not only a good listener but also a skilledcommunicator. We can convey information clearly, negotiate effectively on your behalf, and keep youinformed every step of the way in the buying or selling process.PROFESSIONALISM AND INTEGRITYWe prioritize professionalism and integrity in every aspect of our real estate journey. Your best interests are our toppriority, and we are committed to maintaining transparency, honesty, and ethical standards throughout ourinteractions.NEGOTIATION SKILLSNegotiation is a key strength of ours. Whether we’re representing you as a buyer or a seller, we excel innegotiations. Our skills include a deep understanding of market dynamics, assessing property values, andadvocating for your interests to secure the best possible outcomes.

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GET PRE-APPROVED03Pinpointing your affordable range for a home involves a careful examination of your income,expenses, and existing debts. Beyond just factoring in mortgage payments, it's essential to consideradditional expenses such as property taxes, homeowner's insurance, and ongoing home maintenancecosts. By delving into these details, you not only establish a realistic budget but also ensure acomprehensive understanding of the financial commitment tied to your dream home.Gaining a clear understanding of how much youcan afford is pivotal in ensuring a smooth home-buying process. Taking the time to research andcompare mortgage rates and terms from variouslenders is crucial in identifying the best optionthat aligns with your specific financial situation.This proactive approach not only empowers youwith valuable insights but also sets thefoundation for a more informed andadvantageous investment in your future home.DETERMINE YOUR BUDGETGET PRE-APPROVEDFOR A MORTGAGE

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FIND THE RIGHT HOME04Clearly identify your must-haves and deal-breakers. Considerfactors such as location, size, number of bedrooms andbathrooms, amenities, and any specific features that areimportant to you. This will streamline your search and helpyou focus on properties that align with your priorities.Explore and research potential neighborhoodsthoroughly. Consider aspects like safety, proximityto schools or workplaces, local amenities, andcommunity atmosphere. Visiting neighborhoods atdifferent times of the day can provide insights intothe daily life of the area. This research willcontribute to your overall satisfaction with thechosen home and its surroundings.DEFINE YOUR PRIORITIESRESEARCH NEIGHBORHOODS

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MAKE AN OFFER05Research the local real estate market, recentsales, property values, and trends. Considerneighborhood amenities and futuredevelopment plans to make an informed andcompetitive offer.Once you've found a property you're interested in, work with your real estateagent to submit an offer to the seller. Your offer should include the purchaseprice, contingencies, and any other terms and conditions you want to include.MARKET RESEARCHOFFER DETAILSBefore making an offer, create a list of non-negotiables for the home. This ensures clarityon your must-haves and deal-breakers,guiding you to make a decision aligned withyour priorities.NON-NEGOTIABLE LIST

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Your Realtor will help assist with the entire negotiation process. Their expertise provides valuableinsights, helping you navigate complex contract terms and negotiations. Having a professional byyour side enhances your negotiating position and ensures a smoother process.The seller may counter your offer with a differentprice or terms. Be prepared to negotiate and workwith your agent to come up with a counteroffer.PREPARE FOR NEGOTIATIONS06NEGOTIATIONNegotiations may require some give and take. Beopen to compromise and consider factors such asthe condition of the property, market trends, andthe seller's motivation for selling.BE FLEXIBLE

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A home inspection, conducted by a seasonedprofessional, involves a meticulousassessment of the property's condition andstructural integrity. This thoroughexamination aims to uncover any issues thatcould impact the property's value or presentsafety concerns, ensuring a comprehensiveunderstanding of the home's overall stateDuring the inspection, the home's electrical, plumbing,HVAC, and various other systems, including the roof,foundation, and overall structural integrity, will undergothorough evaluation. The inspector diligently examinesfor signs of water damage, potential pest infestations,and other latent issues.Following this comprehensive assessment, the inspectorfurnishes a detailed report highlighting any identifiedissues. This report serves as a valuable tool duringnegotiations with the seller, enabling you to discussnecessary repairs or negotiate adjustments to thepurchase price based on the inspection findings.GET A HOME INSPECTION07

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In the appraisal process, the appraiser meticulouslyevaluates factors like the home's size, location,condition, and recent comparable sales in thevicinity. Through this analysis, they derive anestimated value for the property.It's crucial to recognize that the appraisal holdssignificant sway over your financing arrangements.Lenders rely on the appraised value to establish theloan amount, underscoring the direct impact thisvaluation has on your borrowing capacity.It's customary for buyers to incorporate anappraisal contingency in their purchaseagreement, providing an option to withdrawfrom the deal if the appraisal returns a valuelower than the agreed-upon purchase price.APPRAISAL CONTINGENCY08GET A HOME APPRAISALBuyers typically bear the cost of the appraisal,which can vary from a few hundred to severalthousand dollars, contingent on the appraisaltype and property size.APPRAISAL COSTSafeguard your investment in the home bysecuring homeowner's insurance. Thisessential protection shields you fromunforeseen damages, ensuring a robustdefense against potential risks.HOMEOWNER'S INSURANCEBe mindful that the appraisal directlyinfluences property taxes. The assessedproperty value determines your tax obligation.Should the appraisal exceed expectations,budgeting for potentially higher property taxesbecomes imperative for sound financialplanning.PROPERTY TAXES

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09A few days before the closing, you will receive a closing disclosure fromyour lender that outlines the final details of your loan, including the loanterms, interest rate, and closing costs. Review it carefully to make sureeverything is accurate.REVIEW THE CLOSING DISCLOSUREFINAL LOAN APPROVALDuring the final approval, your loan application undergoes a comprehensiveunderwriting evaluation. The underwriter assesses factors such as credithistory, debt-to-income ratio, and employment stability. This stage iscritical in determining the risk and eligibility for your mortgage.UNDERWRITING EVALUATIONAs you approach the final loan approval stage, meticulousdocument preparation becomes paramount. Ensure all requiredpaperwork, from income statements to asset documentation, isaccurately compiled and organized. This proactive step streamlinesthe approval process and minimizes delays.DOCUMENT PREPARATIONClearing contingencies is the final step toward securing your loan.This involves satisfying any outstanding conditions orrequirements outlined by the lender. Timely and accuratefulfillment of these conditions ensures a smooth transition to theclosing phase, bringing you closer to homeownership.CLEARING CONTINGENCIES:

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Emily was the absolute best realtor I could have everimagined working with! I’ve heard so many house huntinghorror stories and never experienced anything close to thatwith her! It was the smoothest transaction and closing ever!Even when we, as buyers, had personal issues come up withthe sale Emily was ALWAYS available on the line to answer anyquestions and concerns! She has a knack of making you feellike you’re her only client and gives you all her attentionwhenever you need it which is priceless when you’re doingsomething as nerve wracking as buying a home! Would highlyhighly recommend her! She’s the absolute best! Thank youagain, Emily for EVERYTHING!JOIN THE HAPPYCLIENT CLUBOur experience with Emily was the best!!! Emily neverseemed to be too busy for us. She listened to us andgot a great understanding of exactly what we werelooking for. She was very knowledgeable about themarket in Sandy Springs. This was our first home-buying experience and I'm sooooooooo glad I foundEmily! This experience was beyond amazing! It was nota long out drawn process, it was easy and simple. Sheworks so you don't have to. #myrealtor4life:)Mrs. Emily Wheeler is a very awesome real estateagent. She is very upbeat, she knows what will sell ahouse and she is eager to get your house sold. Duringour first meeting with Emily, she was veryunderstanding of what my husband and I needed. Sheknew our home needed to be sold quickly and shemade that happen. We could truly depend on Emily.When we called her, she always answered the phone.Emily was extremely confident in herself, she was firmwith her negotiating skills and would not take no for ananswer. We would definitely call on Emily again to helpus purchase our next future home.Emily was great. After having two awful agents she came in andtook care of us in 24hrs. I couldn't believe I wanted to walkaway from it, not knowing anything and she was behind thescenes taking care of everything, I mean everything. Talking tothe lenders getting all information on utilities having themmake sure I was getting the best deal ever, everything. She isvery personable, knowledgeable, and most of all caring. I praythat when she gets so big she will she will keep up that samemotto, she will go very far. She even gave me a wonderful gift. Iam very hard to please, but she WOWed us. I will be using heragain for our next home within the year.

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TRUSTED VENDORSMOR TGA GE LEN DERAN T HON Y W H EEL E Rampmortgage.com678-702-4994awheeler@ampmortgage.comHOM E I NSP ECT ORMA T THE W T H ORO M ANatlantahomeinspection.com678-410-8062mt@atlantahomeinspection.comREAL ESTATE ATTORNEYNI C OLE PE T TISokelleyandsorohan.com770-955-2300npettis@oslawllc.comPLU MBE R CON TRA CTO R MOV ING CO MPA NYLAN DSC APE R PAI NTE R HVA C C ONT RAC TORELE CTR ICI AN CLE ANI NG SER VIC E PEST CONTROL SERVICEFLO ORI NG AND GR ANI TE WIN DOW AN D S CRE EN HOME WARRANTY PROVIDERwgatl.com770-313-9647 emily@wgatl.comPE A CH P LU M BIN Gpeachplumbinginc.com678-761-0930peachplumbinginc@gmail.comMA R COmarcoatl.com267-250-5508owner@marcoatl.comCH A RLI E S A NGE L S M O VER Scharliesangelsmovers.com(678) 523-5353info@charliesangelsmovers.comV& R TR E E S ERV I CE678-595-8941vyrtreeservice@gmail.comC. A CU S TO M PA I TIN G678-600-2435contact@cacustompainting.comVI L Y R O DR I GUE Z770-912-7260guatemala7715@gmail.comRO D RIG O G O MEZ770-231-8182rgomez.electric.ing@gmail.comBR A ZIL CL E ANI N Gflavyalima@icloud.com678-650-2859AR R OW E XT E RMI N ATO R Sarrowexterminators.com678-987-6679AL L SO U TH GRA N ITEallsouthgranite.net770-591-7205sales@allsouthgranite.comAA A SC R EE N & W IND O Waaascreenandwindow.com404-758-1101AC H OSAachosahw.com423-667-4505evynj@achosahw.com

The Wheeler Group Buyer Guide

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