Buyers’ Need Analysis

Buyer's Need Analysis:

Finances - Determine if you can afford a home. Some buy with cash, but most need a lender. Typically, a 580 credit score, stable employment, and a debt-to-income ratio of 35-40% are needed. These requirements vary per individual; consult a lender for specifics.
Loan Components - A mortgage includes principal, interest, taxes, and insurance—collectively called ‘PITI’. Online calculators help, but few cover all costs like down payment and closing costs.
Pre-Qualification/Approval - Before proceeding, get a pre-qualification or pre-approval letter from a lender. This defines your price range and shows good faith with REALTORS®. Contact a lender or ask us for recommended mortgage brokers.
Pre-Qualification vs. Pre-Approval: a. Pre-Qualification: Submit an application with financial info; receive a letter estimating your max home price. Faster but less thorough. b. Pre-Approval: Provide proof of income, debt, etc.; lender assesses loan ability; issue a more detailed pre-approval letter, affected by appraisal and other factors.
Buyer Representation Agreement - Sign this to ensure proper representation during your home search.
Buyer Needs Analysis - We'll interview you to clarify your preferences, desires, and budget. Using a REALTOR® is usually free for buyers, as sellers pay the commissions. We’d be happy to assist!
Working with an ABR - Once preferences are set, start shopping! Remember, searching for a home is like shopping—you don’t want to settle for the first option.
Importance of Buying a Home - Purchasing a home is a major life decision affecting your family, neighborhood, commute, and lifestyle. We aim to make this journey positive and smooth.
Finding the Right Home - We’ll help you analyze market trends, location, and features to make an informed decision, simplifying the process.
Contract Offer and Negotiations - We’ll advise on offer pricing and terms and negotiate to secure the best deal while balancing risks.
Coordination and Closing - We’ll guide you through contracts and work with escrow to ensure a smooth closing. It can be complex, but we’re here to assist.
Post-Purchase: Move-In and Beyond - After moving in, we can help with warranties, tax exemptions, and insurance info.
Future Sales - If you move again, we’d be happy to list and sell your property, just like we helped you buy.
Seller Services - See our Seller Services and “How Do I Get Started?” for more.

The content on this page provides general consumer information. It is not legal advice or regulatory guidance. My HOME in GEORGIA updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.