Step-by-Step Guide to Purchase a Home
The Dammann Team provides Concierge service from start to successful homeownership!
Buying in Metro Atlanta or Decatur?
Born and raised in the Druid Hills/Virginia Highlands areas of Atlanta, Shannon and Sean have an intimate understanding of all of the in-town neighborhoods, how they connect with each other, and the many features that each unique area offers to residents. As adults, they have both lived in the city of Decatur for over 25 years. Hence, they know the area like the back of their hands! This familiarity is key in finding the perfect home for your family’s lifestyle and needs, especially when relocating.
The Dammann Team offers you the benefit of working with real estate professionals who have years of experience in buying and negotiating contracts. We know that we can help you find and secure the perfect home for your family’s priorities, lifestyle, and personality. For those of you seeking to invest, we will help you procure the perfect investment property that meets your wealth-building goals. Our team aims to ensure that your purchase is a sound financial investment as your primary residence or as a rental.
Steps to a Successful Home Purchase
Step 1 – Initial Consult/Determining Your Needs
Your Dammann Team agent will set up an initial consultation with you to explore your needs and wishes for the kind of property you wish to purchase. This will allow us to tailor our property search to your exact specifications and ensure your satisfaction with property acquisition.
Step 2 – Financing/Pre-Approval
If you are not paying cash for your purchase, it is important that you establish a reasonable mortgage payment budget before you start your home search. By working with our preferred mortgage lenders, we will assist you with an extensive base of mortgage products based on an evaluation of your unique needs. The pre-approval letter is a must-have in a competitive market because it proves to the seller that you are a qualified and competitive buyer.
Step 3 – Selecting the Perfect Home/Home Shopping
Searching for a home in a sea of available properties can be a daunting task. Let us do the searching for you! We’ll take the time to determine your specific wish list and home search criteria, then alert you when homes that meet your criteria come on the market. Using your personalized Client Portal provided to you by The Dammann Team, you can browse through the homes listed in the Multiple Listing Systems that fit your criteria and select the homes you’d like to view.
Did you know that more than 80 percent of all home purchases come from agent interaction? You are more likely to find the specific home of your dreams through an experienced agent than by searching on your own. With our vast network connections, The Dammann Team can often find listings before they are even active on the market and schedule a preview for you to give you an advantage in making your offer.
Step 4 – Negotiations to Contract
Negotiating an offer requires guidance to create a contract that will be executed by both parties. This includes price negotiations, protective contingencies, financing, a home warranty, closing costs, closing dates, deposits, repairs, move-in dates, appliances/fixtures and deadlines. The Dammann Team’s real estate and investment experience is a valuable asset when executing these negotiations.
Step 5 – Due Diligence/Inspection
A Due Diligence period usually ranges from 3 – 10 days, depending on the circumstances of the offer. During this time, you will schedule a home inspection to ensure that the property you are purchasing is in acceptable condition for your purchase. The Dammann Team will communicate with the listing agent to ensure that the inspector has access to the property as needed. You may cancel your contract for any reason with no penalty during this time.
Detailed and experienced home inspectors are paramount. When purchasing a home, you will have the advantage of a proven agent protecting your interests as a buyer. We highly recommend using one of our preferred partners to perform your inspection. We encourage you to attend the end of your inspection to get a summary from the inspector and make sure any specific questions you may have are answered. While we are not an inspection company, our Dammann Team agents have owned many homes over the years as primary residences and as investors. We have participated in many inspections and will discuss with you and the inspector on your behalf to investigate any concerns that may arise.
Step 6 – Appraisal and Loan Financing through Underwriting
All homes that are financed have to appraise for the purchase value, or the buyer must provide funds to cover the difference between the appraisal value and the purchase price. Your Purchase and Sale Contract will be designed to protect your earnest money through this phase of your purchase. A financing contingency will be provided to ensure that you secure the loan you were promised by your Broker. Again, your earnest money deposit will be protected through this period. The Dammann Team will make sure you are informed and communicate with your Lender as needed.
Step 7 – Preparing for Closing
The Dammann Team will make sure your closing attorney has the full Purchase and Sale contract in order to schedule your closing. We will ensure that the closing attorney communicates with you to make sure that you are prepared for a successful closing. The closing attorney will need some information from you in order to make sure money is wired in a safe and timely fashion. We will also confer with the closing attorney to make sure the deed to your home is researched and cleared as marketable.
Step 8 – Final Walkthrough
A final walk-through will take place before your closing to ensure that all requested repairs have been made and that the home is being transferred to you in the condition promised. Your Dammann Team agent will walk through the home with you to ensure that you are satisfied with the property before your closing.
Step 9 – Closing
Having worked with most closing attorney groups in Metro Atlanta, we maintain good working relationships with most offices. When we have the choice, we recommend our preferred closing attorneys to ensure a smooth and timely closing. Regardless of which firm conducts your closing, your Dammann Team agent will be there to make sure your needs are met during the closing and to celebrate with you when it is final!
Step 10 – Post Closing Follow Up – Move In and/or Upgrades
We have preferred partners in all construction areas, including painters, framers, hardwood flooring installers, kitchen designers, granite and cabinet installers. Our service is not finished at your closing! We aim to be your trusted Real Estate consultants for life and will be available for years to come for all of your real estate questions or needs.
Want to know more about Decatur or Atlanta and any in-town neighborhoods? Just give us a call. We will be glad to share our intimate knowledge of our amazing cities and neighborhoods.