Blog - ATG Title

How to Make an Offer on a House That Gets Accepted

September 21, 2021 By Jeremy

You’ve been searching and searching for the perfect home for your family. You’ve scoured listings and gone on tours and open houses. And finally you’ve found “the one.”!

Now it’s time to make an offer on the house that will get accepted. And that is what this guide will help you do.

Below you’ll learn how to make an offer on a house that gets accepted. We cover when to go under market value and when to go higher even at the risk of no other offers. You’ll also find some tips on how to make your offer stand out if multiple people sent similar ones.

To ensure you’re taken seriously as a buyer, start with the following: [Read more…]

How Much Does It Cost to Sell A House?

September 14, 2021 By Jeremy

It costs roughly 15 percent of the selling price to sell a house. But keep in mind the actual cost of selling a house depends on many factors including the appraisal price, market demand, the repairs or upgrades you make, and real estate agent fees if you use an agent (which we recommend you do).

The total cost to sell your house will also vary based on where you live and the condition of your house at the time of sale. For instance, a seller listing a house in a “sellers market” will likely be able to charge more money making the 15% cost to sell a house shrink. And vice versa. If you list in a “buyers market” you could see the 15% cost to sell a house increase because you have to compete with the other houses in your stratified market.

Another example of how these costs can change is if your house fails parts of the inspection. Failing inspection can lower the total value of the home so you make less, or the buyer could require you to fix them adding an additional cost.

If you’re worried about having to take all the costs and reducing how much you can make on your home, don’t be. Depending on your deal and means of selling (using an agent versus selling on your own), many of the costs can become the buyer’s responsibility. So lets jump in and look at which costs can be yours, both parties or the buyers responsibility.

Costs Sellers Cover:

[Read more…]

Should You Pay a Mortgage Principal or Escrow First?

August 31, 2021 By Jeremy

Should You Pay a Mortgage Principal or Escrow First

If you’re stuck between paying down the balance on the principal or escrow on your mortgage, always go with the principal first. By paying towards the principal on your mortgage, you’re actually paying on the existing debt, which brings you closer to owning your home.

On the other hand, escrow is essentially third-party funds to cover things like property taxes, homeowners’ insurance fees, and future interest, so if it is really bugging you this is another option.

But as we said, when you have to choose between paying the principal or escrow on your mortgage, always go Principal!

First and foremost, you can shorten the length of your mortgage term. This process can be expedited even further by making extra payments or going above the minimum required payment. This happens by minimizing potential interest.

Paying the principal first also increases your home’s equity. [Read more…]

What Does it Mean When the House You Want is “Contingent”?

August 24, 2021 By Jeremy

Your dream home is now listed as contingent. While that sounds like a bad thing, it doesn’t necessarily mean you won’t end up being able to buy this property.

The term contingent doesn’t exactly come across as inviting, but it’s nothing to keep you up at night. Contingent is just a real estate term and below you’ll learn what contingent means in real estate, how it applies to a home sale, and what it means to you as a home buyer.

What does contingent mean in real estate?

Contingent in real estate means that the seller has accepted the buyer’s offer, and now either party is sorting through their responsibilities as laid out in the contract they signed before closing.

The term contingent is derived from the contingencies that are put in place by the contract. Those contingencies are in place to provide a legal out for either party if something goes wrong or if either violates their end of the contract.

For example, if the home inspection reveals an issue that the seller failed to disclose, or the buyer fails to come up with the cash to purchase the home, the contract can be void allowing either party to back out unless a solution is met. [Read more…]

Can I Use My 401 to Buy a House?

August 10, 2021 By Jeremy

Yes, you can use your 401k to buy a house. But should you? This is your guide to understanding how it works and deciding if it’s a smart move for you.

Yes, you can use your 401k to buy a house so long as the holder of your account allows you to withdraw or take a loan from said account. However, if it were the ideal option, everyone would be doing it.

There are some major risks tied to the benefits of being able to tap into your 401k accounts now. That said, we want to help you understand exactly what’s in store if you decide to take this route in your home buying process.

Is it a good idea to use 401k to buy a house?

Yes, in some instances using your 401k is a perfectly viable option to purchase a home. However, if you have any other form of savings set aside, you really should consider using those funds before you go with this option.

The simple fact is that you’re borrowing or taking money from your future self when you tap into a retirement account. That means that you’re shorting yourself tomorrow to make ends meet today. Even if you only borrow money from the account, it will only accrue interest based on its current value. This is known as an opportunity cost. [Read more…]

Your Guide to Real Estate Home Inspections | Checklist

August 3, 2021 By Jeremy

A home inspection can be a pivotal part of your home buying or selling experience. It’s this very moment when the home’s health is confirmed, issues are revealed, and when renegotiations are common. No matter what side of the closing table you’re sitting on, it can be both an exciting and nerve-wracking part of the process.

It’s essential to familiarize yourself with the process in any case. That way, you know what a home inspector is looking at, what issues they may find, and what steps they determine must be taken. That’s what this guide is for. We’re going to take a look at home inspections so that you know exactly what to expect and can be ready for a quick and hassle-free closing.

What should a home inspection cost?

The average price of a home inspection is around $400. However, that number is based on homes that are 1,500 square feet or less.

Inspectors will generally start there and increase the price along with the size of the home. That might be $50 for every additional 500 square feet above 1,500, but it ultimately comes down to the inspector you hire.

Keep in mind that pricing is typically a lot more complicated. Features of the home, its age, and so on can all factor into what an inspector charges. [Read more…]

How You Know It’s The Right Time To Buy A House

July 27, 2021 By Jeremy

The home buying process can be as frustrating as it is exciting. Having to pass up on two or even three dream houses because the time just isn’t right can be highly discouraging. After all, you and your partner have been putting in the hours and making cuts—all to ensure that your savings account is nice and healthy for that moment.

You can’t help but ask, when is the right time to buy a home? Will it ever come? Or will you have to settle for rent year after year until retirement, when you can live the snowbird lifestyle?

The answer is that it will come. You just need to be patient and know what to look for. But what are the signs the time is right? Below you’ll find what we consider to be the top 7 signs it is the right time to buy a house.

When is the right time to buy a house?

The best time to buy a house is when the market has more homes for sale, the same houses are sitting on the market longer, and the asking prices begin dropping. This means there is more inventory, and the market you live in is shifting from a seller’s market to a buyer’s market.

That doesn’t mean we’ll leave you to figure things out from there. The trick is to develop a sound understanding of the home-selling market in your area. That does sound intimidating but easing into it helps you to understand the more complex elements.

And while it certainly helps to work with a trained agent, you can give yourself a good head start by looking for a few key details that tell you when it’s an excellent time to hire an agent in the first place.

7 Signs That It’s Time to Buy a House

So, what should you be looking for? Below you will find seven signs that tell you it’s the right time to buy a home. Keep in mind that each market is different and can work in various stages.

In other words, just because things are perfect for a buyer in one neighborhood doesn’t mean it’s true in the other. To ensure you land the home you want for a fair price, you need to be patient and wait till the time is just right for the home you want. [Read more…]

9 Signs It’s Time to Sell Your House

July 20, 2021 By Jeremy

If you’re on the fence about selling your home but aren’t sure if it is the right time, this post is for you. Below you’ll find questions to ask yourself with the answers to help you determine if the market is in demand for properties like yours, or if it is for other styles and you should wait to sell.

To start, you must stratify your property. Doing so is easy. All you need to do is look at local listings and break the properties into groups based on their size and features. Consider the room count, garage, square footage, age, amenities, and condition. When you do this, you’ll find that different properties list in specific price ranges and see what the original prices were, asking prices are and how long each has been on the market. By doing this you’ll be able to see if similar houses to yours are in fact in a sellers market or not.

What is a seller’s market?

A seller’s market is when there are more buyers than sellers. Demand exceeding supply gives sellers the advantage as buyers will compete with one another to secure their desired property.

Bidding wars are much more common in a seller’s market, and the result is often homes selling for more than the asking price within exceedingly short periods—many home sales can occur in 45 days or less when they would normally have taken 90 days. [Read more…]

What a Seller’s Disclosure Form Is & What to Know About Them

July 15, 2021 By Jeremy

Whether you’re buying a house or selling, you’ll need to be aware of any potential issues with the property. Familiarizing yourself with the seller’s disclosure form will benefit all parties—buyer and seller alike.

What is a Seller’s Disclosure Form?

A seller’s disclosure form, also known as a property disclosure statement, is a document provided by the seller about their knowledge of the property—any historical and potential issues. The seller’s disclosure statement is essential to both the buyer and the seller.

As a buyer, you’ll want to be aware of anything that could potentially go wrong with the property. As a seller, you’ll want to be completely honest with your buyer, not only for the sake of honesty but also to cover yourself if an issue arises. Legal action can be taken if you lie on a seller’s disclosure (more on this later).

What Should a Seller’s Disclosure Include?

A seller’s property disclosure should include a full list of issues. The exact issues that need to be listed vary from state to state, so make sure to find out your state’s requirements. Some general problems with seller’s disclosures issues across the country include:

HVAC
Mold
Pest infestations
Water damage
Leaks
Foundational integrity issues
Lead paint
Asbestos
Additions and improvement projects (without a permit)
Any major repairs made by the seller or previous owners
Insurance claims made

If there’s been a notable issue, it should be noted.

In the past, there have been underhanded attempts to pass off homes with issues to uninformed buyers. So be wary of shady sellers.

What if the Seller Lies?

[Read more…]

Can You Find Property Lines on Google Maps & Why?

June 29, 2021 By Jeremy

Regardless if you’re a buyer, seller, or agent, you need to know the exact details about any property you’re interested in dealing with. There’s no faster way to get in trouble with your neighbors than by selling or modifying what isn’t yours.

Of course, the best way to prevent these issues is to find exactly where your property lines are, and one of the most tempting sources is Google Maps. But is something so convenient also reliable?

Are property lines on Google Maps accurate?

No. Google Maps are not that accurate, and you shouldn’t rely on them as a source for factual information regarding property lines.

Much like a plat map, they only provide a general idea of where property lines exist. As with plat maps, there are discrepancies in terms of accuracy. Property lines shown on these platforms are known to be more than several feet off their actual location.

Not only that, but Google Maps does not show any easements that might exist on a property. If you’re not familiar, an easement grants another individual or entity access to a portion of your property. If you ignore this and build on top of an easement, you might wind up having to relocate or tear down the structure that exists there. [Read more…]