Frequently Asked Questions
What is CONDOATLANTA.com?
CONDOATLANTA.com is a full service brokerage. With 20 years of experience and commitment to the industry and our clients over the years, we are have seen tremendous growth and change in and around the city including exciting residential development – new architectural styles and designs, emerging neighborhoods and historic conversions, live-work-play and walking communities, high-tech modern hi-rise homes, authentic industrial lofts, contemporary townhomes and master-on-the-main ranch style condominium homes! We work with buyers and sellers in the Greater Metropolitan Atlanta area, and would be delighted to chat with you about the home you're hoping to sell, and the home you're hoping to find! Call on us: 404.939.5820. If you get our voice mail for any reason, leave a detailed message. We are in and out with clients throughout the week, and will return your call as quickly as possible!
How does it all work?
Below you'll find several frequently asked questions and answers... We are continually improving and expanding our site with the goal of providing information that will help you in your search. You'll enjoy the updated photos, expanded community descriptions, maps, Walk Scores and more! We also hope to have the opportunity to help you in your home purchase or resale. If you are selling your home, we offer unparalleled service for marketing your home to the widest range of prospective buyers.
What are the advantages of condominium ownership?
This list could become its very own website! For many of our home buyers, it's all about home ownership with the benefits of community management and the care and keeping of common area amenities.
Atlanta townhome and condominium homeowners also enjoy the convenience of a "lock and leave" lifestyle for the busy professional who works long hours, and may travel extensively...the empty nesters who no longer want or need to maintain larger home spaces...individuals, couples and families who seek to preserve their "off time" for rest, relaxation and fun!
Access in many communities to a broad range of amenities including swimming pool, tennis, fitness, clubhouses, business centers and concierge services! Some communities also offer common area grills for cookouts, designated pet parks, game rooms, media rooms, billiards rooms, and roof top terraces or decks! In recent years, the development of ranch style condominium homes have brought to the market more homes with green spaces and there are even some with putting greens!
Mandatory associations with fees that cover the costs of many important aspects of home ownership usually including, but not limited to the following: community liability insurance, water, sanitation, building and landscape maintenance, and care for community amenities. Dues coverage varies among the communities and do the dues commitments of homeowners. As we're working to find just the right home for you, we can explore this question in detail, and compare and contrast monthly fees and coverage for the communities that interest you the most!
What kind of financing is available for condominium home purchases?
There are excellent lending programs available for condominium purchases. Some communities are eligible for FHA or VA financing, others qualify for conventional lending programs.
Most important is your work with a lender to determine which mortgage loan program is best suited to your current financial picture and future goals. The reason is that in the current lending environment for condominium homes, both the buyer and the HOA/community must qualify based on the guidelines governing the type of loan the buyer will secure. Among other questions, the lender will examine the percentage of rentals, percentage of any HOA dues delinquencies, the amount of money the association holds in reserves and whether or not the community is involved in any pending litigation. All of this is protective for the lender and the buyer too. At the same time, it does add a layer to the search and purchase process, and makes early communication with a lender more important than ever before. With your lender's guidance and mortgage product information in hand, we'll be best able to help you match your financing to the homes most likely to capture your interest!
If you have a lender in mind, that's excellent. If not, you may want to secure the recommendation of a family member, close friend or trusted colleague. We are also happy to provide a list of loan officers known to our office. There is no obligation that any condoatlanta.com client work with a lender suggested by our office, although we confess we think these loan officers are among Atlanta's best! Most importantly, we encourage you to work with a lender who is experienced and accessible to you throughout the process - and one who actively works with condominium purchase contracts.
I'm a first time home buyer. Will you help me?
Absolutely! We will do our level best to assist you, and to offer our finest professional service whether you're purchasing your first home or are a new or experienced homeowner in transition from one home to another. We delight in helping first time home buyers make the transition from paying rent to owning, and will take excellent care of you throughout your entire purchase process through and beyond closing. We're here to help!
How does the buying process work?
Our career commitment is to the representation of buyers and sellers of real estate. Our goal is to facilitate this process...to make it flow as easily and smoothly as possible.
Working together, we can make all that happen...in the celebration of your decision to buy your first home or to transition from one property to another. We'll begin with lender prequalification, work with you on the development of a home search wish list, schedule your first appointment out to preview the best candidate homes, present and negotiate an offer when you're ready to take that step, assist with all the steps from contract to close, and help to facilitate a smooth closing when you'll hear the wonderful exclamation: “CONGRATULATIONS! You're a homeowner!”
What about closing costs?
Closing costs typically include the loan origination fee, attorney's fees, title search fees, often the appraisal, and other miscellaneous costs associated with transferring ownership of real property. The percentage goes down to some degree as the price of the home goes up because of the relative influence of "fixed" vs. "variable" costs. When writing an offer we work with your loan officer to determine the best estimate for these costs so we can try to secure these as seller paid costs within your purchase. Some home buyers elect to fund their closing costs and others wrap these into their mortgage interest rates. All this to say, there are a number of options and strategies.
What does condoatlanta.com charge for these services?
At condoatlanta.com, when our agents work for you as buyer's agents, our fee is almost always paid by the seller at the time of closing. There are no up-front fees for our services. When we work for you as a seller's or listing agent, we negotiate that fee at the time the listing is contracted. For clients who are working with us in both the resale of one home and the purchase of another, we often discount of fees to help reduce client costs!
Watch for updates and additions to this resource page and to the CONDOATLANTA website throughout! You might also enjoy our NEWSREEL. ...and do check back often. We're updating site pages and expanding community coverage and resource information for the benefit of our site visitors and clients.
Thank you for your interest! We're here to help, look forward to your email inquiries or calls, and hope you enjoy browsing our website!
|CONDOATLANTA - Your Atlanta
Townhome, Condominium and Loft Specialists.
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