Georgia Real Estate Voice

Is that Condo FHA approved? In metro Atlanta we have lots of condos for sale.  Buyers who will be using FHA insured financing (3.5% down) need to know if the condo is on FHA's approved condo list.

Check out the official site for FHA Approved Condos.

Many Atlanta condos have restrictions limiting the number of rentals in a community.  One of the reasons is because FHA will not approve a condo if it has more than 20% rentals.  Some condos have wait lists of 2 or more years to be able to rent out your unit.   If you are considering renting out your place in the future, I would suggest getting on the list early. 

If you're thinking of buying or selling a condo in Atlanta or Smyrna, contact Jen Bowman, Keller Williams Realty Cityside at 404-456-5024.

What's that neighborhood like? One of the best ways to determine if you'll like a particular metro Atlanta neighborhood is to drive through it on a sunny weekend day. Why? That's when the neighbors will be out in the yard. Stop and say, Hi, I'm thinking of moving into this area, how do you like it? People will talk. You'll hear if cars speed too fast through the streets, you'll hear about the families and how long people have lived there. If they love it, they will tell you. If they don't like a neighbor, they'll tell you why. People will also tell you about crime, the quality of the construction, their opinion of the schools and on and on. Listen and you'll learn.

In our Georgia real estate contracts there is a section called "Duty of Buyer to Inspect the Neighborhood" Yes, it's in the contract. 

Here it is:

"Duty of Buyer to Inspect Neighborhood:

Buyer acknowledges that: (1) in every neighborhood there are conditions which different buyers may find objectionable and (2) Buyer has had the full opportunity to become acquainted with all existing neighborhood conditions (and proposed changes thereto) which could affect the Property including without limitation land-fills, quarries, high-voltage power lines, cemeteries, airports, prisons, stadiums, odor and/or noise producing land uses, crime, schools serving the Property, political jurisdictional maps and land use and transportation maps and plans. It shall be Buyer's sole duty to become familiar with neighborhood conditions of concern to Buyer.

If Buyer is concerned about the possibility of a registered sex offender residing in a neighborhood in which Buyer is interested, Buyer should review the Georgia Violent Sex Offender Registry available on the Georgia Bureau of Investigation Website at www.gbi.georgia.gov."

So it's pretty clear within the Georgia real estate contract that a home buyer should check out the neighborhood, but it's more than that for me, I like talking to people and hearing their point of view.

In the last 3 homes I bought to live in as my primary residence, I've stopped to talk to the people in the neighborhood first. Remember, the neighbors are probably just as curious to know who is going to be their new neighbor!

See other posts related to Home Buying:

Home Buying information for Georgia Home Buyers

Q & A on Title Insurance in Georgia

Common Questions about Earnest Money

I want to buy a home - What's the first step?

Pre-Qualified Just to See the House?

Back to the Basics - What's an offer anyway?

Due Diligence & what it means to the home buyer

If you are thinking of buying or selling real estate in metro Atlanta, call Jen Bowman, Broker Associate with Keller Williams Realty Atlanta Partners at 404-456-5024.