WELCOME HOME TO MILLENNIUM 2000 REALTY INC

BUYERS
Frequently Asked Questions

Why do I need a Real Estate Agent?
For their expertise, negotiations skills, knowledge of market conditions and helping you through the process.
What do I do first?
Contact Millennium 2000 Realty, Inc. at (770) 210-1177.
When it comes to the complexities of the real estate industry, we've got the experience, expertise, and know-how to make your purchase a smooth transaction.
We're your property partners for life! Working together to bring you home . . .
Our agents will guide you through every step of the process.
What is a buyer's agent?
A buyer's agent is a real estate agent whose legal obligation is to represent the interest of the buyer. The real estate agent is able to negotiate sale price and terms on behalf of the buyer.
Who pays the Buyers Agent Commission?
Normally, the Seller/builder pays the agents commission regardless of who the agent represents.
What is a Buyer Brokerage Agreement?
It is an agreement made between the buyer and the agent stating that the buyer will work with the agent solely for a specified period of time.
When should you sign a Buyer's Brokerage Agreement?
As soon as you are comfortable with the agent of your choice. If you have not signed a brokerage agreement prior to writing a contract then an agent will require you to sign before entering into a Sales contract.
Why do I need earnest money?
Earnest Money is a gesture of good faith showing the seriousness of the buyer.
How will a real estate agent help me buy a home?
Agents make it their business to provide every service connected with your home search, from expert advice in the early stages through careful monitoring of your settlement (also "closing" or escrow). The more closely you work with one agent, the better your needs are known and the more effectively you can be served saving you time and possible grief.
Do I have to use the agent in a subdivision?
No. You have the right to choose your own agent but you should let the onsite agent know that you have your own agent representation before signing in or viewing any of the homes within the subdivision
Is it true my paycheck will get bigger when I buy a home?
Yes. If you're renting now, buying a home adds to your "take home" paycheck because you can increase your withholding allowances in anticipation of mortgage interest payment deductions on your next tax return. By increasing your allowances, you reduce the amount withheld to pay future taxes-which puts your tax refund in your paycheck today, not at the end of the year.
How much down payment should I make?
There are several advantages to both large and small down payments and which you choose depends on both personal choice and financial circumstances. Typically, buyers put down 0%-5% of the sales price but this amount can be higher or lower based on certain loan types that are available through your lender.
Do I have to pay the asking price for a home?
No. As a potential buyer, start the process by putting an offer with price and terms in writing and presenting it to the seller through your agent. Buying a home is probably the biggest financial investment you will make. Only you can decide which home you want and the price is up to you and the seller.
Do I need to have a Home Inspection?
Yes, all homes should be inspected.
How do I communicate with the seller?
All communications should be done through your real estate agent to make sure that there is no break down in communication between all parties.
How long will it take for an agent to find me a home?
If you have already been pre-qualified and you have an idea of where you want to live then it should take on an average of 1-3 weeks depending if what you are looking for is on the market in the area that you want.

Working together to

bring you home!

Millennium 2000 Realty Inc

click on the house keys for your
FREE copy of the Home Buyer Guide

Mortgage calculator and term comparison chart - Buyers, you can find out how much that new house is going to cost you each month. Enter values into the first two fields below to find out how much each monthly payment would be with the given number of payments, interest rate, and loan amount.

National Average Mortgage Rates

Program	Rates	Points
30 Yr Fixed	7.10%	0.60%
15 Yr Fixed	6.72%	0.55%
7 Yr ARM	6.35%	0.58%
1 Yr ARM	6.27%	0.59%

Mortgage Calculator & Term Comparison Chart
This calculator is provided to help you, the buyer, compare monthly payments and interest costs of home mortgages at various lengths of typical loan terms.
Enter the property value (mortgage principal) ($):
Enter the expected annual interest rate (%):

Description	10 Years	15 Years	20 Years	25 Years	30 Years
Monthly Payment:
Total Principal:
Total Interest:
Total Payments: