Question 1

What is the selling process and timeline?

Accepted Answer

*Initial Meeting

*Client Onboarding

*Pre-Market (photos/content, staging, marketing, etc.)

*On Market (open house and/or showings)

*Offer Negotiations and Acceptance

*Due Diligence Period

*Title Search and Appraisal

*Clear To Close

*Move Out and/or Cleaning Confirmed

*Closing

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**Each step of the process involves different tasks that you will be guided through with Chan Phillips.
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**The process from offer to closing averages 21-45 days in the Metro-Atlanta, GA area. It is important to remember every sale is unique and have its own timeline based on negotiations.
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**A cash offer varies from the traditional selling process above. We can close as quick as 14 days. Ask about our cash offer program.

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Question 2

What is the difference between selling on market vs off market?

Accepted Answer

On Market
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*Traditional (for sale sign, lockbox, showings)

*Marketing + Advertising (professional photos/videos, staging, open houses, etc.)

*Move In Ready Condition

*Generally offers Top Dollar due to greater buyer exposure

*Offers Vary (depends on local market activity, property condition, and location)

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Off Market
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*Receive Cash Offer + Close As Soon As 14 Days

*Skip Marketing + Advertising

*Property In Any Condition (except fire)

*Quick Close

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Question 3

Are online home values accurate? (i.e. tax record, zestimate, etc.)

Accepted Answer

Banks and lenders do not rely on algorithms or software; neither should you. Lenders always have an in person valuation completed by a licensed professional (i.e. appraisal, broker price opinion, experienced agent, etc.) to determine the value of a property before loaning funds. Consult a licensed agent for an accurate property valuation.

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Question 4

How long will it take to sell my property?

Accepted Answer

*Current market conditions in your local area (i.e. location, school district, neighborhood, desirability, etc.) dictates average sales times; in addition to selling on or off market.

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*As of  January 2026 in the Metro-Atlanta, GA area, the average time it takes to receive and accept an offer (days on market - DOM) is 7-52 days depending heavily on the exact location + marketing strategy.

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Question 5

How do I prepare to sell?

Accepted Answer

*Have a desired selling timeline in place.

*Review your numbers (mortgage payoff, HOA fees, etc.)

*Estimate your costs utilizing our complimentary pdf download: "Understanding Closing Costs"

*Consult a licensed agent.

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Question 6

What is the home buying process and timeline?

Accepted Answer

*Initial Meeting

*Client Onboarding

*Home Tours

*Offer Prep and Submission

*Negotiations and Offer Acceptance

*Due Diligence Period

*Title Search and Appraisal

*Underwriting

*Final Walkthrough

*Closing
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**Each step of the process involves different tasks that you will be guided through with Chan Phillips.
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**If you need assistance with the financing process, it will be discussed during the initial meeting.
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**The process from offer to closing averages 14-45 days in the Metro-Atlanta, GA area. It is important to remember every purchase is unique and have its own timeline based on negotiations.

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Question 7

What items do I need if purchasing a home with cash?

Accepted Answer

*Proof of Identity

*Proof of Funds

*Buying Timeline
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**If you are purchasing under a business, additional documents are required. Contact the team for more information.

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Question 8

What items do I need if financing a home?

Accepted Answer

General items buyer(s) may need for the financing/underwriting process:
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*Proof of Identity

*Tax Returns (last 2 years)

*Recent Pay Stubs and/or Bank Statements (last 3 mo)

*Credit Card Statements (last 3 mo)

*Investments, Insurance, and/or Loan Statements

*Recent Graduates (no prior income): Accepted Job Offer + Degree (earned in last 12mo.)
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**No Bankruptcy in Last 2 Years (Last 12 months for Lease Purchase Option)
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**Debt to Income Ratio is an important factor considered during the finance process as well. 
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**Entrepreneurs: Alternative finance partners available for non-traditional income  (i.e. 1099, LLC, etc.)
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***Tip: Keep a designated folder/file to store all of your documents during this process

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Question 9

What credit score do I need to buy a home?

Accepted Answer

Minimum Credit Score (based on our lender partners):
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*Lease Purchase Option: 550

*USDA & PATH Loan (100% financing): 580 (min 640 for better rates faster processing)

*FHA Loan: 580 (min 680 for better rates and 3.5% down payment)

*Conventional Loan: 650 (min 740 for better rates and 10% down payment)

*Jumbo Loan: 700 (min 760 for better rates and 20% down payment)

*Private Investment Loan: 650 (min 720 for better rates and lower down payment; LLC required)
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**No Bankruptcy in Last 2 Years (Last 12 months for Lease Purchase Option)
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**Debt to Income Ratio is an important factor considered during the finance process as well. 
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**Entrepreneurs: Alternative finance partners available for non-traditional income  (i.e. 1099, LLC, etc.)

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Question 10

How much should I have in reserves?

Accepted Answer

A healthy number to average is 7% of purchase price up to $450,000. A minimum of 10% plus is recommended for higher priced purchases. 
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It is important to remember every buyer is unique with their own special circumstances (i.e. finance type, interest rate, etc.) Here are a few items your reserves may cover:
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*Earnest Money

*Loan Down Payment

*Mortgage Points

*Mortgage Insurance

*Closing Costs (attorney fees, title search, pro-rated taxes, etc.)

*Commission

*Inspection

*Appraisal

*HOA
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**Based on metro-Atlanta, GA real estate market.

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Agent Chan Phillips

GA Real Estate Agent | 100+ Closed Deals | Virtual Properties Realty.biz

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