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Residential Sales | Project Management
Buyer FAQ
WHAT TYPE OF BUYER DOES YELLOW REALTYCO WORK WITH?
Buying for the first time (traditional and lease purchase)
Buying second home
Buying with contingency to sale
Buying new construction
Buying while residing out of state
Buying with creative financing
Buying for investment purposes
Buying via lease purchase
WHAT IS THE HOME BUYING PROCESS + TIMELINE WITH YELLOW REALTYCO?
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
Each step of the process involves different tasks that you will be guided through with Chan Phillips.
If you need assistance with the financing process, it will be discussed during the initial meeting.
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.
WHAT ITEMS DO I NEED IF PURCHASING A HOME WITH CASH?
Proof of Identity
Proof of Funds
Buying Timeline
*If you are purchasing under a business, additional documents are required. Contact the team for more information.
WHAT ITEMS DO I NEED IF FINANCING A HOME?
General items buyer(s) may need for the financing/underwriting process:
Proof of Identity
Tax Returns (last 2 years)
Recent Pay Stubs and/or Bank Statements (last 3 mo)
Credit Card Statements (last 3 mo)
Investment, Insurance, and/or Loan Statements
Recent Graduates (no prior income): Accepted Job Offer Letter, Degree (earned in last 12mo.)
Minimum Credit Score (based on our lender partners)
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)
No Bankruptcy in Last 2 Years (Last 12 months for Lease Purchase Option)
Debt to Income Ratio is an important factor considered during the finance process as well.
*Entrepreneurs: Alternative finance partners available for non-traditional income (i.e. 1099, LLC, etc.)
Tip: Keep a designated folder/file to store all of your documents during this process
WHAT SHOULD I AVOID DURING THE FINANCING PROCESS?
Avoid changing careers: maintain financial stability
Avoid new loans: maintain a healthy debt to income ratio
Avoid applying for credit: maintain a healthy credit score
HOW MUCH SHOULD I HAVE IN RESERVES?
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. 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:
Earnest Money
Loan Down Payment
Mortgage Points
Mortgage Insurance
Closing Costs (attorney fees, title search, pro-rated taxes, etc.)
Commission
Inspection
Appraisal
HOA
*Based on metro-Atlanta, GA real estate market.
WHAT IF I DON'T QUALIFY FOR FHA OR CONVENTIONAL LOAN?
Our lender partner Johns Creek Mortgage offers various mortgage loan alternatives:
Bank Statement Loan
Uses 12-24 months of bank statements
No tax returns required
Qualify based on real cash flow
1099 Loan
Best for independent contractors
Uses 1099 income (no full tax returns)
Expense factor applied
Simple approval process
Asset Utilization Loan
Converts assets into qualifying income
No employment required
Works for retirees or clients between jobs
DSCR Loan
Best for real estate investors
Qualify using rental income
No personal income needed
Seller FAQ
WHAT TYPE OF SELLER DOES YELLOW REALTYCO WORK WITH?
Selling after a previous attempt
Selling for the first time
Selling to buy
Selling to retire
Selling to relocate out of state / country
Selling inherited property
Selling while residing out of state
Selling for financial health
WHAT IS THE SELLING PROCESS + TIMELINE WITH YELLOW REALTYCO?
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 + Cleaning Confirmed (if needed)
Closing
Each step of the process involves different tasks that you will be guided through with Chan Phillips.
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.
A cash offer varies from the traditional selling process above. We can close as quick as 14 days. Ask about our cash offer program.
WHAT IS THE DIFFERENCE BETWEEN SELLING ON MARKET VS OFF MARKET?
On Market
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)
Off Market
Receive Cash Offer (from our buyers) + Close As Soon As 14 Days
Skip Marketing + Advertising
Property In Any Condition (except fire)
Quick Close
*Both Options Available with Yellow RealtyCo.
ARE ONLINE HOME VALUES ACCURATE? (I.E. TAX RECORD, ZESTIMATE, ETC.)
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 Yellow RealtyCo for an accurate property valuation.
HOW LONG WILL IT TAKE TO SELL MY PROPERTY?
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.
*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.
WHAT IF I NEED TO SELL BEFORE I BUY ?
Our lender partner, Johns Creek Mortgage offers a Buy Before You Sell Program. If you need to sell your home before buying your next one, the program is structured into four main stages to help you transition smoothly:
Stage 1: Getting Approved
Your loan officer submits your current home to the program.
The program reviews your property and determines your Equity Unlock amount.
Once eligibility requirements are satisfied and you receive conditional approval, you sign the Buy Before You Sell agreement.
Stage 2: House Hunting
If approved, you can use proceeds from an Equity Unlock loan toward purchasing your new home.
Once your offer on a new home is accepted, your agent coordinates the transaction with the designated closing attorney or settlement provider.
Stage 3: Closing on Your New Home
The program schedules a home inspection on your departing residence and processes your Equity Unlock loan.
You and your listing agent sign a backup contract for your old home.
Following final underwriting approval and the Equity Unlock loan signing, the mortgage lender issues the clear to close for your new mortgage.
Stage 4: Selling Your Former Home
Your agent lists your departing home on the MLS and shows it to prospective buyers.
Once an offer is accepted and escrow opens, the buyer prepares for closing.
The program works with the escrow company to handle the Equity Unlock loan payoff, and your departing home closes, disbursing your remaining proceeds from the sale.
WHY DIDN'T MY HOUSE SELL ?
The 3 most common reasons a property listing expires or does not go under contract in 52 days or less (in the Metro-Atlanta market):
Pricing & Condition: Resale homes are competing with brand new construction and pricing should reflect the condition.
Presentation: Gone are the days of cell phone photos for marketing. With more homes for sale than buyers (as of 2026), professional staging, photography, and videography are necessary to attract buyers to your property over others.
Access: While vacant properties are ideal for a hassle free showing schedule, sometimes this is not always the case. If you reside in the house you are selling, an open availability with little lead time is priority when competing with new builds and vacant properties. There are additional options to avoid showings and get sold quickly. Get started below to speak with an agent about your options.
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