FAQ’s
How do you know if you can afford to buy a house?
Great question! The very best way is to speak to one of our preferred lenders. Our mortgage officers have been in the business for a while and can pre qualify you for your loan. They will look at your income ratio’s, credit reports, etc. and let you know just how much house you can afford. I promise they will not put you ‘in over your head’. Interest rates are still pretty low, it is a great time to buy a house. If you are renting presently, you can probably afford your own home, providing your credit is in good standing.
What are closing costs?
Closing costs are costs associated with purchasing a home. They include, but are not limited to: down payment, earnest money, credit reports, appraisals, inspections, origination fee for the loan, attorney’s fees, deed stamps, recording fees and overnight mail fees. You can count on a ‘ball park’ figure of at least 5% of your loan amount in closing costs, not including your down payment.
Can the seller pay our closing costs?
In some cases, some sellers will agree to pay some or all of your closing costs. There are many factors that go into negotiating the sales price and terms of your purchasing contract. Our buyers agents will be happy to discuss these details with you. Remember our mission statement: “… Building on sound professionalism, integrity, and ethics, we will give sound real estate advice while exploring new ideas and technology to make the selling and buying or real estate less costly and easier. ….”
What is earnest money?
When making an offer to purchase, an earnest money check shows the sellers that you are indeed interested in purchasing. In other words, it shows ‘earnest’ and you are a serious buyer. This money, upon acceptance of your offer, will be credited back to you at closing. It will be held in the real estate companies escrow account until day of closing.
How long does the buying process take?
After making an offer, expect to be in your new home within 6 – 8 weeks. At one time, a month was about the average processing time. With so many new regulations, your mortgage officer may require some additional time. Remember, the offer to purchase and acceptance is just the beginning of the journey.
I am searching the web each night for houses in my price range. Sometimes when I locate a house that catches my interest, the house is already sold or under contract. Why?
Some web sites, such as zillow and trulia, are behind on updated information. Let your Realtor work for you. They are provided continual updated information through the local MLS of which they are members.
I want to try to sell my house For Sale By Owner to save the real estate fee.
Some FSBO’s are very successful. However, there are a few things to be sure to check out. First, be sure you are showing your home to well qualified buyers and not just lookers. Be sure you are home or have someone available to show your home at a moments notice. Some buyers will call a FSBO while sitting at the curb looking from the car. Be sure to consult an attorney and get a sellers disclosure statement which is required by the state of South Carolina. Keep in mind there is but one fee to ‘try and save’. The buyer will also be trying to save this fee when working with a FSBO. The best advice I can give you is this: Hire a Realtor. We will work to get you the best price in the shortest amount of time, with the terms that will fit your needs. Talk to us and let us hear your concerns. If we don’t do our job to your satisfaction, and reasonable attempts have been made to right the wrong, you can fire us. We will do our best to serve your real estate needs.
