HOME BUYING PROCESS
There’s no way around it, COVID-19 is changing the home buying experience. So, how to buy a house during a pandemic? It’s possible, but you will need an expert agent on your side to assist you with on-line showings, agent led video/virtual tours, and the details of the home buying process. Business is operating a bit differently; but we are committed to supporting our clients and keeping everyone safe during these unprecedented times. Let us put your mind at ease, we continue to seamlessly assist our clients with purchasing their dream home while getting great rates, great incentives and a smooth real estate transaction. We are also here for you!
To prepare you for a "stress-free" real estate transaction, we provide you with a FREE 45-minute On-line Virtual Home Buyers Consultation. During this consultation you are provided with:
- Free credit report along with an analysis of how you can increase your score (if needed)
- Review your qualification for down payment and closing cost assistance programs (if needed).
- An extensive overview of the home buying process so you’ll know what’s involved and what to expect. We want there to be no surprises!
- A step by step personalized action plan to identify the steps needed for your home purchase.
- A free copy of our e-book, "Charleston's Best Home Team Home Buying Tool Kit."
Unlike what happens with some lenders, a borrower who isn't quite credit ready is not turned away. Instead, we provide support to borrowers via a designated credit consultant and will offer constructive improvement guidance until the goal of homeownership is achieved.
Buying a new home can be overwhelming. Yet, whether you are purchasing new construction, a custom-built home or resale, as a certified Buyers representative. we are with you every step of the way. We have completed advanced training and have proven experience in serving the special needs of buyer-clients. Our #1 goal is to protect your best interest!
So "NO" Worries! Leave all the work to our team. We will be there with you from contract to close. To start preparing yourself to purchase your new home in the Charleston SC real estate market, Call, email or text us Today to schedule your FREE 45 minute On-Line Virtual Home Buyers Consultation or simply complete the contact form: click here
Discover Your Dream Home
FAQs for Home Buying
Listed below are some of the Frequently Asked questions (FAQs) we get from our clients. Some of these very same questions may have crossed your mind as well; therefore we have listed a few FAQs below. Take a moment to review them and when you are done, contact us to schedule your FREE Home buyers Consultation: click here. We look forward to hearing from YOU!
Q: What are the benefits of Home Ownership?
A: Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities–like insurance, real estate taxes, and upkeep.
Q: How do I begin the process of buying a home?
A: Start by thinking about your situation. Are you ready to buy a home? How much can you afford in a monthly mortgage payment? How much space do you need? What areas of town do you like? Your home should fit the way you live, with enough space and features that appeal to the whole family.
Q: How is my Realtor compensated?
A: As your real estate representatives, we are compensated by commission, based on a home selling price. It is important for you to understand that it is customary in most transactions, that you do not pay a fee to us to work for you. We usually receive compensation through the seller within transaction, in which the commission fees are split between the listing agent and the buyers agent.
Q: What steps must I take to secure a loan?
A: The first step in securing a loan is to complete a loan application. To do so, you’ll need the following:
– Pay stubs for the past 2-3 months
– W-2 forms and/or 1099’s for the past 2 years
– Most recent award letter for social security, disability, or retirement income
– Last 2 months bank statements (must include all pages of statement)
– Copy of driver’s license and social security card
– Last retirement account statement received
– State Housing loans require last year’s tax returns all schedules
– If applicable, copy of divorce decree, child support, alimony or bankruptcy paperwork
– If self-employed, last 2 years tax returns and a year to date profit and loss
– Tax returns for the past 2 years
Q: What happens after I have applied for my loan?
A: When applying for your loan, it takes most lenders 24-48hrs to let you know the outcome of your application. It usually takes a lender between 1-6 weeks to complete the entire process and get the final approval to close on your home. Therefore, the lender may ask for more information once the application has been submitted. If the loan is approved, a closing date is set up and the lender will review the closing information with you. Do be aware that you credit is subject to be checked at any time up until the time you close on your new home. So be sure to stay within good credit standing during this time frame. This is not the time to open new accounts, secure new credit cards, or increase your debt in any way.
Q: How are pre-qualifying and pre-approval different?
A: Pre-qualification is an informal determination by a lender or mortgage broker stating how much mortgage you can afford. A pre-approval is a guarantee in writing by a lender to grant you a loan up to a specified amount. A pre-approval is what you need to place you in a strong negotiating position.
Q: What is earnest Money? How much do I need?
A: Earnest money is money put down to demonstrate good faith to the seller when buying a home. If your offer is accepted, the earnest money can be used to assist with closing cost or may be returned to you at the closing table, if not used towards the transaction. If your offer is rejected, your earnest money is returned to you. We will help you determine a reasonable amount of earnest money to submit with your offer; It will depend upon the purchase price of the home as well as the policies set within a new community. But, we recommend to our clients to expect a minimum amount of $1,000.00.
Q: What are closing costs?
A: Fees and expenses, over and above the price of the property incurred by the buyer and/or the seller in the property ownership transfer. Examples are title searches, lawyer’s fees, survey charges, and deed filing, appraisal fee, etc.
Q: What can I expect to happen on closing day?
A: The closing attorney will review all documentation with you to include the settlement statement. Once you review and understand all the documentation, you’ll sign the mortgage, mortgage note, and lots of other documentation. Once all parties have signed the closing documents, you will be given the keys to your new home! You will be given you the title to your new home in the form of a deed. The deed and mortgage will be recorded in the state Registry of Deeds.