Buying Real Estate
What Should I Do If I Want to Buy Real Estate in Florence County, SC?
1-Become knowledgable about the real estate market in the area. The easiest way to do this is to automatically receive email listings based on your personal search criteria. This will help you to learn the market in this area whether you are buying or selling. You will be the first to know about new listings and you will be able to monitor the market in the area you are interested in! Click here to get free priority access to the market!
2-Let me help you with pre-approval for a loan. This will let you know how much of a house you can afford so you will not waste your time looking at houses that you will not be able to buy!
3-Have access to a full-time agent with specialized knowledge of the market to help with the necessary paperwork and negotiations needed to get the property you want at a fair price
Agency Relationship in Real Estate
Agency is a legal relationship between a principal (client) and an agent (the broker and salesperson) that arises when the principal delegates authority to the agent to perform acts on the principal’s behalf and the agent consents to the delegation. In general, an agency agreement should be in the form of a written contract, but this isn’t essential unless it is required by state law.
Buyer’s agent. A real estate licensee represents a prospective buyer as an agent to find an acceptable property for purchase and to negotiate the best possible price and terms for the buyer.The agent represents the buyer's best interest throughout the transaction. The buyer is usually paid by the seller or a commission split with the listing agent.
Steps to Prepare for Home Ownership
1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
4. Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price.
5. Get your credit in order. Obtain a copy of your credit report.
6. Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.
7. Organize all the documentation a lender will need to preapprove you for a loan.
8. Do research to determine if you qualify for any special mortgage or downpayment-assistance programs.
9. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.
10. Find an experienced REALTOR who can help you through the process.
What Should Be My First Step in Looking for a Home?
In order to find the home that meets your needs you need to
become familiar with the real estate market in the area you are looking for a home. The easiest way to do this is to monitor the market in the area you are looking. You may
Search for Listings on my website
, but I strongly suggest signing up to
receive automatic email listings of all the listings currently on the market that match your search criteria and automatic notification of new properties that come on the market as soon as they are listed. That way you will be knowledgable about what is currently on the market and you will be aware of new listings as soon as they hit the market. The email reports will contain vital information and pictures of the property to help you as you begin your search. Best of all you will receive all this information via email and it doesn't cost you anything! Knowledge is power
.Register for free email notifications of properties that match your search criteria.
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