| Buying
a Property
Learning the ins and outs.
The
first step in purchasing a home is finding financing. Unless
you are paying cash or setting up a property exchange, you will
need to be pre-approved for a home loan. Interest on mortgage
loans is tax- deductible, and interest rates are still very low.
Below are a couple of the lenders in the Charleston area that
I would recommend.
Russ Walter:
www.1stcapitalmtg.com
Leah Odom
www.leahodom.com |
When
buying a home, an offer of earnest money is given with the ratified
contract to show your good intentions. This amount varies depending
on the price of the home.
Once
there is a ratified contract, the lender will set up an appraisal
of the property to make sure it is worth what you are paying. This
may have to be paid up front, depending on the lender.
You also have the right
and privilege of having the property inspected by a professional
to check for deficiencies or problems. This may have to be paid
for at the time of inspection. You may submit a list based
on this inspection to the seller for correction. This list
is negotiable and not guaranteed.
As buyer you will pick the closing attorney as well. The seller must provide
that attorney a CL-100. That is an infestation report. Everything
under the home will be inspected for termites, rot, water damage,
and mold/mildew issues. Then you are ready sign the contracts and
move into your new home.
I will be with you every step of the way throughout this process. If you feel
ready, please go to the contact page and send me your information,
and some idea of what you are looking for and we can get started
together.
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