The most important decision you
have to make when buying your home in Charleston SC is finding the right
Charleston SC Realtor to work with. Consumer advocates highly
recommend that home buyers hire their own real estate agents to represent them
during the home buying process. This is because the co-broker real estate
fees that the seller agrees to pay have been pre-negotiated and factored
into the home's sales price.
When selecting your Charleston
Realtor, you need to find someone who you can trust and get
along with. This is important because not all realtors are alike. The realtor you select will either make your home purchase fun and exciting or painful
and depressing. You will also need to feel confident that your Charleston real
estate agent's decision making and negotiating skills are excellent. After
all, this person will be representing you for the
entire home purchase not just finding you the right home. Although, your finding
the right home at the best price is very important. It is only the beginning. The
real estate agent's skills
will be put to the test during price negotiation, financing, homeowner’s
insurance, flood insurance, title insurance, HUD-1 settlement instructions, home inspections, CL-100
inspections and many other important areas which I will discuss for you later.
In order to have a successful
home purchase, your Charleston Realtor needs to demonstrate to you
a firm working knowledge of each professionals role during the home purchase
process. The Buyer Agent's ability to
multi-task and communicate effectively with all these different types of
professionals is difficult at best. You need a Buyer's Agent with years of
experience in dealing with contracts, addendums, riders, binders, lenders,
brokers, agents, attorneys, inspectors, insurers, disclosures and the like.
This is why you need someone like the Charleston Home Advisor to communicate and
negotiate effectively on your behalf.
The South Carolina Real Estate
Commission recently changed the laws concerning the differences between being a
"customer" and a “client”. You need buyer's agency representation now more
than ever before. Don't leave you next home purchase to chance.
Buyer's Agents require certain skill sets
I have compiled a list of several important reasons why you need the Charleston Home Advisor as your
Charleston Buyer's Agent.
Extensive knowledge of the
local market :: You need a Charleston SC REALTOR who knows the inventory
of homes available to you at any given time. With my knowledge of the
local market, I can quickly identify existing homes, as well as, homes about
to come on the market that meet your search criteria. I am
constantly showing Charleston homes for sale to potential home buyers like yourself.
Therefore, I know which Charleston SC homescurrently on the
market represent good value and offer good long term appreciation
as well as being the perfect place to call home. This local knowledge
can save you precious time and money. Why get frustrated seeing homes
which you know are not even close to what you are looking for.
Determine the fair market
value for the home's purchase price ::
The appraisal is completed by the
lender after the legal agreement to purchase South Carolina real estate is
fully executed. The lender uses this professional appraisal, from a
South Carolina Licensed Appraiser, to verify
the home's value. We will
obviously need to make your home purchase contingent upon the house
appraising for at least the contact's agreed upon purchase price. However, this
appraisal contingency, although important, will only
surface late in the home purchase process. Therefore, you want to be
sure that the purchase price you agree to pay for the home will be below the appraised
value. This is where you need
a Charleston Buyer's Agent with extensive knowledge and experience. Why would anyone want to negotiate the purchase of their next home
through the listing agent? The listing agent was hired to represent the sellers
not the buyers. So,
why wouldn’t you want to hire someone to negotiate on your behalf if the
seller is already paying for this service?
Discuss various home mortgage
financing programs :: Today, there are so many mortgage programs it can
be confusing. This is where a simple ten minute conversation can help you
determine which program is right for your particular needs. I always
recommend that you interview at least two mortgage consultants in order to get
an idea of rates and programs. After shopping mortgage brokers, we will discuss everything in detail and select the
best lender for your particular needs.
Prepare necessary contracts
and addendums :: The most important contract you sign and I
will negotiate on
your behalf is the agreement to buy South Carolina Real Estate. We will
also include different addendums to the contract which are designed to further protect your interests. In the
agreement to Purchase South Carolina Real Estate, you have certain
rights, contingencies, time expirations, stipulations, and various clauses
which need to be completed and communicated effectively to the listing agent
in order to protect your interests.
Consider sellers counter
offer :: Counter offers most generally happen and this is the time when
you really need a very strong negotiator working on your
Review South Carolina’s
Seller Disclosure Form ::
The South Carolina Real Estate Commission
requires that every seller complete a four page form which is used to disclose any know
material or latent defects about the home or property. I will review this
document for its accuracy and determine if we have any questions or concerns
regarding the purchase of the home prior to our writing an offer.
Negotiate home inspection repairs ::
Often times you will find that there are more negotiating skills required by
the buyer’s agent in removing the home inspection contingency than there is
negotiating the original contract. You will always want to be sure and
have a good home inspector complete a thorough examination of the home
before it's purchased. I will provide you with a list of licensed home
inspectors and provide you with recommendations
Coordinate the various
different types of insurance coverage you need for the purchase of your home
The Charleston South Carolina area is referred to as the Lowcountry
for good reason and
the majority of the properties will be located in what is called a flood zone.
There are different types of flood zones requiring homes be built to different
heights/elevations. Flood insurance premiums and coverage is regulated by
the Federal Government (FEMA) and the state of South Carolina (SCIC) agencies.
You will most likely need to incorporate flood
insurance into your insurance coverage. Earthquake insurance is also another
coverage you will also need. Earthquake protection falls under your
regular homeowner's insurance as a rider and not your purchasing separate
insurance. You will find that many national
insurance companies will not write homeowners insurance during different times
of the year. If there is an active tropical storm, most insurance companies
stop writing homeowner's insurance. The Charleston Home Advisor will
help you obtain homeowner's insurance coverage and answer any questions.
Finalize details with
settlement attorney :: The settlement attorney will perform a title
search at the Charleston County Court house and will write a
title opinion letter for the mortgage underwriter's review. The mortgagee clause on
the deed of trust requires that the settlement attorney provide a clear title
opinion letter before the mortgage loan can be funded for closing. The
settlement attorney also determines the various escrow amounts like property
tax, homeowner's insurance and flood insurance. The HUD-1 settlement sheet
breaks down everything into categories like pre-paid items, escrows,
recording fees, tax stamps, attorney's fees, mortgage fees, mortgage
payoffs. As your Buyer's Agent, I will review the
HUD-1 settlement pages before closing.
Schedule final walk through ::
We will need to make sure the home is still representative of
the condition from when we first entered into the contract to buy the property.
Attend closing to assure all
goes as planned ::
As your buyer’s representative, I want to be sure
that all you need to do is show up and sign the closing documents.
Timely response to all
your calls or emails ::
Your buying a home is one of the most important investment
decisions and one of the biggest financial transactions you will complete during your
lifetime. So, I will be sure to answer/return you phone calls or e-mails
promptly. This is a service
business and I take great pride in providing the best possible representation
and service to my
In summary, you now realize the importance of
selecting the right Charleston SC Realtor to work with during your home
purchase. The buyer's agent you select needs to display the experience and
professionalism that is required and needed in order to complete a successful real estate transaction.
It takes years of experience before a Realtor can completely understand real estate contracts,
addendums, financing, insurances and inspections. Why leave this all important decision of
selecting your Charleston SC Realtor to chance? Become a Charleston Home
Advisor client and make sure
the Charleston Home Advisor is working for you!