An encumbrance in real estate is any legal claim, lien, restriction, or right held by someone other than the property owner that affects the use or transfer of that property. If you're selling a home near Lake Marion, this could be the hidden issue that delays or even kills your deal.Encumbrances don’t always mean something is wrong, but they do mean you’ll need to be transparent, and in many cases,...
buying a home
A Complete Guide for Lake Marion Home Buyers: What Is PMI and Why Does It Matter?If you're planning to buy a home in South Carolina—especially in the Lake Marion area—you’ve probably heard the term PMI, or Private Mortgage Insurance. So what is it, exactly?PMI is an insurance policy that protects the lender—not you—if you put down less than 20% on a conventional mortgage. It allows more buyers to...
Thinking about buying a home “as-is”? It can be a golden opportunity—or a costly mistake—depending on how prepared you are. In the Lake Marion area, “as-is” listings often draw attention due to their lower upfront costs or fixer-upper potential. But what exactly does “as-is” mean, and what should you look for—especially when an inspection is involved?In this article, we break down the...
Escrow is a secure financial arrangement where a third party holds funds for property taxes and homeowner’s insurance on behalf of the mortgage lender. It's designed to ensure those bills are paid on time and protects both the lender and the homeowner. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image...
No, a purchase agreement is not the same as an offer. An offer is a proposal made by a buyer to purchase a property under specific terms, while a purchase agreement is the final, legally binding contract that results once the buyer’s offer is accepted by the seller. Both are critical stages in the real estate transaction—but they are not interchangeable. /*! elementor - v3.23.0 - 15-07-2024...
Buying a lake house is about more than just stunning views. You need to look at the property’s water access, flood risk, maintenance demands, neighborhood rules, and more. Whether you want a weekend retreat or a full-time residence, this guide shows you exactly what to consider before making one of the biggest—and most rewarding—purchases of your life. /*! elementor - v3.23.0 - 15-07-2024...
A VA loan cannot be used to buy land alone unless you plan to build a home on it right away. The VA loan benefit is designed to help veterans and active-duty service members buy, build, or refinance a primary residence—not vacant land for future use. But with the right plan, you can use a VA loan to buy land and build a home in a single transaction. /*! elementor - v3.23.0 - 15-07-2024...
The best type of loan for a house depends on your financial situation, credit score, down payment, and homeownership goals. Most buyers choose from four main options: Conventional, FHA, VA, or USDA loans. Each has unique benefits and requirements—so knowing which one fits your needs is key to buying confidently, especially in markets like Lake Marion, SC. /*! elementor - v3.23.0 - 15-07-2024...
A construction loan is a short-term loan that covers the cost of building a new home from the ground up. Unlike traditional mortgages, construction loans release funds in stages—called "draws"—as work progresses. Once construction is complete, the loan is either paid off or converted into a permanent mortgage. If you’re building your dream home near Lake Marion, understanding how construction loans...
A fixed-rate mortgage keeps your interest rate and monthly payment the same for the life of the loan, while an adjustable-rate mortgage (ARM) starts with a lower rate that can change over time based on market conditions. Choosing the right option depends on how long you plan to stay in the home, your risk tolerance, and your financial goals—especially when buying in areas like Lake Marion, SC. /*!...