The quick rule of thumb: you can usually afford a mortgage payment that is 25–30% of your gross monthly income.Lenders in South Carolina use the debt-to-income ratio (DTI) to decide. Most allow a maximum DTI of 36–43%, meaning all your monthly debt payments (including your mortgage) shouldn’t exceed that percentage of your income. /*! elementor - v3.23.0 - 15-07-2024...
Real estate tips
The point of a Homeowners Association (HOA) is to maintain property values, manage shared amenities, and enforce neighborhood standards through rules (called covenants).Simply put, HOAs are designed to protect your investment by ensuring the neighborhood remains attractive, functional, and consistent — so one poorly maintained property doesn’t lower the value of every home around it. /*! elementor...
In South Carolina, “transfer tax” and “deed stamps” refer to the same closing cost — a government fee paid when real estate ownership changes hands. Officially, the state calls it the Deed Recording Fee, but you’ll hear locals, attorneys, and agents use terms like “deed stamps,” “documentary stamps,” or “transfer fee” interchangeably. /*! elementor - v3.23.0 - 15-07-2024...
In short: No, the option period and inspection period are not exactly the same — but they often overlap in function. In South Carolina, the term “inspection period” is more commonly used. In contrast, “option period” is a term mostly used in states like Texas.However, both refer to a timeframe early in the homebuying process when the buyer can inspect the property and potentially walk away from...
Dual agency occurs when one real estate agent (or brokerage) represents both the buyer and the seller in the same real estate transaction. Instead of each side having their own agent, one party handles both.In South Carolina, dual agency is legal — but only with written, informed consent from both parties.While it may sound convenient, dual agency raises serious questions about loyalty, negotiation...
Real estate covenants are legally binding promises written into property deeds that dictate how the land can or cannot be used. These rules often govern appearance, usage, and responsibilities—and they follow the land, not just the owner. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a...
Real property consists of land and anything permanently attached to it — like a house, garage, or dock. Personal property refers to movable items that aren’t permanently attached — like furniture, appliances, or décor.When buying or selling a home near Lake Marion, knowing what’s included in the sale — and what’s not — can prevent costly confusion. /*! elementor - v3.23.0 - 15-07-2024...
The Closing Disclosure is a five-page document that outlines the final terms of your mortgage loan, including all costs, fees, and payments due at closing. It’s designed to protect both buyers and sellers by providing a clear, detailed summary of the financial side of the transaction. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image...
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...
A title is your legal ownership right to a property, while a deed is the physical document that transfers that ownership from one person to another. You need both when buying or selling a home.Understanding the BasicsIn the world of real estate, the terms deed and title are often used interchangeably—but they refer to very different concepts. /*! elementor - v3.23.0 - 15-07-2024...