A title search is the process of reviewing public records to confirm a property’s legal ownership and to uncover any issues — like liens, unpaid taxes, easements, or ownership disputes — that could affect the sale.In South Carolina, every real estate closing must be handled by an attorney. As part of that process, the attorney (or a title company working with them) conducts a title search to ensure...
Waterfront homes
Yes — in fact, the home inspection is one of the most common times to negotiate in real estate.After an inspection, buyers can:Request repairs from the sellerAsk for credits toward closing costsNegotiate a reduced purchase priceOr, in some cases, walk away if the issues are too big /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image...
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...
The short answer: you can buy a house with a credit score as low as 580 for some loans, but most buyers need at least 620–640 to qualify comfortably.FHA loans: Minimum score of 580 (with 3.5% down)VA loans: No set minimum, but lenders usually want 620+Conventional loans: Typically require 620 or higherBest rates: Credit scores 740+ give access to the lowest interest rates /*! elementor - v3.23.0 -...
When you buy a house, the purchase price is only part of the expense. Hidden fees are extra costs that often catch buyers off guard, like closing costs, inspections, taxes, and insurance premiums.On average, buyers in South Carolina spend 2–5% of the purchase price in closing fees alone, which can add up to thousands of dollars. For Lake Marion buyers, where waterfront and resort-style homes are common,...
An Earnest Money Deposit (EMD) is a good faith payment made by a homebuyer when they sign a purchase agreement. It shows the seller they’re serious about buying the property.In South Carolina — including hot markets like Lake Marion, Santee, and Eutawville — an EMD is typically 1–3% of the home’s purchase price, but the amount is negotiable. The money is held in a trust or escrow account until...
Specific performance is a legal remedy in real estate where a court orders one party to carry out their obligations under a contract — usually the sale or purchase of a property. In other words, if someone backs out of a signed real estate deal, the other party can sue to force them to complete it. /*! elementor - v3.23.0 - 15-07-2024...
Due diligence in real estate is the period of time after a contract is signed when the buyer investigates the property before fully committing to the purchase. During this time, the buyer can inspect the home, research the title, confirm financing, and ultimately decide whether to move forward or back out. /*! elementor - v3.23.0 - 15-07-2024...
A disclosure statement in real estate is a legal document where the seller lists known issues or defects with the property. It helps protect buyers from surprise problems and protects sellers from legal claims after the sale.In South Carolina, sellers are required to complete a Residential Property Condition Disclosure Statement unless the property is exempt (like in estate or foreclosure sales). This form...
A contingency in real estate is a condition written into the purchase agreement that must be met before the sale can move forward. If the condition isn’t met, the buyer or seller may cancel the deal without penalty.Contingencies exist to protect both buyers and sellers. For example, a buyer might make an offer that’s contingent on securing financing or the home passing an inspection. Sellers,...