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Broker Spotlight | HUD Articles | K.M. Minemier & Associates
K.M. Minemier & Associates is a certified Woman Owned Small Business (WOSB) engaged in full service real estate asset management and marketing.

HUD Articles

Broker Spotlight

September 21, 2016

According to several credible sources, the Charleston, SC Real Estate market is experiencing a shortage of homes that are available for purchase. This, combined with the local economic upturn and the fact that people from all over the United States are choosing to call Charleston home, has created the necessity to have your home buying strategy finely tuned.

Preparation is the key here.

A Real Estate transaction follows a clearly definable path with logical steps. Each step allows a buyer to proceed to the next with confidence and purpose. If a step is taken out of sequence, this opens the transaction and buyer up to what could best be described as a log jam.  Just like a log jam in a river, it is easier to do each step in order keeping the process flowing smoothly. Should one step turn sideways, then the entire project can come to a screeching halt.
Not only will you see the stoppage, you will also experience the confusion and tension that comes with trying to coordinate several frustrated people. People who are trying to complete their own service in order to close the deal.

Believe me, trying to explain why things have backed up is much more difficult than herding cats.  In order to assure a smooth and pleasant home buying experience, you will need to find a good Real Estate agent and a good loan officer. These two individuals are the cornerstones that you will need to rely on.

Your first step will be to meet with your lender and ask for a Pre-approval letter. Be sure to ask about different loan types that may be available to you. Make sure that you are truthful and include everything that may be relevant, as the lender will be reviewing your credit.

Once you have a pre-approval letter, contact your agent and meet to discuss your needs and wants. This will be beneficial in many ways.  During your visit you both need to talk about expectations. Talk about your needs and wants. These two items are similar but quite different. A need is something that is a potential deal breaker. An example of this may be that a home is located in a certain school district or have a minimum bedroom count. Wants, on the other hand, are things that are desirable, but you could live without. A fireplace or in-ground pool may be on this list. Be sure that your agent has a list of needs and wants. This will make the identification of available homes easier and will keep you from looking at homes that do not measure up to your expectations.

During this step, be sure that you are lining up a closing attorney, a good home inspector and a vendor that can provide a termite inspection. Here is South Carolina, termites are very common. The old saying is, “it’s not if you will have termites, but when”.   Here is a tip that you may not have thought of. Always have inspections done by cost.

An 85 dollar termite inspection may save you from paying for a 350 or 400 dollar home inspection.

From this point, you will need to stay in contact with your agent. He/she will be the central hub coordinating the closing, appraisal and inspections.  All during this process, be sure to avoid incurring any more debt or open any accounts that impact your credit score. It is common to have a lender re pull credit just prior to closing. Let’s not have any last minute surprises.  The time to buy furniture etc. is after the closing.  Staying in contact with your lender and agent will make the process much smoother.

Remember, preparation goes a long way towards an enjoyable home purchase.

Contact Southern Breezes Real Estate at 843-225-8890 or email Janet@SouthernBreezesRealEstate.com.  Our Office is located at 3262 Landmark Dr Ste 101N. Charleston, SC 29418.


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