If you are looking to buy real estate in Greenville County, there is an indispensable tool available online that will allow anyone to view what a property sold for in the past. Not all sales are there, but many are. For homebuyers, knowing what a seller paid can provide leverage and insight.
Check out the Greenville County Real Estate Search feature at GreenvilleCounty.org!
I wanted to relay to you a quick story I recently heard about a real-life real estate horror story right here in Greenville South Carolina. I’ll make it short and sweet, but make sure what I’m about to tell you sticks with you when it’s time for you to buy your new home.
When I say new home, I mean, a newly constructed homes that has never had anyone living in it before. That sounds pretty safe, not needing an inspection, correct? Maybe not.
In 2006 there were over 4000 building permits issued in Greenville County for new home construction. That’s a lot of new homes that people are moving into. If you don’t already have a buyer’s agent and you are looking to move into a new home, stop right here and get yourself a buyer’s agent. I wouldn’t go so far as to say that when you’re buying a new home direct way from the builder, having a buyer’s agent is probably more important than it is. When you’re buying an existing home. Anyway, many people opt not to get a brand-new construction inspected prior to purchase. I am here to tell you that I think this is a bad idea. It is very important that you get your home inspected before purchasing, whether it’s 30 years old or brand-new.
In a particular story, I recently heard, a buyer here in Greenville, bought a new home and waved their right to get it inspected prior to purchase. They few months later, they noticed that there were foundation problems. When all was said and done the repair bill was over $30,000. Granted, they may have been able to get someone else such as the builder to pay this cost, but they still had to leave their home while the repairs were done. Spending that small investment it takes to get a home inspection done is one of the smartest things you can do.
Another story I heard about new home construction was one where the drainage for the sewer system was not connected to the city water system. Want to know where all of their sewage, what? Right under the house. They smelled it pretty fast. So when you go to buy that new home, keep these horror stories and mine and make the small investment to get your home inspected. And like I said, if you don’t have buyer’s representation and you’re looking to buy a new home, please get an agent. We would love the opportunity to serve you, so please give us consideration.
This article will cover four ways you as a buyer can save money. Read on!
1. Know your credit history and score. The higher your credit score the better your loan will be. You want to take care of any negative items on your credit report a few months prior to purchasing so those items will be cleared by the time you purchase. On a 30 year fixed mortgage the difference between a 6% and 6.5% on a $300,000 dollar loan is almost 100 dollars per month. This means you could be paying almost 36,000 dollars more interest over the life of your loan. Simple steps like not doing minor credit repairs can and will cost you big over the life of your loan.
2. You need to calculate in what your taxes and insurance will cost as well as your mortgage payment. Many people hear a number from there mortgage broker and are caught off guard when they find out their monthly payment is actually $100 dollars or more higher then quoted. This is because mortgage brokers typically quote you a principal and interest payment. Make sure you ask your lender to include taxes and insurance in all quotes, even if they have to estimate. This will get you a better estimate on your true monthly payments.
3. You can negotiate a better interest rate. You need to shop around with multiple lenders in your area. You should treat finding a lender like you do finding a car. While many of the dealerships have similar cars for similar prices you want to find the best car for the best price. Lenders have similar loans for similar prices and you want to find the best loan for the best price. Don’t be afraid to ask for a lower interest rate.
4. Have your lender prepare a good faith estimate for you. You should look over that form for hidden fees. Mortgage brokers are required to disclose every fee they charge you and it is illegal for them to add fees at or just before closing. You should go over your good faith estimate with a fine tooth combo looking for junk fees. Every fee on that form is negotiable!
This article was contributed by Southern Utah Real Estate and Cedar City Real Estate Agent.
By Nu Home Source Realty - Fort Worth Tx Real Estate
If you are searching for a home there are many ways that you can get started. The more that you know about this process the better off you will actually be when it comes to finding your dream home. This is not to say that you are guaranteed of anything, but at the very least you should be able to get some ideas as to what is available. When searching for a home you will most definitely want to use the internet to your advantage. Many years ago this may not have been possible, but in today’s day and age the internet has a lot to offer.
The best thing about searching for a home online is that you never have to leave your home. Why would you want to drive around searching for a home that you do not even know exists? Instead, you could be searching for a home online and finding property after property. Sure, you will still have to go out and see a home in person once you find one that you like, but by starting your search online you will be able to cut out a lot of stress and wasted time.
Another reason for searching for a home online is that you will lower your chances of missing out on something that really suits your needs. So many people make the mistake of searching for a home by driving around, and in turn they miss out on properties that they would really like. This is not to say that your only option is the internet, but you should at least use it to supplement your other methods. The fact of the matter is that by searching for a home online you will lower your chances of making a mistake. And when buying a home this is something that you will most definitely want to do.
Overall, using the internet to find a home is a great idea. This will give you the ability to find several properties that suit your needs without having to leave your computer. Searching for a home has never been easier. Why not use the internet to your advantage? The bottom line is that this method cannot hurt you, it can only help!
Thanks for the article, Mike!