Real Estate Blog

real estate terms to learn before buying a home

When purchasing a home, you’ll encounter plenty of jargon. In real estate, terms like ratification and earnest money are discussed before you even make an offer on a home. Plus, mortgage lenders have their own language to discuss how you’ll be paying for the largest investment of your life. Although buying a home can be daunting, learning some of the most common terminology can help with each step of the process.

Earnest Money

When you make an offer to purchase, you’ll need to include an earnest money deposit as part of your written agreement to show the sellers that you are “earnest” in your intent to buy their home. The amount is typically 1-3% of the purchase price, so on a $200,000 home you can expect to pay roughly $2,000. This deposit will

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cons of lease to purchase homes

Many home buyers are eager to purchase a home because they understand that now is a good time to buy: prices are rising quickly, interest rates are low, and the inventory of homes for sale is shrinking. However, not all of these buyers who are willing to purchase are able to at the moment. Perhaps they have a home they need to sell in order to qualify for (or feel comfortable taking on) a mortgage. Or perhaps they need to save money for a down payment, work to improve their credit score, or wait for divorce paperwork to get settled. Although these home buyers want to purchase, a financial or personal setback delays their time frame by 6 to 12 months.

Buyers might consider lease to purchase homes because they seem like an ideal solution. In these

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low ball offer in real estate

If you’re looking to purchase a home in one of the few remaining buyers’ markets across the country, you should talk with your Realtor to see how far below listing price your initial offer should be. He/she will be able to pull comps for your market to determine how low of an offer you can negotiate.

However, most markets in the United States have done a full pendulum swing from the 2008 to 2012 downturn and are now very strong sellers’ markets. Charleston South Carolina is a great example for discussion. In real estate markets like Charleston, the best listings are going under contract within 24 or 48 hours of being listed. In higher price points or less demanded suburbs, this can take up to a week or two.

When sellers’ markets see such a low

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benefits of working with cash buyers

In a strong sellers’ market, home buyers are told again and again that they have the lower hand when it comes to making offers. However, cash buyers have the strongest negotiating power of any type of home buyer for several reasons. For these cash buyers, it’s still a sellers’ market – but with more advantages. And in a multiple offer situation, sellers might choose the cash buyer even if his offer price is lower because there are fewer unknowns (and fewer causes for the home to fall out of contract).

Financing is Not a Concern

In our current housing climate of stricter mortgage rules and escalating prices, financing is a very common reason that real estate deals fall apart. Even buyers who have a pre-approval letter in hand when they make an

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Selling real estate can be a tough job, and it’s much tougher when our clients don’t listen to the advice we offer. Whether you’re going to be buying or selling a home in the near future, please educate yourself on these suggestions we find ourselves making weekly!

For Home Buyers

what your realtor wishes you knew

The market is probably stronger than you think. Despite constant news headlines, social media articles, and blogs like this one, many buyers don’t realize just how strong our market is. Especially if they’re coming from another part of the state or country, it takes some time (and perhaps missed opportunities) before they’re brought up to speed. Brand new listings might require a full priced offer depending on the area or neighborhood. It’s important to have realistic

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ways to make a home feel larger

After showing literally thousands of homes, it’s easy to spot: sellers who have outgrown their home. Often, it was the first home they had ever bought. It was all they could afford at the time, and its 1200 square feet was enough.

Several years later (with perhaps a pet, spouse, or kid added to the household), they’re ready to sell their home and move up to a larger house. However, it’s obvious to real estate agents and even some home buyers that this house might not be big enough. Whether you’re selling a home with 600 or 2,000 square feet, you want the space to feel as big as possible. Here are some tips we’ve found to help maximize every room in your house!

Remove as Much Stuff from Each Room as Possible

Unless you’re a complete

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home selling deal killers

Some home features are subjective and could very well appeal to the right buyer. Worse case, they pose a problem with an easy solution. For example, a lime green accent wall will turn off most buyers but can be easily remedied with a bucket of paint. However, there are 5 deal killers I’ve found in the literally thousands of showings I’ve done that consistently put a halt in the showing. And it’s a shame because sometimes buyers really love the home until they discover the deal killer.

If you’re a seller, and you realize that one of these applies to you, don’t worry. We’ve also included solutions below to keep your showings from getting derailed:

Above Ground Pools and Hot Tubs Create Hassel

Although above ground pools and hot tubs can be fun,

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inexpensive home projects that add value

Homeowners often get emotionally and financially overwhelmed when they take on home improvement projects. Replacing flooring, cabinets, and kitchen appliances can cost thousands of dollars, and some sellers never recoup all of the money they spent when it comes time to sell their house. Whether you’re considering selling your home or simply want to get a good return on your investment, here are 7 inexpensive home projects that will add value to your home. And based on our 12 plus years in real estate, these suggestions should pay for themselves several times over!

Painting your front door, trim, and porch railings

Estimated cost: $50 should cover 2 cans of paint and brushes.

First impressions count – whether it’s potential buyers or guests.

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condos versus townhouses

Condos and townhouses are the most affordable options for buying real estate since developers can build more of these per acre compared to detached, single family houses. When we talk with home buyers, they’re often confused about the difference between condos and townhouses. We’ve included below some important distinctions between the two types of property along with a checklist that should help you choose which option is right for you!

Condos: The Lowest Maintenance Home Possible

Many buyers compare condos to apartment living because paying bills is all that’s required. By definition, condos have no individual land ownership associated with them. In other words, a homeowner would own the unit itself. All of the common areas have shared

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wando high school in mt pleasant

Wando consistently ranks as one of the top public high schools in tri-county Charleston. As the only high school in Mount Pleasant, Wando has the combined students from the area’s 9 elementary and 3 middle schools. With a current enrollment of 4,060 students, this is by far the largest high school in Charleston. Its 100 acre campus was developed in 2004, although new buildings have been constructed since then to accommodate the growing Mt. Pleasant population. Because of the school’s size, you’ll find an impressive offering of 250+ academic courses, artistic classes like Orchestra and Photography, after school clubs, and competitive athletics.

Wando’s Recent Academic Achievements

From 2015 to 2016, Wando High School was recognized for the

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