Category Archives: Buying a home

Real Estate Myrtle Beach

7 Mistakes Millennials Make When Buying A Home

Real Estate Myrtle BeachMillennials– they’re the generation between 18 and 35; the new young experts; the current grads, and they’re also entering into the real estate market in droves. Typically, they’re newbie property buyers, which means that they have the prospective to make mistakes in the home-purchasing process.

Here are the leading seven blunders millennials make when they acquire a new home.

It doesn’t matter if you are a part of this generation or you simply want to make your home search successful, these suggestions will help you to obtain your dream home.

Blunder # 1: Not Getting Pre-Approved

Your search for a new home should never start with searching for listings online. If you’re serious about purchasing a new home, start by meeting with a mortgage provider. Although that appears in reverse to several newbie homebuyers (“Why would I speak to someone concerning getting money for a house I have not located yet?!”) it will help you in the future.

When you get pre-approved for a home loan, it implies you have actually met a lender and also showed them your credit report, financial debt, income, and possessions in order to offer an image of your finances. With that information, they will prepare a pre-approval letter– something that tells you what you potentially qualified for, however isn’t an assurance of a loan. Myrtle Beach real estate agents look for a pre-approval letter when working with you since it shows you’ve done your homework and you recognize your spending range. Sellers take into consideration a pre-approval letter with every offer because they recognize there’s a much better chance of you actually getting the home loan to buy the residence.

Blunder # 2: Not Working with A Real estate agent

In the age where you can acquire virtually anything on-line, lots of millennials think that they could acquire a house through an on-line listing company. They look at Zillow, Realtors.com, and Trulia, discover the perfect residence, and also call the listing agent.

Stop right there. This isn’t to insinuate that looking online isn’t a wonderful suggestion to see exactly what sort of residences are listed in your price range. Actually, it’s a superb method to be prepared to seek the sort of home that’s in your spending plan, consisting of size and location. Nevertheless, if you think you can do all your house buying by yourself with the internet, think again.

When shopping for houses on online, you’re not truly obtaining the full image or bottom line price. The house may have smells, creaks, or sights that you’re not seeing while taking a look at the images on the listing. Not only that, if you’re interested in a residence and connect to the listing agent, they’re not going to have your best interests in mind. They’re legitimately bound to the seller, so you could not get the very best deal. That’s why it’s very important to first talk to a home loan lender to see just how much you could manage, and afterwards collaborate with a real estate professional, like Full Potential Real Estate, who can help you avoid paying lavish amounts of cash and also walk you through different choices of residences that are within your price range.

Error # 3: Getting Even more Home Than You Could Manage

While looking online for a home, another blunder millennials make is checking out the projected home loan repayment as well as thinking, “Hey, I could pay for that!”

Lot of times, the monthly home mortgage price on the listing does not take into consideration insurance coverage, taxes, HOA costs, Personal Home mortgage Insurance policy if your deposit is less than 20%, or other energies and also upkeep expenses. Getting a house price is a lot more than the dollar amount detailed there– it’s costly as well as if you wind up buying more residence than you can manage, you run the risk of coming to be “house poor” swiftly. That indicates you pay even more cash month-to-month for a house compared to you could fairly afford.

Lots of mortgage lending institutions will pre-approve you for a home loan that’s much more than you really can pay for on a month-to-month basis. You can’t rely upon them to give you with an accurate quantity of money that you’ll be spending every month on your residence. You need to do the research on your own. Take a look at just how much cash you spend on food as well as transport. After that, take a look at just how much you’d be investing in insurance policy, tax obligations, closing costs, and maintenance. Include a bit for financial savings, just in case, and you have a better image of your spending plan each month. If you could pay for everything that enters into a home, you’re ready to acquire. If not, you may should start taking a look at homes in a lower price range.

Error # 4: Not Looking for A Home loan

When you find a home, make an offer, and start the closing process, you should look around for a home mortgage. Numerous newbie property buyers think that they need to go with the lender that gave them their pre-approval letter. Not so! You could shop around for the best rate of interest and also terms that fit with you as well as your budget. In fact, not shopping around for a mortgage can end up costing you countless dollars in interest.

Error # 5: Not Attending A Residence Assessment

This is one of the greatest blunders you can make when purchasing a house. If there’s one point you taken from this short article, let it be this: participate in the home evaluation. Do not let your real estate professional go without you to evaluate the assessment. Do not send your mother or brother or second cousin on the home assessment. Take the time and walk through the home with the house inspector. Actually, make certain you’re involved with the entire process, including employing your very own personally vetted assessor, walking through the residence with the inspector, asking them inquiries about the state of the house, as well as lastly reading the assessment report.

Why is this such a sticking point? A home’s worth isn’t almost the property it sits on– it’s also the state of the appliances, systems, as well as foundation that makes up the home. If the roofing is failing, you’re most likely to end up spending significant amounts of cash on it earlier rather than later on. If the heat pump does not work properly, you’re going to have to shell out a great deal of money to change that. You need to be informed regarding just what you’re getting yourself into when you buy a house; just what prices you can expect in the future and exactly what components of the residence should be repaired or changed by the seller (or the price reduced) prior to you go through with a sale.

As a side-note, if your real estate agent informs you a house guarantee will cover most of the issues in the house assessment, they are misinformed. A lot of home warranty companies will not fix or change broken-down systems that were falling short in a home evaluation. If there’s something incorrect, get it repaired prior to you acquire!

Error # 6: Not Obtaining A Residence Warranty

That being said, you’re not likely to discover a residence in absolute excellent condition, specifically if it’s not a recently constructed home. Homes wear out as well as break down. Make sure to request a residence warranty throughout closing. Although it isn’t likely to cover every item, it can supply significant financial savings for new individuals when something falls short from typical wear and tear, and it will. Some home warranties cover for lack of maintenance, corrosion, or debris in hot water heater– all traits that might not be located with a house inspection yet could create systems problems and home appliances to fail. This is when you will be glad you had a home guarantee– you don’t need to spend hard earned money to replace something when the seller didn’t maintain the system appropriately. It’s a good fail-safe.

Error # 7: Not Factoring In Resale Value

Ultimately, when you acquire a home, think about the resale value. Unless you are a millennial who has a whole lot more money compared to the rest of us and can afford to get your dream residence in the initial go around, the chances are that you’ll be listing it sooner rather than later. Look for something that can increase equity (you could obtain new carpets, wood floors, or granite counter tops) and that will certainly appreciate in time (the area is up and also coming, brand-new stores and also dining establishments are appearing around it). Guarantee that when you get, the cost will rise over time, so you could sell it for a greater profit than the amount you purchased.

There you have it, seven errors you could currently combat as you purchase a home for the very first time. Use these tips to guarantee your home-buying encounter goes as efficiently as possible!

Always consult with a Myrtle Beach Real Estate agent before making an offer on a new home. You can save thousands of dollars down the road. Contact Full Potential Real Estate for a no obligation consultation.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

Myrtle Beach Real Estate

Real Estate Market Reaches Equilibrium between Buyers and Sellers

Myrtle Beach Real EstateThree months ago, the “Current Market Conditions” survey showed that overall the U.S. housing market was displaying a rare balance between buyer demand and seller supply for the first time in eight years. The latest quarterly survey shows that equilibrium has been achieved —  41% of real estate agents said more buyers than sellers; 40% said there were more sellers than buyers, and 19% reported a 50-50 balance.

Most notable exceptions are in the Northeast, Chicago metro area, and in the Western states. (See Second Quarter chart.) Home buyers outnumber sellers by considerable margins in Chicago and the West, while sellers outnumber buyers in the Northeast.

Additional proof of a balanced nationwide housing market between buyers and sellers was reported by the National Association of Realtors, which estimated a 6.5 month supply of unsold homes in its May report. An inventory supply of 5.5 to 6.0 months is considered balanced.

The second quarter national survey also found:

  • Fifty-six percent of real estate agents said it is now on average, taking more than 60 days from listing to contract to sell a house. This is up from 55% in the first quarter and 35% a year ago. Twenty- eight percent said it is taking more than 90 days to contract.  Only 15% of existing homes for sale are selling in 30 days or less.
  • Housing inventories are continuing to increase: 86% now report a good supply of homes in virtually all price ranges. This is up from 81% in the first quarter and 38% a year ago.
  • Sixty-six percent of member agents reported that annual home price appreciation is now five percent or less. This is down from 8-10% a year ago. Home price appreciation of more than 10% is now 16%, on average.
  • The percentage of home sellers getting 95% or more of asking prices is currently 68%, compared to 90% a year ago. Three months ago it was 75%.
  • Multiple offers from home buyers are also down substantially. Currently, the estimate is 32%.  It was  39% in the first quarter and 70% a year ago.
  • First-time buyers still account for one of three homes for sale nationally. Repeat and move-up buyers are most active in higher priced real estate markets. Recent home price appreciation and rising mortgage rates & interest rates have had only a minimal negative effect on first-time buyers, on average. Exceptions are marginal qualifiers.

“We welcome a balanced, more orderly marketplace for both the consumer and real estate professionals,” said Michael Bearden, president and CEO of HouseHunt, Inc. “Double-digit price appreciation is simply not sustainable for a multi-year period and will eventually drive away entry level buyers.“

Second Quarter Current Market Conditions Survey:   Regional Results

U.S.   South  Midwest    Northeast    West     California*     Chicago*

More Buyers

41%    40%     49%         30%          47%       39%              50%

More Sellers

40%    44%     30%         50%          34%       41%              19%

50-50

19%    16%     21%         20%           19%        20%            31%

Time on Market:

0-60 days

44%   35%     31%         48%           49%        49%              35%

More than 60 days

56%    65%     69%         51%                51%        51%              65%

Sale vs. Ask Price:

90-95%

35%    35%     29%         37%                26%        29%              34%

95% -100% Plus

65%    65%     71%         63%          74%        71%              66%

Annual Appreciation:

5% or less

66%     57%     70%        73%                65%              75%                     61%

5-10%

18%    30%       20%                   19%         15%          11%              31%

 

More than 10%

16%    13%       10%                     8%                20%                14%                     8%

Inventory:

Good Supply

86%     86%     90%         96%              83%                 90%                    92%

Limited Supply

14%     14%     10%           4%             17%                  10%                     8%

Multiple offers:

Yes

32%     35%     33%           34%      32%          18%                     55%

No

68%      65%     67%          66%              68%               82%                     45%

Activity:

First Time Buyers

33%     34%      41%                     47%       42%           44%                    35%

Move-Up & Repeat

67%    66%      59%         53%              58%                 56%                     65%

 

*California survey percentages are included in both U.S. and West  results.

**Chicago Metro survey percentages are included in both .U.S. and Midwest results.

Full Potential Real Estate keeps an eye on the trends. Call us today for specifics on what is happening in the Myrtle Beach area.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

Real Estate Financing Myrtle Beach

Qualifying For Real Estate Financing

Real Estate Financing Myrtle BeachMost people do not have hundreds of thousands of dollars sitting around. Consequently, most people need to obtain real estate financing in order to purchase a house. Unfortunately, buying a house is complicated by itself. Real estate financing is an entire world all together.

When applying for real estate financing, it pays to have a handle on your own money and credit situation. The very first thing you must do is to obtain a copy of your credit report with credit scores. Having poor credit doesn’t necessarily disqualify you from obtaining real estate financing. However, you need to know where you stand so you can proceed the correct way. If you have reasonably good credit, which means that you haven’t been more than 30 days late on one or two of your bills in the past year, you have a good shot at being approved for a conventional or a government (FHA) mortgage. These mortgages will afford you the lowest rates, fees, and payments. The higher your credit score, the better the terms you will receive.

If you have some minor blemishes on your credit, such as a couple of 60-day late payments and a collection or two, you might still be able to qualify for a conventional mortgage, but it will require a lot of explaining. More likely, you will qualify for a “sub-prime” mortgage. Sub-prime real estate lenders take on more risk because they specialize in lending to people with challenged credit. Because of the increased risk, they charge higher rates and fees. This translates into higher payments, more cash out of your pocket, and having to purchase a more affordable home.

If you have major blemishes on your credit, qualifying for real estate financing will be more difficult, but not impossible. A bankruptcy, for example, will disqualify you from a conventional mortgage if the bankruptcy has been discharged for less than two years. However, even with a recent bankruptcy, you can still qualify for sub prime real estate financing. If your bankruptcy has been discharged for more than two years and you have rebuilt your credit during those two years, you can qualify for a conventional mortgage. Even with a bankruptcy, you can obtain a mortgage at the same rates and fees as someone who has had absolutely pristine credit their entire lives. Once you have a handle on your credit, you can apply for a mortgage and have a reasonable confidence that you’ll be approved.

You should get a pre-approval for a mortgage before you shop for a house. By doing so, you’ll know exactly how much real estate you can afford so you’re not wasting your time shopping outside of your price range. You will also have a better chance of having your offer accepted by the seller and can greatly shorten the entire home buying process.

Once you have your financing approved, you are ready to start looking for your dream home. Give Full Potential Real Estate a call to put that dream in motion. We have worked with buyers in North and South Carolina to find their dream home.

Al Cardillo

Cheryl from Full Potential Real Estate has been more than helpful to us. We are looking to relocate from 3 states away which is not an easy task. Cheryl has taken the time to be our eyes and ears and take us on virtual tours of homes we have been interested in. We would definitely recommend Cheryl to anyone interested in purchasing real estate in the Myrtle Beach and surrounding areas.

 

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

 

Real Estate Myrtle Beach

Two Crucial Steps Before You Buy Real Estate in Myrtle Beach

Real Estate Myrtle BeachTo buy real estate is the largest single purchase most people will make in their lifetime. When you commit to buy real estate in Myrtle Beach, you should be as educated about the process as possible. It pays to be cautious, yet proactive. A single mistake in the process to buy real estate can cost thousands, if not hundreds of thousands of dollars.

One of the best things you can do when you buy real estate is to select a good real estate agent. A real estate agent will not cost you any money up front, as he or she is paid by the seller out of the proceeds of the sale. The services that a good real estate agent provides are priceless. It would be a mistake to try to purchase a home by yourself without representation. To try to save a 4% commission and use it to save 4% on the purchase price of a house is a foolish strategy some people play. If you have little or no experience in the real estate field, the results can be catastrophic. Purchasing a home involves a lot of complicated rules, contracts, disclosures, and other minutiae that the average person just doesn’t have the time or experience to navigate.

Better yet, find a good buyer’s agent, like Cheryl Woodward with Full Potential Real Estate, when looking to buy real estate. An exclusive buyer’s agent represents only buyers and never the seller. By selecting an exclusive buyer’s agent, he or she will make sure that your interests are protected. When purchasing a home, you can expect the process to have a hiccup somewhere down the line. To have a smooth purchasing experience from beginning to end is the exception rather than the norm. An exclusive buyer’s agent will help you get through these problems, as well as dispense advice so that you can make a good decision when the process takes a bad turn.

When you have your agent selected, you should select a good mortgage company before you buy real estate. Select a mortgage company separately from your real estate agent. Some agencies have in-house mortgage companies and other related services. Be wary. The best financing terms to buy real estate can be found on your own without the help of your agent or his brokerage. Shop around for a mortgage company and pay special attention to the fees being charged, not just the interest rate. The best mortgage will have the most advantageous combination of rates and fees, coupled with good service throughout the life of the loan. Before you make an offer to buy real estate, have a pre-approval in-hand. Not only will you gain leverage for negotiating the terms of the purchase, but you will also shorten the lending process dramatically by handling many of the details up-front.

Full Potential Real Estate agents are also real estate brokers which means they have the professional know-how to get you the very best deal on your dream home. Call us today for a no-obligation consultation to discuss your new home on the Grand Strand.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

buying and selling home Myrtle Beach

Helpful Tips In Buying And Selling A Myrtle Beach Home

buying and selling home Myrtle BeachThere are lots of homes for sale that you can buy and flip to earn extra money. Even though it is currently a buyer’s market and considering the market has stabilized, many experts believe real estate investors can still make profit from buying and selling houses. The key to successfully buying and selling homes regardless of the state of the market or the price range of similar houses in the same area is being extra careful and vigilant.

It also helps to learn and follow some useful tips in buying and selling Myrtle Beach homes. If you are considering entering the real estate industry and start to buy and sell homes to make extra profit, here are some tips that can help you succeed.

  1. Invest in repair tools and equipment. If you see yourself buying and selling homes for a long time, you should consider investing in home repair tools and equipment as well as learning basic home repair skills. This will help you save money on contractor costs, especially if you plan on buying fixer-uppers. With the right tools and necessary skills, you can buy an affordable house and make some repairs to bring up the price and make it look more appealing to your target buyers on your own. As a result, you can quickly sell the house at a higher price and instantly get your profits.
  1. Spend a lot of time on research. Many real estate experts believe that it is extremely important to learn everything about available homes for sale. If you know the house you are planning to buy, you are more likely to sell it quickly and more effectively. Moreover, before buying a house regardless of whether through a short sale or not, it is important that you know the house inside and out so you know who to market it to. Targeting the right buyers is also one of the keys in effective buying and selling of real estate properties.
  1. Opt for a house in foreclosure or short sale. If you want to earn more, you should opt to buy and sell a house that is in foreclosure or offered via a short sale. In today’s market there are fewer foreclosures and short sales but they are still available. The only thing you have to worry about is how you can make the home buying process easier and faster. You can do so by working with a real estate agent in Myrtle Beach. Make sure that you work with a real estate agent who has years of experience in this specific type of real estate transaction. Full Potential Real Estate has years of experience buying and selling homes in foreclosure as well as in short sale transactions.
  1. Always think that home prices will not easily increase in a couple of months. Most often, home prices do not easily or quickly increase from the time you bought a house by the time you put it back in the market. Thus, if you want to quickly sell the house as soon as you bought it, do not expect to receive high profit if you are not going to make some improvements to the house. Think of the money you spent improving the house as part of your investment. If you target the right buyers, you will be able to easily sell the house at a higher price and earn your profits.

Call Cheryl Woodward today if you are looking to work with a reputable and experienced real estate agent in the Myrtle Beach area.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

 

 

Myrtle Beach Real Estate

Myrtle Beach Real Estate Tips In Negotiating A Home Purchase

Myrtle Beach Real EstateWhen venturing into Myrtle Beach real estate, one of the difficult and tricky processes is the home purchase negotiation. This is where home buyers often feel buyers’ remorse thinking if they paid less or over paid on the house they purchased. Home buyers may feel this right after negotiating or even after years of living in the house.

As a home buyer, it is important for you to learn how to effectively negotiate the purchase price of the house you are considering buying. This will help you buy the house at the price that will benefit both you and the seller. Plus, it will help prevent you from overpaying on the house.

To be sure you did great at the home purchase negotiation and to ensure that you buy the house at the price that you want, consider the following tips:

It’s okay to lose a house

When looking for a house to buy, buyers often get attached to the house because of its location, design or amenities. And when this happens, buyers find it difficult to let go of the house if the seller rejects their purchase proposal or if they did not agree on the negotiation purchase.

What buyers should always remember is that there are lots of houses for sale in the Myrtle Beach area. If you did not agree with the seller in the negotiation, it’s alright to walk away and move on to the next house on your list. Do not spend any more time negotiating if you think the seller has no plans to negotiate with you. Aside from losing time, you will also be bound to lose money because you are sure to end up agreeing with the seller’s price and overpaying on the house. All because you cannot let go of the house as you have become attached to it.

Do your research

Before deciding on a price to offer the seller, you will want to spend time researching how similar homes have sold for in recent months. For more accurate results, check on houses similar and near to the one you are considering buying that were sold in the past three to six months. You want the most recent data to help you determine the best price is to offer to the seller. Chances are that the seller also did the same research to come up with a selling price to negotiate with potential buyers. As a result, it will not be difficult for both of you to come to an agreement.

Set your price range

After looking at the prices that nearby similar homes have sold for in the previous months, set a price range considering the asking price of the house you are considering buying. According to many Myrtle Beach real estate professionals, this will effectively prevent you from overpaying on the house and will help you buy the house at a lower price.

Start the home purchase negotiation by making your first offer which is the lowest amount that you have set in your price range. If the seller is not too eager to sell the house, he will make a counter offer that is closer to the asking price. On the other hand, if the seller is looking to sell the house quickly, chances are he will agree to your first or second offer and you end up buying the house at your price.

Set a date when your purchase offer will end

As you make your first offer, it will help your cause if you let the seller know how long your offer will last. This will prompt the seller to consider your offer right then and prevent him from considering offers and proposals from other potential buyers.

Real estate professionals in Myrtle Beach highly recommend having the seller give you a response in 1 to 2 days. This will not only start the negotiations quickly and on the right track but will also help you get a better price on the house you are considering buying.

Include other purchase fees when negotiating with the seller

Remember that there are other fees that you will have to pay for aside from the purchase price of the house. These include transfer taxes, appraisals, repairs, homeowners’ fees, etc. You can opt to include these when negotiating with the seller to further get a better price on the house.

Aside from splitting the cost with the seller, you can also have the seller pay for the fees that may cause to increase the purchase price. Otherwise, you can offer to pay for all these fees and have the seller pay you back in cash at the closing.

To further ensure a successful negotiation process, work with a licensed and experienced Myrtle Beach real estate agent. Call Cheryl Woodward today.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

Home Buying Tips Myrtle Beach

Best-Kept Home Buying Tips Revealed

Home Buying Tips Myrtle BeachMany first time homebuyers are looking for home buying tips to help guide them through the entire process of a home purchase. Buying a house is a huge decision to make as individuals. If this is your first time buying a house, you will need all the help that you can get. Keep in mind that a home purchase is an important financial investment and you want to make sure you are getting the most out of your money.

Here is some of the industry’s best-kept home buying tips to help you in your first home purchase.

Keep your credit profile clean and impressive

As soon as you have made up your mind that you want to buy a home, you will need to try and keep a clean and impressive credit record for at least three to six months before you apply for a mortgage loan. Note that lenders and banks will dig deep into your credit history to check and confirm that you are reliable and are financially able to apply and pay for a mortgage loan.

If you go about applying for new credit cards or additional loans or buy highly expensive merchandise, lenders and financial institutions might think twice about granting approval for your mortgage loan application. And you need to have a mortgage loan if you want to be able to buy a house without any financial constraints.

Get that approved mortgage loan first

One of the most common home buying tips given to first time homebuyers is to get pre-approved for a mortgage loan first before looking at houses. When you are pre-approved for a home loan, you will know how much money you can work with in buying a home. This basically makes the entire home buying process easier and more organized in two ways.

One, you will have a home buying budget that you can use when looking for houses to buy. Thus, you will not have to waste time and effort looking at houses that are way out of your budget. The other reason is that getting approved for a loan first will give you sufficient time in looking for the best interest rates and mortgage deals that suits your financial condition. As a result, you will be able to focus more on looking for a potential house to buy, getting to know the seller, and creating an irresistible proposal for the seller.

Have the property you are considering buying surveyed

This will help you identify the exact boundaries of the property that you are considering buying and prevent any future disputes with your neighbors. Plus, you will be able to easily determine how much property tax you will have to pay when you finally buy the house. According to industry experts, property tax is determined by the exact size of property. Enlist the help of Full Potental real estate professionals to help you arrange for the surveying of the property.

The best time to buy has nothing to do with the current housing market

Many real estate professionals believe that the housing market has its ups and downs and it will be difficult to determine the right time to buy a house. It is not easy to anticipate the housing market and predict whether it will go up or down.

This is why you should not wait for the time to buy. If you do this, you will end up with limited or zero time to buy that house. You will know when is the right time to buy when you have finally found a house to buy that not only is suitable to you and your family’s needs but also suits your home buying budget.

Do not forget about other buying costs

What most homebuyers – especially first time homebuyers – tend to forget is that there are other buying costs involved in a home purchase aside from the purchase price. These include homeowner association dues, utilities, moving costs and property taxes. And sometimes, homebuyers will also have to pay for repairs and maintenances during the first couple of months after they have moved in.

Note that when you go to visit a property that you are considering buying, it will look appealing and perfect for you. But when you have had the chance of living in it for a couple of weeks, this is when you will start to notice some repairs that were not obvious when you first visited the house.

It is important that you include these other expenses in your home buying budget. If possible, try to save some extra funds for emergency situations such as when the heater suddenly breaks down or when you realize windows need to be replaced.

Seek professional assistance to ensure a smooth home buying process. Call Full Potential Real Estate now to inquire about their services and learn more home buying tips.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

Homes For Sale Myrtle Beach

Helpful Tips In Buying Homes For Sale In Myrtle Beach

Homes For Sale Myrtle BeachBuying homes for sale Myrtle Beach can be a difficult and daunting task, especially if this is your first time to buy a home. This is also true for those homebuyers who choose to work alone. If there’s one tip that many industry experts would primarily offer, it is to work with a real estate professional, regardless of how many times you have bought a home in the past. Do not think about the added costs and expenses of hiring a real estate agent. Think about the savings – in terms of both time and money – that you can generate when you work with an experienced real estate agent.

And to further help you ensure a successful real estate purchase, here are some tips that you should consider following.

1. Conduct research on the history of the house you are considering buying.

It helps if you know something about the history and background of the house that you are buying. This helps you understand the price that it is offered and, thus, will allow you to efficiently and effectively negotiate the said price. If you are working alone, it could take you days before you finally get a hold of the background information that you need. But if you work with a real estate agent, they have connections that allow them to get the information on homes for sale Myrtle Beach more quickly.

2. Hire a professional to assist you with the home inspection.

Whatever type of house you are buying – whether brand new or a short sale – it is extremely important that you have the house fully inspected before you and the seller finalize the negotiation for the price. The primary reason for this is because you will have to include all the repairs and replacements that come up as a result of the overall inspection when negotiating the final purchase price with the seller.

Most often the seller pays for the repairs and replacements. Other times, the seller splits the costs with the buyer. Make sure you hire an experienced and licensed inspector so you can rest assured that the results will be legit and highly informative. The seller can also choose to have the house inspected again to verify and confirm the necessary repairs that came up from the first result. Note, however, that the costs of paying for the house inspection is shouldered by the buyer and seller.

3. Do not forget about the hidden costs of a real estate purchase.

Homebuyers should understand that there are other expenses they need to pay for aside from the actual purchase price of the house they are considering buying. This is true for all homes for sale in Myrtle Beach. These expenses include transfer fees, home and title insurance, mortgage costs and legal costs. And once you have moved in the house, you also have to pay for homeowners’ association fees and monthly utilities. An experienced real estate agent from Full Potential Real Estate, LLC will be able to provide you with a list of all the closing costs that you need to pay for before you and the seller close the purchase transaction.

4. Make time to check out the entirety of the neighborhood.

When buying a house, keep in mind that you are not only buying the house. You are also buying the neighborhood where your children will grow. Thus, it helps if you make time to check out the entirety of the neighborhood before finalizing the purchase price. You can do this by walking around the neighborhood during different days of the week and times of the day. As a result, you will be able to determine the busiest time of week and the nosiest time of day. Take time to speak with your future neighbors as well to get a better feel for the neighborhood and the house that you are buying.

Need professional assistance in negotiating homes for sale in Myrtle Beach, call Full Potential Real Estate, LLC now.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com