Frequently Asked Questions

I’m a first time home buyer. How much does it cost to work with a realtor? How are realtors paid?

Under the new NAR (National Association of Realtors) rules, buyer’s agents are often compensated through the commission split with the seller's agent. However, in the event that the sellers of the home you want to buy decide not to offer the buyer agent’s commission, buyers may be directly responsible for paying their agent’s fee. That being said, this circumstance is negotiable and you will always be notified (by me) before viewing a home whether or not they are offering to pay a buyer’s agent. This change aims to create more transparency in the process, allowing buyers to better understand the costs involved.

When both the buyer’s and sellers agent both earn their commission through the sale of home (as is often the case) - agents are paid by the seller from the sale of that home and the buyers and the sellers agent split that commission (typically around 5% to 6% of the sale price, though this percentage can vary). Commissions are only paid when a property successfully sells.

What are the first steps I need to take when buying a new home?

Before you can begin looking at homes, there’s a little bit of homework you’ll need to do. In order to understand how much house you can comfortably afford, you’ll need to get pre-approved by a mortgage lender. Most sellers won’t even look twice at a house offer unless you’re pre-approved, so it’s really a non-negotiable. You can talk to several different lenders to see if one can offer you better financing than another - or if you’d like recommendations we’d be happy to set you up with one of our trusted lenders. They will gather information from you and let you know what your budget range is. From there, they will give you a “pre-approval” letter which tells sellers that you have been approved by a lender and are ready to make a serious offer. Once you have your letter in hand, the fun of house hunting begins!

I’m considering moving to Camden/The Midlands/South Carolina. Can you tell me about “xyz”?

Absolutely! I am always happy to help you get your questions answered! Never hesitate to reach out. No question is too small. Also, be sure to check out our Free Guide to Camden, SC!

What other areas do you serve?

While I specialize in Camden, SC I also serve Elgin, Lugoff, Columbia and the surrounding Midlands!

The market is so expensive right now. Shouldn’t I wait before I move?

There’s no nice way to put it - today’s market is not an easy one. While it's true that interest rates and home prices are high, investing in the real estate market is still be a wise choice. Real estate has historically proven to be a solid long-term investment, offering potential for both equity growth and rental income. Even in a market with high prices, your investment can appreciate over time, providing financial security and potential tax benefits. Additionally, interest rates will always fluctuate, which means you’re not stuck with the rate you start with. You can always refinance down the line to take advantage of lower rates, but without the bidding war that it creates in the market. So, don't let short-term fluctuations deter you from exploring the opportunities the real estate market has to offer; it can still be a path to financial stability and prosperity! Another thing to note is that in a buyer’s market like what we have currently, you as the buyer hold a LOT more negotiating power, which is a huge benefit to you when purchasing a home.

How do I sell and buy at the same time? I don’t want to end up homeless!

I don’t blame you! Buying and selling at the same time is a delicate dance. But no worries - a good realtor will never leave you out to dry. Our job is to do our best to make sure that you are well protected as possible when it comes to the transition between your old home and your new one. Typically, you’ll start the process of listing your current home first and your agent will help align the timing of both deals. It’s common to make an offer that’s contingent on the sale of your old home, so you won’t be stuck purchasing a new home without selling your old one. Worst case scenario you can arrange temporary housing if your old home sells first or an unexpected delay happens. Once everything aligns, both deals can close and you’ll be on your way!

How much do I need to pay out of pocket when buying a home? What fees are involved?

When purchasing a home, you'll need to budget for several out-of-pocket expenses. The most significant is the down payment, which typically ranges from 3% to 20% of the total purchase price (keeping in mind there’s also down payment assistance programs which can bring that number to $0). Next, you'll encounter closing costs, which include fees like lender charges, title insurance, and escrow fees, usually totaling 2% to 5% of the home's price. These can also be worked into the home offer and paid for by the seller depending on the situation. The other costs you’ll want to be prepared for are a home inspection (up to $500) and earnest money deposit (1-3% of the sales price). These costs can vary, but your real estate agent and lender will help give you an accurate estimate based on your specific situation.

How long does it take to buy or sell a home?

The timeline for buying or selling a home can vary, but it typically takes 30 to 90 days. Market conditions, financing approval, home search duration, negotiations, and legal requirements all play a role. The buyer's and seller's motivation can also impact the timeline. We are happy to provide a more accurate estimate based on your specific circumstances and current market conditions. Just ask!