Havens: Home Buyers Guide Charleston, SC Area

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Home Buyers Guide

With so much to consider as you begin your search for your new home, it is easy to overlook or perhaps not even be aware of some of the important details that are crucial to buying a new home.

Havens Charleston Real Estate has taken the opportunity to provide you with some "inside industry information" that will aid you in the home buying process. And, of course, your Havens real estate team will always be available for questions and guidance along the way.

Agency Relationships in South Carolina
All real estate agents are required by the State of South Carolina to work for either the buyer or the seller in each and every real estate transaction. You must represent someone. That may sound obvious, but some clients do not fully understand what this Agency Agreement means and how it could negatively impact their position. For example, if you as the buyer have decided for some reason not to sign an Agency Agreement with Havens Charleston Real Estate, we could subsequently continue a professional relationship with you as a customer (vs. a client) with this very important caveat. In this scenario, if we found you a home that you wanted to purchase, the Havens real estate agent must work on behalf of the seller and represent them with their best interests in mind. Even if the seller already had a signed Agency Agreement with another agent, Havens would still act as a sub-agent for that seller. And here's the real kicker. Assuming Havens had some previous knowledge about you, the buyer, Ie. a need to move quickly, a certain location you needed to be in, etc., that information could in fact be disclosed to the seller if it proved to be beneficial to them. This could in turn potentially put you, the buyer, at a disadvantage. Everyone is working on behalf of the seller's best interest and you are alone on the other side of the transaction.

Some people have an immediate hesitation to written agreements they are asked to sign thinking they will be trapped in a never-ending business relationship with no way out. This is not true. An Agency Agreement in the real estate world can be cancelled at any time with no further obligation. Your signature simply ensures that the above scenario does not happen (you don't want your agent working for anyone else's benefit other than yours.)

So, remember, it's ok to sign the Agency Agreement. You can cancel anytime. No questions asked.

For more information, click on the above title and you will be re-routed to the Agency Disclosure Brochure file. Feel free to save it to your computer or print it out for future reference.

The Importance of Pre-Qualification
It will always be to your advantage as a buyer to have the mortgage pre-qualification process complete before you begin your search for homes. Obviously, buyers who come to the table with an offer already "pre-qualified " for a mortgage have a much stronger position in the overall negotiation process. It also shows the seller that you are a serious buyer with a willingness to take these proactive steps prior to finding the perfect home. Many realtors today do not show property to prospective buyers unless they have in fact been pre-qualified. Havens Charleston Real Estate has the pleasure of offering you the guidance to obtain prequalification status with the aid of its many mortgage partners. Even if you have a pre-qual with another lender, we encourage you to take the time to allow our company to help you obtain a competitive bid. The final choice is yours, but having a point of comparison is always a good tactic when considering any service.

Why Title Insurance is Important
You've just purchased your new house, recently settled in and are working hard to make those special touches that really make it feel like home. You receive notification that the title which was transferred to you at closing, was forged by who you thought was the previous owner and is therefore deemed null and void. The real owner wants his house back. Guess what. He has every right to the home you thought was yours and you're being asked to leave. That is, if you do not have title insurance. Title insurance protects you, the buyer from this potential scenario and many more. The title search all lawyers perform prior to closing is not a guarantee of a clear title. Mistakes can be made, items can be overlooked. Do not leave yourself vulnerable to human error or situations that may have not been disclosed during the closing process.