Home Grown Real Estate Home Buyer Guide

BUYER'S GUIDE

We are Kevin&Brittnay Douglas

E L L O

We are Kevin & Brittnay Douglas, owners of Home Grown Real Estate. Kevin is the Broker-in-Charge, but we are both Realtors who can help with all your real estate needs. We know how stressful the home buying, selling, & moving process can be as we’ve personally made four cross country moves ourselves. We live in Summerville with our two children but have experience in the entire Charleston area.

Buying and selling a home can be complicated. You do not need a salesman. You need a Realtor who is professional, honest, and knowledgeable

Since the real estate market is dynamic and ever changing, not having a Realtor to represent your best interests could cost you money, time, effort and stress.

By choosing to work with Home Grown Real Estate, you are gaining a new friend who has nothing but your best interest in mind. We will get to know you personally so we can use our expertise in the Real Estate Market to support and guide you through your entire real estate transaction But our relationship will not end there. We will continue to provide you service by keeping in touch and being your community contact for all things home and non-home related.

OUR TEAM

HomeGrown Real Estate has worked hard to build a collaborative team of Realtors. You may work solely with Kevin and/or Brittnay during your transaction or there may be times where you work with another highly experienced HomeGrown Real Estate Agent Regardless, you will receive exceptional support and customer service during the sell of your home.

REAL ESTATE TERMS

PRE-APPROVAL

A pre-approval is a preliminary evaluation conducted by the lender to show that the buyer has the funds to purchase up to a certain amount This is extremely helpful when you find a home you're ready to put an offer on

TITLE SEARCH

A title search proves that the property is, in fact, owned by the seller You can also purchase title insurance to ensure that no issues arise later In SC, the title search is completed by your closing attorney

OFFER CONTINGENCY

An agreement between a buyer and a seller to purchase a piece of real estate. This is sometimes referred to as a sales contract.

When an offer is accepted by the seller, but there are certain conditions that must be met before the sale is final

CLOSING COST

The fees that are paid at the end of the purchase by either the buyer, seller or both These include taxes, insurance, attorney fees and lender expenses

EARNEST MONEY

Also known as "good faith" money, this is money put up by the buyer into a trust or escrow account. This action shows the buyer is serious about purchasing the home.

The appraisal is the value given to a property based on comparable properties that have recently sold This is typically required by the lender in order to decide if the requested loan amount is in alignment with the value of the property

HOME INSPECTION

An inspection is a professional examination of the property's condition Your agent can recommend a qualified home inspector for you

APPRAISAL DISCLOSURES

All seller's are required to fill out a property disclosure stating what they know about the property - good or bad.

CLOSING

This is the final step of your real estate transaction. At closing the funds from the buyer are provided to the seller and the buyer receives the keys. This process typically takes an hour.

PREPARING TO BUY

FINDING A GREAT AGENT

INDUSTRY KNOWLEDGE

We have access to a wide variety of resources that are not readily available to the public. We not only have vast knowledge and experience in the selling process, but also the buying process, real estate investing, and property management.

SMART NEGOTIATING PROFESSIONAL EXPERIENCE

With our collective experience and expertise, we can help you negotiate the best price for your home

As a Realtor, we undergo annual training and compliance to ensure that we are up to date on any changes in legal or administrative paperwork.

CUSTOMER SERVICE

Our agents are dedicated to helping you answer any questions that arise from this process. We treat you, how we would like you to treat us!

Finding a real estate agent that you trust and feel comfortable with is as hard as finding the right house to call a home. A purchase of this magnitude is a huge life decision and you want to make sure that your real estate agent is as invested in this sale as you are.

At HomeGrown Real Estate, we have a great experienced team who you can trust!

FINANCIAL

DETERMINE YOUR BUDGET

Consulting with a mortgage lender early in the buying process is highly recommended Generally it is recommended to stay within a budget of 3-5 times your annual income when purchasing a new home

Your mortgage lender will take other expenses into consideration when determining your housing budget such as: down payment, legal fees, taxes, home inspection costs, appraisal costs, and renovation costs.

HOW MUCH SHOULD YOUR DOWNPAYMENT BE?

Down payment amounts will be determined by what type of loan you are applying for. Down payments can range from a minimal of 0%-20% of purchase price

You should consult with your mortgage lender to determine what type of loan is best for your circumstances.

FINANCIAL

CREDIT SCORE CHECK

Your Mortgage lender will perform a credit check prior to preapproving you for a mortgage Credit scores are used to determine your interest rate The most ideal range will be 620 or above.

The better your score, the lower the interest rate you will qualify on your mortgage Lower interest rates equal lower monthly payments

PRE-APPROVAL

Obtaining a pre-approval on your mor ways First it will help you determine your budget, and help you stay within your means. Second it shows the seller that you are serious about purchasing a home, and that you have the funds necessary to complete the purchase. Most sellers will require preapproval prior to approving your showing

Although you are pre-approved for a loan, does not mean that you will be guaranteed this amount in your final mortgage You will still have to complete underwriting to be approved for a mortgage after you have submitted an offer.

It is important not to make any significant purchases or alter your credit score in any way during this time.

F I N D A H O M E

TOUR HOMES

HOME SEARCHING TIPS

Be sure to make a list of your must haves, wants, and don't cares.

As you go through the viewings, make sure you check off all your must haves

The goal is that you find a house you love, so you can make an official offer to the seller.

Take photos as you go through homes that appeal to you so you remember the layout and the feel of each house you are interested in

Pay attention to features of the property that are fixed such as the neighborhood, the lot size, and the orientation of the home Don't pay too much attention to the colors of the walls or the furniture. These are easily changed.

Be sure to check out the small details like the light switches, water features, and appliances to make sure everything works.

MAKE AN OFFER

Once you find a house you love, you can make an official offer to the seller.

As your Realtor, we will guide you through deciding the details of your offer including purchase price.

04

NEGOTIATE AN OFFER

Be prepared to receive a counter-offer, and don't be afraid to negotiate for your purchase with the guidance of your realtor.

Be sure to know what you are buying and ensure that you feel the price is fair at the end of the day.

INSPECTION

W e h a v e g r e a t i n s p e c t o r s w e w o r k w i t h T h e y t a k e p i c t u r e s a n d a r e v e r y d e s c r i p t i v e i n t h e i r r e p o r t

Y o u c a n a l s o a s k f o r t h e o p t i o n t o a t t e n d t h e i n s p e c t i o n B u t t h i s i s n o t r e q u i r e d a s t h e r e p o r t s w i l l b e v e r y t h o r o u g h .

O n c e t h e i n s p e c t i o n i s c o m p l e t e , y o u c a n d i s c u s s a n d n e g o t i a t e w i t h t h e s e l l e r a n y f i n a l p o i n t s .

We strongly recommend all buyers complete their inspections within their due diligence period

It is important to know as much about your home as possible

If anything serious comes out of the inspection, you have an option to back out of the agreement, or it can give you more negotiating power for repairs or a price reduction.

FINAL STEPS

Other tasks that will be completed prior to finalizing the purchase of your new home:

1. Appraisal

2. Property title search

Your mortgage lender will arrange a formal appraisal of the home prior to issuing your loan.

In SC your closing attorney will complete your title search

APPRAISAL & LOAN APPROVAL

During the underwriting process, the lender will review any and all financial related forms and information prior to granting the loan.

They will review details like:

Your income Credit check Employment status

CLOSING and MOVING

SCHEDULE YOUR MOVE

07

Some things you will want to keep in mind closer to your move date:

Movers

Renovators/ contractors

Utilities

Cleaners

Move out details

CLOSING

Closing is the final step for you to become the legal owner of your home You will take a final walk-through just before closing to assure that negotiated work has been completed and everything is in working order

The closing process itself requires a lot of paperwork and patience. Be prepared with your government issued photo ID, cashier's check and any other documents required by the title company or loan officer.

Don't forget to re-key all the locks and change the garage door opener code when the property is officially yours

Congratulations on your new home!

Kevin is the realtor I'd recommend to my friends and family Especially if they were making a long distance move here like my husband and I did Solid advice, good eye for details of potential issues, superb knowledge of the area, easy to get along with personality, professional flexibility and timely responses to inquiries and requests Best realtor we've ever worked with

Elissah McCann

K e v i n i s s i m p l y a m a z i n g ! H e w a s k i n d , g r e a t w i t h b i d s , g r e a t k n o w l e d g e o f t h e a r e a , a n d l o o k e d a t a n y a n d a l l h o u s e s a l l o v e r t h e C h a r l e s t o n a r e a f o r u s H e m a d e t h e m o v e c r o s s c o u n t r y s o m u c h e a s i e r f o r m y f a m i l y a n d I

K e v i n i s a g r e a t r e a l t o r , h e ' s k n o w l e d g e a b l e , p e r s o n a b l e , a n d p r o f e s s i o n a l . I ' v e s e e n f i r s t h a n d t h e t i m e h e t a k e s t o c u l t i v a t e a r e l a t i o n s h i p w i t h h i s c l i e n t s w h e t h e r t h e y ' r e l o o k i n g t o r e n t , b u y , o r s e l l

MacKenzie Sylvia

Marion

RESOURCES

LANDSCAPING

Hudson Brother Lawn Care 854.888.0122

Palmetto Landscaping & Design 843 810 4998

Greenecoast Lawn Management 843.990.2959

ELECTRICAL & PLUMBING

RAM Electric 843.708.7403

Simply Electric, LLC 843 575 8676

Plumb Pro 843 974 4620

PROFESSIONAL MOVERS

All My Sons Moving & Storage 843 258 5081

Thompson & Scott Delivery Partners 843 483 3292

Two Men and a Truck 843 242 7444

HOME TOURING CHECKLIST

ADDRESS OF PROPERTY:

DATE VISITED:

SCHOOL DISTRICT:

ADDITIONAL COMMENTS: