Buy With Us
Buying a home can be a very emotional endeavor. Because it is one of the largest and most important purchases you will ever make, the purchase process is often filled with uncertainty and anxiety. This is why Carolina Realty & Investing Group is dedicated to providing a memorable and positive experience for each of their clients, from our first consultation, all the way to closing.
We understand that not every buyer is the same, which is why we personalize each buyer’s process. With integrity, honesty, we build long-lasting relationships with all of our clients. We set ourselves apart from the competition by always being here for your questions, returning your phone calls promptly, and keeping you informed on the progress. Every detail of paperwork and the transaction will be thoroughly explained so that you can be completely confident in your purchase.
Some common questions we would be happy to answer for you include:
- Should I get pre-qualified?
- How much will I pay in closing costs?
- What is a foreclosure?
- How much money do I need for a down payment?
No matter what the question may be, we are here at Carolina Realty & Investing Group to help you find answers! Contact Us today to get started or ask us any questions you may have.
Searching for a Home
Here at Carolina Realty & Investing Group we don’t sell houses, we sell homes. Your home is where you will continue to grow relationships, your family, and memories for years to come. Whether you’re happy or sad, your home is there to comfort you. Gone for a trip, your home is there to welcome you back. No matter the size or location, your home will always be there to provide comfort and a safe space for you and your family.
Buying a home can come at any stage in your life. Whether you are looking for your first home to grow your family in, a bigger home because your family has outgrown where you are, or looking for something smaller because what you have is too much to manage, Carolina Realty & Investing Group is sure to find you just what you are looking for.
If you are looking for top-notch services in finding the perfect home, Contact Us and let us begin your perfect Home Search Today!
REO & Foreclosures
Foreclosure is the legal process by which a lender recovers defaulted loan balances by taking ownership of a property for the purpose of selling it. A default is prompted when a borrower fails to make a specified number of payments on their mortgage loan.
When buying property at a foreclosure auction, a buyer must be prepared to satisfy all balances including principal, interest and fees accrued during the foreclosure process. Foreclosure sales are transferred As-Is; this includes conditions such as with liens or even tenant occupancy.
Real Estate Owned, REO, also referred to as Bank Owned properties are those properties which have not successfully sold at a foreclosure auction. Once a bank or lender takes ownership of a property, if need be, they will typically take care of removing tax liens and/or remove tenants.
Bargain or Burden?
Although banks and lenders are typically motivated sellers, they are still looking to maximize their revenue from the sale of their REO properties. If your intent is to save or make money from the purchase of an REO property, careful consideration should be given to review all costs involved in getting the property into an either livable or saleable condition. While bargains do exist, oftentimes REOs are an impractical purchase for either savings or profit potential.
Making an offer on REO?
Practical due-diligence is advisable when making an offer on an REO property. You will want to learn as much as possible about the conditions of the property and the accepted offering process. When working with lender REO departments, because there are several persons involved, the negotiation process can be considerably lengthy.
If you’ll Contact Us, we’ll work with you through each step so as to make the process less arduous.
To start the home buying process, we suggest getting pre-qualified for a loan. This will allow you to determine what is a realistic price range, and save you considerable time when determining what homes you will want to preview.
When applying for a home mortgage loan, there are several documents you will want to be ready to provide to your loan specialist. These include:
- Employment Status and/or Tax Filings
- Income and Expense obligations
- Credit History
There are many types of home loans for which you may qualify, and we are here to answer questions you may have. If you aren’t sure where to go to get pre-qualified, Contact Us, we can help with that as well.
Offering Deposit Monies
When making an offer to purchase on a property, deposit monies will be offered and paid to the seller, to be held in trust by the closing attorney and disbursed at closing.
When you enter into a purchase agreement, the seller takes their house off the market while moving through the rest of the transaction. If for some reason you didn’t close on the house, the seller would have to relist it, which could be a huge financial burden on them. Earnest money is an amount of deposit you put down before closing on a house to show that you are a serious buyer. The greater your deposit included with your offer, the greater the seller’s confidence in your interest in securing the property and closing the sale.
When purchasing a home, you want to ensure the home is in proper condition before making the huge investment. In order to do so, you will most likely want to invest in an inspection, appraisal, and a property survey. The time to do so is during the due diligence period. During this period the buyer has the right to terminate the purchase for any reason, while the seller remains bound by the contract. The due diligence period is also paired with the due diligence fee. While this fee is negotiable, it is non-refundable. Unlike earnest money, the due diligence fee is typically credited back to the buyer at closing.
Contact Us, and let us assist in presenting your offer, and in determining an appropriate amount to offer for earnest and due diligence monies.
What is Mortgage Escrow
“Escrow” is a financial instrument. The Escrow account refers to an account held and managed by a third-party on behalf of two parties engaged in a transaction.
The escrow holder ensures that the terms and conditions of the agreement between the seller and buyer are upheld while the sale is being finalized and prior to closing.
Documentation compiled by the escrow company include:
- Terms of sale and any seller-assisted financing
- Loan documents
- Tax statements
- Insurance policies
- Title insurance
- Payment requests on services to be rendered from escrow funds
Closing is scheduled upon completion of all steps in the escrow process. All expenses for title insurance, inspections and real estate commissions are paid. The Escrow agreement governs the final transfer of property title from the seller to the buyer.
The Mortgage Escrow Account
At closing, a Mortgage Escrow Account is funded and used throughout the life of the property mortgage loan, in order to pay recurring fees, such as property tax and homeowners insurance premiums. In order to maintain a balance from which payments are made out of the Escrow account, on-going contributions into Escrow are made through the monthly mortgage payment.
While this is a simple outline of the escrow process, your particular process may differ with your lender and escrow company.
We are ready to answer any questions you may have. Feel free to Contact Us.
How much will it cost to Close?
When negotiating on your behalf, we will work diligently to ensure you are getting the best deal possible. This includes negotiating closing costs and whether the buyer or seller will be paying assuming responsibility for certain fees. Regardless of the loan estimate amount that you receive, it should include an approximation of your closing costs, that way you aren’t overwhelmed when you arrive at the closing table.
Here are some of the costs that will need to be settled at closing, prior to the transfer of title and recording of the deed.
Costs pertaining to your loan to be paid at closing
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
- Taxes you may be responsible for at closing
- Transfer Taxes and Recording Fees
- Insurance fees due at closing
- Flood Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
As a Seller, we assist our clients to negotiate the best possible sales price. We also work diligently to negotiate for lower closing costs. Once an agreement is reached, we will go over each line item cost so that you will understand exactly how your money is being allocated.
For our Buyers, we advise that they work with a lender who will promptly provide a loan estimate following receipt of your loan application. Loan estimates should include closing cost approximations based on the loan officer’s past experience. Getting an estimate prior to closing will ensure that you’re not astonished when closing.
While we do not receive a copy of your loan estimate, Contact Us and we will be happy to review any questions you may have with your lender.
Work With Who Works!
We Appreciate your interest and visiting our website.
We’ve just recently completed Our New Website. It has been Streamlined to allow you to quickly access the resources you need, in order to work with us most efficiently.
From our Menus you should still be able to Keep in Touch with Us, access your Client Portal, and Search and Monitor properties you are interested in.
We very much look forward to working with you.