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If you're about to embark on the home-buying process, you want to know how to buy a house the quick and smart way. The process
typically takes 2-6 months but in a seller's market with low inventory and
strong buyer demand, it could take longer. We are in a seller’s market
here in the upstate of SC. But what if you could cut that time in half by
hiring an aggressive Buyer’s Agent to help you navigate the unknown
territory of real estate and see homes when they first appear on the
market before the other buyers get there?
We can tour you through available homes at NO COST to YOU! Our experience can guide you throughout the entire process plus we have over 20 years knowledge in Residential Home Building, Lot Selection, Condo/Townhomes, Maintenance Free Living, Resale Homes, Inspections, Contracts and More.
If you’re in the process of saving for a down payment, you might be able to
scrape together the remainder of the money by qualifying for a USDA 100%
Government loan with no down payment. USDA loans are available to home
buyers searching in rural areas that qualify according to the USDA map.
There are many wonderful locations and this option is not limited in housing
available. Many homes located inside the City Limits will NOT qualify
You’ll have to meet certain eligibility requirements in terms of income,
occupation, or credit, but buyers who use down payment assistance programs
save an average of $17,766 between upfront savings and lower monthly
mortgage payments over the life of the loan.
If you’re a Veteran then check out a VA loan with no Down Payment.
FHA provides financing for first time homebuyers who can finance 96.5% and
have a small down payment saved to work with. On a home priced at
$150,000 your Down Payment would be $5,250. You would also need closing
You can see what houses are currently for sale in your area using our site
www.BishopRealtyTeam.com or by contacting us to receive direct MLS home
listings when they first hit the market. To fully stay on top of brand-new listings
in your preferred area ask us (Licensed real estate agents with MLS access)
to set up an automated email through the local multiple listing service so that
you’ll get pinged every time a new listing pops up that fits your needs. We also
can tell you the History of the property such as how long its been on the
market and what are the comparable sales in that neighborhood.
Tracking new listings in real time can give you an edge over other buyers,
because you’ll be in position to schedule showings right away and potentially
make an offer before another buyer even steps foot inside the house.
Closing times are getting longer: On average, it now takes 50 days to reach
closing, up from 40 days in 2015, according to a recent report by Ellie Mae, a
company that provides mortgage solutions to consumers.
To close faster, your best move is to get pre-approved for a home
loan before submitting an offer on a property. A mortgage preapproval entails
a lender running a credit check and verifying your income and assets,
followed by an underwriter doing a preliminary review of your financial
portfolio. If everything checks out, the lender will issue you a written
commitment for financing up to a certain loan amount that’s good for up to 90
to 120 days.
Meanwhile, getting pre-approval letter simply means you’ve discussed your
finances with a lender and received a commitment for the loan. Consequently,
Not having a pre-approval Letter can cause a home seller to dismiss your
offer outright. And even if you somehow manage to sign a sales contract
without one, it’s probably going to take your lender longer to get the loan
approved than if you had pre-approval. Realtors and Listing Agents who
represent home sellers recommend to their seller clients to review a
preapproval letter prior to accepting an offer. Someone may have an
advantage over you if you are not prepared with your preapproval letter in