Smart Ways to Get the Best Home Loan

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10-30-2017There are different types of home loans and not every home loan meets the demands of every borrower. That is why, when a smart homebuyer finances a house, he/she takes account of many aspects of the home loan which others simply overlook!

Since borrowers nowadays come along with many home loan options, there are some factors that must be considered at all times especially before making the final choice.

To assist you with that, here we will be discussing some of these factors. So that, if you too need a home loan, you can consider these factors proactively and easily avail the benefits attached to these important considerations.

As you follow the tips, you will not only get the right loan for your home but you will also end up paying less interest rate. Similarly, it will be much easier for you to make the repayments in an affordable and timely manner.

Let’s have a look:

Assess the Service Requirements
The majority of customers like to keep things simple in terms of service requirements. For instance, more people prefer less interpersonal service and more updates of basic loan progress. However, this is quite possible in the case of a lender who fits the bill easily and you get fewer whistles and bells for your low-cost/cheap loan. But some customers have complex needs. They may need to go with the lenders who fulfill these demands and that too, at a reasonable price. Hence, to avoid the hefty charges later, it’s best to assess your service requirements ahead of time.

Appealing Interest Rates
The worst mistake that a borrower can make is to win over by flashy and exceptionally low-interest rates. Such interest rates are just to attract borrowers and have a lot more cost attached to it. This cost is in the form of different charges and fees that are constant and must be paid in addition to the loan amount. Therefore, to work around this, you must review the mortgage comparison rate, which is actually the overall percentage figure and calculates the charges and fees along with the interest rate.

Go With Pre-approved Finance
The common mistake made by many buyers is to search for the property before having the finances in place. Hence, before you take a decision about the property, you must be clear about the timeframe which is needed to get the loan. This is important because many lenders deviate from the given timeframe and you face significant in terms of approval and finalization of the loan. Hence, to have a seamless and swift home-buying experience, your best bet is to go with a pre-approved loan.

Do Ask for Help
In order to assess the right loan, always discuss the requirements with the lender and the mortgage broker. This will help you in getting the loan that well complements your requirements. Since mortgage brokers are well-versed with all the formalities and legalities and know the tricks of the trade, they will make sure that you get the best home loan and also its timely approval.

If you need more information about real estate in Columbia, SC, head over to I Sell This Town right away!

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Is Your Landlord Happy with Your Tenancy?

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9-22-2017

A tenancy in Columbia, SC is allowing the use of one’s property to another by means of a lease agreement.

The possession of one’s property for a lawful period of time may make one a temporary resident of that place, but it also demands the responsibility to take care of that property as a tenant. In addition, the attributes of a good tenant are no different than the qualities of a financially responsible and rule-abiding person.

A landlord goes to great lengths to search for a qualified tenant. But what really makes a tenant a qualified one? To help you with the answer, let us have a look at some qualities of a good tenant. After all, a good tenant is more than just a person with clear criminal records and good credit score.

Own the Property

A good tenant never fails in treating the rented property like they are the owner. A tenant must take pride in taking care of the rented property. This will also help them in building a good reputation in the eyes of the landlord. Moreover, qualified tenants also get landlord recommendations in case they need to move to another location in the future.

Don’t Complain Too Much

A good tenant only communicates the issues that are reasonable to bring in the knowledge of a landlord. Many landlords value two-way communication from the tenants, however, a rtenant that complains all the time is simply considered to be a headache. A tenant must understand that they are not the only priority of the landlord and should take the responsibility in terms of resolving minor issues by themselves.

Keep the Property Clean

One of the most commonly faced issues by the landlords is unclean and pest infected property after the lease term is over and renters have left the property. Many tenants do not keep the house clean which causes the pest infestation and leads to property damage severely. While a landlord is allowed to deduct the amount of damaged property from the security deposit of the tenant, such tenants lose their good reputation and are never welcomed back or recommended by the landlords.

Pay Rent on Time

The biggest responsibility of a tenant is to pay the rent without delay. Since a tenant-landlord relationship is built on rent payments in exchange of a rental to reside in, this should be prioritized by the tenants and should be paid without bothering the landlord. In the majority of the cases, landlords depend on the rental payments to manage expenses like the mortgage payments so not paying rent as per the agreement might put your landlord in some serious financial burden.

If you need some valuable information about the real estate in Columbia, SC or searching for a reputed real estate consultancy, contact I Sell This Town straight away!

 

The Essentials of a Tenancy Agreement

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9-13-2017

Tenancy in Columbia, SC is always high in demand. This is one of the most common real estate transactions, but often the most problematic one. This is mainly because that the rental property is legally owned by one person and utilized by another.

While this tenant-landlord relationship creates a lot of need for negotiations and disagreements, there are also few things that all the tenants must look out for at the time of finalizing the lease agreement. Normally, all the tenants provide a written document of the tenancy agreement. However, there are few real estate transactions that are based on unwritten tenancy agreements.

Moreover, these agreements also contain some unfair terms and, if they remain unnoticed by the tenants, they may cause the tenants to face the serious financial burden in the future. To assist you further, let us have a look at them in detail.

The basics of a tenancy agreement

A written tenancy agreement includes the following information;

  • The name of the tenant/landlord and address of the rented property
  • The amount of each rental payment and the term of the lease
  • The kind of tenancy such as short assured or assured and the time of rental payment
  • The inclusion of energy bills in the rental payment in addition to council tax
  • The amount of security deposit and the circumstances in which tenant will not remain eligible to collect the deposit.
  • Any other important terms such as conditions of ending a lease or If the tenant is eligible to sublet the rental property

Unwritten lease agreements

Even if a landlord does not provide a written document of the lease agreement, the assured tenancy continues to exist. Moreover, the conduct of both the parties will reflect the terms of the contractual tenancy. However, this conduct may be the only evidence of the existence of the tenancy agreement. In addition, a tenant can also apply to the court to have the lease agreement as the written document.

The unfair terms of a tenancy agreement

The unfair term of a tenancy agreement is basically the conditions which are not individually discussed by both the parties. While this may create a discrepancy in terms of the responsibility and rights, a tenancy agreement must be easy to understand and should only contain the terms that are agreed upon by both the landlord and the tenant.

Let us have a look at some common unfair terms of a tenancy agreement;

  • Making the tenant pay for the cost of repairs that are basically the responsibility of a landlord
  • Giving the absolute right to the landlord to decide how and when the lease terms are breached
  • Prohibiting the transfer of tenancy (any assignation) to some other person.
  • Allowing the absolute right to the landlord to enter the rental property and without any prior notice
  • Keeping the terms unclear about the right of landlord to take back the possession of the rental property and without getting a court’s order to proceed

While tenancy agreements are very common real estate transactions, without due consideration, this agreement can become a great source of ongoing disagreement between the landlord and tenant.

If you reside in Columbia, SC and need professional real estate consultation, head over to I Sell This Town right away!

 

 

Here’s What You Need to Know about Real Estate Auctions

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by graficallymindedyayimages.com

Buyers know that buying a home at a real estate auction can give them a great opportunity to get a property at a super low price. While this is great to consider, what many buyers mostly overlook is the common risk factors that are attached to buying a home through a real estate auction. Hence, before you start bidding while standing against the experienced attendees of the auction, make sure that you fully understand the auction process.

Let us have a look at some of the overlooked risk factors so that you may consider them wisely in the next real estate auction you go to.

The cost of the property may exceed the market value

When you bid at an auction, you take the risk of paying the cost of the house which is much higher than the fair market value of that house. This is because you bid against many potential buyers and in that process, the price keeps on going higher. However, a desirable neighborhood or a personal interest in the location may be the reason for a buyer to bid higher than the fair market value of a house.

You cannot negotiate repairs

You must have heard the term ‘as-is’. When a house is sold ‘as-is’, it indicates that you cannot negotiate with the owner for the repairs. This will put you at the risk of buying a property that is substantially damaged from inside or requires excessive repairs.

Auctions need up-front cash

An auction is not a deal that will be closed once you pay a check or make a wire transfer. An auction requires the bidder to make an immediate payment after winning a bid. Hence, if you are standing to bid for a house you must keep the funds available in your pocket.

Winning a bid may not give you the ownership

The real estate auctions usually keep a minimum price that is acceptable or there may also be a hidden cost (reserve). In the case your bid is below the minimum price, even if you apparently win the bid, you might still not get the ownership of the property.

The property may be a hidden gem

There is no limit to the risks that are attached to a real estate auction, however, in some favorable scenarios; this risk may pay off amazingly. For this, you must make a bid only when you have well researched the market and have prepared for all the possible outcomes. This way you can easily buy a home at a relatively cheaper price. In addition, an auction deal will definitely let you get a handsome amount of money in terms of the resale value of the house.

If you want to know more about the real estate market in Columbia, SC then simply explore I Sell This Town or like the ISELLTHISTOWN Facebook Page for further information.

Satiate the Artist in You with Art – A Collection of Collections

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8-8-2017

Do you know that the South Carolina State Museum is famous for housing a collection of almost 4000 hand-made objects and works of art, dating back to Century 1590? Columbia, SC is currently hosting the ongoing –Art: A Collection of Collections event. The event is a new exhibition that is focused on showcasing the many art collections in the State Museum. Highlighting the diversity of the art collection in the museum, this event aims to exhibit some of the artworks that have never been displayed before.

What to expect from the 2017 Art: A Collection of Collections?

Attending this aesthetic event is a must this year. The visitors will surely witness the one of a kind art collection that is being displayed for the first time ever. All of these artworks are grouped into many collections. Hence, being a visitor, you will get to explore the artwork of folk, fine, and decorative art that is made by the artists of South Carolina.

Event Details:

The event is being presented by the South Carolina State Museum and held at the same State Museum. The event details are as follows.

Commence date

The event is currently ongoing in Columbia, SC as the exhibition commenced on 14th, June 2017. The event is receiving a huge response from across the state, witnessing a large number of visitors each day.

Admission Info

To get admission to the event held at the State Museum, the admission fee is as follows;

  • Adults – $8.95
  • Seniors – $7.95
  • Children – $6.94

Individual Date and Time

The timings of the event are different for different days. Make sure you reach at the venue as per the designated timings. The State Museum will remain open throughout the week to accommodate the visitors of the event. However, the timings of each day are as follows;

  • On Monday, the museum will remain open from 10 am to 5 pm
  • On Tuesday, the museum is accessible from 10 am to 8 pm
  • From Wednesday to Friday, the visitors can visit the museum from 10 am to 5 pm
  • On Saturday, the museum will be open from 10 am to 6 pm
  • And on Sunday, the museum will remain open for only five hours, from 12 pm to 5 pm.

It should be noted that the durations of the event mentioned above are approximate. To get more confirmation with regards to the event timings, you may contact the venue representative or the South Carolina State Museum to confirm the event duration and start time of that particular day.

Location and Address

The event is currently happening at the South Carolina State Museum – 301 Gervais Street, Columbia, SC 29201.

It’s a great exhibition to fulfill your artistic instincts with a huge variety of historical art collections. It’s an event that caters to the visitors of all ages and can be highly informative if you are interested in historical artwork.

If you are moving to Columbia, SC, and would like to get a residential place, contact I Sell This Town.8-8-2017

Home Inspection – Tips to Discuss Maintenance with the Seller

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8-4-2017Many people feel overwhelmed in discussing maintenance with sellers after a home inspection. Every commercial property is in need of some repair and maintenance at the time of sale that needs to be taken up either by the buyer or the seller.

There is a common assumption between the buyer and seller that once a deal is accepted, nothing is left to be negotiated. However, there may be various issues or problems that might need to be discussed throughout the transaction process. Whether you have done the home inspection initially waited to inspect the house as the last step, there should not be any hesitation in discussing all the relevant details with the seller during the transaction.

Similarly, no seller in Columbia, SC has any sort of contractual obligation to take up the maintenance work whatsoever. All the houses are sold in existing conditions. However, any seller may refuse to make deal with a buyer if there are maintenance issues due to the risk that the buyer may terminate the deal and seek another house in a better condition.

So what is fair to both the parties and reasonable to consider for the buyer as well as the seller?

Most of the time, sellers and agents fail to realize the fact that if they let go of the current buyer, the next buyer will also demand the repair and maintenance after the home inspection. To put it in other words, those leaking walls, damaged shingles, plumbing leaks and all the other unrepaired items will not disappear and continue to reveal themselves during the home inspection by the new buyer.

Furthermore, there is a possibility that the next buyer will be tougher in making their repair request in comparison to the current buyer. So, for a seller, the wise move is to negotiate the terms with the existing buyer, unless the buyer’s request is totally unreasonable or over the top.

To accept the request and to work along with a buyer has always been in the favor of the seller. However, a seller must know when to put a stop, and the buyer must follow ethics in raising a polite request rather than being authoritative.

To assist you further, let us have a look at some common ways for buyers to politely raise a maintenance request.

  • During a home inspection, if you find any repair or maintenance work, always address the situation with the agent in real time and without declaring the property as fine. In case you do not discuss out the problems during the home inspection, the seller and agent will take it as a go ahead from your end while you will be left thinking about the repair and maintenance of the new house.
  • Before you negotiate the terms with the seller, prioritize what you can fix by yourself and what needs to be fixed by the seller. For instance, small dings of the cupboard are not much of an issue; however, damage of the hardwood flooring may require some negotiations with your seller. This will also help in convincing the seller to take up the repair work and close the deal on a positive note.

 

If you reside in Columbia, SC and need some valuable information about real estate market, then visit I Sell This Town right away!

Four Reasons Your House Sits Idle in the Seller’s Market

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by stuartmilesyayimages.com

People face different types of issues in selling their houses. These issues can be in the form of finding the right prospect, maintenance of the home before sale, credit score, mortgage or loan issues and others. However, there are few situations in which your house remains idle in the seller’s market even if you don’t have such issues, and you keep waiting for its sale, according to your terms.

So what really causes the delay in your house sale?

While there could be many reasons, being a seller, you must try to get to the root of the problem so that you end up closing a favorable deal. To assist you further in knowing these reasons, let us share with you the top four reasons that might be causing the delay in your house sale.

Unreasonable Pricing of House

The demand and supply graph is always variable in the seller’s market.  However, the sky is not the limit when it comes to listing price. Every seller likes to push the price a bit higher than necessary, but this is by far the most basic and common mistake made by a seller. This way a seller can easily miss out some prospective buyers. Hence, make sure to price your house according to the market conditions and take the assistance of a professional agent.

The spooky title of ownership

No matter what title or name you give to your house, your title of ownership must be clear. With the title, we are here referring to the document that reflects the ownership of the property. May be the title of ownership is written in such a way that makes a prospect buyer doubtful about the property.

The good part is that you can easily resolve the title issue. Contact a title company and find out the ways in which you can easily prepare a good title in order to sell your house without delay.

The smell of your house

There is a famous saying in the real estate industry “if we can smell that, we can’t sell that”. As you live in your house for a long time, there is a chance that you would stop noticing the annoying smell in your house. However, for a prospective buyer that might be a big turn off. To avoid this, make sure you light a scented candle or use air fresheners during the buyer’s inspection. Moreover, try to resolve the issue once and for all before the sale of your house.

Your agent does not care enough

A few times, your house may not be the reason for the delay in your house sale but your agent may be the underlying reason for that. If you do not hire a reputable and professional agent to handle your house sale you might end up working with an agent that is burned out, non-professional, careless or has no social skills.

Always be very cautious and hire only professionals to deal with your real estate matters. After all, it’s a long term investment and must be dealt with all the professionalism possible.

If you reside in Columbia, SC and need excellent consultancy for your real estate matters, head over to I Sell This Town right away!

Common Mistakes Made by Landlords

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With the recent collapse of the housing market, many potential investors with reserved cash or successful access to a credit line are trying to grab incredible deals for residential properties through real estate investments.

While this may sound like an easy way of earning money, such an investment requires adequate measures in order to sustain the benefits in the longer run.

As you buy a house, make some changes and renovate it, and then rent it out for a monthly fee, you must think with the mindset of a businessperson rather than as a first-time landlord.

If this is your first experience of being a landlord and you want to gain maximum returns on your investment, let us assist you by discussing some common mistakes made by many landlords and the ways to overcome these issues before you rent out your property.

Trusting a handshake

In the real estate industry, you cannot rely on or close a deal, simply by trusting the words spoken by your tenant. In order to protect yourself from legal formalities or complications, make sure you keep formal documentation of each transaction and sign an agreement with the tenant to allow residency, as per the defined terms. Moreover, make sure you comply with state laws regarding lease agreements, because if a legal issue arises, you would need to present all such documents before the legal authority.

Screen the potential buyers thoroughly

It has commonly been observed that every first-time landlord wants to have their property rented at the earliest. To achieve this purpose, many landlords rush to close a deal and miss out on the process of screening the buyers.

Before you choose a buyer to rent out your property, make sure you check their credit history. While credit score is not the only defining factor, you will have to look for the buyer’s credibility, the size of their family and similar other factors so that you can maintain a healthy landlord-tenant relationship throughout the tenancy.

Make sure to collect rent on time

When you wish to build healthy and friendly acquaintances with your tenants, it may not be easy to collect property rent on time. While your tenant might take a few days to make the payment in the first month of tenancy, it might become a partial payment in the case of switching jobs, and ultimately, you might realize that your tenant is now three months behind in making rental payments.

Although you should not speak to your tenants sternly, in order to collect the payment on time, asking them respectfully and firmly to make the payment is a good way to maintain friendly terms with them.

Visit your rented property

Once you rent out the property, you must still take responsibility for it. Make sure to visit the property once in a month to follow up with any issues or problems that your tenants are facing, or creating, for your property. If you remain negligent in this part, then you will not be able to blame your tenants for any issue, if it arises.

If you want to get some more information about the real estate in Columbia, SC, then head over to I Sell This Town.

 

Why is it Important to Maintain Real Estate Documents?

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by Sithiporn Thanapaisankityayimages.com

Being a home buyer or seller, a real estate transaction involves a lot of paperwork. Such paperwork is necessary to have documentation of all the agreed terms between both the real estate parties. Moreover, as per the legal requirements of Columbia, SC, it is crucial for a homebuyer or seller to keep all the legal documents related to a property available at all times.

Since real estate dealing is an extensive process that involves a lot of transactions, the paperwork may include the agreement, receipts, photocopies, state documents or even the original legal documents of either of the parties involved. While a real estate deal may end soon, you may still be required to maintain these important documents for several years.

The importance of organizing real estate documents

We all know that having accurate documentation is of crucial importance these days. It is said that ‘if it is not written down, it never happened!’ That being said, it cannot be emphasized enough that organizing the real estate documents is imperative.

Let us have a look at some of the basic reasons for a person to keep real estate documents well-organized at all times.

To maintain confidentiality

An unorganized pile of papers spread all over the place may easily be lost. Since real estate documents include confidential information like the transaction details, contract terms, and even personal information, they need to be secure and at a place that is only accessible by relevant persons.

It is also important to avoid the loss of real estate documents by way of theft. Therefore, a practical suggestion would be to keep copies of all legal documents to avoid losing them all at once. As we know, in the dealings of real estate, disorganization is a serious problem that may cause legal and financial ramifications for a person in the longer run.

To comply with the regulatory requirements

As stated earlier, the regulatory authorities in Columbia, SC require every individual to keep their real estate documents available at all times. These documents may need to be presented at any given time for any legal reason. In case a person fails to produce the real estate documents pertaining to property bought or sold, the person may face serious legal actions or even penalty. To mention the worst, a person may even lose his ownership of a property.

 To resolve property related disputes

At times, a property may be owned by more than one owner. In that case, a homebuyer or seller may face disputes like the change of ownership or transfer of property. Nevertheless, real estate documents are the legal proof of all the terms and conditions agreed upon by both the parties involved, hence, it is crucial to organize the real estate documents so that you may easily refer to them whenever needed.

In case you are not habitual of keeping your paperwork in order, you must find a way and make conscious efforts because disorganization in real estate industry is more than just a nuisance.

If you want to know more about real estate in Columbia, SC then contact I Sell This Town.

Real Estate Secrets Which No One Will Tell You

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by speedfighteryayimages.com

Have you ever been a home buyer or a seller? If yes, you must know that not all brokers are as communicative as they appear to be. Of course, they can tell us everything that we need to know about the house. They will also tell us the square-footage or the factors that will affect our home-improvement plan and would be happy to guide us through the home inspection, but there are a lot of things that a realtor does not tell us.

These are the little secrets of real estate trade that not all realtors tend to tell their clients. Below, we take a look at some of these real estate secrets to help you know them better.

The commission is always negotiable

While it appears that realtors do not negotiate the standard percentage of the commission, this is not at all a true assumption. A realtor is always open to negotiate the commission as a regular practice. The commission is negotiable on a case-to-case basis and, sometimes, while dealing with the property of millions, the realtor may reduce the commission rate up to an extent that you wouldn’t expect at all.

The zoning pains of a bought property

Unless a realtor is a true friend of yours, do not expect them to inform you about the zoning pains that you will be facing once you buy the property. If you intend to make some changes to the bought property, then it’s a good decision to carefully analyze the place. Also, try to watch out for zoning problems beforehand. You may get the required information from the homeowners association or the municipal authorities.

Realtors are available 24/7

It is common for the realtors to receive calls from their clients even at midnight or the busiest hour of the day just to make minor changes to the plan. Every realtor faces the situation where their job is to make the client happy under the most stressful circumstances when searching a home.

This may also include the efforts of dealing with a couple, where a realtor may even need to ask each of them to specify their requirements separately and to make them settle for a home with mutual agreement. Hence, even if a realtor does not mention it, they know that their job demands availability, round the clock – 24/7.

Realtors do not just sell houses

A realtor is a salesperson for their business. They also need to sell their expertise to survive in the real estate market. Since a large portion of a realtor’s business depends on the referrals of old clients or repeat clients, many realtors choose to sell homes in a particular area. Also, some realtors choose to work within a targeted geographical area which makes it easy for them to market their services in the particular area.

Realtors are small business owners and need a good reputation and strategic marketing to capture maximum clients. However, to achieve that, many realtors nowadays ensure their online presence on different social networks is strong enough to capture potential clients, and they never hesitate in maintaining trustworthy and positive business terms with their clients.

 

If you want to get some more information about the real estate in Columbia, SC then head over to I Sell This Town.