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The Home Buying Process

Thinking of Buying a home in Greenville SC? 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 of knowledge in Residential Home Building, Lot Selection, Condo/Townhomes, Maintenance Free Living, Resale Homes, Inspections, Contracts, and More.

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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 to housing available. Many homes located inside the City Limits will NOT qualify, however.

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 costs.

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Stay on top of new listings

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 it has 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 a position to schedule showings right away and potentially make an offer before another buyer even steps foot inside the house.

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Certify that your finances are in order

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 a 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 hand.

Work With Us

We listen to your needs, prepare you for what to expect, update you as we move through the process from beginning to end, and support your needs. Your time is very valuable so we will make every effort to work with you and to get the most accomplished.