Facts About Earnest Money

Thu, Nov 5th 2020 1:43 pm by Lea Allen How Real Estate Works

Facts About Earnest Money

 

Earnest money to some is also known as GOOD FAITH MONEY. As a buyer, offering earnest money shows your commitment to purchase the property. This means the money helps provide a sense of security to the seller by letting them know you are serious about purchasing their home. The earnest money is provided in “good faith” as collateral if the buyers walk from the deal for any reason outside of what the purchase agreement contingencies are. These different contingencies will be touched on later. 

Earnest money is not a requirement but the likelihood of an offer getting accepted without earnest money being provided is very slim. The seller is taking their home of...



No comments

The Golf Scene in Myrtle Beach!

Fri, Oct 2nd 2020 2:24 pm by Lea Allen South Carolina Facts

By: Seth June 

October 4 is NATIONAL GOLF DAY. On this day, all of the over 4,300 professional members of the PGA are encouraged to play golf with contributors for charity. Each year, a top ranked golfer is made chairman of this event. This is a truly admirable and worthy event with great intentions, encouraging courses around the country to hold their own charitable events.


With more than 60 miles of Carolina Coastline and over 80 award-winning golf courses, Myrtle Beach, SC has earned the nickname “GOLF CAPITAL OF THE WORLD.” With fall temperatures averaging in the upper 60’s and 70’s, championship courses, fine cuisine, oceanfront accommodations, and so much more, it’s easy to ...



No comments

The Market is HOT!

Fri, Oct 2nd 2020 2:20 pm by Lea Allen How Real Estate Works

A Message From Seth


I’m sure you’ve already heard, THE REAL ESTATE MARKET IS HOT! Mortgage rates are at an all time low and inventory is slim. 


Mortgage Rates

We’re seeing rates below 3% and with these low interest rates means opportunity. These historically low rates are great for buyers and current homeowners. For buyers, you will save tremendously over time. For current homeowners, refinancing could be a great option. Speak with your lender to see if refinancing would be beneficial for you. The attractive rates and the opportunity to refinance brings us to one of the reasons inventory is so low. 


Inventory

Refinancing is extremely attractive to homeowners right now and a lot...



No comments

Property Taxes in Horry County

Thu, Aug 27th 2020 10:00 am by Seth June How Real Estate Works

One of the first questions a buyer wants to know is “how much are my property taxes going to be?” In the greater Myrtle Beach area, the answer isn’t so cut and dry.  Deciding if you will be using your home as a primary residence or a second home/investment property, is going to help determine the amount of taxes you will pay.

When purchasing a home in Horry County, you will automatically be considered at the 6% assessment ratio.  If you plan on making the greater Myrtle Beach area your primary home, then after you close on your new home, you will need to provide proof of residency and your assessed rate will drop to the 4% tax rate.  This makes a huge difference!

We have provided a link...



No comments