First-Time Home Buyer FAQ

Talk to a lender and get pre-approved before you start touring seriously. A pre-approval tells you what price range actually works for your budget, and it makes your offer believable to a seller. Shopping first and financing later is how people fall in love with a house they can't buy.

You'll also sign a written buyer agreement with your agent before you tour homes together. That's been required nationwide since August 2024. If you don't have a lender yet, I'm happy to connect you with a few I trust here in the Upstate.

Not if you shop within a short window. The Consumer Financial Protection Bureau says that within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry. Comparing two or three lenders is smart, and it won't cost you extra points.

Fill it out completely for both of you and let the lender decide how to structure the loan. Sometimes it's better to use both people, sometimes only one, depending on income, credit, and debts. That decision is the lender's job, and a different lender may structure it differently than the last one did.

Your written buyer agreement spells out how your agent is paid, and that amount is negotiable. According to the National Association of REALTORS®, you can still request and negotiate for the seller to pay your agent's compensation as part of your offer. We'll talk through what to ask for on each house, because it affects how your offer compares to others.

Yes. If you're working, out of town, or just can't make a showing, I can preview the home and walk you through it on a live video call, pointing the camera wherever you want to look. It's a great way to rule homes in or out quickly. For a home you're serious about, I still recommend seeing it in person before or during your due diligence period if you can.

Absolutely. The homes I send are a starting point, not a limit. I can show you any home listed on the MLS no matter which brokerage has the listing, and I can also help with new construction and homes for sale by owner. Just send me the address.

One tip for new construction: many builders ask that your agent be with you, or registered with them, on your very first visit to the community. Text me before you walk into a model home so you keep your representation.

Yes. SC Housing, the state housing finance agency, runs two programs worth knowing about:

• SC Housing Homebuyer Program: a low fixed rate plus forgivable down payment assistance. The assistance is a 0% second lien with no monthly payment, forgiven if you stay in the home for the full 15-year term. Income and price limits vary by county.
• Palmetto Home Advantage: forgivable down payment assistance of 0%, 3%, or 4% of the loan amount with no monthly payment. It's open to first-time and repeat buyers, requires a 640 credit score, and has a maximum borrower income of $135,750.

Both go through SC Housing's approved lenders, and limits change, so confirm current numbers at schousing.sc.gov or with your lender.

Maybe not. The VA says veterans who receive VA compensation for a service-connected disability are exempt from the funding fee, along with a few other groups like surviving spouses receiving DIC. If you do owe it, you can finance it into your VA loan instead of paying it at closing.

One more VA rule: seller concessions are capped at 4% of the home's reasonable value. Your lender will confirm your exact numbers.

Yes. It's called a seller concession or seller credit, and it's one of the most common requests in an offer. Your loan type caps how much the seller can contribute. For a conventional loan on a primary residence, Fannie Mae allows up to 3% when you put down less than 10%, 6% when you put down 10% to 24.99%, and 9% when you put down 25% or more. VA loans cap concessions at 4%.

Keep in mind that the seller looks at the whole offer. A $270,000 offer asking for $8,000 in credits nets them about the same as a $262,000 offer with no credits.

Usually not on a purchase. Closing costs are typically covered by you, by a seller credit, or by a lender credit, which you get in exchange for a slightly higher interest rate. One exception is the VA funding fee, which can be financed. Ask your lender to show you the options side by side before your offer goes in.

Because they aren't the same thing. Your cash to close usually includes:

• Your down payment
• Closing costs: lender fees, appraisal, title work, attorney fees, recording
• Prepaids: your first year of homeowners insurance, the starting balance of your escrow account for taxes and insurance, and prepaid interest
• Any points you pay to buy down your rate

Then your earnest money and any seller or lender credits are subtracted. Prepaids and rate buydowns are where most surprises come from. Ask your lender to walk you through the Loan Estimate line by line early, not the week before closing, and send me any questions. I'm happy to sit in on that call.

Price is only one piece. Sellers also weigh the credits you ask for, your closing date, the amount of earnest money, the due diligence termination fee, and how solid your financing looks. Think of it like a balancing scale: every request on your side, like closing costs or a longer due diligence period, has to be balanced by something the seller values, like price or a cleaner set of terms.

Earnest money is a good-faith deposit that shows the seller you're serious. It's held by the escrow agent named in your contract and is usually credited toward your cash to close. Under the standard South Carolina REALTORS® contract, it can't be released to either side unless both parties sign an agreement authorizing it or a court orders it.

Your contract sets a deadline for the deposit. Set up the payment method as soon as your offer is accepted, because some online payment systems take a day or so to verify your bank account.

Under the standard South Carolina REALTORS® contract, the due diligence period starts when the contract is fully signed and ends at the time and date written in the contract. That's your window for inspections, quotes, insurance, HOA documents, and repair negotiations.

If you decide to walk away during due diligence, you have to deliver both a Notice of Termination and the termination fee written into your contract to the seller. According to SC REALTORS®, that fee is not owed if you terminate under the financing, appraisal, or CL-100 provisions instead.

If due diligence ends without a signed repair agreement and you don't terminate, you're buying the house as-is. That's why deadlines matter so much in South Carolina.

The standard SC REALTORS® contract includes a financing contingency, an appraisal contingency (the home has to appraise for the purchase price or higher), and a CL-100 wood infestation report requirement. On top of that, the due diligence period gives you room to inspect and negotiate. Exactly which ones apply and how they're worded depends on your contract, so we'll go over it line by line before you sign.

As a general rule, things that are attached to the house stay, like built-in appliances, the garbage disposal, ceiling fans, and light fixtures. Free-standing items like the refrigerator, washer, and dryer are personal property. The standard SC contract says no personal property transfers unless it's listed, so if you want the fridge, it needs to be written into the contract. Some sellers handle those items with a separate bill of sale.

No. A counteroffer replaces your original offer, so you can't go back and accept the first version later. Your options are to accept the counter, counter back, or let it expire. Watch the deadline on the counter, because once it passes, it's gone.

Not to make the offer, but your lender will need proof of insurance before closing. Start getting quotes early in due diligence. Things the inspection finds, like an older roof, can change your premium or which companies will write the policy, and it's better to know that while you can still negotiate.

There's no set percentage. It depends on how long the home has been on the market, whether it's already had price reductions, what similar homes have actually sold for, and how motivated the seller is. A home that just hit the market in a popular price range may get full price or more, while one that's been sitting for a couple of months usually has more room.

Before we write an offer, I'll pull recent comparable sales so your number is based on data, not a guess. And remember that price is only one lever. Asking for closing costs, a repair credit, or a better closing date can be worth as much as a lower price.

They negotiate differently. Builders tend to protect their sale prices because every sale becomes a comparable for the rest of the neighborhood, so they often prefer incentives instead of price cuts: closing cost help, a rate buydown through their preferred lender, or free upgrades. Individual sellers are more likely to negotiate the price itself, especially if the home has been on the market a while.

Builders don't follow a set schedule for price drops, but finished homes that haven't sold (often called spec or inventory homes) and the end of a quarter or year are when they're usually most flexible. Read the builder's contract carefully, because it's usually written by the builder, and ask whether incentives require using their lender.

In South Carolina, most sellers have to give you the state's Residential Property Condition Disclosure Statement before the contract is signed. On it, the owner either discloses what they actually know about things like the roof, plumbing, HVAC, termites, and HOA, or states that they're making no representations. The first sale of a brand new home that's never been lived in is exempt, so builders usually don't provide one.

The disclosure is not a warranty and doesn't replace an inspection. State law says it doesn't limit your obligation to inspect the property. If your inspection finds something the seller should have known about, like an HVAC system that needs replacing, that finding is your negotiating tool during due diligence. Just keep in mind that a seller may honestly not know about a problem.

As soon as possible after the contract is signed. Everything has to happen inside the due diligence period: the home inspection, any specialist visits like a roofer or electrician, repair quotes, and your repair request. Scheduling early gives you time to react if the inspection finds something.

It's worth considering. Radon is an odorless gas that comes up from the ground, and levels vary from house to house even on the same street. The EPA recommends testing every home regardless of what zone it's in, and recommends fixing homes at or above 4 picocuries per liter (pCi/L). Many home inspectors can run the test during your inspection. If levels come back high, a mitigation system can bring them down.

The CL-100 is South Carolina's Official Wood Infestation Report, usually called the termite letter. A licensed pest control inspector checks for termites and other wood-destroying organisms, damage, and moisture conditions that invite them. Under the standard SC contract it has to be dated no earlier than 30 calendar days before closing, which is why it's usually done near the end. If the report finds problems, the contract spells out what the seller has to fix.

After the inspection, we send the seller a written repair request during due diligence. The seller can agree, counter with something different, or say no. They're not required to make any repairs.

A focused list of safety items and big-ticket systems (roof, electrical, plumbing, HVAC) usually gets a better response than a long list of small things. If you can't reach an agreement before due diligence ends, you either move forward as-is or terminate and pay the termination fee.

No. A credit shows up on your settlement statement and lowers what you owe at closing, within the limits your loan allows. It doesn't come to you as a check. Then you decide when and how to make the repairs after you own the house. Your lender and closing attorney will make sure the credit is handled the way your loan allows.

Yes, with the seller's permission. I'll coordinate access so a fence company, roofer, or cleaner can come out and measure. If a company wants a deposit to hold your spot, make sure it's refundable if the sale doesn't close.

Yes, and you should. Ask for the covenants, restrictions, fees, and any pending assessments during due diligence. HOA rules can affect fences, sheds, parking, rentals, and pets, so read them before your due diligence deadline, not after you move in.

The appraisal contingency protects you. You can ask the seller to lower the price, cover the difference yourself, meet somewhere in the middle, or terminate. According to SC REALTORS®, terminating under the appraisal contingency does not trigger the due diligence termination fee. Appraisals are ordered by your lender and can take a week or two, so we track that date closely.

Ask your lender. If the appraisal was already completed, you usually won't get that money back, because the appraiser did the work. If it hadn't been ordered yet, lenders typically refund it to your original payment method.

Yes. Termites can still get into slab homes through cracks, plumbing openings, and expansion joints, and the CL-100 also checks for moisture conditions that invite them. The standard SC contract calls for a CL-100 regardless of the foundation type, and your lender will typically expect one too.

Usually not. A padded list can make a seller defensive and slow everything down while your due diligence clock is ticking. You'll get a better result asking clearly for what really matters, like safety issues, active leaks, and major systems, backed up by the inspection report or a contractor quote. If you'd rather handle repairs yourself, asking for a credit or price reduction instead of repairs is often an easier yes for the seller.

Conditional approval means the underwriter has approved your loan as long as you provide a few more items, like updated pay stubs or a letter explaining a deposit. Clear to close means every condition has been met. After that, your lender sends your Closing Disclosure, which federal rules require you to receive at least three business days before closing.

Talk to your lender before you give notice. Under Fannie Mae's rules, lenders have to verbally confirm your employment within 10 business days before closing, so a job change late in the process can delay or derail your loan.

If you have to switch, your lender will need to verify the new job, usually with an offer letter and confirmation from the new employer. Don't quit until your lender tells you in writing that they have what they need, and keep me in the loop so we can protect your closing date.

Wait until after closing. New credit and new debt change the numbers your loan was approved on, and lenders often re-check your credit before closing. That includes store credit cards, furniture financing, and car loans. Get the quotes now, and sign after you have the keys.

Let your lender and me know before you agree to any credit check, and ask the utility whether it's a hard or soft inquiry. Setting up utilities is normal and expected, but your lender would rather hear about it from you first than see it pop up on your credit report.

Be careful. Your lender approved your loan based on the money they verified in your accounts, so keep the funds you need for closing where they are. Check with your lender before making big payments, moving money between accounts, or depositing large amounts, because unusual activity can mean more paperwork right before closing.

South Carolina requires it. The SC Supreme Court has ruled that real estate closings are the practice of law, so a licensed South Carolina attorney has to handle them. Under the standard SC REALTORS® contract, the buyer chooses the closing attorney. The attorney's office handles the title search, prepares the documents, collects and pays out the money, and records your deed.

Wire fraud is one of the biggest risks in real estate. The CFPB recommends confirming wiring instructions by phone with people you already know, using phone numbers you got in person or from a trusted source, not from an email. Never act on an email that says the wiring instructions changed.

Talk to your bank a few days early about their wire cutoff times and limits, and call the closing attorney's office to confirm once it's sent. Let me know too, so I can make sure everything is on track for closing.

The standard SC contract gives you the right to a final walkthrough within 48 hours before closing. It's not a second inspection. It's your chance to make sure the house is in the same condition as when you went under contract, agreed repairs are done, the items that are supposed to stay are still there, and the seller has moved out.

Run the faucets, flush the toilets, check under the sinks for leaks, turn on the heat and air, test the appliances, and look for wall damage from the move. If you can't be there in person, I can walk it with you over video.

Under the standard SC contract, the seller keeps the utilities on through closing unless you've agreed otherwise. Schedule your own service to start on closing day. Some providers need a few business days' notice or a deposit, so call them as soon as your closing date is set.

Under the standard SC contract, the seller hands over possession at closing, along with all keys, codes, and remotes, and the house should be vacant and reasonably clean. So yes, in most cases you can move in the day you close, unless your contract says otherwise, like if the seller negotiated a few extra days.

Not without the seller's written permission, and even then it's a risk because you don't own it yet. If you want a cleaning crew in before you move in, let me know and I'll request permission, or schedule the cleaning for the afternoon of closing day.

Your lender has to deliver your Closing Disclosure at least three business days before closing. That document shows your final loan terms and the exact amount you'll need to bring. Your closing attorney's office will also confirm the amount and how to send it. Until then, the estimates from your lender should be close, but they can shift with things like your insurance premium, tax prorations, and your exact closing date.

You'll usually hear "clear to close" from your lender before you get to the closing table, often a few days ahead, though sometimes it comes down to the last day or two if a final condition is still being worked out.

Yes. At a South Carolina closing, the attorney or their closing staff walks you through each document, what it means, and where to sign. It's a stack, but the big ones are the promissory note (your promise to repay the loan), the mortgage (which gives the lender a lien on the home), the Closing Disclosure, and the deed. If you'd like to review documents ahead of time, ask your lender and attorney for copies a day or two before closing, and never be shy about asking questions at the table.

Tell me, your lender, and your closing attorney as early as possible. Your name needs to match your photo ID across your loan documents, title, and deed, and a mismatch from a nickname, a missing middle name, or a recent name change can hold things up at the last minute. They may ask for a document like a marriage certificate, or have you sign a short name affidavit. It's an easy fix when it's caught early.

This is the most important thing to do after you buy in South Carolina, and it isn't automatic. Owner-occupied homes can qualify for the Legal Residence Special Assessment, which lowers the assessment from 6% to 4% and exempts the home from school operating millage. That's a big difference on your tax bill.

You apply with your county assessor. Expect to provide your SC driver's license, SC vehicle registration at the new address, Social Security cards or birth certificates, and your tax return. In Greenville County, the deadline is January 15. Other counties have similar deadlines, so check with yours as soon as you move in.

Two reasons. First, the seller's 4% rate doesn't transfer to you. You have to apply for your own. Second, South Carolina reassesses a home at current market value when it sells, and the 15% cap on value increases that the seller had is removed. Your lender may adjust your escrow payment once the new tax bill comes out.

Ask your closing attorney. Changing your name doesn't automatically change the deed, so keep your marriage certificate with your closing documents, and let the attorney tell you whether anything needs to be recorded. If you're not sure who to call, start with me and I'll point you to the right person. It's a quick question for them and it saves headaches if you sell or refinance later.

Call me. I keep a running list of local contractors I've used or that my clients trust, from plumbers and electricians to fence companies and house cleaners. I'm happy to share it before you even close, and that list doesn't stop being useful after the sale.