Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, or has sufficient cash, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract. Ask the following:
1. Has the buyer been pre-qualified or pre-approved (even better) for a mortgage? Such buyers will be in a much better position to obtain a mortgage promptly.
2. Does the buyer have enough money to make a down payment and cover closing costs? Ideally, a buyer should have 20 percent of the home’s price as a down payment and between 2 and 7 percent of the price to cover closing costs.
3. Is the buyer’s income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total income to cover PITI (principal, interest, taxes, and insurance).
4. Does your buyer have good credit? Ask your buyer to show you a copy of a recent credit report.
5. Does the buyer have too much debt? If a buyer owes a great deal on car payments, credit cards, etc., he or she may not qualify for a mortgage. Ideally you want a buyer to submit proof of funding, either a letter form a lender or account statements and credit reports (if he's making a cash offer). You also want to verify this information. DO NOT tie up your property waiting on a buyer to get "qualified". You can give them 10-14 days to provide proof of funds in your sales agreement and if they do not comply you can void the contract and continue marketing your home.
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Myrtle Beach Resort Accommodations
Myrtle Beach offers everything from cozy studios to 10 bedroom beach homes. Whether you are a business traveler, a couple on a weekend get away, a small family or an extended family on vacation or here for a reunion, we can accommodate you in comfort and class. From budget friendly hotels and modern condominiums, to ultra luxury beach homes, ocean view or ocean front with amenities that include pools, spas, lazy rivers, fitness rooms, and more. You'll not find a broader selection of first class accommodations anywhere else on the East Coast. Myrtle Beach DiningFood, food, food. Yes we all have to eat, and the Myrtle Beach area is a literal smorgasbord of restaurants, cafe's, diners, and bistros. The Grand Strand is likely the only place in the world where you could have 3 meals a day each and every day of the year all at a different restaurant. From the American classics, hot dogs, burgers and fries, and family seafood buffets to world class cosmopolitan cuisine you have an endless opportunity of palette pleasing experiences to look forward to.
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Myrtle Beach GolfGolf? In Myrtle Beach? Oh yeah! We Got Golf! At last count there were over 115 golf courses along the Grand Strand. Stretching from Georgetown in the South to the Brunswick Isles in the North. The Grand Strand is truly a golfer's paradise. From budget friendly municipal courses and tournament class public courses to ultra class private courses you'll find a selection of golf courses to meet your budget and challenge you skills. Myrtle Beach Entertainment Activities and Events
What's your pleasure? Chill on the beach? Para-sailing, dancing and clubbing, variety shows, festivals, fishing, nature, sports events? Myrtle Beach and The Grand Strand offer an exceptional variety of entertainment and activity options for everyone. From the sports fishing fleets in Murrells inlet and Little River, and the variety shows in Myrtle Beach to the dance clubs in Ocean Drive you'll never run short of things to see and do along the Grand Strand.
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