Your Team Matters
By Julia Bell
The secret’s out—Lexington County is a wonderful place to call home! According to the U.S. Census Bureau, this area has experienced a 15.7-percent population growth in the last ten years. These figures represent individuals who have chosen to relocate to the area, and that decision often involves finding long-term housing. Whether the goal is to buy, sell, or build a home, the experience will be much more gratifying if the future homeowner does their homework ahead of time and selects the right team to assist in the process.
“Lexington offers an exceptional cost of living and contributes to a strong economic base here in the Midlands,” says Lisa T. Moore, a Coldwell Banker top-producing realtor and longtime Lexington County resident. “We are fortunate to have thriving communities filled with churches, programs for children and families that include a great variety of activities and sports.”
When buying and selling a home, Moore assists individuals and families with this major undertaking, and their involvement makes the process run more smoothly. For instance, she can help buyers and sellers navigate the local housing market and position her clients for success. Moore can assist by negotiating contracts, inspections, and appraisals in both roles of representation.
Moore strongly believes that “you never get a second chance to make a good first impression.” In addition to routine maintenance, she can recommend less expensive improvements, such as landscaping, fresh paint, and better lighting, which make property more marketable. Other tips, like prioritizing upgrades to a kitchen and master bathroom, help a client get the best return on their investment.
Buyers are a step ahead of their competition when they get preapproved by local reputable lenders. Moore and realtors like her are available to guide buyers and sellers in one of the largest financial decisions that will directly impact their family for years to come. Buyers should review insurance options, local utility companies and their rates, and property tax information to help anticipate the cost of living.
A real estate attorney is another important resource in the home-buying and selling process, and Lexington Attorney James McCutchen of McCutchen McLean, LLC, has handled real estate transactions while serving the Lexington community for the past 15 years. The responsibilities of firms such as this include preparing legal documents, verifying that a clear title is transferred, and ensuring the buyers have title insurance to protect their assets. They also review prior surveys and deeds to confirm there are no title defects, potential liens, or judgement liens attached to the property.
In addition to educating clients on town, county, and state requirements and taxes, real estate attorneys can advise them about new laws and regulations that may apply to or benefit them. Following the closing, attorneys distribute sale money to real estate agents and toward lender fees, closing costs, and any mortgage, repair, and lien payments.
Attorney McCutchen recommends that home buyers take time to select the right local real estate agent, lender, and closing attorney when buying and selling. “Do your homework, make sure they have experience in real estate closing, tax issues, probate issues, and that they know the local market,” he advises. “It can be the Wild West out here, and when sellers receive multiple offers, they often look at the real estate agent. Sometimes that can affect whether you get the contract or not.”
When building a new home, attorneys also provide essential services during the construction process. If required by the lender, they assist in an extra closing and help clients understand the construction loan terms. For example, an attorney would inform home builders that lenders usually lock rates after the first year of construction and then issue a fixed rate or variable rate loan. The construction process includes paying contractors in phases with heavy lender involvement, which are financial details a homeowner building their first homes should understand before beginning the process.
Seventeen years ago, Emily and Joe Wright founded The Wright Group Construction company, a business that specializes in creating custom homes, as well as remodels and additions. According to Emily Wright, choosing the right builder makes all the difference within this process. “We work hard to minimize issues, use trusted vendors and subcontractors, and work to resolve any issues quickly,” she says.
As an experienced builder, Wright also says that there are several important factors to consider when beginning this complex process. For example, municipal regulations may dictate the placement of the house on the property. Additionally, fees for utilities should fit within the homeowner’s budget, but if those services are not available, a well and septic tank must be installed, which requires guidance from the Department of Health and Environmental Control (DHEC).
“When choosing a house plan,” Wright adds, “it’s important to consider not only what will fit on your lot, but also how much square footage and what type of layout will work best for your lifestyle.” These selections can impact the price, so homebuilders are cautioned to think about the end goal—whether this will be a “forever home” or an investment to sell in a few years. With a construction loan, “a certain amount of work must be completed to be able to turn in a draw and get money off of the loan,” Wright explains. When budgeting for the project, she also advises adding 10-15 percent for unexpected contingencies. Wright concludes, “Choosing to build can be a challenging process, but the beautiful custom home you create is worth it in the end.”
Whether the goal is to buy, sell, or build your home, the experience will be less stressful and much more enjoyable if you choose the right team members to help in the process and do your homework ahead of time.
Lisa T. Moore
Coldwell Banker Realty
803-348-0601
LisaTMoore.com
James McCutchen
McCutchen McLean, LLC
803-785-4529
McCutchenMcLean.com
Emily Wright
The Wright Group
803-233-3373
TWGSC.com
