When most
people picture how they will buy a Charleston, SC house, they imagine visiting
properties with their real estate agent, zeroing in on a suitable home in a
neighborhood they like; making an offer; purchasing the home.
But there are also less straightforward ways to go about
buying a Charleston area house. One way people purchase houses today is at a Charleston,
SC town auction. Homes usually go on auction because they have been foreclosed
upon or have unpaid tax liens; but there are any number of possible reasons.
For the buyer, a real estate auction presents an opportunity — but also hurdles
to clear.
A first possible drawback can be a real showstopper: the
relative difficulty of thoroughly checking out the home’s interior. When it
proves impossible to inspect inside, some research about the neighborhood, the
history of sales in the area, and even visiting other open houses in the
neighborhood can give some feel for what comparable neighborhood homes are
like.
Too,
auctions in Charleston are usually geared toward cash buyers. In many cases,
companies require you to register before you may join the bidding. As with car
auctions, it’s almost always necessary to come prepared with cash (in the form
of certified checks). Most auctions require the entire sum to be paid
immediately, while others specify a set portion or amount. In short, Charleston
real estate auction buyers need to have done their homework beforehand.
There can
also be vagaries in timing. For any homebuyer who needs to move in right away,
an auction may not prove to be a feasible option. Especially with foreclosures,
if the home is not vacant at the time of auction, the eviction process can turn
into a lengthy court battle if the occupants are unwilling to leave.
Buying a
home through a Charleston, SC auction can be a great way to nab a home at a
bargain basement price, but being aware of the complicating factors is a must.
There are many ways to find the perfect home – and I’m here to help guide my
clients through the choices that will work best for them.
Interested in selling your
Charleston area home? Visit: www.jeffcookrealestate.com
Interested in buying a Charleston
area home? Visit: www.discovercharlestonareahomes.com
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