Buying a Home in Charleston, SC with No Owner Disclosures

Suppose that in the course of buying a home in Charleston, SC, your eye is drawn to a bank-owned home, or a home held in a trust. There are many reasons why you could find yourself buying a Charleston home that’s currently vacant—which can also mean that the usual owner disclosures are not to be had. There are perfectly innocent reasons why this situation develops. Suppose the sellers of the property have just inherited it. How would they know that water tends to pool under the house during a strong rainstorm? Or that unpermitted repairs were made to the electric wiring in the kitchen? 

Are Charleston, SC Home Prices Still Undervalued?

For the past two years national home prices have risen sharply, which might lead to the conclusion that they are overpriced. In fact, if we’re to believe the most recent report by real estate website Trulia, they are still 5% undervalued when measured against long-term fundamentals. So will this summer’s home prices in Charleston, SC be broaching unsustainable levels—or will they be reasonable?