Disclosing Charleston Property Flaws Improves Buyers’ Confidence

Imagine that you have just moved into your new Charleston area property, and suddenly you are up against some serious flaw you knew nothing about. Added on top of the normal moving turmoil: now there’s this! You didn’t have a chance to fix things up before you moved in because you were totally in the dark concerning the problem.  Imagine the frustration, disappointment, and anger… Enter: lawsuit.

In other words, for you as a seller, there are some pretty convincing reasons to do unto others as you would have them do unto you.

A disclosure is a written statement describing your obligations under state and local laws regarding property flaws you know about. Your disclosure might include structural defects—like leaking windows or cracks in the foundation. It might include landscaping problems, like a branch that endangers a power line; and in some areas could even include air pollution or other environmental factors beyond your control. Any Charleston property issues that the law specifies must be disclosed before the sale is finalized.

The consequences for not following the law can be serious: they could mean a lawsuit seeking the cost of repairs and other damages. In any case, you will want to insulate yourself from these risks by making sure you’re informed about the state of your property in Charleston, SC and by disclosing issues whether or not they are discovered during inspection.

Full disclosure isn’t just the surest way to protect yourself from future legal action — it also lets you rest easy knowing you’ve done the right thing. Don’t assume a buyer will lose interest in your property because there are flaws. All properties have them, and by helping your buyers make informed decisions on what they want to do before they move in, chances are you’ll boost their confidence about the transaction. You’ll feel good knowing that you treated your buyer as you’d want them to treat you, and you’ll feel even better knowing that some non-disclosed property issue won’t come back to haunt you.

Preparing to sell this winter?  Contact me today to get your home listed and sold!

Interested in selling your Charleston area home? Visit: www.jeffcookrealestate.com

Interested in buying a Charleston area home? Visit: www.discovercharlestonareahomes.com

-Jeff Cook

Jeff Cook Real Estate

Charleston, SC

Buying a Home in Charleston: Look to the Fundamental Four

Buying a home in Charleston, SC is hardly a do-it-yourself kind of project. Having confidence that the all the i’s are dotted and the t’s crossed requires the input of professionals whose daily dealings keeps them in touch with the current legal and financial arenas.

Call them the “Fundamental Four” — the four groups of professionals you will want to have on your team when buying a home in Charleston, SC this winter.

First and foremost, you need to be sure the money factor is handled in an advantageous way. By far the most popular route is via a mortgage: a home loan. Your specialist here is the professional mortgage broker. He or she will advise you on the types of mortgages available this winter; will work with you to determine the amount you qualify for, the different payment plans you can choose, and guide you through the maze of paperwork.

A real estate agent does more than just sparing you the trouble of going through the listings to find a suitable home. Yes, your agent will help you identify local homes for sale that suit your budget and preferences, but will also be a vital part of the negotiating process and the disclosure and associated paperwork. Your agent is actually the professional who ties together the work of all your other consultants.

The inspector is your expert when it comes to verifying the quality of the property itself. He will inspect and prepare a comprehensive report on every critical physical aspect. Buying a home can’t be a guessing game when it comes to the state of the structure itself: your inspector will help you determine if it fits the price tag.

The title/escrow company facilitates the actual transaction itself, which can be a bit more complicated than you might think. They will prepare all the legal documents after inspecting the title of the property, and, via contract, oversee the timing as the home is transferred from the seller to you.

Thinking of buying a home in Charleston,SC this winter?  Start with the information that’s just a phone call away.  Contact me today!

Interested in selling your Charleston area home? Visit: www.jeffcookrealestate.com

Interested in buying a Charleston area home? Visit: www.discovercharlestonareahomes.com

-Jeff Cook

Jeff Cook Real Estate

Charleston, SC

First-Time Charleston Home Buyers Easily Avoid Common Blunders

According to the National Association of Realtors^®, nearly 40% of home buyers will be first-timers this year. In other words, if you are new to the housing market you are certainly not alone. Since first-time home buyers in Charleston, SC experience the same learning curve as anyone everywhere, reviewing some of the more common missteps can spare them some of the angst those common mistakes cause. Some examples:

 1) They Don’t Check Their Credit Score

New home buyers focus on the seller’s asking price, but don’t realize how greatly their credit score will affect how much they actually pay. They know their score is important to qualify for a home loan, but not how a low credit score can result in a higher down payment and interest rate. A single percentage point of higher interest over a 30-year timeframe is…you get the picture! The takeaway? Start improving your credit score as soon as possible.

2) They Don’t Lay Out a Budget 

Charleston first-time home buyers frequently don’t realize the impact of secondary costs. In addition to administrative, insurance and legal costs, there are also closing and other fees which can add 2%-5% to the purchase price. Add in property taxes and possibly monthly neighborhood homeowner’s association fees, and you can see why experienced home buyers first determine their maximum monthly budget figure — then stick to it.

3) They Don’t Double-Check the Neighborhood

Once you’ve set your sights on an exciting new home, it’s natural to quickly proceed to the purchasing details without second-guessing your choice. That’s all well and good — unless you have only visited it a few times, and all at the same time of day or day of the week. Make several return trips to the neighborhood on weekdays and weekends, daytime and nighttime: you want to be sure that your family will be comfortable with the neighborhood (and your future neighbors).

If this winter will find you searching for your new house, I want you to know that I’m here to help my clients every step of the way. Calling me for a consultation is your first step!

Interested in selling your Charleston area home? Visit: www.jeffcookrealestate.com

Interested in buying a Charleston area home? Visit: www.discovercharlestonareahomes.com

-Jeff Cook

Jeff Cook Real Estate

Charleston, SC