Charleston, Sc Real Estate - How to Find and Buy the Best Deals

Asset - Charleston, Sc Real Estate - How to Find and Buy the Best Deals

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Prices of homes for sale in Charleston, South Carolina significantly declined in 2009. On average, Charleston area home values are about 15% lower compared to 2008. The lower property values have caught the attentiveness of international and local home buyers searching for remarkable deals on Charleston properties. If you want to find a great deal on home in the Charleston area you are not alone. The best priced homes in areas like Mount Pleasant and downtown Charleston are receiving complicated offers a few days after listings for sale on Mls.

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The mixture of truly historic market conditions and the media hype have created both risks and opportunities for today's home buyers. There are a few things you can do to take benefit of the market and avoid the many pitfalls.

First, do your homework. Investigate Charleston real estate online and find a Charleston real estate agent to show you houses and neighborhoods. Your real estate agent must understand your neighborhood and home preferences. Once you narrow your home quest and target your top 5 neighborhoods in Charleston your real estate agent should give you up-to-date market reports for each neighborhood, supply homeowners connection documents and send new home listing updates.

Second, you must be pre-approved for a mortgage and have the significant down payment. If you are not yet in a position to buy find out why and fix the problems. If you have a home to sell before you can take benefit of the current buyer's market selling your home should be your first priority. Sell stocks and other assets that will need to be liquidated to have the funds ready to buy a home.

Third, you need to have realistic expectations. If you want to find a great deal on a home in Charleston you should be willing to make some minor repairs and updating. Foreclosures or bank owned properties in Charleston often want the new homeowners to make expansive repairs after closing. If you are buying a "short sale" in Charleston, plan on the windup taking at least 90 days after the contract has been ratified. Banks negotiate, approve and sometimes reject real estate contracts to buy both short sale and bank owned properties. Again, your Realtor will be able to estimation when your windup should take place.

Finally, do not get discouraged. Even if your offer is the first one submitted on a home the sellers may receive more favorable offers from other buyers and reject yours. It is often significant to submit offers to buy complicated homes for sale in Charleston to get a great deal. Some of the best deals in the Charleston real estate market are short sales which, for various reasons, do not sell to the first buyer with a ratified contract.

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