For the most part, hurricane Florence passed by our area with very little storm impact. A few strong wind gusts and high surf caused minimal destruction to property and beaches. After the storm,
What To Know When Building A New Home In South Carolina
Building a New House? Congratulations! Building a new home is an exciting time and can be a great experience as you customize the layout and interior of a home built just for you and your family.
So what do you really need to know? To start, did you know that if you walk into a model home, or any open house for that matter, in South Carolina and sign a contract to build or buy a home with the home builder's representative or the agent at the open house, the seller or builder, is already represented but you may not be. Agency Law in South Carolina states that until the buyer signs an agreement with a real estate agent to represent them in buying a home, all real estate agents represent the seller.
"But it will cost me more money to have a Realtor help me buy a Home" is the response heard a lot. However, this is not a true statement and can actually cost the buyer a lot of money. The Buyer's Agent commission or cost is, in most cases, paid by the seller or builder, as detailed in their contract to sell the property when listed for sale to the public. If the Seller or Builder, does not have to pay the Buyer's Agent fee than most likely those funds will default to the seller's agent or the builder's representative, who is already representing the seller or builder.
Ok, but then you think: "I know what I'm doing" or "What could go wrong"? Even if you have bought or sold homes in the past, if you are relocating, do you really know the right questions to ask? Do you know what the future holds for the area? Do you know what taxes, regime fees, and HOA fees are and what they include? Are the amenities of the neighborhood available now and are they included in the HOA fees or are there extra fees to use the golf course, swimming pool, tennis courts? Did the lot you purchase allow for the elevation of the home you contracted for? Will you be required to pay flood insurance or earthquake insurance? What infrastructure improvements are in place and how will they impact you? Are you allowed to put a fence in the backyard? And the list of questions continues.
So, long story short...if you are buying an existing home or building a new home, at least in South Carolina, you might be wise to consider finding a Realtor to represent you in the purchase of your home. Chances are it will be a great investment of your time, save you money, and you will not only have an experienced Realtor to help you through the process, but you will already know at least one person when you get here.
South Carolina is a beautiful place to live and work! Join us! We look forward to having you as a new neighbor!
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Hank Johnson, a graduate of The Citadel, has a proven track record as a CFO, businessman, Entrepreneur and real estate investor. Hank has been active and successful in the Charleston community for ove....