Columbia SC home bidding wars have become increasingly common since the housing market turned around. Here are a few tips for buyers and sellers on handling multiple offer situations.
Tips for Winning a Columbia SC Home Bidding Battle
Keep it Clean
The cleaner the offer, the better. That means fewer contingencies or no contingencies. Cash buyers almost always have an advantage.
Don't Overpay
Sometimes losing is winning, if that means not overpaying. Do your homework, and know what a property is worth. Never fall in love with a property to the point where you lose a grip on your common sense.
Be Quick
It pays to snag properties before others make offers. Get out there, beat the bushes and find something others aren't seeing. Make sure your real estate agent knows all of your wants and must-have's so they can keep a keener eye out for your perfect Columbia SC home.
For Sellers
Pricing a property correctly can generate a lot of interest and potentially spark a bidding war. Overprice your property, even a little, and that will almost guarantee that this article won't apply to you, because you won't have multiple offers coming in if you're overpriced.
Make It Human
Sometimes what wins sellers over is a personal letter saying who you are. Try to connect with the seller and not just be a number on a piece of paper. Some sellers take the offer with a letter which was less money than the one without a letter.
Be Ethical
Go back to everyone and give a deadline for all bidders to turn in their highest and best offer. But be honest and ethical. Buyers will recognize a shyster and run for the next Columbia SC home for sale.
We encourage our Columbia SC home buyers not to engage in bidding wars. Let us help you do your homework so as not to find yourself in multiple offer situations. Call us today for a no-obligation consultation on the current state of the Columbia SC home market.
Is it your dream to buy a Columbia SC fixer upper and turn it into a home of your own? While the idea may seem like a good one, there are a few things you should think about first.
Five Reasons To Turn Your Back on That Columbia SC Fixer Upper
Structural Issues
There is a difference between things that won't cost a lot of money and things that will. There is a vast difference, for instance, between replacing kitchen cabinetry and ripping out moldy drywall. For first-time home buyers with little DIY knowledge, cosmetic issues are easy to learn how to fix. Structural issues, on the other hand, will require expensive contractors and months' worth of time and lots of money.
Time
Speaking of time, ask yourself how much of it you have to devote to your Columbia SC fixer upper and how long you can live in a house that's half torn apart.
If one or both of you is able to dedicate 40 hours a week or more to fixing up your home, you can get things completed fairly quickly. If you plan on working your regular job and muddling around the house on weekends, you'll be living with the mess for longer than you expect.
DIY
Do you know how to replace wall studs? Can you tear off and put on a roof with the help of a few friends? If you can, then a Columbia SC fixer upper might be a great idea. If you can't, however, your Columbia SC fixer upper can quickly turn into an expensive nightmare. Don't fool yourself when it comes to your own skills. Painting a wall is different than putting in a dropped ceiling. Refinishing a counter top is different than replacing one. Know your limitations and make sure you aren't getting in over your head on this project.
Money
If you purchase a true Columbia SC fixer upper, you'll won't get away with making repairs for less than 10 to 20 thousand dollars. Many people make the mistake of getting estimates and tacking those costs onto the price of the home to come up with a desired loan amount. It is virtually a guarantee that unexpected expenses will arise. If you sink all of your money into your loan, where will you get the extra money you need for renovations? Also consider that at some point in time, you'll run into a project that you simply can't complete on your own. The contractor that you’ll need to hire will expect to be paid.
Divorce
It may sound extreme, but you will be surprised at how many relationships break up over something as simple as a house. Home buying is stressful enough. The money and time spent on the ordeal is enough to test the resolve of any couple.
With your dream home Columbia SC fixer upper, pressure skyrockets. If your relationship is on shaky ground, avoid a fixer upper at all costs. If your relationship is rock steady, be sure to take the time to discuss choices, money and responsibilities ahead of time. Having a game plan can ease the burden of such a major life event.
If you have the time, money and energy, a Columbia SC fixer upper can be a dream come true. You can get a house with good bones that you can turn into your own. On the other hand, a fixer upper can be the worst move you’ve ever made. Before you decide to buy a home that isn't quite inhabitable, consider whether or not you're really ready to take on the stress and tasks of getting your dream home livable again.
It's safe to assume that everyone knows mold is dangerous to your health, but there are some things you need to beware of when buying a Columbia SC house. Mold is a serious issue, and you need to understand how it can hide.
When it comes to buying a Columbia SC house, the mere mention of mold can easily trigger anxiety attacks, not to mention a string of other 4-letter words not suitable for publication.
Mold can make a house difficult or impossible to sell. Mold can trigger lawsuits. Legal requirements for disclosing mold problems in real estate transactions do differ from one state to the next. But most real estate agents choose to disclose mold issues because it's simply too risky not to do so.
Dealing With Mold When Buying a Columbia SC House
Like any organism, mold seeks out favorable living conditions and avoids conditions that are less than ideal. When you discover mold when buying a Columbia SC house you need to focus on three questions:
What caused the favorable conditions for mold to take hold?
What must be done to change or eliminate the environment for mold?
What are the best ways to remove the existing mold?
When buying a Columbia SC house, keep in mind, mold may not be visible, and in fact, most of the time, is hidden where most people don't just see it plainly on the walls or ceilings.
When buying a Columbia SC house that is discovered to have a mold issue, fixing plumbing leaks, sealing or encapsulating a damp crawl space, waterproofing a basement, installing a dehumidifier, improving bathroom ventilation or any combination of these fixes, may be the solution needed.
Contractors who specialize in crawl space encapsulation and basement waterproofing are the go-to guys for crawl space and basement moisture problems. General contractors or remodeling contractors typically are not your best option for this type of work because they tend to have less experience dealing with mold.
With regard to removing mold, you have two basic options: Treating and cleaning mold from surfaces or tearing out materials that have been damaged by mold. The mold problem is unlikely to recur if effective moisture-management techniques have been used.
If you decide you want to take on a mold issue yourself instead of hiring a professional, here is a good resource on How to Remove Mold.
Be sure when buying a Columbia SC house that you get a professional inspection completed that includes checking and testing for mold. After you buy the house may be too late, especially when your family's health may be in jeopardy as a result of hidden mold.