7 Mistakes Charleston Homebuyers Make Before Writing an Offer

Finding a house you love in Charleston is exciting.

But finding the house is only part of buying it.

Some of the most expensive mistakes we see happen before the buyer ever signs an offer.

Whether you're buying in Charleston, Summerville, Goose Creek, Moncks Corner, Mount Pleasant or elsewhere in the Lowcountry, here are several things buyers should understand before making a move.

1. Shopping Only by Purchase Price

A home's list price does not tell you what the home will actually cost to own.

Two homes priced exactly the same can have very different monthly expenses.

Before making an offer, consider:

• Property taxes

• Homeowners insurance

• Flood insurance when applicable

• HOA dues

• Maintenance

• Commute expenses

• Utility costs

This becomes especially important when comparing communities throughout the Charleston area.

A lower purchase price farther from work may come with a longer commute. A newer subdivision may include HOA expenses. A coastal property may have different insurance considerations.

Compare the total ownership picture, not just the asking price.

2. Not Understanding South Carolina Due Diligence

Buyers relocating from another state are often surprised by the South Carolina contract process.

Under the commonly used South Carolina REALTORS contract, buyers and sellers may negotiate a due diligence period. During that period, the buyer can investigate the property and potentially negotiate repairs or other changes.

The contract also provides for a negotiated termination fee if a buyer elects to terminate under the due-diligence provision.

That makes the dates and dollar amounts in your offer extremely important.

Do not treat due diligence as another piece of boilerplate.

Understand exactly what you are agreeing to before you sign.

3. Falling in Love Before Investigating the Property

Beautiful photos do not tell you:

• How old the roof is

• How the HVAC has been maintained

• Whether moisture exists underneath the home

• Whether past termite activity exists

• Whether drainage becomes a problem after heavy rain

• Whether the property sits within a flood-risk area

The goal is not to find a flawless house.

The goal is to understand what you're buying.

4. Ignoring Insurance Until the End

Insurance should not be an afterthought when buying in the Lowcountry.

Flood exposure can vary from property to property—even within the same neighborhood.

Standard homeowners insurance generally does not cover flooding, and lenders may require flood insurance for homes within designated Special Flood Hazard Areas. Lenders can sometimes require coverage outside those areas as well.

Before becoming deeply committed to a property, understand what insuring it may cost.

5. Assuming New Construction Means No Inspection

New does not mean perfect.

New-construction buyers can still encounter issues involving:

• Grading

• Drainage

• HVAC

• Plumbing

• Electrical work

• Windows and doors

• Roofing

• Cosmetic completion items

Having a builder warranty does not eliminate the value of understanding the home's condition before closing.

6. Writing the Offer Before Understanding the Neighborhood

A house can look perfect online while its location is completely wrong for your daily life.

Before submitting an offer, ask:

What will my commute really look like?

Drive it at the time you expect to travel.

Also investigate:

• Planned development

• HOA restrictions

• Nearby commercial construction

• Road expansion

• Neighborhood amenities

• Flood considerations

Buying the right house in the wrong location rarely feels like the right decision for long.

7. Waiting Until Closing to Ask Questions

South Carolina real estate closings involve a licensed South Carolina attorney. The South Carolina Supreme Court has held that legal aspects of residential real estate transactions—including title work, document preparation, closing, recording and disbursement—must be performed or supervised by a South Carolina lawyer.

That process may be different from what an out-of-state buyer experienced previously.

Ask questions early.

Your agent, lender, inspector, insurance professional and closing attorney each have different roles in helping you understand the transaction.

What Can Complicate a Charleston Real Estate Deal?

Transactions can become more difficult when issues arise involving:

• Financing

• Appraisals

• Inspections

• Insurance

• Flood considerations

• Wood-destroying organisms

• Repairs

• Title

• HOA information

• Missed deadlines

Many of these issues are manageable when they are identified early.

That is one reason experienced representation matters.

Buying a Home in Charleston?

The Haynes Team helps buyers throughout Charleston, Mount Pleasant, Summerville, Goose Creek, Moncks Corner and surrounding Lowcountry communities.

We don't believe buying a home should simply mean receiving an automated list of properties.

Our goal is to help you understand the property, the location and the transaction before you make one of your largest financial decisions.

Ready to start your Charleston-area home search?

Visit HaynesTeams.com and connect with the Haynes Team.