Buyers......... Due the do!!!

By
Real Estate Agent with www.ExploreBeaufortRealEstate.com (Ballenger Realty) 27941

I met with two buyers today. They were separate parties looking at different properties. One of the fun things about real estate is the opportunity to work with a variety of people. Trust me when I tell you It is never dull.
Buyer A is considering an investment property in the Beaufort Historic District, while Buyer B is thinking about a non-historic home, which he and his family would live in. Buyer A would be a cash transaction, while Buyer B would involve financing.
Although these folks are going in totally different directions, they have something in common. I would strongly encourage each party to"do the due."
The "due" is due diligence, and it needs to be done prior to settlement.
Proper due diligence could involve making sure a boat dock can be constructed on that beautiful, tidal creek property you've got your eye on.
Maybe you would like to purchase a piece of property, and then develop it. Doing the due will help establish whether a property is eligible for subdivision, and whether you can achieve the desired density of homes that would make your project a success.
Let's look at today's buyers.
Buyer A was looking at a property in the Beaufort Historic District. Some of the due diligence involved here might involve determining whether their desired improvements will be allowable by the City of Beaufort Historical Review Board. The HRB is charged with overseeing the architectural integrity and preservation of the downtown Beaufort area.
Just a couple of weeks ago, some clients of mine wrote an offer which was contingent on the HRB approving a specific re-design plan for the home. We met with the city, and I attended two HRB meetings on behalf of my out-of-town clients. My clients did the due.
Buyer B wondered out loud today if he could build a privacy fence behind his prospective house. Our due diligence might be to ensure there are no neighborhood covenants which would prevent a fence from being constructed.
Likewise, a boundary survey could reveal whether any property line problems exist, which might prevent the construction of a fence.
Our South Carolina real estate contract allows buyers opportunity to conduct reasonable due diligence. I strongly encourage you to utilize the opportunity to conduct your due diligence.
Don't take anything for granted. Do the due.

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Rainmaker
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Cherimie Crane
Cherimie Crane & Associates - Beaufort, SC

Excellent point!! Congrats on having A and B buyers!!!

Nov 12, 2008 11:41 PM #1
Rainmaker
123,931
Chris & Maria Skrip
RE/MAX 1st Advantage - Beaufort, SC
Beaufort, Bluffton, Hilton Head, Sun City SC

Very true statements - especially in Beaufort and coastal areas about the docks on tidal creeks, marshes, etc.

Nov 13, 2008 04:00 AM #2
Rainmaker
152,305
Keith Strawn
www.ExploreBeaufortRealEstate.com (Ballenger Realty) - Beaufort, SC
www.ExploreBeaufortRealEstate.com

Cherimie, I had Buyer A and B, but I should probably identify them as Prospect A and Prospect B, until further notice.

Nov 14, 2008 02:58 AM #3
Anonymous
Jennifer

It is good to know that people are out there looking!  keep up the good work!

Nov 20, 2008 11:23 AM #4
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Rainmaker
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Keith Strawn

www.ExploreBeaufortRealEstate.com
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