Posts

Market Summary Thru May 30, 2014

Market Summary Thru April 30, 2014

Market Summary Thru March 31, 2014

Market Summary Thru February 28, 2014

Homes for Sale in Timberline Meadows Sumter, SC

Why Do People Live Here?

Timberline Meadows is a beautifully laid out subdivision featuring a landscaped entrance and roads.  Timberline Meadows is located close to the town of Sumter and is a very easy drive to Shaw.  Timberline Meadows has a pond with shared access by some homeowners.  Many of the homes feauture large inviting front porch .     

Looking for a Home in Timberline Meadows?

Interested in finding homes for sale in Timberline Meadows in Sumter, SC?  Click this link to view the homes in this area of Sumter.

What’s the Neighborhood Like?

The homes in Timberline Meadows generally range in size between 2125...

Market Summary Thru January 31, 2014

Buying a Foreclosed Home in Sumter, SC Part 10

Flooring Decisions

During the purchasing process and the determination of why you are purchasing a foreclosure, flooring is a consideration  What type of flooring is currently in the home?  Is there a different type of flooring under the carpeting?  And then what type of flooring do you want in the house after the rehab? 

Depending on the age of the home, there may be hardwood flooring under the carpets in the house.  This was the case in the property that we purchased.  Underneath the carpet in the three bedrooms there was hardwood flooring that needed to be refinished, but otherwise was in good shape.  So for us the decision w...

Buying a Foreclosed Home in Sumter, SC Part 9

The Day is Finally Here!

November 22nd came and we were finally able to close on the foreclosed property.  I wasn’t a happy camper on that day due to the fact I had to drive all the way to Columbia to sign the paperwork.  Many real estate attorneys will do mail off closings, but this attorneys’ office had a strict policy against it. 

Most real estate closings involve sitting with a closing attorney and signing all the documents required by the lender, the attorney and anyone else involved in the transaction as well as any legal documents.  Most of the closing package requiring signatures is for the lender.  Those documents include...

Buying a Foreclosed Home in Sumter, SC Part 8

What a Mess and I’m not talking about the house!

At the beginning of November, I scheduled out my blog post topics for the month.  Little did I know what a difference this post topic would turn out to be. 

By this time on November 18th, we should have closed on the property taken possession and been working on the repairs.  Little did I know that we would be still waiting to close and wondering when it is going to take place!  The original closing date was November 13th.  As that approached and the contract would no longer be valid, we did an extension agreement with the ...

Market Summary Thru December 31, 2013

Buying a Foreclosed Home in Sumter, SC Part 7

What Kind Of Windows are These?

When looking for a foreclosed home in Sumter, SC a buyer needs to be aware of the type of windows that are in the home.  Most newer homes have vinyl double pane windows.  These windows are currently the choice of most builders.  While not being the top of the line, the vinyl windows are the standard and used as replacement windows in most homes.  Vinyl windows typically have the dividers between the glass and the bottom window will tilt out for easy cleaning.     

When you get into older homes you run into either wooden windows or aluminum w...

Buying a Foreclosed Home in Sumter, SC Part 6

Breaking Even, Making Money or Having Instant Equity

In the last post about buying foreclosed property in Sumter, SC, I wrote about the most common reasons buyers purchase a foreclosed home.  The “flipper” is normally the investor who wants to buy the property at the lowest price possible and then make improvements and sell for the highest price possible.  The “owner occupant” and the “investor” are two buyers that are still looking for a good deal, but they are not as concerned with making the necessary repairs and improvements and reselling the house as quickly as possible. ...

Buying a Foreclosed Home in Sumter, SC Part 5

The Reason for Buying a Foreclosure

Things are quiet with the purchase of the Sumter, SC foreclosure as we are waiting for the checks to clear the bank and the paperwork to get processed.  We are on track for closing November 13th (a Wednesday, for all those who are superstitious) and getting geared up for the work that needs to be done.

So for the next few posts in this series, I am going to cover some other information about buying foreclosures.  This post is about the reason behind buying foreclosures or the type of buyers.   There are many reasons to buy a foreclosure a...

Buying a Foreclosed Home in Sumter, SC Part 4

Inspections with Electrical Power…..  Please Connect the Utilities

Originally Posted on ActiveRain.com by Kim Peasley-Parker

Many times it is the responsibility of the purchaser to have the utilities turned on at a Foreclosed property in Sumter SC and many other areas of the country for inspection purposes.  If you have been following my series, you are aware that I am purchasing this foreclosed property for an income property.  So I am the one in the hot seat.  When I completed the offer, I had a 10 Business Day Due Diligence.  When everything was agreed upon, the addendum from Fannie Mae said 10 calendar days for inspections.  I was...

Buying a Foreclosed Home in Sumter, SC Part 3

Home Inspections

Originally Posted on ActiveRain.com by Kim Peasley-Parker 

Last week the posts were about making the offer and then accepting the counter offer from Fannie Mae.  Moving forward in the buying process is the ten days inspection period.  During this inspection period, the buyer may have the property inspected for any of the types of inspections listed below.  Since this is a foreclosure the buyer is responsible for all the inspection costs. 

·     Termites and other Wood Infestations – very important in South Carolina and required by most lenders.  For an investor, just a great idea before you close on the house and re...

Buying a Foreclosed Home in Sumter, SC Part 2

Originally Posted on ActiveRain.com by Kim Peasley-Parker

If you read my first post about purchasing a foreclosure you know that the tables were turned on me and it was my turn to sign the paperwork to make an offer on purchasing a home.  After much thought, I signed the paperwork uploaded it with the HomePath offer and hit the submit button.  

I will admit, that evening I kept checking my email.  I check the HomePath.com website for any news.  But nothing changed except it said “Submitted”.  Ok, off to work the next day, and yes HomePath.com was an open tab on my browser.  I would click over and refresh, oh maybe ever 30 minutes if...

Market Summary Thru November 30, 2013

Market Summary Thru May 31, 2012