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South Carolina becomes hotbed for residential real estate sales

In a buyer's market, attractive real estate prices make it very appealing for first-time homeowners to move forward with a purchase. Even though conditions may be optimal for those looking to purchase a home, buyers may still run into trouble if the transaction isn't carefully handled.

Interestingly enough, a recent report shows that South Carolina's Lowcountry is among the nation's hottest residential real estate markets. In particular, the area is considered the best places for buyers when looking at prices and the amount of time buyers have to shop around.

As more buyers consider purchasing a home in Beaufort and other cities in the southern part of the state, they will have to make sure they don't rush into a purchase. Seeing a good deal might be a motivation to move too quickly, which could lead to mistakes that come to roost months or years after the closing is completed. Fortunately, in this particular market, buyers have the flexibility to make sure the terms of the purchase are fair.

At the same time, a buyer's market doesn't always produce the best circumstances for those on the other side of the transaction. Sellers must also be sure that the terms of sale are fair and everything is in order before turning over their property. Depending on the closing agreement, a seller may be responsible for certain property-related expenses, and no one wants to be taken by surprise in this way.

Of course, this report is great news for real estate and the overall economy in South Carolina. As real estate opportunities continue to crop-up, buyers and sellers can do their best to ensure that both parties leave a transaction feeling satisfied.

Source: The Island Packet, "Lowcountry deemed nation's top home-buying market," March 21, 2013

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