Joye Hollis Ridgeway, REALTOR in Charleston, SC

Meet one of Charleston's oldest citizens !! The Charleston Hat man. Can you count the hats ? It is reported that the clown-like Hat Man was first painted around 1892 to advertise the wares of the haberdashery therein. Sixteen hats of twelve styles compose the hatman. Can you find the Rebel hat, the Confederate hat, or the British sailors hat ? The hatman is located on the corner of Church and Broad streets in Charleston, SC.

In today's market, everyone is looking for a deal, a steal, or a real bargain. The atmosphere is abuzz with terms that are unknown to the discriminating buyer. For the bargain shopper, these descriptions below will help make an informed decision. Below are some basic terms relating to real estate. Call me for a complete list of Foreclosures, Short sales and HUD properties in the Charleston, SC area. Lists are also on my web-site: www.CallJoye.com

Bank Foreclosures are houses in which the homeowner has defaulted on mortgage payments and the bank has assumed ownership. The procedure for purchasing a bank owned property is different than purchasing a house that is owned by the seller. These properties are listed in the MLS and the purchase involves the bank (the seller), a real estate agent, and the buyer. A pre-foreclosure is sometimes up for auction at the county courthouse. Often times, the bank buys the property back and then later sells the property as a bank owned property. Due to defective or clouded titles, caution must be used when buying a home from a courthouse auction.

Short Sale means that when the owner must sell his house, the money he would receive is less than the mortgage balance, thus coming up short of funds for the mortgage pay-off amount. Homeowners and mortgage companies agree upon the difference. The bank governs the purchase procedure and requires acceptance of a special addendum. The property is listed in the MLS by real estate agent. The bank must approve the sale between the homeowners/sellers and the buyers.

HUD properties are houses which the FHA mortgage has been foreclosed upon (homeowner defaulted on mortgage payment, HUD took over property). The property has been turned over to a real estate management company who specializes in selling HUD owned properties. Even though the HUD houses are listed in the local MLS, the purchase procedure is also different than buying a house that is listed the MLS. A real estate salesperson is required to broker the transaction.

Call Joye 843-270-8665 for a detailed list of HUD, Foreclosures, and Short Sale properties and more detailed explanation of all three situations.

I am often asked: "Do I live in Charleston City or Charleston County?"

"Who do I contact, the city or the county?

"What's the difference ?"

"If I live in the city, why do I have county services ?"

Basically, Charleston City and Charleston County are two branches of government, each performing different services for the citizens.

While the city provides specific services to its residences, the county provides specific services to ALL Charleston county residences, in the city or outside the city.

The CITY provides: Law enforcement

Roads

Drainage

Planning

Public parks

Trash pick-up

Municipal courts

The COUNTY provides: Public libraries

Public parks

Boat landings & beach parks,

Mosquito control

Landfill & incinerator

Recycle pick-up

Voter registration & elections

Court systems: The Courthouse,

Family Court

Circuit Court

Criminal Court

Public safety: EMS

Emergency operations center

Jail and Juvenile Detention center

School crossing guards

Drug and alcohol treatment to residences via Charleston

Center

If you aren't sure who to contact, call either entity. They will assist or direct you in finding the appropriate resource.