Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
South Carolina Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

57
Posts
11
Votes
Josh Carter
  • Real Estate Agent
  • Brooklyn, NY
11
Votes |
57
Posts

Tax Deeds in Charleston

Josh Carter
  • Real Estate Agent
  • Brooklyn, NY
Posted

Hey Everyone!

I'm an investor who has some midwest properties but would like to buy closer to family. I was wondering if anyone had any experience in acquiring properties via tax lien/deed auctions in SC, also are HOA fees only a Myrtle Beach thing or is that more or less statewide? will I have to worry about that in most of Charleston? I see SC is one of the states hit the least by corona, are people in business right now? Looks like businesses in NYC are just starting to prepare to come back.

Most Popular Reply

User Stats

56
Posts
51
Votes
Tony Kohnle
  • Mount Pleasant, SC
51
Votes |
56
Posts
Tony Kohnle
  • Mount Pleasant, SC
Replied

I haven't done any Tax auctions but i am aware that they are subject to redemption by the people who lost the property for a year or two, make sure you know how long and what interest rate they would have to pay/financing you can get before bidding. it also may make a flip less do-able.   

Also read up on "Heirs land" as a lot of these end up on the tax auction rolls and can be troublesome. Basically, its land owned by descendants of former slaves that may have passed through generations without any deed change, so dozens of potential heirs may have claim to it.  

Erik is correct on HOA's but technically incorrect on taxes. Owner occupied homes can assessed at a lower rate (4%) and be exempted from school operating taxes. All other non-industrial properties are assessed at 6% regardless of where the owner lives. The net effect though is that an owner occupied home will pay about 1/3 of what a rental home will pay. Also, a transfer of ownership triggers a reassessment of the property a year after the sale and wipes out any caps or exemptions that may have been in place, so don't assume prior taxes will be anything close to what you would have to pay.

Loading replies...