Whether your search is for a new house or you are interested in real estate investments, you could choose to look at a scheduled auction in Columbia, South Carolina. This two-story 4-bedroom, 2-bathroom house, which is at 300 Harrow Drive, also features an adjacent property.
This auction could be a fantastic chance regardless of your level of experience with investing or buying for first time. The salient features of the auction—including the property description, auction procedure, and terms you should be aware of before bidding—will be covered in this page.
Property Overview: 300 Harrow Drive, Columbia, SC
Located on a corner property in the Whitehall area of Columbia, South Carolina, the auction showcases a two-story 1969 house. Along with an extra.6± acre adjoining lot, the property has a 4-bedroom, 2-bathroom brick house with a two-car garage. Although the property needs some repairs and cleaning, its large layout and excellent location could make it a good investment for the correct buyer.
Location Details
- Property Address: Columbia, South Carolina 29210, 300 Harrow Drive
- Neighborhood: Whitehall, a peaceful Columbia, South Carolina residential district
- Zoning: Usually allowing single-family residential use, the house and the adjacent lot are classified R-1.
For anyone looking for room in a developing neighborhood, the lot sizes and location present a great prospect. The house offers quick access to surrounding facilities by sitting at the junction of Tram Road and Harrow Drive.
Key Property Features and Condition
Originally constructed in 1969, the house exhibits age and most of its interior finishes reflect originality. This means that even if the house might require some upgrades, it offers a strong basis for any modifications or additions you could wish to undertake. For a family, the two-story house features four bedrooms and two bathrooms—perfect. It also features a two-car garage for handy parking or storage.
Condition
- Home: Though it will require some upgrading and cleaning, the house is functionally sound. Many of the interior finishes are old, hence there could be places needing repairs.
- Adjoining Lot: The unoccupied 6.6± acre lot offers more area for outdoor recreation or future building.
Auction Details and Process
This property is auction online, hence you may bid from the comfort of your house. However, before placing a bid, there are several steps you need to follow to ensure that you meet all the requirements. The salient features of the auction consist in these elements:
Auction Start and End Dates
- Bidding Opens: Friday, December 13, 2024, at Noon ET
- Bidding Ends: Tuesday, January 28, 2025, at 2 PM ET
Inspection
- Inspection date: Friday, January 24, 2025 from Noon until 3 PM ET (by appointment only)
- Before you register for the auction, you have to look over the land. If you cannot make it personally, get in touch with the auction manager to set a meeting.
Terms and Conditions of the Auction
Before taking part in the auction, bidders should be informed of numerous significant terms and restrictions. These cover buyer’s premium, payment criteria, and other crucial auction specifics:
Buyer’s Premium
- Your bid will be adjusted with 10% Buyer’s Premium to ascertain the ultimate selling price. For instance, adding the 10% premium results in the final price of $110,000 from a bid of $100,000.
Deposit and Payment
- Ten percent of the winning bid must be deposited earnest money following the auction. Escrow will house this deposit until the transaction is finished.
- Payment Method: Closing calls for the rest of the purchase price paid via wire transfer.
Closing Deadline
- Unless agreed upon otherwise, the transaction has to be finished by February 28, 2025.
Financing
- Financing Is Not a Contingency: This auction does not let financing contingency, so all bidders have to be ready to buy the house without depending on loan approval.
Property Taxes and Appraised Value
Before bidding, it’s helpful to know the tax appraised value and property taxes for both the house and the adjoining lot:
- 2024 Tax Appraised Value:
- House: $192,963
- Lot: $17,250
- 2024 Property Taxes:
- House: $5,019.79
- Lot: $450.96
Broker Participation and Commission
Should you be a real estate broker, you could be qualified for a 2% commission should you effectively register and help a buyer to purchase the home. Brokers must register early, though, and all registration paperwork must be turned in before the auction date.
Important Auction Details
- Once the auction shuts, there is no chance for extra due diligence or inspections.
- The property is being sold “as-is,” which means the buyer takes it in its present state free from assurances or warranties.
- Title transfer and closing procedure will be handled by escrow agent Henrietta Gill.
Key Takeaways for Bidders
For people wishing to buy a house in Columbia, South Carolina, this auction presents an interesting chance. A family or investment project would have enough of room in the 4-bedroom, 2-bathroom house and adjacent property. Still, you should thoroughly check the quality of the property and the auction terms before taking part in it.
To guarantee a seamless bidding experience, make sure you finish the inspection and get ready the required documentation. Remember, the auction is online only; so, register early since the bidding procedure concludes on January 28, 2025.
You Must Visit :- Schott Auction Gallery