The article concerns the following question – Why Real Estate In South Dakota? Buying real estate in South Dakota is a good idea, simply because of its low cost of living, picturesque tourist destinations, and relaxed lifestyle. Buying and selling of real estate is an important matter for the people involved in such transactions.
For this reason, the South Dakota Real Estate Commission has formulated a consumer guide which allows all buyers and sellers of real estate within the state of South Dakota to be aware of certain rules and regulations, and of their own rights, during the process of these transactions.
A licensee may act as a limited agent of the buyer or seller, only with written consent from the person concerned. According to the rules formulated by the South Dakota Real Estate Commission, a licensee has the following duties:
– To carry out the terms of any written agreement made with the buyer or seller.
– To assist the buyer or seller with considerable skill and care.
– To present all offers between buyer and seller in an organized fashion, regardless of whether the parties concerned have taken any decisions or not.
– To provide helpful advice to buyer and seller
– To keep an account of full money and property received
– To abide by applicable federal, state or local laws and regulations
Although requirements differ from family to family, there are certain common guidelines that all home and property buyers of South Dakota are advised to follow:
– Availability and quality of schools in the area
– Availability of markets and shopping centres
– Distance from work
– The general condition of homes in the neighbouhood
– Property taxes (though tax-payers in South Dakota are generally exempted from personal property taxes)
– Utility rates – like telephone bills, electricity, gas etc.
– Security – police and fire brigade. Also, regular collection of garbage.
– Availability of transportation
The South Dakota Housing Development Authority is an agency created for the function of administering housing programs enabling families in South Dakota, with low or moderate income, to obtain decent and safe housing. Some of these programs offer special incentives to those who are buying homes or properties for the first time.
The South Dakota Real Estate Commission provides complaint forms to persons who wish to lodge complaints. All such complaints must be in writing, in order for the Commission to investigate. All transaction documents must also be enclosed with the complaint. Three forms of action carried out by the Commission are dismissal informal consultation or formal hearing—depending on the seriousness of the cause for complaint.
Apart from the South Dakota Real Estate Commission, the South Dakota Housing Development Authority and the US Department of Housing and Urban Development may also be contacted, in case further help or information is required, regarding real estate transactions. It is very important to understand the process of purchasing and selling real estate before any transactions are made, and the South Dakota Real Estate Commission aims to facilitate just that.