Daniel Island SC Condos For Sale. The condominiums for sale on Daniel Island are fairly vast in their difference from uber-large and luxurious, waterfront condos, apartment-style condos, and townhouses. Search this page for all the MLS Listings for condos & townhomes (a.k.a attached single-family) properties for sale by price, neighborhood, floor, size, age, bedrooms, list date, and more. Below you will find all the different sections, neighborhoods and developments on Daniel Island with all the condos highlighted in dark blue.
Most people do not know that there really isn’t much of a difference between a condo vs a townhouse and that the only distinction really is just legal. However, here in the US we usually think of a townhouse as one that has a front door that opens directly to the ground or beginning level.
MLS Listings Data
|Highest Listing Price:||$3,145,000|
|Average Days On Market:||66|
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Number of MLS Listings 1 - 12 of 21
NEIGHBORHOODS & DEVELOPMENTS OF DANIEL ISLAND
UNDERSTANDING CONDO OWNERSHIP
Many people move to Daniel Island SC or Charleston from many other places to retire, and most have usually owned single-family detached houses so their familiarity with how owning a condominium usually needs some insight. The first thing to know is that condos usually have monthly, (sometimes quarterly) regime fees that cover all the exterior insurances of the development, any amenities, and the upkeep of all exterior materials such as roof, siding, windows, and doors. Owners are required to carry an interior HO-6 policy. These monthly regimes usually range from $250-$1200 depending on the project's construction, amenities and location.
Getting a loan for a condo or a townhouse is much different and oftentimes harder to qualify for. From a lenders standpoint, a community becomes riskier to lend in if the majority of the condo development is comprised of tenants vs owners. A project for which all of the following are true:
- at least 90% of the total units in the project have been conveyed to the unit purchasers;
- the project is 100% complete, including all units and common elements;
- the project is not subject to additional phasing or annexation; and
- control of the HOA has been turned over to the unit owners.
- The owner-occupancy requirement rate required was 50% (Current legislation has dropped to 35%)
- No more than 15% of units be more than 60 days due, excluding REOs. Dues for lender-owned units are rarely received by associations in a timely fashion. Some state laws prohibit the collection of delinquent assessments until 90 days past due, and many association governing documents do not consider owners to be delinquent until 60-90 days. (New law requests 90 days instead of 60)
- No more than 50% of units can be FHA insured already. (NAR requests new legislation increase it to 100%)