In South Carolina, “transfer tax” and “deed stamps” refer to the same closing cost — a government fee paid when real estate ownership changes hands. Officially, the state calls it the Deed Recording Fee, but you’ll hear locals, attorneys, and agents use terms like “deed stamps,” “documentary stamps,” or “transfer fee” interchangeably. /*! elementor - v3.23.0 - 15-07-2024...
Santee
Yes — in South Carolina, sellers of most residential real estate are legally required to provide a written Property Condition Disclosure Statement to potential buyers. This requirement comes from the South Carolina Residential Property Condition Disclosure Act (S.C. Code Ann. § 27-50-10 et seq.), which is designed to help buyers make informed decisions.The law applies to the sale of most residential...
In short: No, the option period and inspection period are not exactly the same — but they often overlap in function. In South Carolina, the term “inspection period” is more commonly used. In contrast, “option period” is a term mostly used in states like Texas.However, both refer to a timeframe early in the homebuying process when the buyer can inspect the property and potentially walk away from...
An Earnest Money Deposit (EMD) is a good faith payment made by a homebuyer when they sign a purchase agreement. It shows the seller they’re serious about buying the property.In South Carolina — including hot markets like Lake Marion, Santee, and Eutawville — an EMD is typically 1–3% of the home’s purchase price, but the amount is negotiable. The money is held in a trust or escrow account until...
Dual agency occurs when one real estate agent (or brokerage) represents both the buyer and the seller in the same real estate transaction. Instead of each side having their own agent, one party handles both.In South Carolina, dual agency is legal — but only with written, informed consent from both parties.While it may sound convenient, dual agency raises serious questions about loyalty, negotiation...
A contingent offer means a buyer has agreed to purchase a home — but only if certain conditions are met first. These conditions, or “contingencies,” must be satisfied before the sale becomes final. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img{width:48px}.elementor-widget-image...
In real estate, a fixture is any item that was once movable but is now permanently attached to the property. Think of things like built-in appliances, ceiling fans, or wall-mounted shelving. Fixtures are considered part of the real property and typically stay with the home when it’s sold — unless stated otherwise in the contract. /*! elementor - v3.23.0 - 15-07-2024...
Title insurance protects homebuyers and lenders from financial loss caused by title defects, liens, or legal claims that may arise after closing on a property. It’s a one-time purchase made during closing that covers you for as long as you own the home.In other words: title insurance is your legal shield. It ensures no one can come back later and say, “Hey — that property is actually mine,” or...
Real property consists of land and anything permanently attached to it — like a house, garage, or dock. Personal property refers to movable items that aren’t permanently attached — like furniture, appliances, or décor.When buying or selling a home near Lake Marion, knowing what’s included in the sale — and what’s not — can prevent costly confusion. /*! elementor - v3.23.0 - 15-07-2024...
The Homestead Exemption in South Carolina is a property tax reduction available to homeowners who are 65 years or older, legally blind, or totally and permanently disabled — and who have lived in their home for at least one year. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a...