How to Buy or Sell Property in South Carolina

What You Need to Know Before You Start

Buying or selling property in South Carolina involves several steps, different costs depending on where you are in the state, and specific rules about disclosure, inspections, and closing. The process typically takes 30 to 45 days from offer to closing, though it can move faster or slower depending on financing and inspections. Understanding what happens at each stage—and what documents you'll need—helps you avoid surprises and know what to expect when you work with a real estate agent or attorney.

South Carolina does not require you to use an attorney for a real estate transaction, but many buyers and sellers do, particularly for the closing process. The state also has specific rules about what sellers must disclose about the property's condition, and buyers have the right to inspect before committing to the purchase.

Key Takeaways

• South Carolina real estate transactions typically take 30 to 45 days from accepted offer to closing, with timing affected by financing, inspections, and title work.
• Sellers must provide a Property Condition Disclosure form that lists known defects; buyers have the right to inspect the property and request repairs or credits before closing.
• Closing costs in South Carolina vary by location and loan type but typically range from 2 to 5 percent of the purchase price for the buyer.
• Title insurance, property surveys, and homeowners insurance are common expenses; some are required by lenders and some are optional but recommended.
• Working with a real estate agent is common but not required; you can also buy or sell without one, though you'll handle marketing, showings, or negotiations yourself.

The Steps from Offer to Closing

Once you and a seller agree on price and terms, you sign a purchase contract. This contract includes the offer price, earnest money deposit (typically 1 to 3 percent of the purchase price, held in escrow), inspection period, financing contingencies, and closing date. South Carolina law gives you a specific time window—usually 10 to 14 days—to inspect the property and request repairs or credits if problems are found.

After inspection, the seller can agree to your repair requests, offer a credit toward closing costs, or refuse. If you cannot reach agreement, you can walk away and recover your earnest money. Once inspection is complete and any disputes are resolved, you move to the financing stage. Your lender orders an appraisal and title search. The title search confirms the seller actually owns the property and that no liens or claims are attached to it. This typically takes 7 to 10 days.

In the final week before closing, you receive a Closing Disclosure form from your lender that lists all final loan terms, interest rate, monthly payment, and closing costs. You review this carefully to confirm it matches what you agreed to. On closing day, you sign documents at a title company or attorney's office, transfer funds, and receive the deed.

What Sellers Must Disclose

South Carolina requires sellers to provide a Property Condition Disclosure form before or at the time of contract. This form lists known defects, previous damage, repairs, and other material facts about the property. Common disclosures include roof condition, foundation issues, plumbing or electrical problems, pest damage, previous flooding, and whether the property is in a flood zone.

Sellers are required to disclose what they actually know, but they are not required to hire an inspector or investigate. If a seller fails to disclose a known defect, the buyer may have legal recourse after closing. This is one reason inspections are so important—they uncover problems the seller may not have disclosed or may not have known about.

Inspections, Appraisals, and Title Work

A home inspection is not required by law, but most buyers order one within the inspection period stated in the contract. A licensed inspector examines the structure, roof, foundation, plumbing, electrical, HVAC, and other systems, then provides a detailed report. The inspection typically costs $300 to $500 and takes 2 to 3 hours. If major problems are found, you can request the seller make repairs, offer a credit, or renegotiate the price.

Your lender orders an appraisal to confirm the property is worth at least the purchase price. If the appraisal comes in low, you may need to renegotiate, increase your down payment, or walk away. An appraisal typically costs $400 to $600 and takes 7 to 10 days.

Title insurance protects you against claims that someone else owns the property or has a lien on it. Lenders require title insurance as a condition of the loan. The title company conducts a search of public records going back decades to confirm ownership and identify any claims. Title insurance is a one-time cost, usually $500 to $1,500 depending on the purchase price, and covers you for as long as you own the property.

Closing Costs and Who Pays What

Closing costs are fees and expenses paid at closing. For buyers, these typically include lender fees (origination, processing, underwriting), title insurance, appraisal, inspection, property survey (if ordered), homeowners insurance, property taxes, and HOA transfer fees if applicable. Buyers typically pay 2 to 5 percent of the purchase price in closing costs, though this varies by location and loan type.

Sellers typically pay real estate agent commissions (usually 5 to 6 percent of the sale price, split between buyer's and seller's agents), transfer taxes, and title company fees. Some costs are negotiable—for example, a buyer might ask the seller to pay a portion of closing costs as part of the purchase agreement.

South Carolina does not have a state transfer tax, but some counties charge a recording fee when the deed is recorded. Charleston County, for example, charges a small fee based on the sale price. Check with your county clerk or title company for the specific fee in your area.

Working with a Real Estate Agent or Going It Alone

Most buyers and sellers work with a real estate agent. Agents list properties on the Multiple Listing Service (MLS), show homes to potential buyers, negotiate offers, and coordinate the transaction. Seller's agents typically earn a commission of 2.5 to 3 percent of the sale price; buyer's agents earn a similar amount, paid by the seller. If you sell without an agent, you keep that commission but must handle marketing, showings, and negotiations yourself.

Buyers can also purchase without an agent. You'll search for properties online, contact sellers or their agents directly, and negotiate on your own. Many sellers' agents will still show you their listings and represent you in negotiations, earning their commission from the seller. However, you lose the benefit of an agent who knows the market, can advise on pricing, and handles paperwork.

Some buyers and sellers work with a real estate attorney instead of or in addition to an agent. Attorneys review contracts, handle title work, and oversee closing. This is particularly common in South Carolina for commercial transactions or complex residential deals.

Timelines and What Affects Them

A typical transaction takes 30 to 45 days from accepted offer to closing. The inspection period is usually 10 to 14 days. Title work and appraisal take 7 to 10 days. Financing approval takes 5 to 10 days. If everything moves smoothly, closing can happen in 30 days. If inspections reveal major problems, appraisals come in low, or financing is delayed, the timeline stretches.

Cash sales close faster—sometimes in 7 to 14 days—because there is no appraisal or lender approval. Transactions involving new construction may take longer if the builder is still finishing the home. If the property is in probate or has title issues, closing can be delayed by weeks or months.

Frequently Asked Questions

What is earnest money and what happens to it?

Earnest money is a deposit you make when you sign the purchase contract, typically 1 to 3 percent of the purchase price. It shows the seller you are serious about the offer. The money is held in escrow by the title company or real estate agent and applied to your down payment at closing. If you walk away during the inspection period for a valid reason (such as a failed inspection), you get the earnest money back. If you back out without a valid reason, the seller may keep it.

Can I negotiate closing costs with the seller?

Yes. As part of the purchase agreement, you can ask the seller to pay a portion of your closing costs or cover specific expenses like the appraisal or inspection. The seller can agree, refuse, or counter with a different offer. This is negotiated before you sign the contract, not after.

What if the appraisal comes in lower than the purchase price?

If the appraisal is lower than the agreed price, your lender will only finance based on the appraised value. You can renegotiate the price down, increase your down payment to cover the difference, or walk away if your contract includes an appraisal contingency. Most contracts do include this protection.

Do I need a property survey?

A survey is not always required, but your lender may order one if the property has no recent survey on file or if there are boundary questions. A survey confirms the exact boundaries of the property and costs $300 to $800. If you are buying a new home or a property with clear boundaries, a survey may not be necessary.

What happens if the seller does not disclose a problem I find after closing?

If you discover a material defect after closing that the seller knew about and did not disclose, you may have a legal claim against the seller. South Carolina law allows buyers to pursue damages for non-disclosure. This is why a thorough inspection before closing is important—it protects you by identifying problems while you still have the right to renegotiate or walk away.