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5 Essential Things to Know About Closing on a Home in South Carolina

The process of closing on a home can be both exciting and overwhelming. If you're a prospective homebuyer in South Carolina, it's crucial to be aware of the specific nuances and requirements involved in the closing process. This blog post aims to highlight five essential things you should know before closing on a home in the Palmetto State.

1) Understanding the Role of an Attorney

Unlike many other states, South Carolina mandates that an attorney must be present at real estate closings. The attorney represents the buyer's interests and ensures that all legal aspects of the transaction are handled correctly. They review contracts, title documents, and other relevant paperwork, providing valuable guidance throughout the process. Engaging a knowledgeable real estate attorney is crucial for a smooth and legally compliant closing experience.

2) The Importance of a Title Search

Before closing, it is essential to conduct a thorough title search. This search ensures that there are no outstanding liens, judgments, or claims against the property that could affect the buyer's ownership rights. Title insurance is also highly recommended to protect against unforeseen title issues that may arise in the future. Working with a reputable title company or attorney will help safeguard your investment.

3) Home Inspection and Due Diligence

Performing a home inspection is vital before closing on a property. It helps identify any existing or potential problems with the home's structure, systems, or major components. Additionally, buyers in South Carolina have a due diligence period specified in the purchase agreement to conduct investigations, review documents, and ensure the property meets their requirements. Utilizing this period wisely is crucial in making an informed decision.

4) Understanding Closing Costs

Buyers should be prepared for various closing costs associated with finalizing the purchase. These costs may include loan origination fees, appraisal fees, attorney fees, title search fees, and recording fees, among others. It's advisable to obtain a Loan Estimate and Closing Disclosure from your lender and review them carefully to understand the breakdown of costs involved in the closing process.

5) Timelines and Contingencies

Understanding the timelines and contingencies outlined in the purchase agreement is vital. These may include deadlines for inspections, mortgage approval, and resolution of any identified issues. Failing to meet these deadlines may result in the termination of the agreement or financial consequences. It is essential to work closely with your real estate agent, attorney, and lender to ensure all necessary tasks are completed on time.

Closing on a home in South Carolina requires careful consideration and understanding of the specific requirements and procedures involved. By working with Shipman Miranda Law you can navigate the closing process with confidence and successfully complete your home purchase in the Palmetto State. We are here to help! Give us a call at 864.760.0221, or email us at


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