The South Carolina Home-Buying Process: Your Step-by-Step Checklist

Ask your agent to pull recent sales (comps) for similar homes in the same neighborhood. MLS data lets your agent see what similar homes actually sold for, not just their list prices. Understanding the local market helps you decide whether to offer below, at, or above list price. In competitive markets like Charleston or Greenville, you may need to move quickly.

Cost: $0

South Carolina real estate transactions typically use the South Carolina Association of REALTORS (SCAR) standard residential purchase agreement. This form covers the purchase price, earnest money amount, financing contingency, inspection period, closing date, and possession terms. Your agent will help you fill it out, but you should read every section before signing—especially the default remedies and contingency deadlines.

Cost: $0

Earnest money is a good-faith deposit that shows the seller you are serious. In South Carolina, earnest money received by the listing brokerage or buyer's brokerage must be deposited into the firm's trust account no later than three banking days after receipt. The funds are held in a separate, dedicated trust account at a federally insured South Carolina financial institution. If the deal closes, your earnest money applies toward your purchase. If the deal falls through, whether you get it back depends on your contract contingencies.

Cost: Typically 1-2% of purchase price

After August 17, 2024, sellers and listing agents may no longer advertise buyer-broker compensation through the MLS. Your buyer representation agreement already specifies what your agent earns. If the seller agrees to pay a concession that covers some or all of that amount, it can be negotiated as part of the purchase contract. If the seller does not offer a concession, you may owe your agent the amount stated in your buyer agreement directly. Ask your agent to explain all compensation arrangements in writing before you sign the offer.

Cost: Varies by agreement

South Carolina law (S.C. Code §27-50-10 et seq.) requires the seller to give you a completed Residential Property Condition Disclosure Statement before you sign the contract, or deliver it shortly after. If you receive it after signing, you have three business days to rescind the contract after receipt. The form covers the condition of the roof, foundation, plumbing, electrical, HVAC, and more. Read it carefully and flag anything concerning for your home inspector.

Cost: $0

If the home you are buying is in a homeowners association, South Carolina's Homeowners Association Act (S.C. Code §27-30-110) requires the seller to provide you with the HOA's declaration of covenants (CC&Rs), bylaws, rules and regulations, current budget, current assessment amounts, any pending special assessments, and any current litigation. Review these carefully—HOA rules can restrict rentals, pets, exterior modifications, and parking. Monthly dues and special assessments directly affect your ongoing housing costs.

Cost: $0

If the home was built before 1978, federal law requires the seller to give you a signed Lead-Based Paint Disclosure form and the EPA pamphlet 'Protect Your Family from Lead in Your Home.' You also have the right to a 10-day window to conduct a lead inspection or risk assessment before being bound. This is a federal requirement that applies in South Carolina just as in every other state. If the seller has any known reports about lead paint, they must share those too.

Cost: $0

South Carolina is an attorney-closing state. A licensed South Carolina attorney must prepare the deed and closing documents, conduct the title examination, and oversee the disbursement of funds. This is not optional—non-attorney title companies cannot conduct closings on their own. Hire your closing attorney early so they can start the title search. Attorney fees for closings typically range from $500 to $1,200, though fees vary by transaction complexity and firm.

Cost: $500-$1,200 typical

Your closing attorney will conduct a title examination to confirm the seller has clear, marketable title to the property and that there are no liens, unpaid taxes, or other encumbrances that could affect your ownership. Lender's title insurance (required by almost all mortgage lenders) protects the lender's interest. Owner's title insurance (optional but strongly recommended) protects your equity. A one-time premium is paid at closing.

Cost: $500-$1,500 typical (varies by purchase price)

A professional home inspection gives you an independent, objective look at the home's condition. Your inspector will examine the roof, foundation, electrical system, plumbing, HVAC, attic, and more. Look for an inspector who is licensed in South Carolina and carries errors and omissions insurance. Do not skip the inspection even on new construction—builders make mistakes too. Attend the inspection in person if you can so you can ask questions on the spot.

Cost: $300-$600 typical

Depending on the property's age, location, and construction, you may want additional inspections beyond the general home inspection. In South Carolina's coastal areas, consider a flood zone check and a wind mitigation inspection. For older homes, a sewer scope, radon test, or separate HVAC service call can reveal hidden issues. If the property is in a coastal critical area, it may be subject to regulation by the SC Office of Ocean and Coastal Resource Management (OCRM), which can affect what you can build or modify.

Cost: $100-$400 per specialty inspection

If you are purchasing a condominium, South Carolina condominium law falls under the Horizontal Property Act (S.C. Code §27-31-10 et seq.), which is older and different from the Uniform Condominium Act used by many other states. The master deed and recorded floor plans define your unit boundaries and your share of the common elements. Review these documents carefully to understand exactly what you own, what the association maintains, and what assessments you are responsible for.

Cost: $0

After reviewing the inspection report, you can ask the seller to fix specific items, reduce the purchase price, or provide a closing cost credit in lieu of repairs. You and your agent will submit a written repair request or amendment. The seller can agree, counter, or refuse. If you cannot reach agreement and you are within your inspection contingency window, you may be able to walk away and recover your earnest money—check your contract's specific terms.

Cost: $0

Once you are under contract, your lender will ask you to submit a complete loan application and updated financial documents. This triggers the underwriting process. Your lender is required by federal law to send you a Loan Estimate within 3 business days of receiving your application. Review it carefully—it shows your estimated interest rate, monthly payment, closing costs, and any prepayment penalties. Compare it against the terms you discussed during pre-approval.

Cost: Application fee varies ($0-$500)

Your lender will hire an independent, licensed appraiser to assess the home's market value. The lender will not approve a loan for more than the appraised value. If the appraisal comes in lower than your agreed purchase price, you will need to renegotiate with the seller, make up the difference in cash, or walk away if your contract includes an appraisal contingency. The appraisal fee is typically paid upfront or rolled into closing costs.

Cost: $400-$700 typical

The underwriter reviews your entire financial picture and may ask for additional documents—called conditions—before approving the loan. Common requests include letters of explanation for large bank deposits, additional bank statements, or proof of insurance. Respond to every request as fast as possible. Delays in responding can push back your closing date and may put your contract at risk if you miss a financing deadline.

Cost: $0

A rate lock guarantees the interest rate on your loan for a set period (typically 30-60 days). Ask your lender about the cost of locking (some charge a fee, others do not) and make sure the lock period covers your expected closing date. If interest rates are rising, locking in early can save you money. If rates are falling, a float-down option may let you capture a lower rate—ask your lender if this is available.

Cost: $0-varies by lender

Your lender will require proof of homeowners insurance before closing. Shop for a policy as soon as you are under contract so there are no last-minute delays. In South Carolina's coastal areas, standard policies may exclude windstorm or flood damage—you may need a separate wind or flood insurance policy. The National Flood Insurance Program (NFIP) provides flood coverage in participating communities, and your lender will require flood insurance if the property is in a designated flood zone.

Cost: $800-$3,000+ per year (varies significantly by location and coverage)

Federal law (RESPA/TRID) requires your lender to provide a Closing Disclosure at least three business days before closing. This document shows your final loan terms, monthly payment, and all closing costs. Compare it line-by-line to your Loan Estimate. Alert your lender and attorney immediately if anything looks different from what you expected. Do not bring cash to closing—bring a cashier's check or arrange a wire transfer for the exact amount shown.

Cost: $0

Schedule a walkthrough of the property within 24-48 hours before closing. This is your chance to confirm the home is in the condition you agreed to, that any negotiated repairs were completed, and that the seller has not removed any included appliances or fixtures. Bring your inspection report and your purchase agreement to double-check. If you find a problem, notify your agent and attorney immediately—do not close if issues are unresolved.

Cost: $0

Contact your closing attorney directly (using a phone number you looked up independently, not one from an email) to confirm the exact amount you need to bring to closing and the wire transfer instructions. Wire fraud is a serious risk in real estate transactions—scammers sometimes intercept email and send fake wiring instructions. Always verify wire instructions by phone before sending any funds.

Cost: $0 (wire fees may apply, typically $15-$30)

Your South Carolina closing attorney will tell you exactly what to bring. Standard items include a government-issued photo ID (driver's license or passport), your cashier's check or wire transfer confirmation, and any documents your lender requested. If you are married, both spouses may need to attend even if only one is on the loan. Confirm with your attorney whether your spouse needs to sign any documents under South Carolina law.

Cost: $0

At the closing table, a South Carolina-licensed attorney will review and explain the key documents with you before you sign. These include the promissory note (your promise to repay the loan), the mortgage or deed of trust (which secures the loan against the property), the deed (which transfers ownership to you), and the closing disclosure. The attorney is legally required to oversee this process—this is what makes South Carolina an attorney-closing state.

Cost: $500-$1,200 attorney fee (already quoted before closing)

South Carolina imposes a deed recording tax—commonly called 'deed stamps'—on property transfers. The state rate is $1.30 per $500 of the purchase price, and most counties add a local fee of $0.55 per $500, for a combined total of $1.85 per $500 in most counties. On a $300,000 purchase, that comes to $1,110 in deed stamps. By custom in South Carolina, deed stamps are typically paid by the seller, but this can be negotiated in your purchase contract. Your closing costs will also include lender fees, title insurance, and prepaid items like property tax escrow.

Cost: 2-5% of purchase price total closing costs; deed stamps ~$1.85 per $500 of price

After all documents are signed and funds are confirmed, your closing attorney will record the deed at the county register of deeds office, making you the official legal owner of the property. Recording times vary by county but typically happen the same day or the next business day. Once the deed is recorded and the seller's proceeds are disbursed, you will receive the keys. Congratulations—you are a homeowner.

Cost: Recording fees typically $50-$150

After closing, notify the post office, your bank, employer, and government agencies of your new address. Set up or transfer electricity, gas, water, trash, and internet services in your name starting on the day of closing. Change the locks on your new home—you do not know who else may have a key. Also keep all your closing documents in a safe place; you may need them for tax purposes or when you eventually sell the home.

Cost: $0-$300 for lock changes