Closing Costs in South Carolina
Buyer & Seller Guide

After years of orchestrating closings from the salt-laced air of Charleston to the bustling corridors of Greenville, I can tell you that the Palmetto State’s process is truly its own. South Carolina is a strict “attorney-closing” state, a critical distinction that shapes the entire experience. Here, a licensed attorney, not a title company, sits at the head of the table, responsible for conducting the closing, certifying title, and disbursing funds. Our role as a title company is to support that attorney with meticulous title research and to underwrite the insurance policies that protect the lender and new owner. This attorney-centric model provides an incredible layer of legal protection for all parties but often surprises out-of-state buyers and sellers. Understanding this core difference is the first step in accurately deciphering the landscape of **closing costs south carolina**, as generic national guides simply don’t apply to our unique legal framework.

For a homebuyer, grasping the full spectrum of **south carolina closing costs buyer** obligations is paramount to a smooth transaction. Your closing attorney, whom you select, is your chief advocate. They will coordinate everything from the title search to the final document signing. A significant portion of your costs will involve the loan itself, including origination and appraisal fees. Then comes title insurance: the lender's policy, which is mandatory, and the owner's policy, which is your personal shield against future title claims and a wise investment I’ve seen save homeowners from financial ruin countless times. You’ll also encounter prepaid items, such as setting up your escrow account for property taxes in counties like Richland or Horry and paying your first year's homeowner's insurance premium. The key is to meticulously review the Closing Disclosure with your attorney days before closing, ensuring you know exactly **how much are closing costs south carolina** for your specific purchase.

On the other side of the transaction, the **south carolina closing costs seller** obligations are anchored by one major, state-specific expense: the documentary stamps, more commonly known as the **south carolina transfer tax**. This is a non-negotiable cost based on the property’s sale price and is traditionally the seller's responsibility. Beyond that, the largest deduction from your proceeds will likely be the real estate agent commissions, which have become a more fluid point of negotiation recently. You'll also credit the buyer for your share of the annual property taxes up to the day of closing. Depending on the contract, you may also be paying for a CL-100 Wood Infestation Report, a near-universal requirement in our humid climate, and any negotiated repair credits. All these items are itemized on the seller’s settlement statement, painting a clear picture of your net proceeds.

Successfully navigating the negotiation of **closing costs south carolina** often hinges on strategy and a keen understanding of which levers can actually be pulled. While government-mandated fees like recording charges and the **south carolina transfer tax** are fixed, many other costs are not. Seller concessions remain a powerful tool; a buyer can request that the seller contribute a specific amount towards their closing costs, which is then written into the purchase contract. Buyers can also shop around for their homeowner’s insurance policy and ask their chosen closing attorney if they work with different title underwriters, like First American or Old Republic, to compare premium rates. For buyers, discussing lender credits with your mortgage officer—where you accept a slightly different interest rate in exchange for the lender covering some closing costs—is another viable strategy to reduce the cash needed at closing.

Perhaps the most significant factor influencing who pays what is the current pulse of the local market. In a frenzied seller's market, like we've seen in sought-after suburbs of Columbia, buyers have very little leverage. They are expected to cover their full share of **south carolina closing costs buyer** obligations and asking for seller concessions can weaken their offer. Conversely, in a cooler market where homes linger on Zillow for weeks, the tables turn. A seller might proactively offer to pay a portion of the buyer's costs to incentivize a quick sale. This dynamic directly impacts how you approach the question of **how much are closing costs south carolina**. A savvy agent and attorney will use market data on days-on-market and inventory levels to advise you on whether negotiating **south carolina closing costs seller** contributions is a winning strategy or a deal-killer.