In the interest of consumer protection, our State Supreme Court has held that all real estate closings are the practice of law in South Carolina. Therefore, the process must be supervised and certified by a licensed South Carolina attorney. [State v. Buyer Service CO., 357 S.E.2d 15 (S.C. 1986). The Attorney must certify the title opinion, conduct the closing, supervise the recording of documents, and supervise the disbursement of funds.]

Considering today’s increased risk of email phishing and hacking scams, it’s important to be vigilant when sending wired funds for your closing. Cyber Criminals can hack email accounts and send emails with fake wiring instructions in an attempt to defraud unsuspecting people involved in real estate transactions. These emails can be convincing and look official. Always independently confirm your wiring instructions in person or by speaking to a trusted individual at a verified phone number at the place you are sending funds to before wiring them. Also, it should raise red flags if you receive instructions asking you to change where to wire the funds.

Closing day is an exciting time for both buyers and sellers. Make sure you bring the necessary items to closing to ensure a smooth process. Sellers should bring a valid government-issued photo ID, all keys, garage openers, and other items that the new owners may need. Buyers and borrowers should bring two (2) forms of ID- one being a valid government-issued photo ID and proof of funds wired or certified funds in accordance with our office policy.

Keep in mind that if you are selling a house or refinancing all owners on title will need to be present to sign documents. This applies even if not all sellers/borrowers are on the loan or note.

South Carolina entitles buyers to a 4% discounted property tax rate if they are going to use the property as their primary residence. However, buyers don’t automatically get that special rate. They must apply for the 4% primary residence rate with the applicable county assessor’s office and provide supporting documentation showing the property is their legal primary residence to qualify.