Beach House By Dawn

Most of my buyers come out of state and some from out of the country. Every state has a different real estate sales process, so for future reference, I’m going to outline the SC Sales Contract when it comes to buying property in the state.

The first step is buying property is to connect with a licensed real estate agent and discuss the buyer agency agreement. This agreement defines how the commission will be paid, how long you are working together and what kind of property the agent is searching for you. Once the buyer agreement is committed to, we move on to the sales contract. After we’ve located the property you want to make an offer on here are the next steps.

• Simplistically, I would make your price and terms offer and I can help you with the details of that.
• I write it up on a SC sales agreement, obtain your signatures, I present it to the listing agent along with a pre approval letter or cash letter and our negotiations begin.
• Once terms are agreed upon, everyone signs and we enter into a “due diligence” period in SC. 
• Due diligence is typically 10 to 14 days and we conduct all our fact finding, inspections, insurance shopping, repair requests and finance options.
• You may cancel your contract during due diligence and pay a cancellation fee to the seller which is determined in the negotiation period. Typically $200 to $500, but it could be more.
• If you decide to proceed to closing, your earnest money deposit is made with a recommended closing attorney who begins preparing your title and closing documents.
• Earnest money deposit is typically 1% of purchase price, if the seller agrees to that in the offer process.
• Your earnest money is held by your attorney and is credited to your purchase price at closing
• We close about 30 to 45 days from the accepted offer time unless another timeline has been agreed to in the offer process.
• If financing, appraisal is done during this time. Financing and appraisal are a contingency in our sales agreement.
• You will have an in person or by mail closing with your attorney on or before the date agreed upon in the sales contract.
• Your attorney will record your sale the same or next day and you will then have access to the property.

If I can help you place an offer on a house, condo, or vacant land in the Myrtle Beach, Coastal South Carolina area, please reach out to me in the form below. ~dawn