South Carolina taxes property sales through its deed recording fee, requires an attorney to close and requires a seller disclosure form. It forecloses through the courts and is not a community property state. Deadline to appeal a property tax assessment: 90 days from the mailing of the assessment notice; in years without a notice, in writing before the first penalty date.
South Carolina in short
Is there a real estate transfer tax in South Carolina?
South Carolina has no tax called a transfer tax but charges a deed recording fee of $1.85 per $500 of value, or $3.70 per $1,000 ($2.60 state and $1.10 county), which is $1,480 on a $400,000 sale. By law the seller owes it.
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What closing costs does South Carolina law set?
South Carolina has no official typical closing-cost total. The deed recording fee is $3.70 per $1,000 ($1,480 on $400,000) with the seller liable, and Greenville County charges $15 to file a deed and $25 to file a mortgage.
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How is property tax calculated in South Carolina?
In South Carolina a home you own and live in as your legal residence is assessed at 4% of fair market value (other real estate 6%) and is exempt from school operating taxes. In the City of Greenville the 2025 millage is 331.5 mills.
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What is the deadline to appeal a property tax assessment in South Carolina?
In South Carolina, give the county assessor written notice of objection within 90 days of the mailing of your assessment notice (S.C.
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Do you need a real estate attorney to close in South Carolina?
Yes. The South Carolina Supreme Court has held that all real estate and mortgage loan closings must be supervised by a licensed attorney (Matrix Financial Services Corp. v. Frazer, 2011).
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What must a home seller disclose in South Carolina?
South Carolina law requires most sellers of one- to four-unit homes to give the buyer the Real Estate Commission's disclosure form before the contract is signed (S.C. Code 27-50-50).
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How does foreclosure work in South Carolina?
South Carolina foreclosures go through the courts: a power of sale is not valid unless a court first establishes the debt or the borrower consents in writing after the loan matures. After a foreclosure sale, bidding stays open for 30 days.
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What first-time home buyer programs does South Carolina offer?
In South Carolina, SC Housing offers first-time buyers a $10,000 down payment loan that is fully forgiven after 15 years in the home. Its Palmetto Home Advantage program gives 0%, 3% or 4% of the loan amount and has no first-time requirement.
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Which natural hazards affect home insurance in South Carolina?
A standard South Carolina homeowners policy does not cover flood, including storm surge, and the Department of Insurance advises considering a flood policy whether or not the property lies in a mapped flood zone.
South Carolina guides
- Closing costs in South Carolina: what buyers and sellers pay
- South Carolina deed transfer tax: $3.70 per $1,000
- Property tax in South Carolina: 4% ratio, rates, appeals
- South Carolina seller disclosure: what the state form requires
- Do you need a real estate attorney to close in South Carolina?
- South Carolina foreclosure: court process, timeline, your rights
- Home prices in South Carolina and Greenville: median and trend
- First-time home buyer programs in South Carolina: SC Housing
- How to verify a real estate license in South Carolina
- Natural hazards and home insurance in South Carolina (state-specific topic)