The Ultimate Guide to Buying and Selling a Home in South Carolina and Georgia
Insights from Meredith Bannon, Esq., Real Estate Attorney, Bannon Law Group, LLC.
Welcome to Your Homeownership Journey
Buying or selling a home is one of life’s most exciting—and sometimes overwhelming—experiences. However, you can confidently navigate this process with the right guidance and preparation. This guide will walk you through key steps, important legal considerations, and expert tips for smooth and successful real estate transactions in South Carolina and Georgia.
Why a Strong Team Matters
Navigating the complexities of real estate transactions requires more than just luck. Building a team of professionals—your attorney, realtor, and lender—who communicate effectively and set clear expectations from the outset is critical. They’ll help you anticipate potential issues, ensure compliance with local regulations, and streamline the process.
Understanding Real Estate Closings
Real estate closings transfer residential or commercial property ownership from seller to buyer. While often straightforward, they can quickly become complicated. A skilled attorney plays a pivotal role in reviewing documents, resolving disputes, and ensuring all legal requirements are met.
Key Considerations for Buyers and Sellers
- Federal Regulations:
Since the passage of the Dodd-Frank Act, mortgage disclosures and waiting periods aim to protect buyers and improve transparency. These rules may add steps to the process, but they also ensure better communication between all parties. - South Carolina’s “Attorney Close” Rule:
South Carolina requires an attorney to oversee every real estate transaction. Your attorney examines property records, prepares legal documents, and coordinates all aspects of the sale. This added layer of legal oversight provides significant protection for buyers and sellers alike.
Steps for a Successful Transaction
1. Preparing for the Purchase
- Establish a relationship with a lender early to determine your budget and speed up the pre-approval process.
- Expect to provide documentation multiple times throughout the loan process—it’s a necessary safeguard to meet federal and state regulations.
2. Reviewing the Title
Your attorney will conduct a thorough title review to ensure the property is free of liens or claims. Title insurance is also highly recommended to protect your investment from unforeseen issues.
3. Closing Day
Closing day can feel anticlimactic, as only the buyer and attorney typically meet to sign documents. However, this final step secures your ownership. Remember: in South Carolina, keys are not released until the seller receives the proceeds of the sale.
Common Challenges in Real Estate Transactions
Even the best-laid plans can encounter obstacles. Some common issues include:
- Disputes over items included in the sale
- Repairs or property condition concerns
- Zoning or land-use conflicts
- Delays in financing or documentation
Your attorney will work to resolve these matters quickly and protect your interests.
Special Considerations for Commercial Real Estate
Commercial transactions often involve additional complexities, from forming business entities to securing title insurance. Whether purchasing a small property or a multimillion-dollar development, the legal team at Bannon Law Group ensures every aspect is handled with care.
Relocating to the Lowcountry?
If you’re moving to Charleston, Savannah, or Bluffton, you’ll need a legal team that understands the unique demands of relocation transactions. From out-of-state coordination to fast-tracking timelines, we handle the details so you can focus on your move.
Expert Tips for Buyers and Sellers
- Buyers: Secure Owner’s Title Insurance to protect yourself from unforeseen title defects.
- Sellers: Address outstanding tax liens or judgments early to avoid delays.
- Both: Work with experienced professionals who prioritize communication and transparency.
About Bannon Law Group
At Bannon Law Group, LLC, we do more than just close deals—we shape the future of real estate law in the Lowcountry. Our team of skilled attorneys, including Meredith Bannon, Esq., has successfully handled thousands of residential and commercial transactions across Charleston, Savannah, Bluffton, and beyond.
Your Next Steps
Are you ready to buy or sell your next property? Contact Bannon Law Group today to schedule a consultation.
- Location: 10 Westbury Park Way, Bluffton, SC
- Phone: 843-865-8922
- Website: bannonlawgroup.com
Bonus: Is Another Property in Your Future?
Once settled in your new home, you may start dreaming of owning another piece of the Lowcountry—whether for personal use or investment. Let us guide you through the process again and make your real estate goals a reality.
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Keep this guide handy as a resource during your home-buying or selling journey. Please share it with friends and family who may benefit from expert legal insights!
Differences between South Carolina and Georgia when it comes to Attorney Involvement in Real Estate Closings
South Carolina: “Attorney Close” State
- Mandatory Attorney Involvement:
South Carolina is a strict “attorney close” state, meaning that a licensed attorney must oversee every aspect of a real estate transaction. This includes preparing, reviewing, and finalizing all legal documents and handling the closing process. - Scope of Attorney’s Role:
- Conducts the title search and addresses any issues (e.g., liens)
- Prepares or reviews the settlement statement and deed
- Ensures compliance with state and local laws
- Disburses funds from escrow account.
- Represents only one party (either buyer or seller) to avoid conflicts of interest
- Consumer Protection:
The attorney’s role ensures added layers of protection for buyers and sellers by minimizing errors, avoiding contract disputes, and ensuring the legality of the transaction.
Georgia: Attorney-Required Closings
- Attorney Participation is Required, But Not “Attorney Close”:
In Georgia, a licensed attorney must also conduct real estate closings. However, the process is slightly more flexible than South Carolina’s strict “attorney close” requirements. For example, title companies often work closely with attorneys to facilitate transactions. - Scope of Attorney’s Role:
- The attorney is responsible for conducting the closing
- They prepare and review essential documents, such as the settlement statement and deed
- They certify the title and issue the title insurance
- Like in South Carolina, the attorney ensures the transaction complies with state laws
Title Insurance Agents and Attorneys:
In Georgia, attorneys often act as title insurance agents, performing title searches and resolving title issues. While title companies can assist in the process, the attorney must supervise and finalize the closing.
Key Differences
|
Aspect
|
South Carolina
|
Georgia
|
|---|---|---|
|
Mandatory Attorney Role
|
Strict "attorney close" requirements
|
Attorneys must conduct the closing but work alongside title companies in some cases
|
|
Title Work
|
Typically handled entirely by the attorney
|
Often managed by attorneys who also act as title agents
|
|
Representation
|
Attorneys represent either the buyer or seller
|
Attorneys conduct the closing but may not necessarily represent a specific party
|
|
Legal Protections
|
Higher level of consumer protection due to attorney oversight at every stage
|
Attorneys focus on compliance and certification for the closing process.
|
Conclusion
South Carolina and Georgia both require attorney involvement in real estate transactions. Still, South Carolina’s “attorney close” rules are stricter, mandating an attorney’s active participation at every stage. In Georgia, attorneys are essential for the closing. However, depending on the specific transaction, they may share some responsibilities with title companies.
If you’re navigating a real estate transaction in either state, working with an experienced real estate attorney ensures your rights and interests are protected throughout the process.