South Carolina Real Estate Sales Attorney
December 19, 2022
Real Estate Sales Lawyer Assists Clients Selling a Home in Beaufort County, Jasper County, or Elsewhere in SC
South Carolina law requires both a buyer and seller of real property to hire legal counsel. An attorney can assist a seller at every stage of the sales process, including reviewing purchase contracts, drafting of the deed and seller documents and resolving issues that arise prior to closing.
If you need help with the process of selling your home, reach out to The Bannon Law Group, LLC today for an initial case evaluation. A South Carolina real estate sales attorney can talk you through the sales process and help you understand what our firm can do to make the process as effective and smooth as possible for you. Let our firm put in the work necessary to ensure that your rights and interests are protected throughout the sales process and even after closing.
Details of the Sales Process that a South Carolina Real Estate Sales Attorney from The Bannon Law Group LLC Can Assist With
Selling a home represents a major legal transaction, so working with a South Carolina real estate sales attorney can help you to avoid problems that may come up during the sales process. At The Bannon Law Group, LLC we help sellers with details of the purchase and sale transaction such as:
- Drafting all required seller documents to include the deed,
- Representing you when issues arise in between acceptance of the contract and closing, such as potential title defects identified by the buyer’s attorney.
- Negotiating on your behalf when disputes arise prior to closing, such as resolving who will be responsible for payment of defects or other problems or issues not listed in the purchase contract.
- Making sure that any outstanding mortgages and liens you have on the home are paid off and that you obtain releases from those loans or other encumbrances.
Key Issues in Selling a House in South Carolina
Most people who sell a home or property choose to work with a real estate agent. A seller hires a real estate agent via a listing agreement, which governs the relationship between the seller and agent. The listing agreement will set forth the type of listing that the agent will perform; most agents insist on an exclusive right to sell, which requires the seller to pay the agent regardless of who obtains the buyer. However, other types of listings include open listings, in which the seller pays whichever agent brings the buyer, or an exclusive agency listing, in which you give your agent’s firm the exclusive right to list your property but you only agree to pay the agent’s firm if they bring in the buyer. The listing agreement will also cover other details such as the duration of the listing, the commission percentage, the price the agent will initially list your property for, and the respective obligations of the seller and agent during the listing and sale process.
Sellers are also required by South Carolina law to provide prospective buyers with a disclosure form that describes the property’s condition, including material facts such as issues with the roof, structure, or foundation, damage from weather or pests or mold, hazards like lead paint or asbestos or environmental contamination, and restrictions on the property like environmental covenants or the presence of an HOA.
The transaction of a property begins when the seller accepts a buyer’s written offer, which usually takes the form of a contract that states the purchase price, proposed down payment, and any contingencies to closing (such as a favorable inspection report or the buyer’s obtaining of a mortgage).
In between accepting the buyer’s offer and closing, the seller may need to address issues such as problems with the seller’s title that comes up during the buyer’s title search, or problems with the property identified in an inspection that the buyer wants repaired prior to closing or a discount on the purchase price for.
Closing occurs after the seller and buyer fulfill their obligations under the purchase contract. At closing, the buyer and seller sign the closing documents, and the seller turns over the deed to provide clear title to the buyer. The seller must also use the purchase funds to pay off any outstanding mortgages or liens they have.
Frequently Asked Questions about Real Estate Sales in South Carolina
What is a real estate lawyer?
A real estate lawyer is an attorney who focuses in the area of law dealing with land and property rights. A real estate lawyer may represent one of the parties to a purchase and sale of property or property rights (such as a lease or an easement). Real estate lawyers also assist clients with other legal matters and disputes related to property, such as land use/zoning issues, boundary disputes, title disputes, or real estate development matters.
What does a real estate lawyer do for a property seller?
Both the buyer and the seller are required to hire an attorney for the purchase of real estate in South Carolina. A real estate lawyer can help a property seller by reviewing the terms of the purchase and sale contract to ensure that the seller’s interests are protected. If the buyer’s title search turns up any issues with the seller’s title, a real estate attorney can also handle resolving that issue on the seller’s behalf.