As licensed agents we are able to help clients buy and sell real estate anywhere in South Carolina. We primarily focus our time and energy in the Midlands of SC. But if you have a property somewhere else talk to us first! We have helped clients in other SC markets before. And even if it’s not a property we ultimately can help with, we are part of a vast network, so we can connect you to a trusted agent in that market.

As the Seller you will have some expenses you will be responsible for. We are happy to discuss with you in person more in-depth about these numbers. But, the most common expenses you will face as a Seller are:

• Commission (We will charge you a commission if we help you successfully sell your home. While you are not required to pay the Buyer’s Agent, we strongly advise you plan to offer a commission to the Buyer’s Agent as well.)

• Deed Prep Fee: An Attorney fee

• Deed Stamps: A State tax

• Mortgage Payoff

• Property Taxes: You are responsible for the time you owned the house during that calendar year.

• Misc. / Unkown Expenses: These are costs we can’t predict, such as if the Buyer asks you to pay towards their closing costs, or make repairs, etc.

Again, would be happy to discuss this in more depth with you in person.

You are correct, there was a lawsuit involving the National Association of Realtors, as well as various regional MLS companies, regarding commissions. Unfortunately, some markets around the country were not clearly disclosing how commissions were being split, and this is what prompted the lawsuits. In response to this, brokerages have gotten away from paying Buyer’s Agents compensation for selling their listing. We now leave this to be included in your negotiations with a Buyer.

While you are not required to pay a commission to the Buyer’s Agent, we strongly recommend that you budget for it. Most Buyers do not have the cash to pay their agent a commission (in addition the downpayment and closing costs they must pay). Therefore, we believe it is wise to offer compensation to their agent as an incentive to buy your house. The amount can be discussed during the negotiation process.

Earnest Money is money the Buyer puts down on the house to show the Seller how serious they are. It acts as a security deposit.

• If the Buyer successfully purchases the home this money is applied towards the Buyer’s expenses.

• If either the Buyer or Seller void the contract for a legal reason (such as the inspection, appraisal, or financing contingencies) then the Buyer typically gets this money back.

• If the Buyer breaks the contract for an illegal reason, then the Seller likely will get this money.

• If the Seller breaks the contract for an illegal reason, the Buyer will get this money back.

The amount typically depends on the price of the home, but on average expect around $1,000. In most transactions, this money is held by the Closing Attorney.

Buyer Closing Costs are a combination of the Buyer’s Lender and Attorney fees. These are additional fees that DO NOT go towards the purchase price or Buyer’s downpayment. During the negotiation period, some Buyers may request the Seller to pay some or all of their Closing Costs.

A Home Warranty is a contract that covers the repair (and sometimes replacement) on things within your home, such as plumbing, HVAC, and even certain appliances. These plans typically run between $400-$700, and must be renewed annually. It can be common during the negotiation period for some Buyers to request the Seller to purchase a 1-year plan for the Buyer.

It primarily depends on if the Buyer requires financing. If so, then it depends on the lender and type of loan.

A conventional loan typically needs about 30 days. Loans such as FHA, VA, or Rural Housing usually need around 45 days.

A cash offer can close much quicker. This primarily depends on the attorney, which typically needs about 14 days.

Anything attached to the property (called a fixture) must remain (convey) with the property. If it’s not attached, then it does not convey. For example, curtain rods are usually attached, therefore the rods would convey. But the curtains on the rod are not attached, therefore they would not stay. Appliances, such as built-in microwaves, dishwashers, stove tops, and built-in ovens would convey because they’re attached. Slide in ranges, though not technically attached, commonly convey. Fridges, washers, and dryers tend to be the grey areas.

If there’s anything in the house you are unsure of it’s always better to ask us rather than assume.

If your name is on the deed then you will be required to provide ‘wet signatures’ on certain documents. The simplest way to do this is to be physically present at the closing. If, however, you are unable to do this, there are 2 alternatives:

1. Power of Attorney (POA): You can give POA to someone (such as a spouse) to sign on your behalf. Setting up POA is an additional expense you would be responsible for. Please note, our company does not permit us as agents to have POA on behalf of our clients.

2. Mail Away: The attorney will mail documents to you to sign. This option requires several witness signatures, as well as a notary. Once you’ve provided the necessary signatures you would mail the documents back to the attorney. On the closing day you will need to be available via email in order to sign the final settlement statement (which can be signed digitally).

No. You are not required to make repairs. Likewise, unless the Buyer agreed to As Is with NO Due Diligence, the Buyer is not required to purchase the home if they’re not satisfied with the inspections. Therefore, if a Buyer makes repair requests we would recommend considering these requests to see if there are some you could do.

Keep in mind, if the Buyer presents inspection reports and then walks away, in most instances you will be required to disclose these reports to future Buyers.

The standard Contract of Sale that is used in our market by default stipulates that the Seller agrees to allow the Buyer to perform inspections.

We would caution you from attempting to prevent a Buyer from doing inspections. This may cause them to wonder if you are hiding something and may result in them walking away.

You could attempt to negotiate the offer “As-Is” with NO Due Diligence period, but because the Buyer assumes a lot of risk with that stipulation, it’s pretty uncommon for Buyers to agree to this.

If you have concerns about what inspections may reveal, you can always have inspections done prior to listing.

Keep in mind, in SC most Sellers are required to disclose problems with the house. So if you do Inspections before listing, unless you address the problems, you would likely be required to disclose those reports to prospective Buyers. Likewise, if a Buyer presents inspection reports to you and walks away, you will have to disclose those reports to future Buyers.

No. Most of the time the Buyer is responsible for paying for the inspection. The most common exceptions are:

• Sometimes Sellers offer an inspection allowance as an incentive to Buyers.

• VA Loans require a clear CL-100 (aka Termite letter). In the past the VA would not allow the Buyer to pay for this, so it was common for the Seller to pay for it. The VA recently changed their rule on this, now allowing Buyers to pay for it. However, it is still common for some Sellers to agree to pay for this. Termite inspections usually range between $75-100. Keep in mind, if the inspection fails then the letter is not clear, and therefore the VA will require that the noted problems are corrected in order to clear the letter.

Vendors typically involved in a real estate transaction include the Closing Attorney, Lender, Inspectors, and Contractors.

In most instances, you are free to choose your own Vendors. The times this may not be true are:

• It’s very common in our market for the Buyer to select the Closing Attorney and the Seller to use this Attorney. You are not required to use them, but, this is a common practice in our market.

• If the Buyer stipulates you use a certain Vendor (such as an Attorney, Lender, or Contractor) and you agree to their request.

We have preferred Vendors we are happy to recommend to you, but you are not required to use them.