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Judicial
Attorneys customarily handle closings. Conveyance is by warranty deed. Mortgages are most often the security instruments. Foreclosures are judicial and take 3-5 months depending on court schedules. Foreclosure sales take place on the first Monday of every month following publication of notice once a week for 3 consecutive weeks. South Carolinians use owner’s and lender’s ALTA policies and endorsements. Buyers pay closing costs, title insurance premiums, and state mortgage taxes; sellers pay the transfer taxes. Property tax payment dates vary across the state from September 15 to December 31.
Varies across the state from September 15th to December 31st
NO. South Carolina has a separate limited license for property managers. Real estate brokers and salespeople may also be involved in property management. Property managers must be licensed under a "property manager-in-charge" or a "broker-in-charge." A "property manager" is defined as an individual, who, for a fee, salary, or commission, or other valuable consideration or who with the intent or expectation of receiving compensation: - Negotiates or attempts to negotiate the rental or leasing of real estate or improvements thereon; - Lists or offers to list and provide services in connection with the leasing or rental of real estate or improvements thereon; - Advertises or otherwise holds himself out to the public as being engaged in any of the foregoing activities. A "property manager in charge" is the property manager who has responsibility for the actions of the associate property managers and who has responsibility and control over and liability for trust accounts. Generally, residential property managers are not exempt from the requirement that they have either a property manager license or a broker license, even if they do not engage in leasing activities.
YES. There are very limited exceptions to the requirement, including one for owners of property. For more information about these and other South Carolina property management requirements and exceptions, please contact the South Carolina Real Estate Commission. Before hiring a property manager to manage your South Carolina rental property, you should always check that he or she is licensed appropriately. You can check the license status of South Carolina property managers by referring to the state's online license verification service.
There is no requirement that a community association manager or condo association manager in South Carolina hold a real estate broker's license.
Attorneys customarily handle closings. Conveyance is by warranty deed. Mortgages are most often the security instruments. Foreclosures are judicial and take 3-5 months depending on court schedules. Foreclosure sales take place on the first Monday of every month following publication of notice once a week for 3 consecutive weeks. South Carolinians use owner’s and lender’s ALTA policies and endorsements. Buyers pay closing costs, title insurance premiums, and state mortgage taxes; sellers pay the transfer taxes. Property tax payment dates vary across the state from September 15 to December 31.
Varies across the state from September 15th to December 31st
Warranty deed.
