As Sarah prepared to close on her dream home in South Carolina, she felt a rush of excitement, envisioning a new life in a new home in North Charleston. However, in her eagerness, she overlooked the crucial step of hiring a real estate attorney. Unbeknownst to her, navigating the complexities of real estate transactions without legal guidance could lead to significant pitfalls. Without an attorney, she risked missing essential details in the contract, encountering unexpected fees, or facing issues with property liens that could jeopardize her investment. As Sarah soon discovered, the intricacies of South Carolina real estate law are best navigated with professional help to ensure a smooth and legally sound closing process.
The truth is that buying, selling, and managing real estate involves many moving parts and often represents the most complex and important investments most people ever make. Real estate closings in Reidville, SC. are rarely black and white - they require an experienced, detail-oriented eye to examine specifics and protect you as the buyer or seller. That's where Cobb Hammett real estate attorneys come into play. We offer comprehensive, efficient, and high-level legal services regarding all facets of real estate and property issues - from closings and refinances to litigation over property disputes and more.
Before we dive into a few areas of our legal real estate expertise, let's examine real estate law in South Carolina, so you can build your knowledge and make an educated purchase decision.
Handling paperwork that needs to be completed promptly and navigating legal issues can be daunting for homeowners in South Carolina who are looking to buy or sell a home. According to data from the South Carolina Realtors, real estate deals in the Charleston area are on the rise, with a 3% increase in single-family closed sales and an impressive 20% rise in townhouse-condo closed sales.
The more you know about real estate law and real estate closings in The Palmetto State, the better off you'll be when it comes time to finally buy or sell your home. Let's take a closer look at a few key elements of residential real estate in South Carolina, including:
In South Carolina, real estate transactions are required to adhere to the Statute of Frauds, which stipulates that all contracts related to real estate must be documented in writing to be enforceable. These agreements generally encompass contracts for purchase, sale, and leases that extend beyond one year. It is crucial to ensure that your contract accurately represents the terms of your agreement to prevent any disputes in the future.
Furthermore, South Carolina law requires sellers to disclose any known defects in residential properties. This disclosure is usually made using the South Carolina Residential Property Condition Disclosure Statement. Neglecting to provide accurate information can lead to legal repercussions, like canceling home closings in Reidville, SC., or pursuing lawsuits for damages.
South Carolina operates as a judicial foreclosure state, which requires lenders to utilize the court system for property foreclosures. This procedure involves initiating a lawsuit, informing the borrower, and securing a court order to move forward with the sale of the property. Borrowers have the option to contest the foreclosure in court or pursue alternative solutions like loan modifications or short sales. It is essential for both borrowers and lenders to have a clear understanding of their rights and responsibilities during foreclosure proceedings.
Eminent domain refers to the government's authority to seize private property for public purposes, like constructing roads or schools. In South Carolina, owners of property have the right to receive just compensation if their property is taken under eminent domain. Conflicts frequently arise regarding the compensation amount offered or the validity of the government's claim. If you are confronted with an eminent domain situation, contacting a real estate attorney can help safeguard your rights and ensure you obtain fair compensation.
The South Carolina Landlord-Tenant Act oversees rental agreements and tenants' and landlords' rights and responsibilities. The key provisions you should know about include the following:
Conflicts between property owners and renters frequently occur regarding security deposits, maintenance issues, or eviction processes. Familiarizing oneself with these legal guidelines can assist both sides in settling disputes peacefully or taking necessary legal measures.
Zoning rules significantly influence how properties may be utilized. These regulations determine if a property can be designated for residential, commercial, industrial, or agricultural use. Zoning laws also govern factors like building heights, setbacks, and the kinds of structures allowed on a property. Before entering a real estate closing in South Carolina - especially for buying a home or a piece of land - it's very important to review local zoning ordinances to ensure adherence to relevant regulations. After all, disputes regarding zoning can result in expensive delays or even necessitate changes to your development plans.
South Carolina is one of 22 states in the US that mandates attorney supervision for real estate closings. In fact, it's one of the few states where the attorney must be physically present during the closing process.
When buying a home, it's important to be aware of all associated costs, which might lead you to consider the least expensive legal representation. However, it's wise to take your time and look for an experienced real estate lawyer in South Carolina for several reasons. Real estate laws in South Carolina are designed to protect you. However, real estate transactions and closings are often complex, and the average buyer may not fully grasp all the intricacies involved without professional guidance.
Moreover, the role of a real estate attorney extends far beyond just clarifying the terms of the contract before you finalize the sale. A skilled South Carolina real estate lawyer will thoroughly investigate any potential issues and ensure you secure the most favorable terms for your home purchase.
Let's look at just a few reasons why you need a real estate lawyer when you're buying or selling a home in South Carolina. Not just because the law demands it - but because it's in your best interests to do so.
If you've bought property in different states, don't presume that your experience in South Carolina will be the same. Real estate regulations differ from one state to another. For instance, while South Carolina does not mandate a comprehensive home inspection, it does require a termite inspection. Additionally, unlike many other states, a lawyer must supervise all real estate closings in South Carolina. Under South Carolina law, a lawyer is required to assist both the buyer and seller in the following circumstances:
This is not an easy procedure. Fortunately, working with a knowledgeable real estate attorney in Reidville, SC. from Cobb Hammett LLC helps ensure that every step is executed correctly - safeguarding your financial and legal interests.
Refinancing typically involves the rearrangement of a mortgage. In effect, this means replacing an old mortgage with a new one. Many homeowners in South Carolina choose to refinance their mortgages to reduce their interest rates, shorten their repayment terms, or capitalize on the equity they have accumulated.
With that said, a lawyer's oversight is necessary for closing on a home refinance. The mortgage will be tied to the property and influence the title. After the refinancing documents are signed, a knowledgeable real estate attorney will verify that the lender obtains all original documents, that the new mortgage is registered, and that all title policies are prepared to align with the loan obligations. At Cobb Hammett LLC, we always adhere to South Carolina consumer home loan laws to ensure that all refinancing processes comply with state regulations and standards.
In accordance with the South Carolina Consumer Protection Code, the buyer normally selects the closing attorney. This ensures that the attorney provides the buyer with a clear title to the property as intended. Realtors and lenders must respect the buyer's decision regarding the closing attorney.
At Cobb Hammett, LLC, our firm treats both the buyer and seller equally throughout the transaction process, offering assistance to both parties. Furthermore, the attorney maintains neutrality and will not advocate for either the buyer or the seller in the event of a dispute regarding the closing procedures of the home.
Typically, both the Buyer and Seller will be present at the closing unless documents have been signed ahead of time or remotely. The Buyer and Seller will individually review and sign the necessary documents. It's important to note that if a husband and wife jointly own property in both of their names, both parties must attend the closing. Realtors often choose to attend the closing as well, and sometimes, loan officers may be present, too.
Regardless of whether you're the buyer or seller, you should have two valid forms of identification. Usually, a driver's license and a Social Security card will suffice. You can also present other types of government-issued identification, such as a passport, military ID, or voter registration. The buyer must bring sufficient funds to close the deal in the form of certified funds. Of course, the seller must bring the keys to the property. You might be surprised at how often this last step doesn't happen - most often by accident.
We should state upfront that every real estate law firm in South Carolina may have different fees and pricing structures. At Cobb Hammett, LLC, we provide transparent pricing information for every client who walks through our doors. With that said, residential real estate closing lawyers usually charge a flat fee for handling the closing process. Typically, this fee amounts to several hundred dollars, and in some cases, it can exceed $1,000.
Many clients only interact with their real estate closing attorney during the actual closing and may question the reasons behind the fees. However, there is a significant amount of work that closing attorneys must complete in preparation for the closing to ensure the proper transfer of property from sellers to buyers.
To begin, your closing attorney will conduct a title search to verify the status of the property. The title search will confirm that the seller holds complete ownership of the property and is authorized to transfer it to the buyer. The title search will also reveal any easements, encroachments, or other restrictions that may affect the property. The attorney will also draft a title opinion to be provided to a title company. This document is used if the buyer decides to obtain title insurance.
The role of a closing attorney extends beyond the closing meeting. After the closing, they update the title on the local registry of deeds and record the deed and mortgage, if applicable. They are also responsible for disbursing fees such as brokerage fees, taxes, loan payoffs, seller proceeds, insurance premiums, and inspection fees.
If issues arise after the transaction, the closing attorney may help resolve them. Their guidance is essential for a smooth ownership transfer and ensuring all legal requirements are understood by the parties.
If you've bought property in different states, don't presume that your experience in South Carolina will be the same. Real estate regulations differ from one state to another. For instance, while South Carolina does not mandate a comprehensive home inspection, it does require a termite inspection. Additionally, unlike many other states, a lawyer must supervise all real estate closings in South Carolina. Under South Carolina law, a lawyer is required to assist both the buyer and seller in the following circumstances:
This is not an easy procedure. Fortunately, working with a knowledgeable real estate attorney in Reidville, SC. from Cobb Hammett LLC helps ensure that every step is executed correctly - safeguarding your financial and legal interests.
Refinancing typically involves the rearrangement of a mortgage. In effect, this means replacing an old mortgage with a new one. Many homeowners in South Carolina choose to refinance their mortgages to reduce their interest rates, shorten their repayment terms, or capitalize on the equity they have accumulated.
With that said, a lawyer's oversight is necessary for closing on a home refinance. The mortgage will be tied to the property and influence the title. After the refinancing documents are signed, a knowledgeable real estate attorney will verify that the lender obtains all original documents, that the new mortgage is registered, and that all title policies are prepared to align with the loan obligations. At Cobb Hammett LLC, we always adhere to South Carolina consumer home loan laws to ensure that all refinancing processes comply with state regulations and standards.
In accordance with the South Carolina Consumer Protection Code, the buyer normally selects the closing attorney. This ensures that the attorney provides the buyer with a clear title to the property as intended. Realtors and lenders must respect the buyer's decision regarding the closing attorney.
At Cobb Hammett, LLC, our firm treats both the buyer and seller equally throughout the transaction process, offering assistance to both parties. Furthermore, the attorney maintains neutrality and will not advocate for either the buyer or the seller in the event of a dispute regarding the closing procedures of the home.
Typically, both the Buyer and Seller will be present at the closing unless documents have been signed ahead of time or remotely. The Buyer and Seller will individually review and sign the necessary documents. It's important to note that if a husband and wife jointly own property in both of their names, both parties must attend the closing. Realtors often choose to attend the closing as well, and sometimes, loan officers may be present, too.
Regardless of whether you're the buyer or seller, you should have two valid forms of identification. Usually, a driver's license and a Social Security card will suffice. You can also present other types of government-issued identification, such as a passport, military ID, or voter registration. The buyer must bring sufficient funds to close the deal in the form of certified funds. Of course, the seller must bring the keys to the property. You might be surprised at how often this last step doesn't happen - most often by accident.
We should state upfront that every real estate law firm in South Carolina may have different fees and pricing structures. At Cobb Hammett, LLC, we provide transparent pricing information for every client who walks through our doors. With that said, residential real estate closing lawyers usually charge a flat fee for handling the closing process. Typically, this fee amounts to several hundred dollars, and in some cases, it can exceed $1,000.
Many clients only interact with their real estate closing attorney during the actual closing and may question the reasons behind the fees. However, there is a significant amount of work that closing attorneys must complete in preparation for the closing to ensure the proper transfer of property from sellers to buyers.
To begin, your closing attorney will conduct a title search to verify the status of the property. The title search will confirm that the seller holds complete ownership of the property and is authorized to transfer it to the buyer. The title search will also reveal any easements, encroachments, or other restrictions that may affect the property. The attorney will also draft a title opinion to be provided to a title company. This document is used if the buyer decides to obtain title insurance.
The role of a closing attorney extends beyond the closing meeting. After the closing, they update the title on the local registry of deeds and record the deed and mortgage, if applicable. They are also responsible for disbursing fees such as brokerage fees, taxes, loan payoffs, seller proceeds, insurance premiums, and inspection fees.
If issues arise after the transaction, the closing attorney may help resolve them. Their guidance is essential for a smooth ownership transfer and ensuring all legal requirements are understood by the parties.
Commercial real estate transactions are distinct from residential real estate dealings in several aspects. Generally, commercial real estate provides less protection for purchasers while enabling more extensive negotiation and deal-making. Due to this dynamic, enlisting a knowledgeable attorney to represent you can be extremely beneficial and can help safeguard your legal and financial interests.
Our team of seasoned real estate attorneys has experience supporting clients in a wide array of commercial closing issues, including:
Commercial real estate closings in South Carolina require a significant amount of documentation, legal formalities, and terminology that can be daunting and confusing for buyers and sellers in real estate. If you require document reviews, assistance in forming a legal entity to facilitate the commercial real estate buying process, or help with negotiating the real estate purchase, Cobb Hammett is ready to assist.
At Cobb Hammett, we take pride in assisting clients from diverse backgrounds as they manage real estate transactions, including purchases, sales, and refinancing. As a premier real estate law firm located in Charleston, South Carolina, we provide tailored, high-quality legal services for residential and commercial closings and more. We champion your best interests, making certain that you do not enter into any agreements that could compromise your financial or legal standing.
As your dedicated real estate law attorney, we provide reliable representation for matters like:
If you're in search of a proactive, effective real estate attorney who addresses every aspect of your residential or commercial closing in South Carolina, look no further than Cobb Hammett, LLC. Contact our office today with your questions or real estate pain points. We'll take the time to listen and will recommend a tailored approach to your legal real estate needs.
Reidville Road, Moore-Duncan Highway and East Main Street in Spartanburg are among several major roads that would be repaved with funding from a new six-year penny sales tax if voters approve in November.In all, 34 major asphalt pavement projects would be completed by the sixth year the tax is collected, according to a list the Spartanburg County Council forwarded to a six-member commission. The commission will draft the language of a referendum to appear on the November ballot.In addition, there are numerous countywide stormwa...
Reidville Road, Moore-Duncan Highway and East Main Street in Spartanburg are among several major roads that would be repaved with funding from a new six-year penny sales tax if voters approve in November.
In all, 34 major asphalt pavement projects would be completed by the sixth year the tax is collected, according to a list the Spartanburg County Council forwarded to a six-member commission. The commission will draft the language of a referendum to appear on the November ballot.
In addition, there are numerous countywide stormwater and intersection improvement projects and hundreds of neighborhood street repaving projects that would be paid for by the penny tax, which is estimated to generate $478 million over six years.
If approved, the sales tax would continue to be applied to items purchased in the county when the current penny tax – which was raised from 6 cents to 7 cents in 2018 – expires April 30, 2024.
"It is imperative that we fix our roads and intersections now because every day that goes by without them being repaired they fall further into a state of disrepair. The cost then goes up exponentially," County Councilman David Britt said.
The county maintains more than 1,700 miles of roads and 150 bridges. An estimated 45% of them are classified as in poor condition, and the S.C. Department of Transportation estimates that 60% of the state's secondary roads in the county are also in poor condition.
Britt said many roads were built more than 50 years ago and not designed to handle the weight of vehicles of today, such as SUVs and large trucks that deliver goods to distribution centers and grocery stores.
All County Council and several City Council members have stated support for a new penny tax, saying it is the least painful way to fix what is the number one local issue for many residents.
"I think its the best thing to do," said County Councilman Bob Walker. "It's the fairest way and the best way, and it's spread out. I'm elected by the citizens, and that's who I work for. If they want to discuss the penny tax with me, I'm available."
County Councilman Justin McCorkle said the penny tax is "the best option … to get the best bang for the buck, so to speak.
"This option provides the least burden on citizens and the greatest impact on roadway improvements," McCorkle said.
Britt said he was recently asked why the county doesn't simply use tax revenues from new companies coming to Spartanburg County to pay for road improvements.
"I told the resident it would take over 125 years to just generate the money that the penny sales tax will generate in six years," Britt said. "Today the question is how are we going to pay to fix the roads?
"Either have an astronomical property tax increase that no one wants or use the penny sales," Britt said. "Thirty-five percent or more of the revenues generated by the penny sales tax will be paid for by people who do not live in Spartanburg that use our roads. Why not let them help us pave our roads."
County Councilman Jack Mabry said, "As long as we wait till the current penny sales tax for the courthouse is sunset and we put it to a vote, I feel the penny sales tax is the best way to address our roads. I am not a big fan of back-to-back penny tax, but if we want better roads this is the bet way to address it."
Public Works Director Travis Brown estimated a backlog of $500 million in roads that are in need of repair.
Brown, who compiled the list of road projects spread over six years, told council members the projects will be "concentrated in areas of higher growth" and take into account pavement condition, traffic counts, crash data and functionality.
The project list is divided into six tiers, with the first tier being the highest priority to start in the first year, and the sixth tier the lowest priority in the final year of the penny tax.
Here is a look at major projects planned under Tier 1 if the penny tax referendum commission approves the list to appear on the November ballot:
Tier 1, asphalt pavement improvement:
Moore-Duncan Highway (SC 290), from Reidville Road to Rogers Bridge Road, 2.75 miles, $6.6 million; Moore-Duncan Highway (SC 290) from Meauly Road to N. Danzler Road, 1.4 miles, $3.6 million; Reidville Road (SC 296), from SC 290 to SC 295, 5.5 miles, $14 million; E. Main Street in Spartanburg, from US 29 to Converse Street, 2.9 miles, $1.4 million.
Tier 1, intersection improvement:
Zion Hill Road at Sloan's Grove Road, a roundabout, $3 million.
Tier 2, asphalt pavement improvement:
Main St./E. St. John St./W. St. John St., from SC 296 to Cherokee County line, 11 miles, $22 million; Cherry Hill Road, from US 29 to River Street, 3.2 miles, $2 million; Foster Street, from Cannons Campground Road to US 29, 2.8 miles, $1.1 million.
Tier 2, bridge replacement:
Alverson Road bridge, Campobello, $4.5 million; Freys Drive bridge, Spartanburg westside, $2.75 million.
Tier 2, intersection improvement:
US 176 at Dogwood Club Road, $2.5 million; Floyd Road at Cannons Campground Road, $1.5 million.
Tier 3, asphalt pavement improvement:
Rutherford Street, from I-26 to US 176, 2 miles, $2.8 million; Redland Road, from SC 14 to Red Hill Lane, 1.3 miles, $1.1 million; Brockman/McClimon Road, from I-85 to SC 101, 1.5 miles, $3.4 million; Abner Creek Road, from SC 101 to Westmoreland Road, 4.6 miles, $3.9 million; Cavins Road, from E. Hayne St. to E. Georgia Road, 1.6 miles, $1.4 million; Peanut Road, from East Georgia Road to US 221, 1.8 miles, 1.5 million; Edwards Road, from Fountain Inn Road to SC 101, 2.5 miles, $2.1 million; Fernwood/Glendale Road, from SC 29 to Clifton/Glendale Road, 3.1 miles, $6.6 million.
Tier 3, bridge replacement:
Grand Canyon Road bridge, Inman, $1.75 million; Calvary Road bridge, Inman, $1.75 million.
Tier 3, intersection improvement:
Gossett Road at Cannons Campground Road, $3 million; SC 129 at Carver/Bobo, $3 million; SC 292 at Bishop Road, $3 million.
Tier 4, asphalt pavement improvement:
Southport Road from SC 215 to US 176, 12.6 miles, $24.6 million; Old Canaan Road, from SC 295 to Canaan Road, 2.9 miles, $2.5 million.
Tier 4, bridge replacement:
Settle Road bridge, Inman, $2 million; Landrum Mill Road bridge, Landrum, $2 million.
Tier 4, intersection improvement:
SC 357 at SC 358, $3.5 million; Old Converse Road at Cannons Campground Road, $2 million; Double Bridge Road at Hanging Rock Road, $3 million; Hammett Store Road at SC 357, $3 million.
Tier 5, asphalt pavement improvement:
Reidville Road from SC 295 to W. Main St., 2.4 miles, $4.5 million; US 221, from Southport Road to Barnwell Road, 6.2 miles, $29.5 million; Camelot Drive from US 29 to SC 296, 1 mile, $2 million; N. Daniel Morgan Ave., from US 29 to N. Church St., 0.4 miles, $722,975; Powell Mill Road, from SC 29 to Front St., 1.3 miles, $1.1 million; Powell Mill/Textile Road, from Front St. to Vanderbilt Road, 1 mile, $851,840; Powell Mill Road, from Powell Mill to Textile St., 0.6 miles, $477,030; Oak Grove Road, from S. Blackstock Road to Reidville Road, 0.67 miles, $856,099; Oak Grove Road, Reidville Road to South Blackstock Road, 1.1 miles, $1.4 million.
Tier 5, bridge replacement:
Stewart Road bridge, Pauline, $2.5 million; Rock Hill Church Road bridge, Inman, $2.5 million.
Tier 5, intersection improvement:
Battleground Road at US 29, $4.5 million; Old Furnace Road at Sugar Ridge Road, $3.5 million; Mt. Zion Road at John Dodd Road, $3 million; W. Henry St. at S. Forest St., $3.5 million.
Tier 5, county road corridor reconstruction:
Plainview Drive, from US 29 to Cannons Campground Road, 1.1 miles, $3.5 million; Blalock Road, from SC 9 to Old Furnace Road, 0.9 miles, $3.5 million.
Tier 6, asphalt pavement improvement:
SC 101, from Arnold Road to Rogers Bridge Road, 11.3 miles, $27 million.
Tier 6, bridge replacement:
RC Thompson Road bridge, Chesnee, $1.75 million; Bearden Road bridge, Roebuck, $2.25 million.
Tier 6, county road corridor reconstruction:
Upper Valley Falls Road from Valley Falls Road to US 176, 1.2 miles, $4.75 million; Hammett Store Road, from Hampton Road to SC 357, 2.2 miles, $6 million; Floyd Road, from Cannons Campground Road to US 221, 1.7 miles, $4.75 million; Genoble Road, from Victor Hill Road to Robinson Road, 0.9 miles,, $3.75 million; Foster Road, from SC 11 to Compton Bridge Road, 4.1 miles, $14 million.