We Buy Houses for Cash in South Carolina

Two things set South Carolina apart for a seller. First, the state's Supreme Court has said that real estate closings should be conducted only under the supervision of attorneys, so a lawyer is part of every sale. Second, foreclosure here runs through the courts, often before a master-in-equity, with a 30-day upset bid period in many cases. Add coastal storm damage and family land passed down without a will, and a listing can get complicated. Swifty Home Buyers buys South Carolina houses for cash, as-is, with no agent commissions and no repairs, and you choose the closing date.

We buy houses in all 50 states. This guide covers the rules that matter in South Carolina.

South Carolina does not call it a transfer tax, but the deed recording fee in Title 12, Chapter 24 does the same job. The Department of Revenue lists the total at $1.85 for each $500 of value, or fraction of $500: a state portion of $1.30 and a county portion of 55 cents. On a $250,000 sale that is $925. Under Section 12-24-20, the fee is the liability of the grantor, which is the seller, with the grantee, the buyer, secondarily liable. The statute flips that for a few kinds of deeds, including a master-in-equity deed, where the grantee is liable instead. Section 12-24-40 exempts some transfers, such as deeds where the value is $100 or less and certain no-consideration transfers into a corporation, partnership or trust by its owners or beneficiaries. The county clerk of court or register of deeds collects it at recording. You will also see attorney fees, loan payoffs, prorated property taxes and, in a listing, agent commissions, which are negotiable and usually the biggest line. In a cash sale to Swifty there are no agent commissions and no repair requests, and we show you the numbers in writing before you commit.

Foreclosure in South Carolina is judicial: the lender files suit in circuit court, and in many counties the case goes to the master-in-equity, a judge who hears foreclosures and conducts the sale. Under Section 15-39-650, a sheriff's sale of land must be publicly advertised for the three weeks immediately before the sale day, and your attorney can confirm the notice that applies to a master-in-equity sale. The distinctive part comes after the auction. Section 15-39-720 says that in judicial foreclosure sales the bidding is not closed on the day of sale but stays open until the thirtieth day after it, and during that time anyone other than the high bidder can raise the bid with a deposit, while the lender is limited to the single bid it made at the sale. Section 15-39-760 makes that 30-day window unnecessary when no personal or deficiency judgment is demanded and that right is expressly waived. If the lender does seek a deficiency, Section 29-3-660 lets the court order the borrower to pay the unpaid balance, but Section 29-3-680 lets the borrower petition within thirty days after the sale for an appraisal, done under Section 29-3-700 by three disinterested people at the property's true value as of the sale date; if the appraised value covers the remaining debt, the deficiency judgment is extinguished. South Carolina's federally funded Homeowner Rescue Program has closed after spending all its funds, and SC Housing now points homeowners to nonprofit foreclosure counselors and legal help through 211. Because the process moves through court, there is often time to sell first and keep your equity out of the auction.

• Sell as-is
• Inherited house
• Foreclosure
• Tenants or rental property

Horry County and the Grand Strand

The Horry County Master-in-Equity describes its office as a division of the South Carolina State Circuit Court. Its foreclosure sales are held at 11:00 a.m. on the first Monday of each month, or the first Tuesday if that Monday is a holiday, at 1301 Second Avenue in Conway. When a foreclosure includes a deficiency demand, the office says the sale stays open for 30 days for an upset bid sale, and the lender cannot take part in upset bidding. Winning bidders post a 5 percent deposit and must pay the balance by the 30th day after the sale closes.