Is it typical that a seller ALWAYS pays for closing costs or a large part of them in South Carolina?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Is it typical that a seller ALWAYS pays for closing costs or a large part of them in South Carolina?

think I need an advocate, not sure

Asked on November 8, 2018 under Real Estate Law, South Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

The default is that closing costs are borne by the buyer. But the parties can contract or agree for the seller to pay some or all of them--such a change in who pays what is legal, as long as it's part of the contract. As for what is common or usual--depends on where you are and how strong the RE market is. To oversimplify: buyer's market, the buyer has the leverage to ask for this, and will therefore often it. Seller's market, the buyer has little or no leverage, so there's no reason the seller would pay.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption