The South Carolina residential purchase and sale agreement is a contract that lays out the terms of an agreement between a seller and an interested buyer for the purchase of a piece of real estate. In addition to the purchase price, property description, and closing date, the document will also include any conditions the buyer will need to fulfill before purchase, such as an earnest money payment, a down payment, and acquiring financing and insurance.
Once an initial agreement has been drafted, its terms can be updated by both parties until a final version is agreed upon and signed, at which point the contract will become legally binding.
South Carolina Agreement to Buy and Sell Real Estate (Residential) – This purchase agreement form is provided by the South Carolina Association of Realtors to be used for the sale of residential real estate in the state.
1) Coastal Tidelands And Wetlands
If the property being sold is located in whole or in part seaward of the setback line the seller must relay this to the buyer. Furthermore, they will need to relay the local erosion rate. However, these are only regulatory guidelines and do not affect the legality of a lease that violates them.
If selling a property built before 1978, the seller must furnish the buyer with this disclosure which contains information on the dwelling’s history of lead-based paint.
All property sellers must provide this condition report to buyers prior to completing a residential real estate agreement. This document details the seller’s current knowledge of the material condition of the property.
