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A South Carolina real estate contract, also called a residential real estate purchase and sale agreement, is a legally binding contract executed by a buyer and a seller to facilitate the sale of real property. The purpose of this contract is to protect both parties throughout the property buying process. This is achieved by including certain requirements that each party must meet before the sale can be finalized.
For example, a buyer may be required to obtain financing and insurance before being eligible to move forward with the sale. On the other hand, a seller will be required to provide the buyer with disclosures about any issues or defects with the property.
The most common South Carolina real estate contract is the South Carolina Association of Realtors agreement to buy and sell real estate. This fillable template ensures that all requirements of the real estate contract are addressed.
Other contracts commonly used in South Carolina include:
South Carolina real estate contracts are governed by the Statute of Frauds. Under these laws, all contracts that involve buying or selling real property must be in writing. In addition to the writing requirement, all contracts need to include the following 4 essential contract elements:
Real estate contracts must contain specific information to facilitate the purchase and sale of real estate. In South Carolina, the following information should be included in all real estate contracts:
If the real estate contract is missing any of these required elements, it may be deemed invalid and unenforceable.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
Owner and operator of Meek Law Firm, PC. Meek Law Firm provides comprehensive business law representation, precise and informed representation for real estate transactions in the commercial and residential markets of North and South Carolina and efficient succession and estate planning for business owners and individuals.
Ryan Duffy is a skilled attorney with extensive experience in business law and estate planning. He received his undergraduate degree in Business from Franklin & Marshall College and went on to graduate from Villanova University Charles Widger School of Law. Ryan has worked with numerous clients on matters ranging from business formation and contract drafting to estate planning and asset protection. He is dedicated to helping businesses of all sizes achieve their goals while minimizing legal risks. He also works closely with individuals and families to help them protect their assets and plan for the future. With his extensive knowledge and practical approach, Ryan can provide valuable legal guidance and support to clients in need of business law and estate planning services.
Generated 20+ types of legal documents: contractual agreements, settlement agreements, demand letters, court orders, motions, mediation reports, briefs, complaints. Maintained active caseloads of 30+ clients at a time in high conflict, high emotional costs litigation. Prepared for daily client meetings, weekly trials, multiple daily hearings by creating legal documentation, timelines, case notes, conducting research.
Business Venture Law: Andrew Moore, Esq. focuses on solving modern business problems with common sense at affordable rates.
Attorney with 10 years experience focusing on corporate transactions and formations, real estate, and estate planning.
