What does seller in possession mean?

Seller’s Possession means in the actual possession of any officer or employee of Seller or its Affiliates who has direct or supervisory responsibility for or with respect to the operation of the Hotel; provided, however, that any reference in this Agreement to Seller’s Possession of any documents or materials expressly …

When to sell your house in South Carolina?

The statute applies not just to direct sales of residential property, but also to leases of property with an option to purchase (for example, if you lease your property to your neighbor for three years, and include in the contract a clause that after three years, the tenant has the right of first refusal to buy it).

Do you need a bill of sale in South Carolina?

A bill of sale is also required if any information is not included on the title. See “Title Transfers in South Carolina” above for the information that must be included. A completed Application for Certificate of Title and Registration for Motor Vehicle or Manufactured Home/Mobile Home (Form 400).

What can you do with property tax records in South Carolina?

Both buyers and sellers benefit from searching property tax records. These records provide a complete tax history for a South Carolina property, including property tax increases over time. Buyers can use property tax records to estimate future property taxes and prepare for potential increases.

What do you need when buying a car in South Carolina?

One of the first and most important documents the seller must give you is the vehicle title. Both you and the seller must fill out the reverse side of the vehicle title. The seller should also give you a bill of sale if there is no space on the title to document required information, such as the purchase price or the odometer reading.

Do you have to pay property taxes in South Carolina?

Use the radio button to determine which column to print. Click on the PRINT Screen to print your estimate. In South Carolina, the home seller pays the buyer’s property taxes for the time the seller occupied the home for the current year; and the buyer will pay the entire tax bill at the end of the year.

Do you need an attorney to buy a house in South Carolina?

The attorney will supervise the signing of all of the documents and then will have the documents recorded with the proper public office. Feel free to ask the attorney to explain any part of the legal documents at that time.

How to calculate closing costs in South Carolina?

➨ Big drop in interest rates! Easily calculate the South Carolina home seller closing expenses and net proceeds at closing. Simply enter the property sale (or list) price in column A, line 1, and then enter the various closing costs; including the seller paid closing costs (if applicable).

What’s the withholding rate for selling a house in SC?

The amount of gain is specified by the seller in an affidavit, which the attorney and buyer may rely upon. The withholding rate is 7% of gain for individuals and 5% of gain for corporations and other entities.