Off-Market Investment Properties in South Carolina

Buying an Investment Property in South Carolina

The basics that change from state to state. This is general information, not legal or tax advice. Confirm the details for your deal with a local real estate attorney or title company.

Closings

Under South Carolina Supreme Court rulings, a licensed attorney must conduct or supervise residential real estate closings.

Transfer tax

South Carolina's deed recording fee is $1.85 per $500 of value ($1.30 state plus $0.55 county), about 0.37%. The seller customarily pays it.

Foreclosures

South Carolina foreclosure is judicial, and the sale is usually held by the county Master-in-Equity. Unless the lender waives a deficiency judgment, bidding stays open for 30 days after the sale.

Wholesaling and assignments

South Carolina's Act 204 (2024) treats marketing a property before you hold title as wholesaling that requires a broker license. A November 2024 Real Estate Commission advisory opinion says this includes private email lists.

Also worth knowing

Rental and second-home property is assessed at 6% of value for property tax, versus 4% for an owner's primary residence, which also skips school operating millage. Expect a much higher tax bill on a rental than the owner-occupant paid.

Sources

• SC Department of Revenue: Deed Recording Fee
• State v. Buyers Service Co. (S.C. 1987)
• S.C. Code Title 15, Chapter 39 (judicial sales, 15-39-720)
• S.C. Code Title 12, Chapter 43 (assessment ratios, 12-43-220)