Buyers and sellers are usually told a single number and then surprised at the table. Here is where the money goes on a typical Grand Strand closing.
What it covers. The title search and exam, the title insurance premium, the settlement or closing fee, recording fees with the county register of deeds, and the transfer tax that South Carolina charges the seller. If you are buying with a mortgage, you also pay the lender’s title policy and whatever prepaid interest and escrow your lender requires.
What it does not cover. Homeowners insurance, property tax proration for the rest of the year, HOA transfer and capital-contribution fees, or the survey if one is required. Those are real and they are separate.
What should be agreed in writing first. Our fee. For a residential resale we quote a flat fee before we open the file, and the quoted number is the number. If a file turns out to need a quiet-title action or a probate order because an owner has died, that is a separate engagement and you get a second quote before we bill it.
Ask for the settlement statement early. The Closing Disclosure has to reach you at least three business days before closing on a financed purchase. Read it. If a line does not match your quote, call before you sign, not after.