In South Carolina, sellers are required to file a disclosure statement prior to selling a home. Failing to file a disclosure statement or omitting known defects could affect the sale of the property. It is important to work with a closing attorney to determine what legal requirements you must meet with any purchase or sale of real estate.
At Carolina Coast Closings, our lawyers will help you understand your rights and responsibilities when it comes to the purchase or sale of your home. We offer both in-person and virtual closings. Get legal representation you can trust. Contact our office at (843) 962-2735 to schedule a free, no-obligation consultation.
According to the South Carolina Code of Laws section 27-50-40, sellers must provide purchasers with a written disclosure statement.
A seller’s disclosure statement must include information about:
A seller is also required to disclose any material defects that may affect the buyer’s decision to purchase the property. Failure to disclose any of the above information can result in the sale being voided or additional problems.
If a seller fails to disclose information in a disclosure form or provides information that they know is “false, incomplete, or misleading,” they may face civil liability. State law allows a seller to be found liable for actual damages caused to the buyer. The seller may also have to pay court costs and attorney fees in some cases.
A material defect is typically one that could affect a buyer’s decision to purchase the property. An attorney can help determine whether something is a material defect that must be disclosed. It is important to discuss your case with an attorney to ensure that you disclose anything that may be relevant to the sale of your property.
If you do not disclose information or provide misleading information, you could be held liable for any damages caused to the purchaser. Working with an attorney can help avoid these pitfalls during the sale of your property.
Are you considering selling your property in South Carolina? Contact Carolina Coast Closings at (843) 962-2735 to schedule a free consultation. We are well-versed in handling even complex transactions.
Our lawyers will work with you one-on-one to ensure your closing goes smoothly and that you meet all legal requirements. Call our office today to speak with a closing attorney. Get the results-driven representation you can trust. Do not wait. South Carolina requires an attorney to be present at real estate closings. Call now to get started.
