Buying a home in South Carolina
In South Carolina, home sellers must provide potential buyers with a disclosure agreement. The law of the state requires that disclosure contains information on the following:- History of infestations of wood-destroying insects
- Building codes, zoning laws, or boundary disputes
- Water supply and sewage disposal
- Roof, foundation, basement, floors, and chimneys
- Electrical, plumbing, and heating systems
- Asbestos, lead-based paint, radon gas or other toxic material
- Rental or any other lease agreements there may be on the property
Refinancing a home in South Carolina
In South Carolina, you’ll be assumed to be "flipping" your mortgage if you refinance within 42 months of your current loan being closed. Don’t worry. As long as you’re getting one of the obvious benefits of a refinance, this shouldn’t trip you up. Allowable benefits of a refinance include things like:- Lowering your mortgage rate
- Paying off the home faster (by shortening the loan term)
- Tapping your equity with a cash-out refinance
- Lowering your monthly payment