A) In South Carolina, the buyer and seller each have an attorney for closing.

B) You have the right to choose your attorney.

C) You may close by mail and do not have to attend the closing in person.

D) Attorneys charge a fee of about $650 plus additional fees. Your attorney and paralegal assistant will:

1. Communicate directly with the Seller’s attorney and paralegal assistant.

2. Draw the closing statement for your review.

3. Review your note and mortgage.

4. Search the title of the property.

5. Arrange for a survey.

6. Refer you to a 1031 exchange intermediary.

7. Buy title insurance for you and the lender.

8. Resolve disputes and give legal advice.

9. Explain all closing documents to you.

10. Receive and disburse the money.

11. Record your note and deed at the courthouse.

12. Form a partnership, LLC or corporation for you.

13. Provide forms for you to put utilities into your name at closing.

14. For a villa, let the Regime know that you are a new owner.

15. Withhold capital gains tax for the State of South Carolina.

• The attorney is required to withhold 7% of the purchase price at closing from non-State residents.
• You should file a South Carolina tax return to receive withheld tax in excess of what is owed as well as to avoid dual taxation in your home state.

E) Other costs the buyer will pay at closing include:

1. A .25% Transfer Tax paid to the Town of Hilton Head.

2. Escrowed property tax equal to 3-14 months payments.

3. Escrowed homeowner’s insurance of about one year’s payment.
4. 25% Transfer tax paid to the gated community but transfer fees vary.