Real property consists of land and anything permanently attached to it — like a house, garage, or dock. Personal property refers to movable items that aren’t permanently attached — like furniture, appliances, or décor.When buying or selling a home near Lake Marion, knowing what’s included in the sale — and what’s not — can prevent costly confusion. /*! elementor - v3.23.0 - 15-07-2024...
Life By Lake Marion
The Homestead Exemption in South Carolina is a property tax reduction available to homeowners who are 65 years or older, legally blind, or totally and permanently disabled — and who have lived in their home for at least one year. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a...
A warranty deed is a legal document that guarantees a property’s title is clear and that the seller has the legal right to transfer full ownership. It offers the highest level of protection for buyers, making it the standard in most South Carolina real estate transactions. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image...
A quit claim deed is a legal document used to transfer whatever ownership interest a person has in a property — without making any guarantees about the title’s status. It’s one of the simplest ways to transfer real estate between family members, divorcing spouses, or into a trust.Unlike a warranty deed, a quit claim deed offers no protection against liens, claims, or other ownership disputes. The...
Specific performance is a legal remedy in real estate where a court orders one party to carry out their obligations under a contract — usually the sale or purchase of a property. In other words, if someone backs out of a signed real estate deal, the other party can sue to force them to complete it. /*! elementor - v3.23.0 - 15-07-2024...
Tenancy in real estate refers to the legal arrangement under which two or more people hold ownership or rights to use a property. It defines who owns what, how ownership is shared, and what happens if one party dies or wants to sell. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a...
The Closing Disclosure is a five-page document that outlines the final terms of your mortgage loan, including all costs, fees, and payments due at closing. It’s designed to protect both buyers and sellers by providing a clear, detailed summary of the financial side of the transaction. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image...
Due diligence in real estate is the period of time after a contract is signed when the buyer investigates the property before fully committing to the purchase. During this time, the buyer can inspect the home, research the title, confirm financing, and ultimately decide whether to move forward or back out. /*! elementor - v3.23.0 - 15-07-2024...
A disclosure statement in real estate is a legal document where the seller lists known issues or defects with the property. It helps protect buyers from surprise problems and protects sellers from legal claims after the sale.In South Carolina, sellers are required to complete a Residential Property Condition Disclosure Statement unless the property is exempt (like in estate or foreclosure sales). This form...
A contingency in real estate is a condition written into the purchase agreement that must be met before the sale can move forward. If the condition isn’t met, the buyer or seller may cancel the deal without penalty.Contingencies exist to protect both buyers and sellers. For example, a buyer might make an offer that’s contingent on securing financing or the home passing an inspection. Sellers,...