You have a contract once the offer is accepted and signed off on by ALL parties. Only written, fully signed contracts are enforceable – verbal contracts are not enforceable. Getting the offer signed off on will happen as quickly as possible but can take some time. It is important that you sign off on any changes as soon as possible so you can be officially under contract and have an enforceable contract. Once the contract is signed by everyone, the ball starts rolling.
Some states have attorney review and you are not officially under contract until the attorney reviews the offer. South Carolina is NOT an attorney review state.
The contract is sent to your chosen attorney. Most likely, you will not be using the same attorney as the Seller. If I am your REALTORⓇ, I will handle this part for you.
You will receive a call or email from your chosen attorney. They will open a file for your closing and start the title search to make sure there are no liens on the home and you will receive a clear title.
Your attorney or the Sellers’ attorney (depending on who is paying the HOA transaction costs) will also order a Certificate of Assessment from your HOA office, if applicable.
As we get closer to the closing date, we will schedule a firm date and time for closing. 99% of the time, closing will happen on the date listed on the contract.
Meanwhile, the sellers’ attorney will prepare the Deed to be signed at closing.
The Buyers’ side of the closing will happen at their attorney’s office, and the Sellers’ side of the closing will happen at their attorney’s office on the day of closing. You may also elect to have your closing handled by mail. If that is the case, the attorney will overnight the documents to you to sign and return to their office.
Once all documents are received, they will be sent to the Register of Deeds office in the appropriate county to be recorded. Recording typically happens that day or the next day. You officially own the home once the Deed is recorded.
To learn more about the full closing process, read “Closing Process in Murrells Inlet, SC“.
