Is it typical that a seller ALWAYS pays for closing costs or a large part of them in South Carolina?

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Is it typical that a seller ALWAYS pays for closing costs or a large part of them in South Carolina?

think I need an advocate, not sure

Asked on November 8, 2018 under Real Estate Law, South Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

The default is that closing costs are borne by the buyer. But the parties can contract or agree for the seller to pay some or all of them--such a change in who pays what is legal, as long as it's part of the contract. As for what is common or usual--depends on where you are and how strong the RE market is. To oversimplify: buyer's market, the buyer has the leverage to ask for this, and will therefore often it. Seller's market, the buyer has little or no leverage, so there's no reason the seller would pay.


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