Charleston Closing Costs Explained For Buyers And Sellers

Are you trying to pin down what you’ll actually pay at the closing table in Charleston? You’re not alone. Closing costs can feel like a maze of fees, prepaids, and prorations that change from deal to deal. In this guide, you’ll see the typical line items, who customarily pays them in Charleston County, and how attorney-led closings work so you can plan with confidence. Let’s dive in.

What closing costs cover

Closing costs are the one-time fees and prepaids due when you finalize a purchase or sale. They are separate from the home’s price and your down payment.

Here are the major categories you’ll see:

• Transaction costs: brokerage commissions, attorney or settlement fees, notary and courier charges.
• Title and recording: title search, title insurance policies, and recording the deed and mortgage.
• Loan-related costs for buyers: lender fees, appraisal, credit report, and any points.
• Prepaids and escrows for buyers: first year of homeowners insurance, prepaid interest, and initial tax and insurance escrows.
• Inspections and repairs: home inspection, termite report, and any repair escrows you negotiated.
• Miscellaneous: survey, HOA transfer or estoppel fees, and wire fees.

Local customs and lender rules influence who pays what. Many items are negotiable in your contract.

Who pays what in Charleston

In Charleston County, attorneys commonly handle closings and prepare the settlement statement. The table below shows customary payers and local notes. Your final allocation will follow your contract and your attorney’s figures.

A quick rule of thumb: sellers usually cover commission and often owner’s title insurance, while buyers usually cover lender-driven costs, lender’s title policy, and prepaids. The contract can shift any of these.

Typical totals to expect

• Buyers with mortgages often pay about 2 to 5 percent of the purchase price in closing costs and prepaids. Cash buyers usually pay less because there are no lender fees.
• Sellers often pay about 6 to 10 percent of the sale price. The largest single item is the brokerage commission, followed by smaller closing fees and any negotiated credits.

These are estimates only. Your exact figures depend on price, loan type, negotiated credits, and local fee schedules. Ask for a personalized net sheet early.

How attorney-led closings work in South Carolina

In South Carolina, closings are commonly led by a licensed attorney or by a settlement agent under an attorney’s supervision. You will work with the closing attorney to collect documents, clear title, and prepare for signing day.

What the closing attorney or settlement team typically handles:

• Title search and clearing any issues or exceptions.
• Deed preparation and settlement statements.
• Coordination and payoff of any seller mortgage liens.
• Disbursement of funds and recording the deed and mortgage with the county.
• Compliance with lender timelines, including buyer delivery of the Closing Disclosure at least three business days before closing when applicable.

What you should expect and bring:

• Government-issued photo ID for all signers.
• Certified funds or a confirmed wire for cash to close. Ask for wire instructions directly from the attorney’s office and confirm by phone using a verified number.
• Proof of homeowners insurance for buyers, including the declarations page.
• Any documents requested by your lender or attorney, such as power of attorney or entity documents for trusts and LLCs.

Wire safety reminder: wire fraud targets real estate transactions. Always verify wiring instructions by calling your closing attorney using a phone number you find independently, not from an email thread.

Charleston specifics to watch

Charleston is a coastal market with historic neighborhoods and newer planned communities. A few local factors can affect your closing costs and timeline.

• Historic and peninsula properties: Older homes downtown can carry historic easements, unique title matters, or survey quirks. Your attorney may spend more time on title review, and you may order additional inspections such as structural assessments.
• Flood zones and insurance: Much of the Lowcountry is low-lying. Your lender will order a flood certification and may require flood insurance. You may also need an elevation certificate, which can add cost and time.
• HOA and condo processes: In suburbs like Mount Pleasant, Daniel Island, and Johns Island, association transfer and estoppel letters are common. Fees vary by community. Buyers may also fund reserves or orientation fees depending on the HOA.
• Property tax proration: Charleston County’s billing and assessment cycles can differ from what you may know in other states. The attorney will prorate taxes to the closing date based on local practice.
• Utilities and final reads: Some municipalities require final meter reads and transfer steps. Sellers should schedule these in advance to avoid delays.

How to get exact numbers

Your best next step is to request an early, customized net sheet that reflects your offer terms, property type, and closing date. Here is what your attorney or agent will need to create one.

Key details for buyers:

• Property address and target closing date.
• Purchase price, down payment, and loan type.
• Lender name, estimated rate, and points if any.
• Estimates for inspections, survey, and HOA fees.
• Homeowners insurance quote and any flood policy.

Key details for sellers:

• Property address and target closing date.
• Expected brokerage commission and any seller credits.
• Mortgage payoff amount and daily interest.
• HOA dues status and any transfer or estoppel fees.
• Pest or repair items you agreed to cover.

Ask your closing attorney or agent to update your net sheet whenever the contract changes. That way you can keep a tight handle on your cash to close or net proceeds.

Looking for a smooth, concierge-level experience from contract to keys? Reach out to schedule a private consultation with Gus Bright. You’ll get clear estimates, local guidance on flood and HOA nuances, and hands-on coordination with trusted Charleston closing attorneys.

FAQs

How much are closing costs for buyers in Charleston?

• Buyers with mortgages often see about 2 to 5 percent of the purchase price in total closing costs and prepaids, while cash buyers usually pay less.

How much are closing costs for sellers in Charleston?

• Sellers typically plan for about 6 to 10 percent of the sale price, with commission usually the largest line item and smaller closing fees making up the rest.

Who pays for title insurance in Charleston County?

• It is common for the seller to pay for the owner’s title policy, while the buyer pays the lender’s title policy when financing, though this is negotiable in the contract.

Do I need an attorney for a home closing in South Carolina?

• South Carolina commonly uses attorney-led closings, and a closing attorney will handle title work, settlement statements, disbursements, and recording.

Are there transfer taxes in Charleston I should plan for?

• Expect county recording fees and local recording practices. The exact impact depends on your transaction and will be confirmed by your closing attorney.

Can a seller contribute to a buyer’s closing costs?

• Yes. Seller concessions are negotiated in the contract, and lender rules may cap how much the seller can contribute.