South Carolina Closing Form 400 is a critical legal document used in real estate transactions for closing residential properties in the state of South Carolina. This form is provided by the South Carolina Real Estate Commission and is typically completed by the seller's attorney or the closing company. The South Carolina Closing Form 400 encompasses all the essential information and disclosures required to complete a property sale. It ensures that the buyer and seller are aware of the terms of the sale and establishes a legally binding agreement. This comprehensive form covers various aspects of the transaction, including the property's details, purchase price, financing arrangements, closing date, and prorations. The South Carolina Closing Form 400 is divided into sections that address specific areas of the real estate transaction. These sections include: 1. Property Information: This section requires detailed information about the property being sold, such as the address, legal description, and tax map number. It allows for an accurate identification of the property. 2. Purchase Price: Here, the buyer's offer amount is specified, including earnest money deposits and any seller concessions. Any additional terms related to the purchase price, such as buyer financing or contingencies, may also be included. 3. Financing: This section outlines the buyer's financing arrangements, including the type of loan, interest rate, down payment, and any loan conditions or contingencies. 4. Closing Costs and Prorations: Details of the closing costs split between the buyer and seller are included in this section. It also includes prorations for property taxes, HOA fees, and other costs, ensuring a fair allocation between the parties. 5. Closing Date and Possession: The agreed-upon date for the closing is stated, along with any specific conditions related to possession of the property, if applicable. 6. Additional Terms and Conditions: This section covers any additional terms and conditions agreed upon by the buyer and seller that are not covered elsewhere in the form. This may include contingencies, repairs, or specific arrangements between the parties. It is important to note that the South Carolina Closing Form 400 is specific to residential real estate transactions in South Carolina. Other types of closing forms may be used for commercial properties or in different states. However, South Carolina Closing Form 400 is the standard form used for residential closings in the state. Completing the South Carolina Closing Form 400 accurately and thoroughly is essential to ensure a smooth and legally compliant real estate transaction. It protects the interests of both the buyer and seller, providing a transparent and fair process for closing a residential property in South Carolina.
South Carolina Closing Form 400
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How to fill out South Carolina Closing Form 400?
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400-IS. Title and Registration Application Information Sheet.
If your license plate is expired, you do not need to return your license plate. Only active license plates can be returned. If you're moving to a new state, you must first update your vehicle insurance company and then return your license plate once you register your vehicle in your new state.
South Carolina law requires a bill of sale only when the sales price and odometer reading cannot be included on the back of the vehicle title. If this is the case, then a Bill of Sale should have the following information on it: Year, Make and Model of the Vehicle.
If your license plate is expired, you do not need to return your license plate. Only active license plates can be returned. If you're moving to a new state, you must first update your vehicle insurance company and then return your license plate once you register your vehicle in your new state.
You will need that title and the items below to "officially" put the title in your name. First assignment completed on title: buyer's name and address, lienholder information (if applicable), odometer reading, sales price, date of sale, seller's signature, buyer's signature.