South Carolina Deed - Public Sale

State:
South Carolina
Control #:
SC-LR048
Format:
Word; 
Rich Text
Instant download

Description

This form is a written document used to convey title to real property after property is sold at public auction by a local governmental authority for nonpayment of taxes.
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FAQ

In South Carolina, if you become delinquent in paying your property taxes, the late amounts become a lien on your home. The tax collector can then sell your home a tax sale to satisfy the lien.

Collect all information about your property first. Go through your house records. Research title insurance companies. Compare the fees presented by each company in the state. Choose a title insurance company. Wait for the completed report.

The South Carolina deed recording fee is imposed for the privilege of recording a deed, and is based on the transfer of real property from one person or business entity to another. The fee is generally imposed on the grantor of the real property, although the grantee may be secondarily liable for the fee.

As South Carolina is not a tax lien state, buyers purchase an interest in land, rather than a lien. Investors usually receive anywhere from 3% - 12% back in interest or receive the deed outright on the property. For those looking for ROI in a short time period, tax sales are certainly something to consider.

In a tax deed sale, the property itself is sold. The sale takes place through an auction, with a minimum bid of the amount of back taxes owed plus interest, as well as costs associated with selling the property. The highest bidder wins the property.

An original, wet signed document. Signature of the Party of the First Part. Two witnesses to the signature. A South Carolina Probate or Acknowledgement. A property description to include a recorded plat reference or metes and bounds description.

Alaska. Arkansas. California. Connecticut. Delaware. Florida. Georgia. Hawaii.

South Carolina is a redeemable tax deed state. In a redeemable tax deed state the actual property is sold after tax foreclosure and then the former owner has one last opportunity to redeem the property (pay the delinquent taxes). If the taxes aren't paid the investor becomes the owner.

But you won't lose your property without getting fair warning; you'll get the chance to reclaim your home after the sale because, under South Carolina law, you can "redeem" your propertyeven after someone else buys it at a tax sale.

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South Carolina Deed - Public Sale