Did you know, over 60% of home sellers in the US admit to hiding known property issues? Many buyers think they’re getting a fair deal—until the problems surface. By then, it’s too late. Legal battles, unexpected costs—no one wins!
But you don’t need to worry. A seller’s disclosure is your safeguard against all of that. By being upfront, you protect yourself and your transaction. What’s more, Houzeo makes listing on the South Carolina MLS easy and guarantees transparency at every step.
What Is a Seller Property Disclosure in South Carolina?
In South Carolina, a Seller’s Disclosure is a legal document that details your home’s condition and history. Disclose any known flaws, such as hurricane damages or mold, that could impact the property’s value. This allows buyers to make an informed decision and avoid nasty surprises.
Is a Seller Disclosure in South Carolina Mandatory?
Yes! South Carolina real estate law requires you to disclose any material defects in real estate. If your property has a leaky roof, sinkhole risk, or even a termite infestation, you must disclose it. Don’t risk skipping this step—it’s the law.
What Must You Disclose on the Seller Disclosure in South Carolina?
In South Carolina, sellers must disclose known defects, including structural issues, water damage, and environmental hazards. Ensure that you disclose these issues if they exist, especially if you are selling a house by owner in South Carolina:
1. Material Defects
- Structure and Appliances: If your HVAC system is on its last leg, be upfront about it. South Carolina’s humid weather can wreak havoc on appliances as well as plumbing.
- Drainage and Flooding: Disclose past flood damage, especially if you live in flood-prone areas like Miami or Tampa. Do not forget to mention the dates and any history of drainage issues.
- Plumbing: State the source of potable water and if there are issues with it. Also, mention any unused wells or tanks on the property, as well as issues with the sprinkler or plumbing systems.
- Pools and Water Features: Highlight safety features like enclosures and barriers. If you’ve got a pool, make sure it’s up to code. South Carolina law mandates that all pools built after October 2000 meet the safety guidelines in the Residential Swimming Pool Safety Act.
2. Code Violations
- HOA Restrictions and Boundaries: State law requires homeowners to be members of the HOA. Therefore, you must disclose HOA fees as well as resale and lease restrictions.
- Government Restrictions: Reveal any violations of zoning rules, construction breaches, safety codes, or restrictions on property additions. Also, disclose any unrecorded liens.
3. Environmental Hazards
- Health and Safety Risks: Disclose the presence of lead-based paint, asbestos, mold, or radon gas.
- Infestations: South Carolina is notorious for termites. If you’ve had an infestation or damage, make sure it’s disclosed when selling a house as is in South Carolina.
- Sinkholes: You must disclose any nearby sinkholes or weak areas that could be prone to caving in. Also, include any past claims you’ve raised related to these issues.
- Environmental Damage: Mention any past environmental damage or repairs. Also, specify if there are any sensitive areas like mangroves on the property.
4. Federal Disclosure Requirements
If your house was built before 1978, you must disclose any lead-based paint hazards. Even for newer homes, the Lead-Based Paint Hazard Reduction Act of 1992 requires sellers to:
- Provide an EPA-approved pamphlet on lead hazards.
- Include the Lead Warning Statement in the contract.
- Disclose any known lead-based paint on the property.
What Can You Skip in a South Carolina Disclosure Statement?
South Carolina law doesn’t require you to include specific details in a disclosure for real estate statement, such as:
- Deaths or suicides on the property, as long as they don’t affect its condition.
- The presence of a registered sex offender in the area (buyers can check public databases).
- Any claims or beliefs that the property is haunted.
- Whether previous occupants had AIDS or HIV.
What Is the Penalty for an Incorrect South Carolina Home Disclosure?
Failure to disclose real estate law in South Carolina can lead to severe penalties for lying or omitting information on the South Carolina property disclosure form.
- Lawsuits for Damages: If you don’t disclose major defects, the buyer can sue you for repair costs. However, they must prove that you knew about the defect and deliberately withheld the information.
- Contract Rescission: The buyer can cancel the contract if any key information was intentionally or unknowingly undisclosed. They can also seek reimbursement for expenses already incurred.
- Fraud Charges: If you knowingly provide false information or omit material facts, you may be liable for civil fraud. You may have to pay hefty financial penalties, including compensatory and punitive damages.
- Legal Fees: If the buyer wins a lawsuit, you may be responsible for both the damages and the buyer’s attorney fees. This can significantly increase your financial burden.
How to Minimize Issues in the SC Seller’s Disclosure Form?
To reduce issues with your seller disclosure in South Carolina, be thorough, accurate, and proactive. Here’s how:
- Complete a Pre-Sale Inspection: Get a thorough home inspection and fix what you can. This reduces the number of defects you have to disclose.
- Review the Disclosure Carefully: Check for unclear wording or missed disclosures. If you don’t comply, you risk legal trouble or losing the buyer.
- Consult with Professionals: If you’re unsure about the disclosure agreement, consult a real estate attorney in South Carolina. They understand local real estate disclosure laws and can help you with the seller disclosure requirements.
- Keep All Bills and Records: These act as supporting documents to your seller disclosure. They also prove that you have addressed any known issues.
How Important Is the Seller’s Disclosure Statement in South Carolina?
The seller’s disclosure statement in South Carolina is essential for maintaining transparency in the transaction. It ensures the buyer is aware of any known defects or issues with the property.
Currently, the South Carolina Real Estate inventory gives buyers ample choices. The market is competitive and buyers can walk away if they discover hidden issues. So, you must be transparent when completing the seller disclosure.
