Buying a home is exciting, but that last stretch before you get the keys can feel confusing—especially when you start hearing about “closing costs.” If you are planning a move to Little River or elsewhere in Horry County, you want a clear, local picture of what you will pay and how to budget. In this guide, you will learn the typical South Carolina buyer closing costs, what is negotiable, and how to estimate your total with coastal factors in mind. Let’s dive in.
What SC buyers pay at closing
Loan costs
If you finance your purchase, you will see several lender line items. Origination or processing fees often run about 0.5% to 1.0% of your loan amount. Discount points are optional and cost 1% of the loan per point to buy down your rate. Appraisals typically range from $350 to $800, and unique coastal or waterfront properties in Little River may be higher. Smaller items like a credit report ($25 to $70) and flood certification ($15 to $50) are common on the Grand Strand.
Title and closing services
Expect fees for the title search, lender’s title insurance policy, and settlement services. Combined, these often run $400 to $1,500 depending on price and local rate schedules. An owner’s title insurance policy is optional and who pays is negotiable in our market. Recording and county deed fees are usually $10 to $200. Document preparation or attorney fees can range from $200 to $1,000 or more.
Prepaids and escrow
Lenders usually collect certain items upfront. A first-year homeowners insurance premium is often due at closing and can range from about $800 to $3,000 or more depending on coverage and coastal exposure. If your home is in a FEMA flood zone and your lender requires flood insurance, your annual premium can vary from several hundred to several thousand dollars. Property taxes in Horry County are prorated at closing. Your lender may also collect 2 to 6 months of taxes and insurance to fund your escrow account.
Inspections and surveys
Most buyers order a general home inspection, typically $300 to $700. Specialty inspections, such as pest, mold, septic, well, HVAC, or radon, each add roughly $100 to $500. Surveys range from $300 to $1,200 depending on the property and recent survey history. Surveys are helpful for boundary clarity and coastal lots.
HOA and condo fees
If the property is in an HOA or condominium, you may see an estoppel or transfer fee, often $100 to $400, though some communities charge more. Initial dues are usually prorated through closing and some HOAs require reserve deposits.
Miscellaneous
Budget for smaller items like recording the mortgage, courier, wire, and notary fees, often $25 to $150. Depending on property type and location, there may be coastal disclosure fees or utility connection fees.
Typical total range
As a rule of thumb, South Carolina buyers often pay about 2% to 5% of the purchase price in closing costs, not including the down payment. On the Grand Strand, flood insurance, higher homeowners insurance, HOA fees, or lender escrow requirements can push totals higher. Plan conservatively, especially if you are buying from out of state.
What is negotiable vs fixed
Costs you can negotiate
- Seller concessions toward your closing costs are common, subject to loan program limits (conventional loans often allow 3% to 9% depending on your down payment).
- Lender fees and rates are competitive. Request multiple Loan Estimates and consider lender credits in exchange for a slightly higher rate.
- Some title and settlement service line items can be negotiated with the provider.
- You control which inspections you order. Skipping them reduces costs but adds risk.
Costs that are fixed
- County and state recording fees and taxes are set by the government.
- Loan program fees, such as VA funding fees or FHA mortgage insurance premiums, follow program rules.
- HOA transfer or estoppel fees are set by the association.
- Lender-required escrow deposits are typically not negotiable if an escrow account is required.
Where deals happen in Little River
- Seller credits of about 2% to 3% are often requested in offers, depending on market conditions.
- Who pays for the owner’s title policy varies by local custom and can be negotiated.
- Credits for repairs or appliances can reduce your out-of-pocket cash at closing.
Estimate your closing costs
Step 1: Gather numbers
Collect the key inputs: purchase price, down payment, loan type, and your best rate estimate. Add expected annual property taxes, homeowners insurance, and monthly HOA dues if applicable. Note any known fees like appraisal, inspections, title insurance, and whether flood insurance is required.
Step 2: Plug into a calculator
Use typical ranges to build your estimate or enter them into Larisa’s mortgage calculator:
- Lender fees: 0.5% to 1.0% of the loan
- Appraisal: $400 to $800
- Inspections: $300 to $800 plus specialty items as needed
- Title and closing fees: $600 to $1,500
- Owner’s title policy: varies by price
- Recording and transfer fees: $50 to $300
- Prepaid insurance: first-year homeowners insurance and, if required, flood insurance
- Escrow cushion: 2 to 6 months of taxes and insurance
- HOA transfer: $100 to $500 if applicable
- Miscellaneous: $50 to $200
Step 3: Example scenarios
- Example A: $300,000 purchase, 20% down, no PMI
- Estimated closing costs: about 2.5% or $7,500.
- Biggest drivers: title and recording (
$900), appraisal ($500), inspections ($500), and prepaids/escrow ($4,000 for first-year insurance plus about 3 months of taxes and escrow).
- Example B: $500,000 purchase, 5% down, flood zone
- Estimated closing costs: about 3.5% to 4.5% or $17,500 to $22,500, driven by mortgage program costs, insurance, and escrow requirements.
- Example C: $350,000 condo in an HOA
- Closing costs often land near 2.5% to 3.5%, with HOA transfer fees and association updates included. Insurance may be lower if a master policy covers the structure.
Step 4: Confirm with lender docs
After you apply, your lender issues a Loan Estimate within three business days. Use it to tighten your budget numbers. Three business days before closing, you will receive a Closing Disclosure that shows the final figures. Compare the two and ask your lender or closing agent to explain any changes.
Little River factors to watch
Flood risk and insurance
Coastal properties have a higher chance of being in a FEMA flood zone. If your lender requires flood insurance, premiums can be significant and the first year is often paid at closing. A flood certification fee is also common.
Insurance premiums and wind
Windstorm and hurricane deductibles are common along the Grand Strand, which can raise premiums. Confirm what is required for your location and build a conservative estimate for your first-year premium.
HOA and condo considerations
Many properties in and near Little River are in HOAs or condominium communities. Budget for estoppel or transfer fees, prorated dues, and any required reserves. Ask early so there are no surprises at closing.
Closing practice and recording
South Carolina closings may involve attorneys or title companies, depending on local custom. Local settlement providers in Horry County will give you accurate fee schedules and guidance on the Register of Deeds recording requirements.
Remote closing logistics
If you cannot attend in person, plan for remote notarization, power of attorney, or courier arrangements. Title companies may charge for secure wire services. Always verify wiring instructions by phone to avoid fraud.
Smart buyer checklist
- Request fee sheets from local title or settlement companies early.
- Get at least three Loan Estimates and compare total closing cost columns.
- Order inspections promptly and add specialty inspections as needed.
- Check FEMA flood status and get flood insurance quotes early if applicable.
- Ask for the HOA estoppel letter and fee schedule; confirm transfer fees and reserves.
- Budget for escrow deposits of 2 to 6 months for taxes and insurance.
- Consider seller concessions and confirm your loan’s allowable contribution limits.
- Prepare funds for closing and confirm acceptable payment methods and timing.
- Compare your Closing Disclosure to your Loan Estimate and get explanations for any changes.
Final thoughts
Closing costs do not have to be a surprise. When you understand the typical line items and the coastal add-ons that matter in Little River, you can budget with confidence and negotiate where it counts. If you want a personalized estimate for a specific property or help structuring seller credits, connect with a local expert who handles these details every day.
Have questions or want an estimate tailored to your price point and loan type? Reach out to Larisa Esmat to get started.
FAQs
What are typical closing costs for SC buyers in Little River?
- Most buyers pay about 2% to 5% of the purchase price, with coastal insurance, flood coverage, HOA fees, and escrow deposits often pushing totals toward the higher end.
Are South Carolina buyer closing costs negotiable?
- Some are, including seller credits, certain lender fees, and parts of title/settlement fees; government fees, HOA-set charges, and lender-required escrows are typically fixed.
How much will my escrow deposits be in Horry County?
- Lenders commonly collect 2 to 6 months of property taxes and insurance at closing, depending on the month of closing and lender requirements.
Do Little River homes require flood insurance and how does that affect costs?
- If your home is in a FEMA flood zone and you finance, your lender will likely require flood insurance, and the first-year premium is often paid at closing.
What documents show my final closing costs in South Carolina?
- Your Loan Estimate arrives within three business days of applying, and your Closing Disclosure with final figures arrives at least three business days before closing.
Who usually pays for the owner’s title insurance policy in Little River?
- It is negotiable and varies by market custom; confirm with your agent and the local title company when you write your offer.
Are HOA transfer or estoppel fees common on the Grand Strand?
- Yes, many HOAs and condo associations charge a transfer or estoppel fee, typically $100 to $400, with dues prorated through closing.
