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    Buy With Us

    Finding and purchasing a piece of real estate, whether it be a primary home, investment property, or vacation getaway, is one of the biggest decisions you will ever make. Anne Hitch and her agents at The Edgewater Group strive to reduce your stress, making your experience most enjoyable and exciting

    The Grand Strand area is vast and the first thing you will need to decide is where you want to be. North end vs. South end? Golf vs. ocean front? Single family home vs. condo? We will be with you every step of the way as you search for that perfect property.

    Buyers

    Prequalification or Proof of Funds is essential when presenting an offer and our list of trusted lenders can assist on most all situations. Once under contract, you will have the option of conducting a home inspection and a CL-100 (termite/moisture inspection).

    We have a list of qualified inspectors who are ready to inspect at any given time. Finally, in South Carolina we use closing attorneys instead of title companies. We will provide you with the names of an assortment of closing attorneys from which to choose and one of their primary jobs will be to conduct the title search and provide the title insurance

    Once your loan is complete, we head to the attorney’s office and sign the closing papers! Once the deed is officially recorded, the property is yours!

    A Few Notes
    BuyersOccupancy

    Most attorneys now will allow Table Funding prior to the actual recording of the deed. If all the paperwork is signed by both buyers and sellers and the buyer’s funds are in the attorney’s escrow account, keys may be given to the buyers and sale proceeds may be given to the seller. Some attorneys do not allow and some party members do not allow so in those instances, keys are not given until the deed is actually recorded. Sometimes that can be later in the day after signing and occasionally the next day.

    BuyersTaxes

    South Carolina has a 7% capital gains tax when you SELL your property if you are not a SC resident. You will be asked before closing to provide that capital gains figure and it will be deducted from your proceeds and paid to the State. You will have federal capital gains consequences as well so it would be wise to seek the advice of your accountant/tax advisor prior to selling.

    In South Carolina, we have different tax rates for primary residents vs. second home/investment properties. One must apply for legal residence status (only one property allowed and it must be your permanent residence), meaning you must provide driver’s license, car registration, and tax returns with that address to be approved. There is a 4% assessment on owner occupied homes vs. a 6% assessment on other properties. The millage rate used in the calculation is also different. We are a “point of sale” state so each time a property transfers it can be reassessed. Normal reassessment is every five years.

    Social Media

    We have a strong social media presence and have some of the very best professionals in the country assisting us.

    The Edgewater Group Real Estate
    Anne Johnson Hitch

    annejhitch

    @annejhitch

    The Edgewater Group

    Buyers

    Example OfProperty Tax

    Little River Primary Residence (Estimate 2022)
    Value: 325,00å0 x .0896 (millage) x 4% = $1164.80

    Little River Second Home/Investment (Estimate 2022)
    Value $325,000 x .2127 (millage) x 6% = $4147.65

    Lastly, a Homestead Exemption for primary residents may be available for ages 65 and over, the blind, the disabled or surviving spouses. It reduces the Assessor’s market value appraisal by $50,000 which gives another deduction in property taxes. It must be applied for one year after residency.

    We are excited to help with your search and new purchase.

    Always feel free to contact us with
    any and all questions!

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