Closing Costs 

  Below is a breakdown of some of the costs associated with purchasing a home in Myrtle Beach. Not all might apply to your situation. It’s best you speak with your loan officer to give you the most accurate amount for closing costs. Typically around 2-5%, based on the loan amount. 

Lender Fees 

• Loan Origination Fee/ Commitment Fee
• Credit Report Fee
• Flood Certification Fee
• Tax Service Fee
• Discount Points
• Prepaid Interest - Depends upon loan amount and length

Attorney Fees 

**South Carolina is an attorney close state. All real estate closings must be handle by an attorney.**

• Attorney Fee ($450-$600)
• Admin Fee
• Recording Fees

Title Fees

• Title Search - Required to ensure clean and proper title
• Lenders Title Insurance - Required with a mortgage. Fee varies upon loan amount
• Owners Title Insurance - Covers the amount between purchase price and mortgage. Varies on coverage amount. *optional 

 HOA Fees

• Certificate of Assessment - Ensures current owner is up to date and there are no special assessments. Sometime paid by seller.
• Transfer Fee or Capital Contribution - Varies by HOA - Sometimes paid by seller
• Prepaid HOA Dues - Typically first 2 months collected at closing

Homeowners Insurance

• Prepaid for 1 year
• Varies depending on home size and location

Property Taxes 

- Buyers receive a *credit* at closing for taxes from time of seller possession since taxes are paid in arrear in Horry County

**This is just a guide to know what to expect. For a more accurate amount please reach out to your lender. Note that you can always ask the seller to contribute towards closing costs. Check out the graph below to determine the maximum amount.