What Happens After You Go Under Contract in South Carolina

The moment your offer is accepted is exciting, and it should be. But for a lot of buyers — especially first-time buyers — what comes next feels like a blur of deadlines, documents, and phone calls they weren’t fully prepared for. The period between contract acceptance and closing day is where the details of a transaction either come together smoothly or get complicated, and knowing what to expect makes an enormous difference.

Here’s a straightforward walkthrough of what happens in a typical SC real estate transaction after you go under contract.

Day 1 to 3: Earnest Money and Getting Organized

Within a very short window after contract acceptance — typically one to three business days as specified in your contract — your earnest money deposit needs to be delivered to the escrow holder, usually the closing attorney’s office. Missing this deadline can put your contract at risk, so your agent should be alerting you to this immediately.

At the same time, your lender needs to be notified of the accepted contract. They’ll need the property address and contract details to order an appraisal, begin the underwriting process, and issue a formal Loan Estimate. If there was a Termination Fee in your contract, that payment is also due promptly — typically to the seller directly, not held in escrow.

The Due Diligence Period: Your Investigation Window

As discussed in detail in its own post, the due diligence period is your window to inspect the property and verify everything you need to know before you’re fully committed. Schedule your home inspection within the first day or two after contract acceptance — don’t wait. Good inspectors in active markets book out quickly, and your due diligence period clock doesn’t stop.

Use this window to also review HOA documents if the property has an HOA, complete any specialty inspections your inspector recommends, and begin reviewing any seller disclosures carefully. If inspection findings lead to negotiation, those conversations happen during this period.

The Appraisal

If you’re financing the purchase, your lender will order an appraisal — an independent assessment of the property’s value. The appraisal confirms for the lender that the property is worth at least what you agreed to pay for it. If the appraisal comes in below the purchase price, you’ll need to negotiate with the seller, make up the difference in cash, or in some circumstances exit the contract depending on how your appraisal contingency is structured.

Appraisals typically happen within the first two to three weeks after contract acceptance. You generally don’t attend, but you’ll receive the report through your lender.

Underwriting: The Quiet Period That Isn’t Quiet

While you’re waiting on your appraisal and completing inspections, your lender is processing your mortgage application through underwriting. This is the period when the lender’s team is verifying your income, assets, employment, and the property details. They will likely come back with requests for additional documentation — pay stubs, bank statements, explanations for specific items on your credit report. Respond to these requests quickly. Delays in underwriting documentation are one of the most common reasons closings get pushed.

During this entire period, do not open new credit accounts, make large purchases on existing credit, change jobs, or make significant unexplained deposits into your bank accounts. Any of these can trigger underwriting questions that delay or complicate your approval.

Title Search and Closing Attorney

South Carolina requires that real estate closings be conducted by a licensed attorney. Your closing attorney will conduct a title search to ensure the property’s title is clean — no liens, unresolved ownership disputes, or encumbrances that would prevent clean transfer of ownership to you. If title issues are discovered, they need to be resolved before closing.

Your attorney will also prepare the closing disclosure and all closing documents, coordinate with your lender, and manage the escrow and disbursement of funds on closing day.

Clear to Close and Closing Day

When underwriting is complete and all conditions have been satisfied, your lender issues a “clear to close” — confirmation that the loan is approved and closing can proceed. You’ll receive a Closing Disclosure at least three business days before closing that details all final costs and figures.

On closing day, you’ll sign the loan documents and closing paperwork, funds will be transferred, and the deed will be recorded. Then you get your keys. The whole process from contract to closing typically runs 30 to 45 days in South Carolina, though it can be shorter for cash purchases or longer if complications arise.

Questions about any step of this process? I’m here. Reach me at 864.913.8295 or Ambur.Davis@Century21Blackwell.com.