Closing Costs For Murrells Inlet Homebuyers

Buying a home in Murrells Inlet is exciting, but the final number you need to close can feel like a moving target. You want clarity, not surprises, especially when coastal factors like flood insurance or HOA fees may apply. In this guide, you will learn what closing costs are, how much buyers typically pay, which line items matter most, and where local details in Georgetown County can shift your total. You will also see simple steps to plan your budget with confidence. Let’s dive in.

What closing costs cover

Closing costs are the fees, third-party charges, and prepaid items you pay to complete your purchase beyond the price of the home. These include lender fees, appraisal, title and settlement services, inspections, government recording fees, insurance, and escrow deposits.

For a financed purchase, you can expect roughly 2% to 5% of the purchase price in buyer closing costs. On a $400,000 home, that is about $8,000 to $20,000. Cash buyers usually pay less because there are no lender fees, but you will still see title, recording, and certain prepaids.

Your exact total depends on your loan type, lender pricing, the property’s price and location, county-level recording charges, whether the property is in an HOA or flood zone, and any concessions negotiated with the seller.

Typical buyer totals in Murrells Inlet

Coastal properties can add specialized inspections, higher homeowners insurance, and flood insurance if the home is in a designated flood zone. That means two similar homes can produce different closing cost totals.

• Example A, $300,000 financed purchase: a reasonable estimate is about $6,000 to $13,000. That includes loan-related fees, title and settlement, inspections, prepaids and reserves, and county recording fees.
• Example B, $800,000 waterfront property: appraisal and specialized inspections are higher, title premiums scale with price, and flood insurance can add materially to your annual carrying costs. Closing costs can reach $16,000 or more, with ongoing insurance expenses that are higher than inland homes.

These examples are illustrative. Always confirm your numbers with your lender and your closing agent.

Line-item breakdown

Loan-related fees

If you are financing, expect several lender-driven items:

• Origination, underwriting, and processing: often 0% to 1% of the loan amount, depending on the lender and program.
• Credit report and application: commonly $25 to $75 for credit and $100 to $500 for application or processing.
• Appraisal: typically $300 to $700. Larger, custom, or waterfront homes can be higher.
• Mortgage insurance or PMI: applies when down payment or loan type requires it. This can be upfront, monthly, or both.
• Discount points: optional fees to reduce your interest rate. One point equals 1% of the loan amount.

Title and settlement services

Title services protect your ownership and satisfy lender requirements:

• Title search and title insurance: usually includes a lender’s policy and an optional owner’s policy that is recommended. Premiums scale with purchase price.
• Settlement or escrow fee: charged by the title company or closing attorney, often $300 to $1,000 or more depending on services.
• Survey: $300 to $1,000 based on the size and complexity of the property. Some lenders or closing agents may require one.

Inspections and reports

Protect your investment and understand the home’s condition:

• General home inspection: commonly $300 to $600 for a typical single-family home.
• Specialized inspections: termite, septic, well, mold, roof, wind or hurricane assessments can each range from $100 to $800. Coastal homes may warrant additional structural or corrosion-related checks.

Prepaid items and escrow

These are upfront funds to start your ongoing housing expenses:

• Property taxes: prorated at closing, which means you reimburse the seller for any prepaid portion that covers time after your closing date.
• Homeowners insurance: lenders often collect the first year’s premium at closing or the first month plus an escrow deposit.
• Escrow reserves: lenders commonly collect about two months of taxes and insurance as a cushion, consistent with federal rules.
• HOA dues: any prorated dues, transfer fees, or one-time capital contributions set by the association.

Taxes and recording

Government-required charges vary by county:

• Deed and mortgage recording fees: set by Georgetown County and based on the documents recorded.
• Transfer or recording taxes: practices vary by state and locality. Confirm what applies to your purchase type.

Other small fees

• Bank wire fees for sending closing funds, notary fees, courier or document prep fees, and similar administrative charges.

Local factors that shift costs

Flood zones and insurance

Murrells Inlet is a coastal community, and some homes lie within FEMA Special Flood Hazard Areas. If your lender determines the property is in a flood zone, you will be required to carry flood insurance. Premiums depend on elevation, the specific zone, building details, and any prior claims. Ask for the property’s elevation information if available, and talk with your lender and insurance provider early so you can plan your escrow and annual costs.

HOA and community fees

Many neighborhoods near the coast, including golf and amenity-driven communities, have HOAs. Expect potential transfer fees, capital contributions, or resale disclosure packet charges. These vary widely and can range from a few hundred to several thousand dollars. Request the HOA fee schedule and any resale documents as soon as you go under contract.

Who handles closing

Settlement in South Carolina can be handled by a title company or a closing attorney, depending on local practice and contract terms. Ask your agent who will conduct your closing in Georgetown County, then request a sample settlement statement to understand your specific fees.

County-level fees and taxes

Recording fees, document requirements, and property tax schedules are set by Georgetown County. Your closing agent will follow the county’s fee schedule, and your tax prorations will reflect the local billing cycle and the exact day you close.

Coastal insurance details

Homeowners insurance near the coast often includes separate wind or hurricane deductibles. Premiums and deductibles are tied to the property’s location and characteristics, which is why quotes can differ between similar homes. Secure quotes early, especially if you are comparing homes at different elevations or nearer the water.

When costs are disclosed

Loan Estimate

Your lender must provide a Loan Estimate within three business days of a completed application. This document outlines your projected closing costs, loan terms, and monthly payment. Use it to compare lenders on the same loan type and rate structure.

Closing Disclosure

Your lender must deliver a Closing Disclosure at least three business days before closing. Review it line by line and compare it to your Loan Estimate. Ask your lender and closing agent to explain any differences or last-minute adjustments.

Escrow rules

Under federal servicing rules, lenders may collect an initial escrow cushion, commonly up to two months of taxes and insurance. Each year, you should receive an escrow analysis that shows how your account is balanced.

Prorations at closing

Recurring items like property taxes and HOA dues are typically prorated between buyer and seller based on the closing date. Your Closing Disclosure will show these prorations so you can see exactly what is being credited or charged.

How to estimate and budget

Use this step-by-step plan to estimate with confidence before you submit an offer:

1. Ask for a lender’s Loan Estimate for your chosen loan type and price point. Compare at least two lenders.
2. Request a title quote and a sample settlement statement from the local closing agent named in your contract.
3. Get written HOA fee details, including any transfer or capital contribution fees.
4. Secure homeowners insurance quotes, and confirm whether wind or hurricane deductibles apply.
5. Verify flood zone status and ask your insurance provider for a flood quote if the property is in or near a mapped flood zone.
6. Ask the closing agent to confirm Georgetown County recording fees for your deed and mortgage.
7. Add prepaids and reserves: first year of insurance, two months of escrow cushion, and prorated taxes.
8. Build a 10% buffer on your closing cost estimate to handle small changes in prepaid items or inspection choices.

Ways to save on closing costs

• Shop your mortgage. Compare Loan Estimates on the same day, same loan type, with or without points, so you can see true differences.
• Negotiate seller concessions. Many buyers ask the seller to cover part of their closing costs. The amount is negotiable and subject to loan program limits.
• Evaluate discount points carefully. Paying points reduces your rate but raises your upfront cost. Ask your lender for a breakeven timeline.
• Compare inspection and title service quotes. Some fees vary by provider. Do not skip essential inspections, but do compare apples to apples.
• Ask about assistance programs. Check for South Carolina or local programs that offer down payment or closing cost help if you qualify.

Who pays what in Georgetown County

Local custom can vary by transaction, but buyers usually cover lender fees, appraisal, inspections, and the lender’s title insurance. Sellers commonly pay real estate commissions and may agree to concessions toward your closing costs. Some sellers also pay for the owner’s title insurance policy, but this is negotiable. Your contract will spell out the specifics for your deal.

Your closing day checklist

Use this list to stay organized from contract to keys:

• Loan Estimate from your lender within three business days of application
• Complete home inspection and any specialized inspections
• Appraisal ordered by your lender
• HOA resale documents and fee schedule, if applicable
• Proof of homeowners insurance and flood insurance if required
• Closing Disclosure delivered at least three business days before closing
• Final funds to close, sent by wire or cashier’s check per your closing agent’s instructions
• Government-issued ID and any documents your closing agent requests

Final thoughts

Closing costs in Murrells Inlet are manageable when you know what to expect and which local factors can shift the total. Focus on the big drivers, confirm HOA and insurance details early, and use your Loan Estimate and Closing Disclosure to keep everything aligned. If you want a steady hand to guide you through each step, from budgeting to negotiation to a smooth signing, you are not alone.

For tailored guidance on your Murrells Inlet purchase, connect with Angela Bohnaker.

FAQs

What are typical buyer closing costs in Murrells Inlet?

• For financed purchases, a common range is about 2% to 5% of the purchase price, with totals influenced by loan terms, insurance, HOA fees, and county recording charges.

How do flood zones affect closing costs in Murrells Inlet?

• If your lender determines the home is in a FEMA-designated flood zone, flood insurance is required, which increases your annual costs and may be escrowed at closing.

When will I see my exact closing costs before signing?

• Your lender must provide a Closing Disclosure at least three business days before closing. Review it against your Loan Estimate and ask questions immediately.

Can a seller pay some of my closing costs in Georgetown County?

• Yes. Seller concessions are negotiable and often expressed as a dollar amount or percentage, subject to loan program limits.

Are HOA transfer fees common for Murrells Inlet homes?

• Many communities have HOAs, and you may see transfer fees or capital contributions. Request the HOA’s fee schedule early so you can plan your budget.

Who conducts real estate closings in South Carolina?

• Closings may be handled by a title company or a closing attorney based on local practice and contract terms. Ask your agent who will conduct your specific closing.