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SCLast updated: 2026-01
South Carolina Regulations
Comprehensive guide to seller financing laws, usury limits, and disclosure requirements in South Carolina.
Maximum Interest Rate
8.75%
Business exemptions may apply
Usury Laws
Interest rate limits and penalties
Maximum Rate
8.75%
Penalty Type
Forfeiture of interest
Notes
Legal rate is 8.75%. Federal and state chartered lenders may charge higher rates.
Business Exemption
Business loans and loans over $150,000 are exempt.
Seller Financing Requirements
Disclosures, licensing, and restrictions
Required Disclosures
- Residential Property Condition Disclosure Statement
- Lead-based paint disclosure (pre-1978)
Licensing Required
No license required
No license required for seller financing own property.
Consumer Protection
Applicable laws protecting buyers
- South Carolina Unfair Trade Practices Act
Real Estate Specifics
Foreclosure process and property laws
- Mortgage state (judicial foreclosure)
- Upset bid period (30 days for deficiency cases)
- No statutory redemption after sale
Legal Disclaimer
This information about South Carolina regulations is provided for educational purposes only and does not constitute legal or tax advice. Laws change frequently and vary by county and municipality. Always verify current regulations with a licensed South Carolina attorney before entering into any seller financing arrangement.