Page 70 - New Agent Real Estate training book

If you are the seller you will need to cancel your homeowner’s insurance for the property, and
approximately five (5) business days after closing we suggest that you contact your prior loan servicers
to confirm receipt and crediting of your loan payoffs. Most lenders refund balances of loan escrow
accounts after closing, so if you are due a loan escrow account refund then you may typically expect to
receive it within twenty (20) to thirty (30) days after closing.

Differences between Horry and Georgetown County

In Horry County recording of a deed is finalized not at the closing, but when the attorney files the
paperwork at the courthouse. You cannot turn over keys of a property until deed is recorded at the
courthouse. Ask if attorney will be able to record deed on same day, if morning closing. If closing on
Friday, any delay could mean that you will not be able to record until Monday, and possible not be able
to take possession of the property (Something to consider if relocating from out of town). For out of
town buyers, you should close by mail mid-week to be safe.

In Georgetown County sometimes transactions are finalized at the closing table, and there is no need to
wait on recording at the court house. Keys can be handed over at closing. Verify with the attorney’s
office prior to the day of closing.