Buyer Glossary for Myrtle Beach

Understanding Real Estate Terms When Buying Your Home in Myrtle Beach, SC

If you're planning to buy a home in the Myrtle Beach or Grand Strand area, one of the first challenges is understanding the terms used during the process. Buyers often hear unfamiliar language before they ever make an offer.

This glossary explains the most common real estate terms you’ll encounter when buying a home in Myrtle Beach, North Myrtle Beach, Surfside Beach, Murrells Inlet, and nearby coastal communities. Each term links to a detailed guide.

Whether you're getting pre-approved or preparing for closing day, knowing these terms helps you avoid surprises and make confident decisions in the local market.

Brian Staub is a real estate agent with Beach Properties Group helping buyers across the Myrtle Beach and Grand Strand area navigate the home buying process from first showing through closing.

Mortgage Approval Terms

  • Mortgage Insurance

  • Pre-Approval

  • Pre-Qualification

  • Principal

  • Underwriting

  • Clear to Close

Offer & Contract Terms

  • Contingency

  • Earnest Money

  • Offer Price

  • Purchase Agreement

  • Seller Concessions

  • Backup Offer

Property Evaluation Terms

  • Comparative Market Analysis (CMA)

  • Home Inspection

  • Inspection Contingency

  • Repair Request

  • Survey

  • Property Disclosure

Ownership & Legal Terms

  • Deed

  • Escrow

  • Title Search

  • Title Insurance

  • Transfer Taxes

  • Recording

Closing Process Terms

  • Closing Disclosure

  • Closing Day

  • Final Walkthrough

  • Settlement Statement

  • Wire Transfer

  • Possession Date

Ongoing Ownership Costs

  • Homeowners Insurance

  • HOA Fees

  • Property Taxes

  • Private Mortgage Insurance (PMI)

  • Maintenance Costs

  • Utilities

Beach Properties Group Keller Williams

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