SC

Registry entries (prose)

Sale typeWhat you actually buy. A lien sale gives you a claim on the property and the owner keeps it for now; a deed sale transfers the property itself. A redeemable deed transfers ownership but still gives the former owner time to pay you back. See the full glossary for more terms.

redeemable deed

S.C. Code § 12-51-130; § 12-51-90

Interest / penaltyWhat you earn when the owner redeems. Interest is a rate paid over time; a penalty is usually a one-time percentage of the tax or redemption amount. A rate that is bid down during the auction is still interest. See the full glossary for more terms.

3% of bid (months 1-3), 6% (4-6), 9% (7-9), 12% (10-12)

S.C. Code § 12-51-90(B)

RedemptionHow long the former owner has to repay the debt and keep the property after the sale. Your money stays tied up until this window closes, so a long period can mean a multi-year wait on a lien. See the full glossary for more terms.

12 months

S.C. Code § 12-51-90(A)

Bid methodHow the winner is chosen: bidding the interest rate down, bidding a premium above the amount owed, a random or rotating draw, or simply buying at the minimum bid. See the full glossary for more terms.

public auction; Forfeited Land Commission bids the full delinquent amount

S.C. Code § 12-51-50; § 12-51-55

Sale timingWhen sales are typically held. Many counties publish sale lists only a few weeks ahead, and some sell continuously or on their own schedule. See the full glossary for more terms.

varies by county (advertised date)

S.C. Code § 12-51-50

Source

https://www.scstatehouse.gov/code/t12c051.php

S.C. Code Title 12 Ch. 51 12-51-50, -55, -90.

Counties (46)