- Allowance
- A budget amount in a construction contract for items not yet selected, such as fixtures or flooring.
- Assessment ratio
- In South Carolina, the percentage of a property’s value that is taxed. Primary residences generally qualify for a lower ratio upon application.
- Certificate of occupancy
- The document issued after final inspections confirming a building may be lived in.
- Change order
- A written change to a construction contract’s scope, cost or schedule.
- Closing Disclosure
- The lender's final summary of loan terms and closing costs, provided before a financed home purchase closes.
- Cove lot
- A waterfront lot on a sheltered inlet rather than the main channel.
- Covenants (CC&Rs)
- Recorded rules governing properties in a community, often enforced by an HOA.
- Deeded access
- A right of access established in a recorded document; its route, scope and limits should be reviewed for the specific parcel.
- Dock permit
- Approval required to build or modify a dock on Lake Wylie, issued under Duke Energy’s shoreline guidelines.
- Due diligence period
- The time after contract when a buyer investigates a property and may withdraw under agreed terms.
- Earnest money
- A deposit made under a purchase contract, subject to that agreement's terms about crediting or returning it.
- Easement
- A right for others to use part of a property, such as for utilities or access.
- Flood zone
- A FEMA designation of flood risk that can affect insurance requirements.
- Frontage
- The length of a property’s boundary along the water or a street.
- Grading
- Shaping land to support construction, access and drainage; a key site-cost question on sloped lots.
- HOA
- Homeowners’ association: the body that manages common areas and enforces covenants.
- Main channel
- The open, deeper body of the lake, typically with more boat traffic than coves.
- Permit history
- The available record of approvals for work on a property. A structure's presence alone does not establish that it was permitted.
- Plat
- A recorded map showing lot boundaries, easements and subdivision layout.
- Property condition disclosure
- A form in which South Carolina sellers generally disclose known property conditions.
- Retaining wall
- A structure built to hold back soil on a slope; inspect its condition, drainage and any required approvals.
- Riprap
- Rock placed along a shoreline or slope to help limit erosion; shoreline work can require approval.
- Setback
- The minimum distance a structure must be from a property line, street or shoreline.
- Shoreline stabilization
- Work such as riprap or walls to control erosion at the water’s edge; typically requires approval.
- Spec home
- A home built before a buyer is under contract, to the builder’s design.
- Stormwater runoff
- Rainwater moving across a property; grading and drainage determine where it flows and whether it affects a house or neighboring land.
- Survey
- A professional measurement of property boundaries and improvements.
- Title search
- A review of recorded ownership and encumbrances, such as liens or easements, before a property transfer.
- Topography
- The shape and slope of the land, which strongly affects design and cost.
- Transferable permit
- An approval that may carry over to a new owner under its own rules; confirm the transfer process with the issuing authority.
- Water-view lot
- A property with a view of water, which does not by itself grant frontage, access or dock rights.
