Big Changes to The Greenville Real Estate Contract Are Upon Us

Greenville’s most used purchase agreement is about to feel very different. In a recent Selling Greenville episode, a Greenville-based Realtor broke down the coming overhaul to South Carolina’s primary residential contract (Form 310) and what it will mean for buyers, sellers, and agents across the Upstate. The short version: two long-standing inspection paths are being deleted, a single path remains, and a small new number on page one could carry outsized weight in multiple-offer showdowns.

Before this shift lands in mid-June, here’s the clear, Greenville-specific explainer—pulled straight from the podcast—not legal advice, not theory, just what’s changing and how it’s likely to play on the ground.

What Big Changes to The Greenville Real Estate Contract Actually Mean

Big Changes to The Greenville Real Estate Contract: For years, Form 310 offered three checkboxes that governed inspections and repairs:

1. Repair Procedure (the default in “normal” owner-occupied sales)

2. As-Is

3. Due Diligence

Only one survives. Repair Procedure and As-Is are being deleted, leaving Due Diligence as the contract’s single inspection framework.

Why this matters: Nearly every “typical” Greenville sale has leaned on the repair procedure. Buyers inspected and flagged major problems within nine defined categories (think HVAC, electrical, plumbing, roofing leaks, etc.), and sellers were obligated to address those “major systems”—not cosmetic items, not fogged windows, not appliances. In theory, it split the baby: buyers got protection against big-ticket defects; sellers avoided nitpicky punch lists.

In practice, it created murky, subjective fights—What counted as “major”? Was the request written the “right” way on a very open-ended repair addendum? Did the seller’s fix satisfy the contract? Cue disputes, delayed closings, and escrow drama over earnest money. After a long run of hotline calls and headaches, the association opted to remove the ambiguity entirely rather than keep polishing around it.

So, what’s left?

Due diligence—full stop. Under Due Diligence:

• Buyers can terminate for any reason within the period and not be in default.

• By default, sellers are not obligated to make repairs. Buyers can ask; sellers can say yes, no, or let credits do the talking.

• The familiar, separate termite & moisture contingency still stands on its own (unchanged).

The twist—and the new center of gravity for negotiations—is the termination fee.

The termination fee: the small line with big leverage

Under the new setup, offers include both earnest money and a termination fee number. If a buyer chooses to walk during Due Diligence, the buyer owes the termination fee to the seller, in addition to whatever the contract already says about earnest money.

A few street-level realities from the episode:

• Realtors should not hold the termination fee. If a buyer terminates, they’ll have to deliver the fee (typically a check payable to the seller) with their notice—often at a neutral location like the closing attorney’s office. Documenting delivery (even with a timestamped photo) was encouraged in training.

• Leaving that line blank defaults to $0, but in a seller’s market, free “first looks” won’t win many bidding wars.

• Expect the market to start messy and then standardize. Early on, some offers will come in with $0 or $100. Those buyers will lose to buyers who put more “skin in the game.” Over time, a local norm will likely emerge (the podcast floated common figures like $100, $500, or $1,000, depending on the home and competition).

Translation for multiple-offer scenarios: if two offers look similar but one posts a $2,000 termination fee while the other posts $500, the higher-fee offer instantly appears more committed. Sellers will weigh that number as heavily as price, close date, and earnest money—because it’s the one line that compensates them for lost time if the buyer bails mid-process.

No more default repairs—here’s how that changes the dance

With Repair Procedure gone, the contract no longer obligates sellers to fix defined categories by default. That doesn’t mean buyers can’t get repairs done; it means every repair is now a negotiation, not an entitlement.

Two implications the show called out:

• Leverage rules all. In a hot segment (well-maintained, “normal” homes), sellers can simply decline repair requests and dare the buyer to walk—and forfeit the termination fee. In softer situations (vacant properties, sellers on a tight clock), buyers gain leverage to trade repairs, credits, or price.

• Requests can be more surgical. Under the Repair Procedure, buyers often asked for everything “major” and then argued over what qualified. Under Due Diligence, buyers can decide to ignore a major item they prefer to handle themselves (say, a straightforward structural fix) but press on with items they want the seller to address (sticking windows, fogged panes, etc.). The key is whether the seller agrees.

Who benefits—buyers or sellers?

The answer from the classroom—and echoed in the podcast—was “it depends on the market.”

• In a seller’s market, the Greenville real estate contract changes tilt seller-friendly. Why? Because termination fees deter frivolous terminations, and sellers can refuse repair lists without violating some pre-set obligation.

• In a buyer’s market, the same framework could tilt buyer-friendly, especially if termination fees sink back to minimal numbers and sellers become more flexible on repairs to keep deals alive.

Either way, everyone loses the old subjectivity and gains clearer expectations: buyers can terminate, but it costs what they agreed to pay; sellers don’t have to fix things, but they can strike a deal if it gets them to closing.

First-time buyers: the new squeeze

The podcast didn’t sugarcoat this: first-time buyers may feel more pressure under the new form. When cash on hand is limited, even a $500 termination fee can feel like a big chunk to risk while you’re paying for inspections, appraisals, and moving costs. That reality won’t keep entry-level buyers out of the market, but it could influence:

• Offer strategy (balancing fee size against overall risk)

• Home selection (being extra choosy about condition before offering)

• Inspection pacing (moving fast enough inside Due Diligence to avoid decision-by-deadline)

In short: the fee nudges buyers to be sharper on the front end—eyes wider during showings, expectations clearer about what they’ll accept, and timelines tighter once under contract.

How agents will navigate the early chaos

Expect a messy summer. Any time a market tool changes, practice lags policy. The podcast previewed a few on-the-ground adjustments:

• More front-loaded negotiation. You’ll likely see offers differentiated by termination fee, earnest money, and Due Diligence length—right alongside price and closing date.

• Listing instructions may evolve. Some sellers will try setting minimums (e.g., “$1,000 termination fee required”). The show’s take: be cautious. Mandated minimums often become de facto maximums and remove helpful signals about a buyer’s true confidence.

• Offer reading becomes more nuanced. A low termination fee might say a buyer (or their agent) doesn’t understand the new landscape—or is signaling uncertainty. Conversely, a higher fee can telegraph confidence in the home’s condition and the buyer’s resolve to close.

And yes, there will be growing pains around delivery logistics for termination fees and documenting that delivery. That’s a process problem, not a market problem, and it will get solved by routine.

What’s unchanged (and easy to forget)

Two anchor points remain steady:

• Termite & moisture inspections/clearance still live in their own contingency, separate from Due Diligence.

• Earnest money still isn’t automatically awarded to anyone; if a dispute arises, the parties must agree on disbursement or let a court decide. (Practically speaking, a termination within Due Diligence—properly noticed—generally favors returning earnest money to the buyer; that’s why sellers will care about the termination fee.)

Practical playbooks (from the episode’s lens)

For buyers

• Right-size your termination fee. In competitive situations, expect to put real money on that line. Don’t overextend—balance confidence in the home with your cash comfort.

• Be thorough before you offer. Look harder at showings. The more you catch up front, the less guesswork (and stress) inside Due Diligence.

• Negotiate with intent. Ask for what truly matters to your exit or livability; be ready to trade credits for control over workmanship and timeline.

For sellers

• Weigh the fee as a commitment. Higher termination fees are a signal. In close calls, they can tip the scale.

• Decide your repair posture early. If your timeline is tight, consider where a small concession or credit keeps momentum. If you have runway and strong demand, be ready to say no.

• Resist one-size-fits-all rules on your listing. Let buyers show their hand. Minimums can backfire.

Why Greenville chose clarity over a “perfect” list

The retiring repair procedure tried to codify fairness with nine big-system buckets. Experience proved what many agents already knew: houses are too complex for a universal list, and generic addenda are too open-ended to police expectations. The new model trades category fights for plain negotiation, with a price tag for walking away. For a market that thrives on speed and clarity, that trade may be worth it.

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Bottom Line

The Greenville real estate contract changes retire the Repair Procedure and As-Is paths and make Due Diligence the one road everyone travels. The real pivot point is the termination fee: it prices the right to walk and reshapes how multiple offers are judged. In hot segments, sellers gain leverage to decline repair lists; in softer ones, buyers gain room to negotiate outcomes that fit their plans. First-time buyers will need sharper front-end diligence; seasoned buyers will exploit the new levers to stand out. Expect a learning curve, then a local norm. What you’ll lose in list-checking, you’ll gain in clarity—and in Greenville, clarity tends to close.

Ien Araneta

Journal & Podcast Editor | Selling Greenville