In no decree of sale or order thereunder shall there be a requirement for a deposit of cash or other guaranty of good faith prior to the conclusion of the bidding at any judicial sale of real estate, and such deposit or guaranty as may be required at the conclusion of the bidding and of any person who thereafter raises the bid within the period mentioned in SECTIONS 15-39-720 and 15-39-730 shall be five per cent of the bid or some lesser percentage thereof.
S.C. Code Ann. § 15-39-740
Deposits by bidders
Applied in 1 court decision — leading case Ex Parte Moore (2001)
Most recently applied in Ex Parte Moore (June 2001)
1962 Code SECTION 10-1772; 1952 Code SECTION 10-1772; 1942 Code SECTION 9078-1; 1932 (37) 1529; 1933 (38) 511; 1934 (38) 1187, 1266, 1346, 1620; 1936 (39) 1294; 1939 (41) 202.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.