EMD Funding in Columbia, SC | Swift Deal Funding
EMD Funding in Columbia, SC
EMD funding covers the earnest money deposit on a Columbia purchase contract — typically $5,000–$25,000 — so you can lock up a property without committing your own cash. We wire the deposit directly to the South Carolina closing attorney handling the deal, usually within 24 hours of a complete file. The deposit must be refundable under the contract’s inspection or due-diligence terms.
Columbia is a steady, affordable market (median ~$250K) anchored by state government, USC student rentals, and Fort Jackson. The play here is often volume — tying up several lower-priced deals at once — so keeping working capital free matters. One local due-diligence note: the 2015 historic flood along the Congaree, Saluda, and Broad rivers is a reminder to check flood history on a given property. EMD funding lets you go under contract fast while you complete that review and place an end buyer.
How EMD funding works in Columbia (SC attorney-must-close)
South Carolina is a wet-funding state, and the SC Supreme Court requires closings — and the earnest money held against them — to be handled under a licensed SC attorney’s supervision. The refundable deposit sits in that attorney’s trust account. We wire within ~24 hours of complete docs and the attorney’s written confirmation that the deposit is refundable per the contract. Given Columbia’s flood history, make sure your contract keeps the EMD refundable while you review flood and disclosure items, and confirm details with your attorney.
Pricing
Two options on every EMD, no credit check required:
| Option | Upfront | At Close | Best For |
|---|---|---|---|
| A | 5% of EMD (min $500) | 20% of EMD | High close-through rates |
| B | 10% of EMD (min $1,000) | 0% | Predictable per-deal cost (most popular) |
Example: a $7,500 Columbia EMD under Option B costs $1,000 total (the $1,000 minimum applies), paid once, nothing due at closing.
What you’ll need
- Fully executed purchase contract with refundable EMD language
- The SC closing attorney’s contact information
- Written confirmation from that attorney that the EMD is refundable per the contract
- Your identification
No credit check, no income verification, no tax returns.
A typical Columbia EMD scenario
You’re tying up a student rental near USC, and the seller wants a $7,500 earnest money deposit. The property is a couple of blocks from a creek, so you still want to review flood history before you’re fully committed. Rather than park your own $7,500 during diligence, you have us fund the refundable EMD to the SC closing attorney’s trust account within 24 hours, with your contract preserving a refundable path while you check the flood records and disclosures. Under Option B, your cost is $1,000 (the minimum), and your capital stays free for the next deal.
Apply
Submit your contract and the attorney’s contact online — under 10 minutes. Same-day wires are possible for complete files before 11 AM Eastern.
Frequently Asked Questions
Who holds earnest money in a South Carolina deal — does an attorney have to be involved? +
The SC Supreme Court requires attorney-supervised closings, so the refundable earnest money is generally held in the licensed SC closing attorney's trust account. We wire the deposit directly to that Columbia attorney once we have written confirmation it's refundable under the contract. Funding moves within 24 hours of a complete file, which helps when you're chasing several affordable deals at once around USC or Fort Jackson.
Should I check flood history on a Columbia property before funding the EMD? +
It's smart due diligence. Columbia saw a historic 1,000-year flood in 2015 along the Congaree, Saluda, and Broad rivers, and some areas carry flood considerations. We fund only refundable earnest money, so make sure your contract's inspection or due-diligence terms keep the EMD refundable while you review flood history and disclosures. Your SC closing attorney must confirm refundability in writing before we wire.
How fast can earnest money be funded for a Columbia offer? +
Usually within 24 hours of a complete application and the SC closing attorney's confirmation. In an affordable, volume market, that speed lets you tie up multiple deals — student rentals near USC, homes for Fort Jackson families — without spreading your own cash across each. Same-day wires are possible before 11 AM Eastern, and we never check credit, income, or tax returns.
Apply for EMD Funding in Columbia, SC
Submit your application online — same-day decisions for complete files before 2 PM Eastern.