The "Homeowner Contract Transparency and Fair Dispute Resolution Act" aims to enhance transparency and fairness in residential real estate transactions in South Carolina. The bill mandates that sellers provide buyers with all home purchase documents, including any dispute resolution provisions and legal waivers, at least ten calendar days before closing or at the time of executing the purchase agreement. It establishes that any dispute resolution provision that conflicts with existing laws is unenforceable and requires that such provisions be clearly outlined in a separate document that the buyer must sign or initial. Additionally, if any legal waivers are presented at closing, they are presumed void unless the seller can demonstrate that the buyer had a meaningful opportunity to review them.

The legislation also imposes an affirmative duty on attorneys conducting closings to ensure compliance with these requirements, with potential disciplinary actions for noncompliance. Buyers are granted the right to bring actions in circuit court to enforce the provisions of the act, which allows for the declaration of noncompliant provisions as void, as well as the awarding of damages and attorney's fees. Overall, the act seeks to protect buyers by ensuring they are fully informed of their rights and obligations before finalizing a real estate transaction.