SCR391 - this addendum is a great addition to every contract! Use SCR391 to shift the burden to provide deed restrictions to the seller. Surveys are a great risk management tool and SCR391 covers survey issues and who orders/pays. Always use SCR391 for beachfront property to get the beachfront disclosures into the contract per state law. … Continue Reading Commonly Forgotten SCR Residential Addendum
Due to federal RESPA laws (max penalties: $10,000 fine and year in federal prison) and state real estate license law, it is risk to pay anything of value in exchange referrals for leads on buyers to property managers or other folks not licensed to receive referrals (e.g. relatives, friends, people asking for money). It is legal for a… Continue Reading WARNING: It is Risk to Pay Referral Fees to PMIC’s (or Unlicensed Folks)
Based on hotline communications, licensees are often very informal and imprecise in their text messaging. Therefore, SCR and the SCR310 discourage the use of text messaging primarily by allowing electronic writing that must be timely and properly delivered and received to the Contract's agreed upon: Notice address [typically brokerage office - can use FEDEX/UPS/Courier or… Continue Reading A warning about using Text Messaging
Make statements about yourself, not your competition. The public will make their own comparisons. This is also a defense against your competitors who watch your advertising close from filing REALTOR® ethics complaints and/or real estate license law complaints. Article 12 Realtors® shall be honest and truthful in their real estate communications and shall present a… Continue Reading Advertising Ethics – Standards of Practice
Closing Delays & Hurricane Matthew - South Carolina REALTORS® Legal Update Q. Is Hurricane Matthew causing delays in real estate closings? As result of Hurricane Matthew, thirteen counties in South Carolina have been pronounced Presidentially-Declared Major Disaster Areas (PDMDA). The counties include: Beaufort, Berkeley, Charleston, Colleton, Darlington, Dillon, Dorchester, Florence, Georgetown, Horry, Jasper, Marion, and Williamsburg… Continue Reading Closing Delays & Hurricane Matthew – South Carolina REALTORS® Legal Update
Sellers should carry appropriate insurance and should discuss any liability and insurance issues with their law firm and insurance broker. Brokers and independent contractors should discuss their own insurance and liability issues with their respective law firms and insurance companies. By agreements (independent contractor agreement, policy manual, brokerage policies, other agreements, etc.), the brokerage might… Continue Reading Safety from Falls and other Showing Accidents