A motion was made, seconded and approved: The Committee authorizes SCR legal staff to delete the forms listed here due to lack of downloads and use: ● Form 120 Broker to Broker Compensation Agreement ● Form 320 Assumption of Mortgage ● Form 335 New Construction Contract ● Form 413 Bedbug Addendum ● Form 420 Inspection… Continue Reading 3/19/26 EC Prunes Seldom Used Forms
Unmarried co-owners buyers may have legal disputes over their arrangement in the future for a variety of reasons (e.g., romantic changes, non-romantic job/life changes, death/incapacity, moves, diverging future goals/plans, money issues). Consider recommending these types of parties immediately hire a SC lawyer to draft a co-ownership, partnership agreement, or if owned as an entity, similar… Continue Reading Unmarried Co-Owners, Recommend Legal Agreements Upfront
FinCEN is on Court Hold Again The FinCEN Residential Real Estate Anti-Money Laundering (AML) Rule has been put on court hold again due to ongoing legal challenges regarding the costs, efforts, and privacy issues affecting the private sector. On March 19, 2026, a federal district court in Texas vacated the rule, finding that the Financial… Continue Reading FInCEN on Hold, Again
https://www.postandcourier.com/business/real_estate/johns-island-homes-eastwood-lawsuit-contract/article_e6a9e363-5dd1-48d6-810d-676a4c98b4ec.html Posted by: Byron King on 3/24/26 (This information is only accurate as of 3/24/26. You must contact SCR for updates and changes to this information after 3/24/26, as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading SC Courts: Builder
Here are some videos on the 3/9/26 SCR forms updates that might be helpful. Here are the two broadcast town halls on the forms updates: https://www.youtube.com/watch?v=izjfKltWHkI https://www.youtube.com/watch?v=wgpzOK7sRMI Here are the three SCR forms Walkthrough videos broadcast as of today: SCR120 Compensation Agreement [Seller/FSBO to Buyer Broker] https://www.youtube.com/watch?v=AIuJ_Fkhyog SCR220 Exclusive Right to Sell Listing Agency Agreement… Continue Reading SCR Forms 3/9/26 Update Videos (Town Halls x2, SCR 120, 130, 220)
SCR120 Compensation Agreement [Seller/FSBO to Buyer Broker] https://www.youtube.com/watch?v=AIuJ_Fkhyog SCR220 Exclusive Right to Sell Listing Agency Agreement [SCR210 Exclusive Agency Listing Agency Agreement is similar but allows the seller to seek buyers alongside the Listing Brokerage.] https://www.youtube.com/watch?v=l5t3hDmIJeo SCR130 Exclusive Right to Buy Buyer Agency Agreement. [SCR135 Exclusive Agency Buyer Agency Agreement is similar, but allows the buyer… Continue Reading SCR Forms Walkthrough (120, 130, 220) March 9, 2026 updates covered.
The South Carolina Real Estate Commission (SCREC) issued a new guidance letter this week addressing how to handle trust funds held by an outside party (like an attorney or escrow agent) rather than the brokerage. Here is a quick overview: The Legal Requirement: Per S.C. Code §40-57-136(H), licensees are legally responsible for ensuring that trust… Continue Reading LLR SCREC Alert: Guidance Letter, Documenting Earnest Money at Lawyer’s Trust Account
SCR130 ERTB BAA Video Walkthrough (exclusive right to buy, buyer agency agreement) https://www.youtube.com/watch?v=5_qknommN7c Compensation agreement: Form 120: https://www.youtube.com/watch?v=AIuJ_Fkhyog Both of these updated on March 9, 2026. Posted by: Byron King on 3/23/26 (This information is only accurate as of 3/23/26. You must contact SCR for updates and changes to this information after 3/23/26, as laws… Continue Reading SCR130 ERTB BAA Video Walkthrough (exclusive right to buy, buyer agency agreement)
AlertConfirmation of Delivery of Trust Funds AlertLimited-Service Brokerage Practices Reminder AlertSame Brokerage, Different BIC Alert2025 Changes to Real Estate Practice Act AlertNo Builder’s Exemption in SC AlertA.I. Use AlertReminder of Advertising Restrictions AlertVideo on Office Inspections & How to Be Prepared AlertFraud Awareness & Prevention Techniques AlertImportant Board Information The Real Estate Commission regulates real… Continue Reading LLR SCREC alerts
https://llr.sc.gov/re/recpdf/Confirmation%20of%20Delivery%20of%20Trust%20Funds.pdf AlertConfirmation of Delivery of Trust Funds AlertLimited-Service Brokerage Practices Reminder AlertSame Brokerage, Different BIC Alert2025 Changes to Real Estate Practice Act AlertNo Builder’s Exemption in SC AlertA.I. Use AlertReminder of Advertising Restrictions AlertVideo on Office Inspections & How to Be Prepared AlertFraud Awareness & Prevention Techniques AlertImportant Board Information The Real Estate Commission regulates… Continue Reading LLR on trust funds, duties licensees under LLR SCREC