Michael Crist

SCR will post the new seller disclosure to the SCR forms library ASAP. EFFECTIVE 1/1/19: REVISED South Carolina Residential Property Condition Disclosure Statement South Carolina Residential Property Condition Disclosure Statement (Effective 1/1/19) (Revised 11/18) (pdf) Due to a 2018 legislative amendment to the South Carolina Residential Property Disclosure Act, amendments to the South Carolina Residential… Continue Reading New Seller Disclosure (Historic District ?) (HOA ?)

A few questions came in as the 11/15/18 SCR314/SCR312 webinar was wrapping up so here are the answers: Does SCR314 apply to commercial deals? Yes. Commercial brokers send SCR314 offer rejection for to buyers when the seller rejects the commercial buyer's offer without a counter offer or acceptance of offer. What is the counter offer… Continue Reading Follow Up Answers to 314/312 Webinar (Offer Rejection Form & Multiple Offer Form)

NAR reports a win against patent trolls after a decade of legal fighting. Patent trolls are generally defined as a person/organization that asserts a patent on a common generic procedure or idea then uses threats of patent litigation as leverage to extract monetary settlements from businesses who use the common/generic procedure or idea. Brokerages sometimes… Continue Reading Slaying Patent Trolls

The SC Vacation Rental Act was passed in 2002 and is designed to protect SC's tourism industry's reputation after some incidents where vacationing families traveled great distances to visit SC only to find their rental had been sold and they had no vacation place to stay/sleep so their vacation was ruined. Buyers who want to… Continue Reading Vacation Rental Act

Buyers are solely responsible to investigate all issues about their insurance needs pre-contract or at a minimum during their due diligence period so the buyer does not become obligated to buy a property when their insurance costs are on the high end of their budget or expensive repairs are required (e.g. old roof, +20, old… Continue Reading Insurance: Buyers Need to Investigate Pre-Contract or At Least During Due Diligence

Buyers should never solely rely upon the seller disclosure and advertising materials regarding the property that the buyers are considering buying. Buyers should hire qualified expert inspectors for all issues that matter to the buyers. Often there is great uncertainty about how offsite properties and offsite conditions might change in the future. Buyers must understand… Continue Reading SCR310 Inspections: Buyers can Perform Off Site Conditions