NAR released a summary of pending home sales data showing that September’s pending home sales pace was up 0.5 percent last month but fell 1.0 percent from a year ago. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead existing-home sales data… Continue Reading September 2018 Pending Home Sales
SCR310 contract's Section 8 allows all sorts of inspections during the inspection period (e.g. home inspector, elevator inspector, pool inspector, hvac inspector, surveyor, engineer, contractor, roof expert, chimney sweep, electrician, plumber, well expert, septic expert, tree expert, soil expert, air quality inspector, asbestos expert, mold expert, radon expert, sprinkler expert, lawn expert, foundation expert, driveway… Continue Reading Access to Listed Property During Contract
Candy corn, a very old sword, where to charge your electric car, a vanishing island and much more compiled by Anne-Marie Siudzinski, Senior Library Information Specialist. Would wearing blinders aid concentration in an open office? Nope. Remove these items from your desk, pronto. Everything you want to know about candy corn. liz west/flickr/2006 Is your… Continue Reading What We’re Reading–October 22-26
Here is a 1999 NAR article and the case law that illustrates the high risk for an associated licensee or BIC to buy a brokerage listing...or for associated licensee or BIC to sell to a brokerage buyer client....or engage in leasing with similar parties. To proceed, you need lawyer drafted formal agreements for self-dealing that… Continue Reading Self Dealing, Darby v. Furman, High Risk for Brokerages
Now that business is slowing a bit with the changing seasons, it’s a great opportunity to get your YPN members involved in the industry and in your local community. Here are five event ideas you can recreate in your group. 1. Partner with Habitat for Humanity Get your YPN members involved in a great cause… Continue Reading ‘Fall’ for These 5 Seasonal YPN Event Ideas
SCR310 Residential Contract can operate without a financing contingency if the buyer has cash or uses the due diligence addendum. SCR310 Section 7 Financing Contingency requires the buyer to make a good faith effort to get their purchase money loan but does allow the buyer to terminate up to closing if the lender does not… Continue Reading How to Work Without a Financing Contingency
With interest rates rising and house price appreciation slowing down or depreciating in some metro areas, it is worth recalling the conditions that prevailed prior to the housing market’s downturn in 2005 and to compare these with current market conditions. The table below compares key indicators on the housing market, employment, and household credit in… Continue Reading How Do Housing Market Conditions Compare in 2004 and 2018?
https://www.llr.sc.gov/POL/REC/RECPDF/RECNewsletterOct2018.pdf Posted by : Byron King on 10/23/18 (This information is only accurate as of 10/23/18. You must contact SCR for updates and changes to this information after 10/23/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)
Recently, it was discovered that LLR published two versions of their Residential Property Condition Disclosure Statement aka seller disclosure in June of 2017 under the same form designation "6/2017" at the bottom of the form. Here is the current LLR version of this form: https://www.llr.sc.gov/POL/REC/RECPDF/Property%20Condition%20Disclosure%20Statement.pdf The screaltors.org website is updated with his version and zipForms… Continue Reading Check Your Forms Library – SCR230 LLR Seller Disclosure
The REALTORS® Confidence Index (RCI) survey[1] gathers monthly information from REALTORS® about local real estate market conditions, characteristics of buyers and sellers, and issues affecting homeownership and real estate transactions.[2] This report presents key results about market transactions from September 2018. View and download the full report here. Market Conditions and Expectations The REALTORS® Buyer… Continue Reading REALTORS® Confidence Index Survey: September 2018 Highlights