Legal FAQs

Rough Draft Escalation Clause/Escalator Clause LAWYER DRAFTED ESCALATOR/ESCALATION CLAUSES ARE NOT ILLEGAL IN SOUTH CAROLINA. REAL ESTATE LICENSEES WITHOUT A LAW LICENSE SHOULD NEVER CREATE PHRASES OR SENTENCES OR SENTENCE FRAGMENTS IN LEGAL CONTRACTS WITHOUT LAWYER OVERSIGHT. CALL THE HOTLINE 803-772-5206 if you need attorney language. SCR STANDARD FORMS ARE DRAFTED UNDER LAWYER SUPERVISION ALONGSIDE… Continue Reading Escalation/Escalator Clauses are Not Illegal Per Se

SCR encourages BICs and their associated licensees to get their written separation agreements in place before separation occurs and while relationships are on good terms. Manage separation expectations in written legal agreements. Everyone will eventually separate. Agents move brokerages, brokerages merge/dissolve, business gets good, business declines, people retire, people change careers, life happens, people get… Continue Reading BICs and Associated Licensees: Get Written Agreements Now on Future Separation

Stay tuned for more info from SCR ASAP on this great news! https://www.nexsenpruet.com/insights/at-long-last-south-carolina-passes-covid-19-liability-immunity Posted by: Byron King on 4/28/21 (This information is only accurate as of 4/28/21. You must contact SCR for updates and changes to this information after 4/28/21 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

https://schousing.com/home/sc-stay-plus On April 27th, SCR CEO posted a podcast to his Facebook page where he interviews Chris Winston of SC Housing Authority on various issues including rental assistance. SC Housing Authority (and 6-7 large SC counties) will distribute federal rental assistance funds in May. Apply asap. Several large counties will also distribute federal rental assistance… Continue Reading Rental Assistance Money from Feds to SC Housing and Six to Seven Large SC Counties

On April 27th, SCR CEO Nick Kremydas posted his podcast with Christ Winston of SC Housing Authority. https://schousing.com/home/sc-stay https://www.wltx.com/article/news/local/schousing-rental-utility-assistance-scstayplus-may/101-159934a2-4834-436f-b9c1-60ccf5f246d7 https://www.wistv.com/2021/04/27/millions-more-rent-utility-assistance-coming-sc/ https://www.schousing.com/home/COVID-19-Forbearance https://www.justia.com/covid-19/50-state-covid-19-resources/eviction-mortgage-foreclosure-relief-during-covid-19-50-state-resource/ https://www.consumer.sc.gov/consumer-resources/help-homeowners https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/help-for-homeowners/request-forbearance-or-mortgage-relief/ Posted by: Byron King on 4/28/21 (This information is only accurate as of 4/28/21. You must contact SCR for updates and changes to this information after 4/28/21 as laws and regulations… Continue Reading Rental Assistance News (and Mortgage Assistance)

SCR501 Independent Contractor Agreement requires the BIC and associated licensees are licensed. Good to renew annually to ensure everyone is licensed. https://screaltors.org/wp-content/uploads/Forms/501.pdf You can look your license up at LLR website to ensure you have an active real estate license. BICs double check your licensees are active licensees regularly. Licensees check your own license for… Continue Reading Ensure You and Your Colleagues are Licensed

Contact the SCR Hotline attorneys at 803-772-5206 Byron Austin TPitts (Tiara also is the Fair Housing Program Director) There were almost 800 hotlines in March (780+) The top TEN Hotlines in March 2021: The first five are the classic top hotline issues: 1. Forms questions 2. License Law questions 3. State Law questions 4. OTHER… Continue Reading Top TEN Hotlines in March 2021

SCR forms webinar April 19, 2021! SCR Forms Update Webinar Coming Soon Join SCR Director of Legal & Regulatory Affairs, Austin Smallwood, Esq. as he discusses changes to the SCR 518, 504, 505, 500 and 330 in this webinar on April 19th at 1:00 pm. To register: https://screaltors-org.zoom.us/webinar/register/WN_Rx4ZCueLRa6a1z38qCmNhA This webinar will also be live-streamed, recorded… Continue Reading Risk Management: Use Current Forms + Recommend Legal Counsel asap

Magic words to use in all your BPO’s and CMA’s: "This market analysis may not be used for the purposes of obtaining financing in a federally related transaction". THIS IS NOT AN APPRAISAL. I have presented the dollars for this property as PRICE, not VALUE. The SC LLR Appraisers Board has stated that only licensed… Continue Reading BPO CMA – Always Include in Report to Avoid LLR Appraisers Board Issues

Federal Money for rental assistance (e.g., tenants, landlords) available now. 6 large SC counties are administering their federal rental assistance. SC Housing is administering federal rental assistance for the other counties. SCR CEO Nick Kremydas plans to interview the program director at SC Housing on their federal rental assistance program on Friday. http://www.richlandcountysc.gov/ https://www.wistv.com/2021/03/29/richland-co-announces-phone-online-portal-rental-assistance-program/ https://www.wltx.com/article/money/rental-assistance-program-richland-county-south-carolina/101-55c49260-8600-4be9-ae30-205fd4b79a99… Continue Reading Richland County Taking Rental Assistance Applications (April 5)