Legal FAQs

NAR compiled what other states/associations are thinking regarding COVID issues. SCR decided against creating COVID standard forms addenda due to potential unintended/intended consequences for allowing a party to create a COVID claimed unilateral unlimited delay in the transaction which is in many other states/associations COVID forms. In SC, the parties can negotiate extensions to their… Continue Reading COVID What Other States/Associations are Thinking

Owners Association Rules...Hot topic that buyers should evaluate. SCR recommends possibly always attaching SCR391 to the SCR310. SCR391 makes sellers and by extension - their legal counsel responsible for providing the hoa docs within a time frame, see first checkbox paragraph on SCR391. SCR310 residential contract, the buyer acknowledges having the opportunity to obtain legal… Continue Reading HOA, POA, COA, Owners Association Evaluations by Buyers

NAR Window to the Law: https://www.youtube.com/watch?v=kS1JpYI_tBo Posted by: Byron King on 1/8/21 (This information is only accurate as of 1/8/21. You must contact SCR for updates and changes to this information after 1/8/21 as laws and regulations may change over time. SCR 803-772-5206 or email info or byron at screaltors.org)

Real Estate Licensees/Brokerages ALWAYS do these things when performing BPO and CMA. Always use the term PRICE. Never use the term VALUE. LLR Appraisal Board makes a large differentiation between these two similar words. According to LLR Appraisers Board: Appraisers use VALUE. Real estate licensees/brokerages use PRICE. One way to remember this is that BPO… Continue Reading The PRICE is RIGHT!

https://www.novoco.com/notes-from-novogradac/congress-approves-25-billion-rental-assistance-who-can-use-it-and-how Posted by: Byron King on 1/5/21 (This information is only accurate as of 1/5/21. You must contact SCR for updates and changes to this information after 1/5/21 as laws and regulations may change over time. SCR 803-772-5206 or email info or byron at screaltors.org)

If you recently got the below alert email from the feds about your website, or you have never registered with the feds for your website.... Please read on! This registration with the feds gives your website a safe harbor. Registration is relatively easy and relatively inexpensive. Once you register a DMCA agent for your website… Continue Reading Got Website? Get DMCA Safe Harbor from Lawsuits!

Ensure you recommend the parties obtain legal counsel asap for all things lease related...documents, check in, inventory, pre-paids, deposits, rents, damages, settlements, insurance information, tenant information, COVID issues, security systems, solar panels, roll carts, gas tanks, property management, future reservations, etc. Here is the Vacation Rental Act: ARTICLE 2 The South Carolina Vacation Rental Act… Continue Reading Vacation Rental Act

Rental Assistance Part of New Relief Measure Congressional leaders struck a deal Sunday on a nearly $900 billion coronavirus relief bill that will bring a new round of support to millions of Americans before year’s end. The agreement contains many priorities championed by NAR, including rental assistance, a fresh round of funding and simplified forgiveness… Continue Reading Property Mangers and Landlords: Breaking NAR News! Rental Assistance

Mediation is settlement, working things out... NAR Mediation Forms: https://www.nar.realtor/code-of-ethics-and-arbitration-manual/forms#mediation https://www.nar.realtor/code-of-ethics-and-arbitration-manual/forms SCR Mediation Info: https://screaltors.org/mediation/ SCR Mediator list: https://screaltors.org/wp-content/uploads/2019/04/MediatorPamphlet2019-2.pdf SCR Free Zoom Mediator list: https://screaltors.org/wp-content/uploads/2020/11/OnlineMediation.pdf Posted by: Byron King on 12/19/20 (This information is only accurate as of 12/19/20. You must contact SCR for updates and changes to this information after 12/19/20 as laws and… Continue Reading Mediation Forms and Information

ATI filing is due on Jan 30, 2021 for all appropriate transactions that closed in 2020. Rollback property taxes go from 5 years to 3 years on 1/1/2021. Parties may consider closing in 2021 if able for this reason. Thanks REALTORS® and staff who have been active in SC governmental affairs. Hotline: 803-772-5206 or email… Continue Reading To Do List 2021: Close Ag Prop (Rollback Tax 5 to 3), File ATI for 2020 Deals