Are you being sued? Obtain legal counsel. Apply for SCR legal action support. SC code (license law) 40-57-350: (G)(1) A licensee shall treat all parties honestly and may not knowingly give them false or misleading information about the condition of the property which is known to the licensee. A licensee is not obligated to discover… Continue Reading Risk Management: Seller Disclosure Form = liability shield
SCR legal hotline 803-772-5206. Please remove the discontinued 800 number from your contacts. New SCR fax number 803-620-4730. Emails to SCR lawyers: Legal at SCREALTORS.org (general mailbox) Info at SCREALTORS.org (general mailbox) Byron at SCREALTORS.org (attorney) Austin at SCREALTORS.org (attorney) Nick at SCREATORS.org (CEO and attorney) Posted by: Byron King on 10/02/19 (This information is… Continue Reading Legal Hotline 803-772-5206 DO NOT CALL THE DISCONTINUED 800 NUMBER
Brokers who use lawyers as escrow agents to hold earnest money is a good risk management strategy. Know and trust the law firm so they will around to protect the earnest money. SCR recommends at contract formation, the law firm drafts an escrow agreement stating how the earnest money is held and how the earnest… Continue Reading Earnest money risk management – get lawyers to hold under escrow agreement detailing disbursement in a failed closing
Top issues for the legal update at the SCR Broker Summit. Professionalism - broker involvement - broker leadership "text BIP to 30644" Forms - January 2020 residential sales/agency - November drafts Phones - do not call laws - expired/withdrawn listings Facebook - off MLS marketing - listing agreement - seller's best interests - NAR/MLS Brokers'… Continue Reading Broker Summit October 1, 2019 SC Museum Legal Update: PROFESSIONALISM
In older structures, sometimes asbestos is used as attic insulation, pipe insulation, siding, adhesives under kitchen flooring, popcorn blow ceilings, etc. Preventing the asbestos from becoming airborne is a risk management strategy. Properly removing the asbestos is a risk management strategy. Encapsulating the asbestos is a risk management strategy. Properly warning/educating/disclosing asbestos is a risk… Continue Reading Asbestos Environmental Contamination?
September 11, 2019: SCR Board of Directors approved SCR Standard Forms Committee changes to be inserted into the SCR residential contracts and agency forms. Interesting changes: Due diligence will be incorporated into the SCR310/300 alongside repair procedure and AS IS language so the parties can choose without using the SCR311 due diligence addendum. To simplify… Continue Reading New Forms Coming! 2020! Thanks Forms Committee and Board of Directors!
https://www.postandcourier.com/news/heirs-of-black-homesteader-without-will-overcome-odds-to-sell/article_84717e74-ba12-11e9-934c-ffa39e62b141.html?utm_medium=email&utm_campaign=Daily%20Headlines%20092119&utm_content=Daily%20Headlines%20092119+CID_dc9725887563e82cb7037eeb7e753062&utm_source=CampaignMonitor&utm_term=144%20heirs%20of%20black%20homesteader%20without%20will%20overcome%20odds%20to%20sell%20Mount%20Pleasant%20property The South Carolina Lowcountry is rife with heartbreaking tales of large extended families losing control of inherited land known as heirs’ property, sometimes through trickery or coercion. This is not one of those tales. It begins in February 1875, less than a decade after the end of the Civil War, when Cain Bryan bought… Continue Reading Chas Post Reports a Happy Ending to an Heirs Property Story
https://www.nar.realtor/safety NAR has a wealth of resources to help agents, brokers, and associations better understand and educate each other about the safety risks they face. From planning your safety strategy to extensive safety resources including apps, products, and educators, NAR has many useful items for all real estate professionals including regularly-scheduled safety webinars, numerous articles… Continue Reading September is Safety Month
https://www.nar.realtor/code-of-ethics-and-arbitration-manual/case-interpretations-related-to-article-1 Case #1-3: Net Listing (Originally Case #7-3. Revised May, 1988. Transferred to Article 1 November, 1994.) Client A called REALTOR® B to list a small commercial property, explaining that he wanted to net at least $170,000 from its sale. He inquired about the brokerage commission and other selling costs. REALTOR® B’s response was: “You… Continue Reading Ethics Case 1-3, You Decide: If Unprofessional Ethics Violation or No Ethics Violation
https://www.nar.realtor/window-to-the-law Posted by: Byron King on 09/05/19 (This information is only accurate as of 09/05/19. You must contact SCR for updates and changes to this information after 09/05/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)