Legal FAQs

US Supreme Court case: https://magazine.realtor/sites/realtormag.realtor.org/files/Decision-Quicken.pdf Don't charge junk fees. Justify your fees. MLS rules require unconditional offers of compensation to cooperating participants. Lawyer drafted agreements signed outside of MLS and agreed between brokerages can control compensation. Posted by : Byron King on 10/12/18 (This information is only accurate as of 10/12/18. You must contact SCR… Continue Reading Admin Fees, Be Able to Justify, Put into Signed Document Agreements

https://www.ada.gov/regs2010/smallbusiness/smallbusprimer2010.htm Posted by : Byron King on 10/10/18 (This information is only accurate as of 10/10/18. You must contact SCR for updates and changes to this information after 10/10/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

Dear Teena Transaction Brokerage limited confidentiality does help the brokerage with risk management after a failed listing presentation. Say a brokerage fails to get the listing but during the listing presentation the seller blurts out the seller's motivation to sell (e.g. job transfer, new child, marriage, divorce) and or seller's bottom price (e.g. listed at… Continue Reading Transaction Brokerage and Limited Confidentiality

The SC seller disclosure documents (SC RPCDS) are a great liability shield for sellers and brokerages (e.g. statutory, case law). The seller is in the best position of others in the transaction to have the best knowledge of all the owners association issues. While designed for typical residential transactions, the RPCDS can be used in… Continue Reading SC Seller Disclosure Laws

In addition to disclosing in advertising/MLS, the seller can also disclose in the seller disclosure documents (e.g. rental management company contact info, info on future rentals). Seller disclosure has leasing questions. ARTICLE 2 The South Carolina Vacation Rental Act SECTION 27-50-210. Short title. This article may be cited as the "South Carolina Vacation Rental Act".… Continue Reading SC Vacation Rental Act

SCR contract discusses leased/financed issues in Section 3 (property) and Section 4 (conveyance - clear title without liens) and Section 22 Adjustments (proration/etc): Section 3: Buyer acknowledges opportunity to inquire about owners association issues, common area issues, condominium master deed issues, assigned parking/storage areas, memberships, lease issues and financed equipment prior to signing Contract. Leasing… Continue Reading Leased/Financed solar panels, alarm systems, fuel tanks, tenants, future vacation renters

HVAC issues will become more important for consumers as EPA regulations on refrigerant changes post 2020. https://www.epa.gov/ods-phaseout/purchasing-and-repairing-home-air-conditioners-or-heat-pumps Posted by : Byron King on 10/04/18 (This information is only accurate as of 10/04/18. You must contact SCR for updates and changes to this information after 10/04/18 as laws and regulations may change over time). SCR 803-772-5206… Continue Reading Summer is Coming

Here are some NAR mediation and ombudsman (ethics mediation) training videos. Congratulations to the 2018 SCR mediation school graduates and SCR ombudsman school graduates. Thank you to the instructor, Stephanie Walker! Great job! https://www.youtube.com/user/NAREALTORS/search?query=mediation Posted by : Byron King on 10/03/18 (This information is only accurate as of 10/03/18). You must contact SCR for updates… Continue Reading Mediation and Ethics Mediation (ombudsman)

An easy way for Listing Brokerage and Listing Associated Licensees to remember their duty when the buyer submits a written offer...ALWAYS RESPOND. "Always respond" means one of these three responses: 1. Seller sends a written counteroffer to the buyer side. or 2. Seller sends a written acceptance to the buyer side. or 3. Brokerage sends… Continue Reading Listing Brokerage Must Always Respond to Buyer Offers

https://www.nar.realtor/money-laundering-and-terrorism-financing The crime of money laundering continues to be a growing area of concern in the United States. Therefore, law enforcement agencies and the financial sector devote considerable time and resources to combatting these illegal financial activities. While money laundering is most often associated with banks and other financial institutions, real estate transactions can also… Continue Reading NAR on Money Laundering