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
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 2018 SCR Board of Directors approved allowing complainants to remain anonymous to respondents when the complaint only includes a citation level offense. SCR staff will see the complainants name on the filed written ethics complaint. Citation level offenses are typically less egregious offenses and are listed below. Most of these are related to advertising… Continue Reading Citation Offense = Potential Anonymous Ethics Complainants to Respondents
Article 12 of the NAR Code of Ethics is centered on advertising communications. Advertising can be in many forms, including Facebook. Many portions of Article 12 (advertising) fall under the SCR citation program (aka ethics traffic tickets for less serious ethics violations, notably advertising ethics) whereby the respondent can accept any offered fine and education… Continue Reading Spell Out What You are Offering
"CHAPTER 30 Homeowners Associations Article 1 South Carolina Homeowners Association Act Section 27-30-110. This article may be cited as the 'South Carolina Homeowners Association Act'. Section 27-30-120. As used in this article: (1) 'Board' means the representative body, regardless of name, designated in the governing documents to act on behalf of a homeowners association and… Continue Reading New HOA Laws
https://www.scstatehouse.gov/query.php?search=DOC&searchtext=3886&category=LEGISLATION&session=122&conid=10940687&result_pos=0&keyval=1223886&numrows=10 Posted by : Byron King on 10/19/18 (This information is only accurate as of 10/19/18. You must contact SCR for updates and changes to this information after 10/19/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)
As of October 17, 2018: Both the SCR Executive Committee and Board of Directors approved: 1. The legal hotline will (when practical/appropriate) begin to email a follow up to calls/texts/conversations. CC'd in the email will be the BIC. This is to increase professionalism by harnessing the experience, education, and problem-solving of the BIC. There is… Continue Reading Legal and Ethical News
When a landlord and their law firm want to deny an animal for a disabled potential tenant, here are some issues. These types of animals are not to be considered pets and not to be subject to "no pets" and pet fees and pet rents and pet deposits. NAR White Paper on this issue: https://realtorparty.realtor/state-local-issues/issues/issues/fair-housing-ada-reasonable-accommodations-with-service-animals… Continue Reading When Landlords and their Law Firm Want to Deny Service Animals and Comfort Animals and Emotional Support Animals
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