https://www.irs.gov/forms-pubs/about-form-8829 Home office deduction benefits eligible small business owners Small business owners may qualify for a home office deduction that will help them save money on their taxes, and benefit their bottom line. Taxpayers can take this deduction if they use a portion of their home exclusively, and on a regular basis, for any of… Continue Reading IRS Information on Home Office
Disclosure issue questions are the biggest risk management question in real estate. A judge or hearing panel is going to look at the total situation's facts, so the answer can vary but a simple answer that can change with certain facts is "disclose known material adverse facts in a reasonable time period and prior to… Continue Reading Disclosure
http://scopportunityzone.com/ https://www.nar.realtor/taxes/background-qualified-opportunity-zones Posted by: Byron King on 05/21/19 (This information is only accurate as of 05/21/19. You must contact SCR for updates and changes to this information after 05/01/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)
https://www.nar.realtor/taxes/background-qualified-opportunity-zones Posted by: Byron King on 05/20/19 (This information is only accurate as of 05/20/19. You must contact SCR for updates and changes to this information after 05/01/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)
Standard of Practice 12-3 The offering of premiums, prizes, merchandise discounts or other inducements to list, sell, purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on listing, selling, purchasing, or leasing through the REALTOR® making the offer. However, REALTORS® must exercise care and candor in any such… Continue Reading Inducements are Ethical if Handled Properly
https://www.nar.realtor/law-and-ethics/cybersecurity-checklist-best-practices-for-real-estate-professionals Cybercrime can be devastating to real estate professionals and their clients. The following checklist offers some best practices to help you curb the risk of cybercrime. Because data protection and cybersecurity laws differ across the country, NAR recommends that you work with an attorney licensed in your state to help you develop cybersecurity-related programs,… Continue Reading Cyber Security NAR Checklist
The license law has long stated this name requirement for decades, but LLR enforcement has been almost zero until recently. This is not a new law. LLR states the accurate name is necessary so when the public is harmed, the licensee can be identified for LLR prosecution. (3) A licensee may not conduct real estate… Continue Reading Use Your License Name in All of Your Real Estate Business
Any consumer that you have substantive contact with: always explain and get this form SCR115 executed: https://screaltors.org/wp-content/uploads/Forms/115.pdf https://www.llr.sc.gov/pol/rec/recpdf/SC_Disclosure_of_Real_Estate_Brokerage_Relationships.pdf (29) "Substantive contact" means contact in which a discussion or dialogue between the consumer and the associated licensee moves from casual introductory talk to a meaningful conversation regarding the selling or buying motives or objectives of the… Continue Reading Always Use the LLR Form (Real Estate Relationships, aka Agency Brochure)
Question #17 on SC's Residential Property Condition Disclosure Statement (aka the seller's disclosure) asks about EASEMENTS such as access easements, conservation easements, utility easements, other easements; and along with questions about party walls, shared private driveways, private roads, mineral rights, encroachments onto the property, and encroachments onto neighboring properties. https://www.llr.sc.gov/POL/REC/RECPDF/Property%20Condition%20Disclosure%20Statement.pdf Properties have easements, especially utility… Continue Reading Question #17 on Seller Disclosure, Always Yes
Unfortunately, a handful of buyers and buyers reps sometimes misbehave in listings. #1 issue, bathroom break then hunt for opioid pain killers. Some thoughts. Always tell buyers to assume surveillance and behave in listings. Never discuss confidential information when surveillance is possible. Cameras and microphones are so small now. Cameras are legally safer than microphones.… Continue Reading Behave in Listings, Surveillance (Cameras/Microphones), Secure Valuables, Secure Listings