Legal FAQs

SCR will post the new seller disclosure to the SCR forms library ASAP. EFFECTIVE 1/1/19: REVISED South Carolina Residential Property Condition Disclosure Statement South Carolina Residential Property Condition Disclosure Statement (Effective 1/1/19) (Revised 11/18) (pdf) Due to a 2018 legislative amendment to the South Carolina Residential Property Disclosure Act, amendments to the South Carolina Residential… Continue Reading New Seller Disclosure (Historic District ?) (HOA?)

A few questions came in as the 11/15/18 SCR314/SCR312 webinar was wrapping up so here are the answers: Does SCR314 apply to commercial deals? Yes. Commercial brokers send SCR314 offer rejection for to buyers when the seller rejects the commercial buyer's offer without a counter offer or acceptance of offer. What is the counter offer… Continue Reading Follow Up Answers to 314/312 Webinar (Offer Rejection Form & Multiple Offer Form)

NAR reports a win against patent trolls after a decade of legal fighting. Patent trolls are generally defined as a person/organization that asserts a patent on a common generic procedure or idea then uses threats of patent litigation as leverage to extract monetary settlements from businesses who use the common/generic procedure or idea. Brokerages sometimes… Continue Reading Slaying Patent Trolls

The usual hotline answer to listing agents when a deal fails and the parties have not yet signed the SCR518 release: Tell seller, "In my experience as a REALTOR®, once the release is signed then everyone moves forward cleanly without legal entanglements. So self-settlement or mediator assisted self-settlement of the earnest money on the release… Continue Reading Listing Agent Thoughts When Deals Fail

Need legal funding help with your law firm bills? SCR legal action committee may be interested in supporting you in your legal action depending on the situation. Contact the SCR legal team for a SCR legal action fund application. 803-772-5206 Byron Austin Posted by : Byron King on 10/30/18 (This information is only accurate as… Continue Reading SCR Legal Action Committee and Fund

Interesting read on real estate licensee that rationalized and failed to have the courage to do the right thing and ended up imprisoned. https://magazine.realtor/daily-news/2018/11/06/ex-agent-reflects-on-mistakes-that-sent-her-to-prison?tp=i-H43-Bb-38c-5fPYb-1p-A5BZ-1c-5fapG-u1BrU&om_rid=83751373&Om_ntype=RMOdaily&om_mid=12066 Posted by : Byron King on 10/30/18 (This information is only accurate as of 10/30/18. You must contact SCR for updates and changes to this information after 10/30/18 as laws and… Continue Reading Carolina Real Estate Agent Talks about Crimes/Prison

Some things to consider when self-dealing. Self-dealing can occur when a licensee or the licensee's LLC or the licensee's partnership or the licensee's spouse enters into a transaction with the licensee's brokerage's client (e.g. listed seller client, buyer client in a buyer agency agreement). Self-dealing is a very high-risk strategy for REALTORS®. Avoid if possible.… Continue Reading Self Dealing – Means Disclose and Manage Risks

Drone imagery of roofs, common areas, sheds, etc. are common uses but drones can breach privacy such as imaging interiors of residences through windows. Copyright of video, movies, music, photos, etc. are commonly used but illegally using someone else's intellectual property can create a lawsuit (e.g. playing music at parties, showing movies outdoors, using stock… Continue Reading Top Three Ways HOA’s Get Sued

Get your 2.5 hours of ethics training completed no later than December 31, 2018. If classes qualify...several providers offer. You can do CE ethics classes. Several providers offer. You can do online ethics classes. NAR offers see below. You can do free online ethics classes. NAR offers see below. See this link: https://www.nar.realtor/about-nar/governing-documents/code-of-ethics/code-of-ethics-training Posted by… Continue Reading Ethics Deadline is December 31, 2018

https://www.nar.realtor/washington-report/opportunity-zones-proposed-rules-released On October 19, the Treasury Department released proposed rules for Qualified Opportunity Zones, a federal program created by the Tax Cuts and Jobs Act in 2017. The program incentivizes investment and development in distressed communities, designated as “Qualified Opportunity Zones” (QOZs) through tax benefits for investors. These benefits include deferral of federal capital gains… Continue Reading Opportunity Zones