Legal FAQs

If new buyers do not reset security applications/passwords, the sellers may still have access to front door locks, garage doors, cameras/microphones inside the home/bedrooms, thermostats, other connected devices after closing. SCR contract requires sellers to provide all "codes" and "documents" which would include the passwords to change the surveillance app access and other connected devices.… Continue Reading Buying a Smart Connected Home? Ensure the Seller Can’t Spy/Unlock

The General Assembly saw that commercial leases give much value to the real estate, much like a tradesman gives value when installing kitchen equipment in a restaurant, etc. So, commercial leasing can enable you to use the mechanic's lien statute. https://www.scstatehouse.gov/code/t29c005.php SECTION 29-5-21. Services of surveyor and real estate licensee as improving real estate; real… Continue Reading Commercial Leasing, Mechanic’s Lien for BIC’s

Best practices for extending the closing date in a residential deal on SCR310/300 forms can be read in this article. Because parties sometimes desire to extend the closing date for a variety of reasons and because at the end of that extension when the closing still has not occurred, the parties often argue if the… Continue Reading Extending the Closing Date

Example: Repair Procedure with 10 business days filled on SCR310 in for buyer inspection date. (Inspection period can be more or less than 10 business days depending on what the buyers and sellers agree upon in SCR310). While some buyers might only order a home inspection to save inspection money, there is a long list… Continue Reading Repar Procedure Due Diligence

At recent 2018 law firm training events, a law firm stated that they have received reports of real estate licensees facing discipline at the SC LLR Appraisers Board for "unauthorized practice of appraisal" arising when county tax assessors report real estate licensees for providing BPO/CMA/similar documents to property owners and property owners use these documents… Continue Reading Unauthorized Practice of Appraisal (The Price is Right)

Must watch NAR video on Fair Housing...starts at the 11 minute mark of the NAR meeting video. http://live.blogs.realtor.org/2018/05/16/full-version-of-nar-360-now-available-2/ Federal fair housing act is celebrating the 50th anniversary. On May 16, 2018; SCR members visited the SC congressional delegation to ask for support of HR1447 to include sexual orientation and gender identity as protected classes in… Continue Reading Fair Housing – Dramatic Video From NAR

During the May 19, 2018, NAR Board of Directors meeting, NAR adopted the NAR professional standards committee recommendation to update Standard of Practice 1-7 by adding: "Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker stating… Continue Reading NAR Code of Ethics Set to Match SC License Law

https://www.nar.realtor/about-nar/policies/professional-standards-and-code-of-ethics/a-buyers-and-sellers-guide-to-multiple-offer-negotiations Posted by : Byron King on 5/21/18 (This information is only accurate as of 5/21/18. You must contact SCR for updates and changes to this information after 5/21/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

For fair housing risk management purposes, REALTORS® are reminded to always describe the property not the actual/ideal buyers, sellers, landlords, tenants themselves. Describe the real estate. Even when describing real estate, be careful. Even benign sounding terms can result in issues (e.g. walkable/disability, near Baptist Church/religion, great backyard for kids/familial status). Do not describe the… Continue Reading Leasing/Renting, Fair Housing, Brokerage Policy – Compensation & Areas of Practice

REALTORS® should always use caution and due diligence with any unknown buyers who cold contact the REALTOR® with a desire for a cash deal with a quick close and early occupancy. REALTORS® should require background information such as proper documentation of sufficient available cash and identification. For fair housing risks, best practices can mean that… Continue Reading Safety Alert to All REALTORS(R) Statewide