A New York court denied a broker suing a seller for commission from a deal because the broker was working as an undisclosed dual agent. SCR310 page 8 is how REALTORS® can disclose their agency or non-agency position(s) in the transaction. SCR310 page 8 is how the clients and or customers in a transaction can… Continue Reading Another Reason to Fill Out Page 8 of SCR310, Get Paid
Want to learn what is happening in courts across the USA regarding real estate? Read NAR legal summaries here: https://www.nar.realtor/legal-case-summaries 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 regulations may change over… Continue Reading USA Real Estate Cases Summarized
If a buyer wants a roof inspection, recommend the buyer hire a roofing expert inspector and do not give the buyer a ladder to climb high to look at the roof because if the buyer falls and gets injured, the buyer's attorney might sue you. https://www.nar.realtor/legal-case-summaries/broker-not-liable-for-injuries-0 Broker Not Liable for Injuries October 24, 2018 Being… Continue Reading NAR Article on Buyer Injured at Illinois Property, Sues Listing Brokerage
SCR310 contract's Section 8 allows all sorts of inspections during the inspection period (e.g. home inspector, elevator inspector, pool inspector, hvac inspector, surveyor, engineer, contractor, roof expert, chimney sweep, electrician, plumber, well expert, septic expert, tree expert, soil expert, air quality inspector, asbestos expert, mold expert, radon expert, sprinkler expert, lawn expert, foundation expert, driveway… Continue Reading Access to Listed Property During Contract
Here is a 1999 NAR article and the case law that illustrates the high risk for an associated licensee or BIC to buy a brokerage listing...or for associated licensee or BIC to sell to a brokerage buyer client....or engage in leasing with similar parties. To proceed, you need lawyer drafted formal agreements for self-dealing that… Continue Reading Self Dealing, Darby v. Furman, High Risk for Brokerages
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