Legal FAQs

SCR contract discusses leased/financed issues in Section 3 (property) and Section 4 (conveyance - clear title without liens) and Section 22 Adjustments (proration/etc): Section 3: Buyer acknowledges opportunity to inquire about owners association issues, common area issues, condominium master deed issues, assigned parking/storage areas, memberships, lease issues and financed equipment prior to signing Contract. Leasing… Continue Reading Leased/Financed solar panels, alarm systems, fuel tanks, tenants, future vacation renters

HVAC issues will become more important for consumers as EPA regulations on refrigerant changes post 2020. https://www.epa.gov/ods-phaseout/purchasing-and-repairing-home-air-conditioners-or-heat-pumps Posted by : Byron King on 10/04/18 (This information is only accurate as of 10/04/18. You must contact SCR for updates and changes to this information after 10/04/18 as laws and regulations may change over time). SCR 803-772-5206… Continue Reading Summer is Coming

Here are some NAR mediation and ombudsman (ethics mediation) training videos. Congratulations to the 2018 SCR mediation school graduates and SCR ombudsman school graduates. Thank you to the instructor, Stephanie Walker! Great job! https://www.youtube.com/user/NAREALTORS/search?query=mediation Posted by : Byron King on 10/03/18 (This information is only accurate as of 10/03/18). You must contact SCR for updates… Continue Reading Mediation and Ethics Mediation (ombudsman)

An easy way for Listing Brokerage and Listing Associated Licensees to remember their duty when the buyer submits a written offer...ALWAYS RESPOND. "Always respond" means one of these three responses: 1. Seller sends a written counteroffer to the buyer side. or 2. Seller sends a written acceptance to the buyer side. or 3. Brokerage sends… Continue Reading Listing Brokerage Must Always Respond to Buyer Offers

https://www.nar.realtor/money-laundering-and-terrorism-financing The crime of money laundering continues to be a growing area of concern in the United States. Therefore, law enforcement agencies and the financial sector devote considerable time and resources to combatting these illegal financial activities. While money laundering is most often associated with banks and other financial institutions, real estate transactions can also… Continue Reading NAR on Money Laundering

Storms and Forms If you ever have a buyer or seller or tenant or landlord impacted by a natural disaster or a man-made disaster/disorder always recommend the parties obtain legal counsel asap. You are ethically bound to make this recommendation under the NAR Code of Ethics, Article 13. The law firm can discuss statutory and… Continue Reading Storms and Forms

NAR Code of Ethics: Article 9 Realtors®, for the protection of all parties, shall assure whenever possible that all agreements related to real estate transactions including, but not limited to, listing and representation agreements, purchase contracts, and leases are in writing in clear and understandable language expressing the specific terms, conditions, obligations and commitments of… Continue Reading Making the Copies…

Owners association disclosure calls to the hotline revolve around two main post-closing issues: (1) fees for the owners association (e.g. fees are increasing dramatically, the seller concealed a $40,000 special assessment) and (2) the rules/management of the owners association (e.g. I can't park my RV in the driveway, the board enforces nitpicky rules, the manager… Continue Reading Owners Associations

Upon flood, storm, wind, hurricane, fire, earthquake, or other whole/partial damage to the Property, the buyer or the seller have a window where either can timely/properly terminate the deal. If neither the buyer nor the seller timely/properly terminate the deal within the window, then the seller is obligated to repair the damage or provide an… Continue Reading SCR300 SCR310 Residential Contract’s Fire/Casualty/Injury Section

SCR311 Due Diligence addendum allows a buyer to timely and properly terminate. Sellers have agreed to maintain the Property in Section 3 of SCR310 contract. The SCR310 contract has provisions for casualty/injury and re-inspections and seller disclosure and mold/fungi. The seller disclosure has many pertinent questions for potential disasters including water questions and contamination questions… Continue Reading Hurricanes, Storms, Floods, Earthquakes, Natural and Man Made Disasters