1. Be very nervous about rescission working or not working. Alert the client about the legal risks of rescission working or not working. For a buyer with the option to use SCR310 due diligence even after a failed rescission procedure, that makes the risks of a failed rescission less since the buyer could properly terminate… Continue Reading High Risk Rescission of Offers/Counters
If the buyer might need or desire to properly pay the due diligence termination fee to the seller electronically, everyone should coordinate well ahead of time to get the e-pay information communicated. Do not wait until the last minute because a late due diligence termination fee payment can void the due diligence termination and potentially… Continue Reading e-Paying the SCR310 Due Diligence Fee, Get Ready Well Ahead of Time
https://dor.sc.gov/resources-site/media-site/Pages/SC-issues-tax-relief-due-to-Hurricane-Idalia-October-extension-deadline-postponed.aspx Posted by: Byron King on 10/13/23 (This information is only accurate as of 10/13/23. You must contact SCR for updates and changes to this information after 10/13/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading IRS SCDOR and Hurricane Idalia Relief
https://www.nar.realtor/magazine/real-estate-news/sales-marketing/beware-of-title-pirates-wreaking-havoc-on-closings Posted by: Byron King on 10/12/23 (This information is only accurate as of 10/12/23. You must contact SCR for updates and changes to this information after 10/12/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR Alert on Title Pirates
https://www.nar.realtor/aei-year-round-virtual-sessions?grp=ae&narmail=EdgeUp%20&date=10-12-2023&user=56072 Posted by: Byron King on 10/12/23 (This information is only accurate as of 10/12/23. You must contact SCR for updates and changes to this information after 10/12/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR Resources for local association staff and AE’s and Presidents
Perhaps a way for a listing agent to discuss CL100 repairs requested on a buyer-submitted SCR525 for section #11 Wood Infestation Report of SCR310: (1) The seller is gathering information on the requested repairs to determine cost estimates or if the requested repairs fit into the SCR310 #11 CL100 repair requirements. or (2) The seller… Continue Reading SCR310 Section #11 CL100 Wood Infestation Report
https://www.nar.realtor/search-results?qu=professional%20standards%20case%20interpretation&qu=procuring%20cause&p=1 Posted by: Byron King on 10/10/23 (This information is only accurate as of 10/10/23. You must contact SCR for updates and changes to this information after 10/10/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR on Arbitrations
https://www.nar.realtor/videos/risk-management-webinar-series/financial-guardrails-for-associations Posted by: Byron King on 10/09/23 (This information is only accurate as of 10/09/23. You must contact SCR for updates and changes to this information after 10/09/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR Financial Risk Management
Perhaps, after attending the latest ARELLO government licensing staff association meetings and learning that only 18 states use buyer agency with the other 32 states' licensees likely being unfamiliar with practicing real estate in buyer agency, the SCREC wanted to ensure that new SC licensees have a basic understanding of buyer agency operations so this… Continue Reading LLR and Non-Resident Licensees Applying for SC License
SECTION 40-57-340. Conditions for license renewal; background checks; continuing education; exemptions. (A) As a condition of active license renewal: (1) A broker or salesperson shall submit to a criminal background check upon every third renewal as required for initial applicants pursuant to Section 40-57-115 and shall provide proof of satisfactory completion biennially of ten hours… Continue Reading Non-Resident Licensee and CE (e.g., double dip?)