After the Surfside condo collapse, the feds created some risk management using Fannie and Freddie lending which may impact your condo deals (e.g., risk management questionnaire). Please contact SCR if you have reports of condo purchase issues related to these risk management rules (e.g., the HOA is hesitant to complete the risk management questionnaire, multistory… Continue Reading NAR on Condo Questionnaire Issues from the Feds
South Carolina Association of REALTORS® (SCR) Forms Policy Permitted users of SCR’s standard forms SCR standard forms should only be used by REALTOR® members of the South Carolina Association of Realtors®. Revisions to format/pre-printed language of a standard form by user Revisions to the format or pre-printed content of any standard forms are prohibited. Permitted… Continue Reading Current SCR Forms Policy
SCR310 is an AS IS contract with a due diligence section and an inspection/reinspection section to allow a buyer the option to inspect the property and properly negotiate repairs or negotiate seller concessions or terminate. Also, SCR310 allows final inspections. https://screaltors.org/wp-content/uploads/Forms/310.pdf Some buyer agents recommend obtaining all inspections and the buyers decide which inspections to… Continue Reading Buyers Forego Inspections at Their Own Peril!
At a recent BICs meeting, the lack of professionalism in the marketplace was a common complaint. #1. Listing agents not acknowledging receipt of offers for extended periods of time (e.g., 1 week, 3 weeks) was a common complaint. Professionalism is a two way street so some listing brokerages recommended that buyer agents also increase their… Continue Reading Be Professional!
Cybercrime losses reached all-time highs in 2021, with more than $6.9 billion in reported losses according to the FBI's Internet Crime Complaint Center. While the media reports on major attacks, no organization is immune from cyber thieves. And, according to Aon Risk Services, ransomware attacks alone are up 323% from 2019 to 2021. In other… Continue Reading NAR Cyber Crime (Wire Fraud, More) Webinar, Register!
Google Translate on a Computer Can Possibly Translate Any Doc Into Any Language Have a buyer or seller or tenant or landlord who is not proficient in English? Google Translator can fill in until the consumer talks to their bi-lingual lawyer for legal advice translations. This link below or even a smartphone Google Translator App… Continue Reading Google Translate on a Computer Can Possibly Translate Any Doc Into Any Language
If you see solar panels on a property during your listing presentation or during a buyer showing, be on high alert, ask questions, get things in writing, call the hotline, and get the parties' attorneys working on the below issues asap. SCR310 requires the seller to convey a vacant property free of encumbrances or liens.… Continue Reading See Solar Panels on Listing Presentation or Showing? Be on Alert!
NC link: https://ncfarmlink.ces.ncsu.edu/heirs-property/ TV segment on SC heirs property. https://peabodyawards.com/award-profile/vice-on-showtime-losing-ground/#:~:text=In%20Losing%20Ground%2C%20VICE's%20Alzo,and%20ethically%20questionable%20legal%20mechanisms. Posted by: Byron King on 08/22/22 (This information is only accurate as of 08/22/22. You must contact SCR for updates and changes to this information after 08/22/22 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron… Continue Reading Heirs Property
10. Fair housing (ADA, service/support animals)9. How to do due diligence. (SCR lawyers can do training for your office) 8. Do not call laws. (Check your brokerage do not call list and federal do not call list before you call to solicit) 7. Register alternative first name with SCLLR SCREC (aka nickname use) 6. REALTOR®… Continue Reading Top Ten Hotlines July 2022
Summary: LLR suspended a BIC's license and fined and probation as discipline for several complaints from the public regarding: Not executing certain required documents and not providing copies of certain documents. Operating on verbal agreements. Not cooperating with LLR investigations. Making false statements to LLR investigations. Significant and allegedly suspicious handling of large amounts of… Continue Reading LLR