Legal FAQs

Prepare for 5G, 3G Changes

2022-02-22T11:36:47-05:00February 22nd, 2022|Legal FAQs|

Home alarm systems, vehicle systems, smartphones, and other wireless devices may be impacted as carriers transition from 3G to 5G. SCR310 due diligence can provide time and procedures for potential buyers to inspect the home alarm system. https://www.wbrc.com/2022/02/17/3g-shutdown-could-impact-your-home-security-system/ Posted by: Byron King on 02/22/22 (This information is only accurate as of 02/22/22. You must contact… Continue Reading Prepare for 5G, 3G Changes

2022 Ethics, New Duty for Buyer Side, Etc.

2022-02-17T16:45:39-05:00February 17th, 2022|Legal FAQs|

REALTORS® on the buyer side of the transaction have a new ethics duty in 2022. The new ethics can apply to some other situations as well. See SOP 1-8 and excerpt below. ...Upon the written request of the listing broker who submits a counter-offer to the buyer’s tenant’s broker, the buyer’s/tenant’s broker shall provide, as… Continue Reading 2022 Ethics, New Duty for Buyer Side, Etc.

Beachfront Erosion Lawsuit

2022-02-14T09:14:50-05:00February 14th, 2022|Legal FAQs|

https://www.thestate.com/article258269408.html Real estate agents risk management to help protect yourselves and the sellers and the buyers, use SCR391 https://screaltors.org/wp-content/uploads/Forms/391.pdf SCR391 has a Coastal Tidelands and Wetlands Act Section for the seller to complete. Another risk management form: SCR230 seller disclosure. https://screaltors.org/wp-content/uploads/Forms/230.pdf Posted by: Byron King on 02/14/22 (This information is only accurate as of 02/14/22.… Continue Reading Beachfront Erosion Lawsuit

Forms Training Coming In the Near Future

2022-02-09T15:13:03-05:00February 9th, 2022|Legal FAQs|

Stay tuned for SCR forms training in the near future. Today, the SCR BOD approved updates to the SCR310 and SCR300 residential purchase agreements to singularly feature the current due diligence language. Posted by: Byron King on 02/09/22 (This information is only accurate as of 02/09/22. You must contact SCR for updates and changes to… Continue Reading Forms Training Coming In the Near Future

Present Offers and Counter-Offers Objectively and as Quickly as Possible

2022-02-03T09:46:41-05:00February 3rd, 2022|Legal FAQs|

All REALTORS® on both sides of the transaction now have "mirror image" duties to present all offers and counter-offers objectively and as quickly as possible and to provide written affirmation of presentation in accordance with ethics/laws. Legally, a counter-offer is an offer that can be timely/properly accepted unless timely/properly rescinded/rejected. Standard of Practice 1-6 REALTORS®… Continue Reading Present Offers and Counter-Offers Objectively and as Quickly as Possible

SC Attorney General on Millage Increases for Reserves

2022-02-03T09:07:10-05:00February 3rd, 2022|Legal FAQs|

https://www.scag.gov/media/3ifmjva0/02795860.pdf Posted by: Byron King on 02/03/22 (This information is only accurate as of 02/03/22. You must contact SCR for updates and changes to this information after 02/03/22 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 SC Attorney General on Millage Increases for Reserves

SC Attorney General on HOA/Nonprofits Zoom Meetings

2022-02-03T08:59:05-05:00February 3rd, 2022|Legal FAQs|

https://www.scag.gov/media/fddl4ton/02816114.pdf Posted by: Byron King on 02/03/22 (This information is only accurate as of 02/03/22. You must contact SCR for updates and changes to this information after 02/03/22 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 SC Attorney General on HOA/Nonprofits Zoom Meetings

SC Attorney General on “Fire Fighting Equipment” Impact Fees (Grand Strand Area Dec 2021)

2022-02-03T08:55:32-05:00February 3rd, 2022|Legal FAQs|

https://www.scag.gov/media/jhndvgfw/02850118.pdf Posted by: Byron King on 02/03/22 (This information is only accurate as of 02/03/22. You must contact SCR for updates and changes to this information after 02/03/22 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 SC Attorney General on “Fire Fighting Equipment” Impact Fees (Grand Strand Area Dec 2021)

Leased and Financed Issues – Parties Get Attorneys Working ASAP

2022-01-27T11:00:22-05:00January 27th, 2022|Legal FAQs|

Reminder to get the closing attorneys working on all lease and financed equipment issues (e.g., solar panels, security systems, tenants, vacationers, documents, liens, payoffs, deposits, access, gas tanks, spa, pool, disclosure, assumption, assignment, removal, equipment) A.S.A.P. This applies to listing agents and buyer agents. Immediately upon learning any of these issues may be potentially involved… Continue Reading Leased and Financed Issues – Parties Get Attorneys Working ASAP

Changing Brokerages/Teams or Breaking Up Is Hard to Do (Neil Sedaka)

2022-01-25T09:52:05-05:00January 25th, 2022|Legal FAQs|

The hotline regularly receives trouble calls when associated licensees want to change brokerages (and/or change teams) when issues such as: clients, pendings, leads, compensation, referrals, files, bills, and equipment issues are disputed. Unfortunately during the hotline, many members state that there is no written legal agreement covering these issues. That lack of a written legal… Continue Reading Changing Brokerages/Teams or Breaking Up Is Hard to Do (Neil Sedaka)

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