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 Legally, a counter-offer is an offer that can be timely/properly accepted unless timely/properly rescinded/rejected.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

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

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

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)

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

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)

Please read the 2/16/21 case from LLR at the link below. LLR SCREC says do not give entry codes for lockboxes to unauthorized persons (aka potential buyers). https://eservice.llr.sc.gov/PublicOrdersWeb/?divisionId=19 Posted by: Byron King on 01/21/22 (This information is only accurate as of 01/21/22. You must contact SCR for updates and changes to this information after 01/21/22… Continue Reading LLR Case: Do Not Give Entry Codes to Lockboxes to Unauthorized People (aka potential buyers)

Reminder to alert/document/copy parties to their lead hazards information and duties. https://www.epa.gov/lead/real-estate-disclosures-about-potential-lead-hazards Recently, the Hotline has been getting several of the same types of questions on the lead forms section (c) initials and (d) initials. Buyers and Tenants getting the EPA pamphlet Protect Your Family from Lead in Your Home should initial (d). So, (d)… Continue Reading Lead Based Hazard Forms for Sales/Rentals

The deadline for filing the ATI Exemption Form for 6% assessment transactions which closed in the prior year is the end of January. Q. Why does SCR send members this ATI form reminder every year when legally, the REALTOR® has nothing to do with filing this ATI form? A. Because if the buyer fails to… Continue Reading 6% Assessment Deal Closed – Remind Buyers ATI Filing Must Occur in January!

The term REALTOR® is a trademark and NAR requires adhering to their trademark rules so that the trademark remains legally owned by NAR and not in the public domain. In general, you can use the term REALTOR® with your member name. Contact the hotline for all trademark issues. 803-772-5206 or info https://cdn.nar.realtor/sites/default/files/documents/2021-membership-marks-manual-2021-12-23.pdf https://www.nar.realtor/videos/window-to-the-law/new-membership-marks-manual-for-the-realtor-trademark Posted by:… Continue Reading NAR Publishes New Trademark Manual for Members