Properly use the LLR offer rejection form (SCR314).
The offer rejection form is not dead.
The offer rejection form is now stronger than last year. There is a time limit now (e.g., within 48 hours of rejection). Call the hotline if your sellers are incommunicado and you fear missing this deadline. Properly communicating with the buyer side can often help prevent upset or suspicions that offers were never presented.
Remember, LLR SCREC considers an expired offer to be rejected.
So, properly use the LLR offer rejection form (SCR314).
Reminder: LLR SCREC allows you to voluntarily add your sellers’ signatures to the offer rejection form and the sellers’ signatures often help placate the buyer side who suspect the sellers never saw their offer. That being said, LLR SCREC does not allow SCR to add the sellers’ signature line to the standard SCR314 form.
(4) The broker-in-charge shall ensure that supervised licensees prepare all offers and counteroffers in writing, have them dated and signed by the offerors, and promptly present them to the offerees or the offerees’ representative and ensure that:
(a) changes or modifications made during negotiations are in writing and initialed and dated by both parties before proceeding with the transaction;
(b) all of the terms and conditions of the transaction are included in the offer to purchase; and
(c) if supervised licensees obtain a written acceptance of an offer or counteroffer, true, executed copies will be promptly delivered to all parties.
(5) If an offer is rejected without counter, an offer rejection form, promulgated by the commission, signed by the licensee affirming presentation of the offer must be provided to the offeror by the licensee within forty-eight hours of rejection, whether the agent of the buyer, the seller, or if acting as a transaction broker.
(6) An offer and counteroffer may be communicated by use of a fax or other secure electronic means including, but not limited to, the Internet, and the signatures, initials, and handwritten or typewritten modifications to the foregoing documents are considered valid and binding upon the parties as if the original signatures, initials, and handwritten, or typewritten modifications were present on the documents in the handwriting of each party.
This information is only accurate as of 4/8/25. You must contact SCR for updates and changes to this information after 4/8/25 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 information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.