SCR News Feed

https://www.youtube.com/watch?v=bcK-ox4NmeU Posted by: Byron King on 05/30/24 (This information is only accurate as of 05/30/24. You must contact SCR for updates and changes to this information after 05/30/24 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 [...]

Title 30 - Public Records CHAPTER 2 Family and Personal Identifying Information Privacy Protection ARTICLE 1 The Family Privacy Protection Act https://www.scstatehouse.gov/code/t30c002.php SECTION 30-2-50. Obtaining personal information from state agency, local government, or other political subdivision for commercial solicitation; penalty. (A) A person or private entity shall not knowingly obtain or use personal information obtained [...]

https://www.youtube.com/watch?v=iBe7diWw5kQ Posted by: Byron King on 05/30/24 (This information is only accurate as of 05/30/24. You must contact SCR for updates and changes to this information after 05/30/24 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 [...]

An important SC update for your colleagues and closing attorneys and title insurers as SC seeks to remedy a growing statewide title issue and legal issues that was impacting consumers. https://www.scstatehouse.gov/query.php?search=DOC&searchtext=881&category=LEGISLATION&session=125&conid=42195246&result_pos=0&keyval=1250881&numrows=10 NOTE: THIS IS A TEMPORARY VERSION. THIS DOCUMENT WILL REMAIN IN THIS VERSION UNTIL FINAL APPROVAL BY THE LEGISLATIVE COUNCIL. (A165, R191, S881) AN [...]

For risk management reasons, all licensees should get into the habit of properly providing paper or e-doc or link of the SCR110 to consumers at first substantive contact. This government form SCR110 is known as the LLR SCREC SCDREBR aka the old agency brochure. https://screaltors.org/wp-content/uploads/Forms/110.pdf One way to help think of SCR110 is to think [...]

https://screaltors.org/wp-content/uploads/Forms/120.pdf The SCR120 compensation agreement has a variety of uses including but not limited to: 1. FSBO seller agrees to compensate the buyer side brokerage. 2. Listing brokerage agrees to compensate the buyer side brokerage (e.g., when the buyer side brokerage is not a participant in the listing MLS, when the buyer side brokerage has [...]

The new license law includes a 48 hour requirement for the offer rejection form: (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 [...]

https://www.nar.realtor/videos/window-to-the-law/updates-to-anti-money-laundering-rules https://www.nar.realtor/money-laundering-and-terrorism-financing https://www.nar.realtor/washington-report/fincen-extends-the-beneficial-ownership-rule-reporting-deadline-for-certain-entities https://www.nar.realtor/washington-report/fincen-issues-final-beneficial-ownership-access-rule https://www.fincen.gov/boi https://www.nar.realtor/washington-report/nar-engages-with-treasury-on-beneficial-ownership-matters SPE, Beneficial Ownership Filing, Special Purpose Entity Posted by: Byron King on 05/24/24 (This information is only accurate as of 05/24/24. You must contact SCR for updates and changes to this information after 05/24/24 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org [...]