Buyers need their attorney to investigate CCR's and HOA's either prior to contract or during the due diligence period if the buyer wants the ability to terminate should there be CCR's or HOA or Condo issues that the buyer does not want (e.g. visitor restrictions, rental restrictions, costs, management, solvency, cannot park RV/boat/tractor trainer on… Continue Reading Covenants, Restrictions, Owners Association, Condo Deed, Bylaws
Why Due Diligence Addendum SCR311 is Good for Sellers and Buyers Sellers get paid the SCR311 due diligence termination fee when the buyers timely/properly terminate under due diligence. Sellers avoid litigation and lawyers and experts and mediation that can cost the sellers time and money with the first failed deal and that failed deal’s lawsuits… Continue Reading How Repair Procedure Questions Get Answered.
Photo credit: VHT Studios By Brian Balduf, VHT Studios Technology and the convenience it offers to buyers and sellers has changed real estate forever. The days of starting a home search inside the office or car of a real estate professional and touring five or six houses are long gone. Now, interested buyers expect to… Continue Reading Virtual Staging Transforms Cold, Vacant Spaces Into Warm, Welcoming Homes
Steve Martin, better meetings, a new Girl Scout cookie, a solution for open offices and making schools safer for students and staff. Making meetings more effective. We all need that! More than 8 million square feet of shopping space–what else will the new Dubai Square mall contain? Floor to ceiling windows can make schools safer,… Continue Reading What We’re Reading: August 13-17
NAR Code of Ethics Article 12: Standard of Practice 12-4 REALTORS® shall not offer for sale/lease or advertise property without authority. SC real estate license law: (E)(1) A licensee may not advertise, market, or offer to conduct a real estate transaction involving real estate owned, in whole or in part, by another person without first… Continue Reading Advertising Properties with/without Listing Agreement
Pop quiz, do you know what C.L.U.E. stands for? (See the answer at the bottom of this article.) p.s. If you do not know what a C.L.U.E. report means in general and you practice real estate, you are already at risk for a lawsuit. [Contact asap your BIC, your law firm, your E&O insurer, the SCR legal… Continue Reading Insurance Problems, Flood Insurance Problems, CLUE report
Home prices continue to increase although the pace of price appreciation has slowed. As of June 2018, the national median sales price of existing homes sold rose to a peak of $276,900, the highest level since 20001 when NAR started tracking this data. However, the pace of appreciation has been slowing. In June 2018, the… Continue Reading Which Metro Areas Have Rising Prices and Faster Selling Time as of June 2018?
AKA Psychologically affected...AKA Psychological Impact...AKA Psychological Stigmas While no legal duty exists to disclose psychological stigmas, it may be in the seller's best interests to disclose "psychological stigmas" in the seller's disclosure...here's why. If the seller does not disclose in the seller disclosure, then the contract may proceed for weeks/months toward closing but the day… Continue Reading Murders and Ghosts and Deaths and Crimes and Rumors/Reports and Real Estate
This blog was written by NAR Research’s intern, Bronwen Leibe. Hi again, it’s me, the research intern! Let’s take a closer look at this year’s member profile! In the 2018 NAR Member Profile, females still make up 63 percent of all REALTORS®. This remains notably constant throughout years of experience (girl power!). Females dominate the profession,… Continue Reading A Dive into 2018 Member Demographics
Interesting read on SC Supreme Court's take on a house flipper's business license fees. https://www.sccourts.org/opinions/HTMLFiles/SC/27829.pdf Please read the footnote #1 on page #1. The City's ordinance refers to this as a business license "fee"; however, a business license fee operates essentially as a tax Posted by : Byron King on 8/16/18 (This information is only… Continue Reading Business License Fees, SC Supreme Court Case