https://llr.sc.gov/re/RECPDF/RealEstateNewsletter_October2019.pdf
Information on earnest money disbursement.
Risk management tip from SCR: use a trusted SC law firm as escrow agent and always get the lawyer to draft an escrow agreement upfront which states how the money is disbursed in a closing and failed closing.
Warning: LLR has prosecuted BICs for disbursing without a release/disbursement agreement/order by stating only such a document proves there is no seller dispute on the earnest money disbursement.
Information on coming soon advertising…per LLR, requires listing agreement.
Posted by: Byron King on 10/23/19 (This information is only accurate as of 10/23/19. You must contact SCR for updates and changes to this information after 10/23/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)