NAR ethics require an offer rejection writing.
SC state law and LLR require using the government form SCR314 offer rejection form.
These policies are so the other side has some timely and written acknowledgement that their offer was presented.
Listing agents always timely respond to an offer with a writing, one of the below:
1. Accepted contract.
2. Counter offer to the offer.
3. SCR314 (even if the other offer expired)
4. New offer (the other offer expired)
SCR312 pre-dates the government form SCR314 and so the SCR312 has now been retired since SCR314 is now required. This elimination of SCR312 also eliminates some confusion snice SCR312 and SCR314 both are offer rejection forms.
Use SCR314
SCR312 was an offer rejection form and contained additional language that could be used to set up a multiple offer highest and best terms offer scenario.
Use SCR314.
Do not use SCR312.
Set up multiple offer highest and best terms offer procedure via email once your seller approves using this procedure.
Posted by: Byron King on 12/09/22 (This information is only accurate as of 12/09/22. You must contact SCR for updates and changes to this information after 12/09/22 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 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.