SCR Legal Hotline 803-712-3478 or SCR main phone line 803-772-5206 or info
10 Agency Issues.
9. Compensation Issues (e.g., SCR120 compensation agreement for FSBO and out of your MLS listings pre-offer and to change MLS coop compensation offer during pre-offer stage, SCR130 buyer agency, SCR600 broker to broker referral agreement, brokerage/team compensation agreements drafted by your lawyers).
8. Due diligence. If a buyer properly terminates under SCR310 due diligence, that generally ends the transaction without successful litigation and the seller should properly receive the due diligence termination fee unless in breach action, and anticipate that most judges will award the earnest money to the buyer. Generally, sellers move on to the next buyer and deal.
7. Property management – new SCR vacation rental act forms, get closing attorneys working all lease issues asap.
6. Advertising – Do not mislead, comply with CAN SPAM email advertising and Do Not Call laws, disclose your brokerage and advertising requires proper authority.
5. Disclosure – SCR233 Flood Insurance and Insurance Disclosure Form…reports are that insurance costs are increasing and availability is decreasing in some areas.
4. License Law. Get renewed ASAP if you forgot to renew by June 30.
3. Ethics and Professionalism – GGAR joined the Statewide Cooperative Professional Standards Program.
2. Forms – Spanish explanation forms, SCR leaders and directors approved funding the zipForms member benefit for 2024. Updates to the vacation rental forms. Personal property forms. Updates to the owners association insurance assessment issues coming soon.
1. State law issues.
Posted by: Byron King on 07/24/23 (This information is only accurate as of 07/24/23. You must contact SCR for updates and changes to this information after 07/24/23 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.