Legal FAQs

Please see the federal website link with the dates of the typically occurring ten federal legal holidays: (NYD/MLK/Wash/Memor/Indep/Labor/Colum/Vets/Thx/Xmas) https://www.opm.gov/policy-data-oversight/snow-dismissal-procedures/federal-holidays/#url=2018 SCR310 residential contract when counting 24 hour periods for business days, do not count any hours on Saturdays, Sundays, or Federal Legal Holidays. Posted by: Byron King on 12/14/18 (This information is only accurate as of [...]

Buyers are solely responsible to investigate all issues about their insurance needs pre-contract or at a minimum during their due diligence period so the buyer does not become obligated to buy a property when their insurance costs are on the high end of their budget or expensive repairs are required (e.g. old roof, +20, old [...]

SCR will post the new seller disclosure to the SCR forms library ASAP. EFFECTIVE 1/1/19: REVISED South Carolina Residential Property Condition Disclosure Statement South Carolina Residential Property Condition Disclosure Statement (Effective 1/1/19) (Revised 11/18) (pdf) Due to a 2018 legislative amendment to the South Carolina Residential Property Disclosure Act, amendments to the South Carolina Residential [...]

Ranked by views: SCR Contract (7/27/17) Forms Chair Liz Loadholt (5200+ views) https://www.youtube.com/watch?v=m0XktGXlwuw&t=31s SCR Contract SCR staff (5/2/13) (4000+ views) https://www.youtube.com/watch?v=WDDoGEK5ibk&t=1190s Seller Disclosure SCR staff (7/25/13) https://www.youtube.com/watch?v=JY8VIzZM1oo&t=909s SCR forms update SCR staff (12/20/16) https://www.youtube.com/watch?v=FLL8Feutzn4&t=682s SCR Forms (1/11/18) Forms Chair Liz Loadholt https://www.youtube.com/watch?v=v-w5xOjajsI&t=205s SCR Forms (7/21/16) SCR staff https://www.youtube.com/watch?v=LsDBPb1l_o8&t=85s SCR311 Due diligence (12/16/13) SCR staff https://www.youtube.com/watch?v=t7Z_zxrbR0Y&t=32s [...]

Buyers should never solely rely upon the seller disclosure and advertising materials regarding the property that the buyers are considering buying. Buyers should hire qualified expert inspectors for all issues that matter to the buyers. Often there is great uncertainty about how offsite properties and offsite conditions might change in the future. Buyers must understand [...]

Buyers should always ask the seller about these issues and contract for a seller disclosure form which asks about these issues. Here is a rough draft idea for this issue, perhaps for SCR391. Seller affirms: that the Seller owns the Property and that Seller can convey the Property and that there is no and will [...]

SCR will post the new seller disclosure to the SCR forms library ASAP. EFFECTIVE 1/1/19: REVISED South Carolina Residential Property Condition Disclosure Statement South Carolina Residential Property Condition Disclosure Statement (Effective 1/1/19) (Revised 11/18) (pdf) Due to a 2018 legislative amendment to the South Carolina Residential Property Disclosure Act, amendments to the South Carolina Residential [...]

A few questions came in as the 11/15/18 SCR314/SCR312 webinar was wrapping up so here are the answers: Does SCR314 apply to commercial deals? Yes. Commercial brokers send SCR314 offer rejection for to buyers when the seller rejects the commercial buyer's offer without a counter offer or acceptance of offer. What is the counter offer [...]

NAR reports a win against patent trolls after a decade of legal fighting. Patent trolls are generally defined as a person/organization that asserts a patent on a common generic procedure or idea then uses threats of patent litigation as leverage to extract monetary settlements from businesses who use the common/generic procedure or idea. Brokerages sometimes [...]

The SC Vacation Rental Act was passed in 2002 and is designed to protect SC's tourism industry's reputation after some incidents where vacationing families traveled great distances to visit SC only to find their rental had been sold and they had no vacation place to stay/sleep so their vacation was ruined. Buyers who want to [...]