Lead Based Hazard Forms for Sales/Rentals

By |2022-01-14T12:32:28-05:00January 14th, 2022|Legal FAQs|

Reminder to alert/document/copy parties to their lead hazards information and duties. https://www.epa.gov/lead/real-estate-disclosures-about-potential-lead-hazards Recently, the Hotline has been getting several of the same types of questions on the lead forms section (c) initials and (d) initials. Buyers and Tenants getting the EPA pamphlet Protect Your Family from Lead in Your Home should initial (d). So, (d) [...]

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6% Assessment Deal Closed – Remind Buyers ATI Filing Must Occur in January!

By |2022-01-13T14:18:35-05:00January 13th, 2022|Legal FAQs|

The deadline for filing the ATI Exemption Form for 6% assessment transactions which closed in the prior year is the end of January. Q. Why does SCR send members this ATI form reminder every year when legally, the REALTOR® has nothing to do with filing this ATI form? A. Because if the buyer fails to [...]

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NAR Publishes New Trademark Manual for Members

By |2022-01-11T11:01:04-05:00January 11th, 2022|Legal FAQs|

The term REALTOR® is a trademark and NAR requires adhering to their trademark rules so that the trademark remains legally owned by NAR and not in the public domain. In general, you can use the term REALTOR® with your member name. Contact the hotline for all trademark issues. 803-772-5206 or info https://cdn.nar.realtor/sites/default/files/documents/2021-membership-marks-manual-2021-12-23.pdf https://www.nar.realtor/videos/window-to-the-law/new-membership-marks-manual-for-the-realtor-trademark Posted by: [...]

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Reminder: Evictions and Service Members (Civil Relief Act)

By |2021-12-23T09:41:30-05:00December 23rd, 2021|Legal FAQs|

https://magazine.realtor/daily-news/2021/12/21/cfpb-doj-warn-against-illegal-evictions-of-military-vets?AdobeAnalytics=ed_rid%3D56072%26om_mid%3D5936%7CRealtorMagNews_2021_12_21%26om_ntype%3DREALTOR%20MAG%20NEWS Posted by: Byron King on 12/23/21 (This information is only accurate as of 12/23/21. You must contact SCR for updates and changes to this information after 12/23/21 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 [...]

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Why Hotline Says Listing Agents Must Recommend Sellers Obtain Legal Counsel

By |2021-12-20T11:26:00-05:00December 20th, 2021|Legal FAQs|

In the NAR code of ethics, "shall" means a REALTOR® must do something or potentially face ethics violations. The Hotline says to tell the sellers to obtain legal counsel - meaning hiring/consulting the trial lawyers that the seller will hire if the first buyers or the second buyers or both sets of buyers sue the [...]

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New Ethics and Members Wonder Why Hotline Says Must Recommend OBTAIN LEGAL COUNSEL

By |2021-12-20T10:43:33-05:00December 20th, 2021|Legal FAQs|

Members sometimes wonder why the SCR Hotline says that the REALTOR® must recommend the parties obtain legal counsel. Here is one reason, the NAR Code of Ethics. See SOP 1-8 and Article 13 and Article 1 below. SHALL means a REALTOR® will do something or potentially face an ethics complaint. REALTORS®, acting as agents or [...]

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SCR Forms Staff Liaison Working on SCR Form for New Ethics

By |2021-12-20T10:33:53-05:00December 20th, 2021|Legal FAQs|

"I affirm via this document/text/email/form that the counteroffer has been submitted to the buyers/tenants." or "NOTICE: the buyers/tenants have waived the obligation to have the counter offer presented." [Warnings:  Not many buyers/tenants will waive this obligation.   For risk management, get any such waiver in writing and signed by the buyers/tenants.] Upon the written request of the [...]

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SC Court of Appeals on 4% homestead Property Tax

By |2021-12-14T12:23:06-05:00December 14th, 2021|Legal FAQs|

https://www.sccourts.org/opinions/HTMLFiles/COA/5876.pdf Posted by: Byron King on 12/14/21 (This information is only accurate as of 12/14/21. You must contact SCR for updates and changes to this information after 12/14/21 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 [...]

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Earnest Money #1 hotline question

By |2021-12-14T10:25:46-05:00December 14th, 2021|Legal FAQs|

Earnest Money in a Failed Deal Contact the SCR Legal Hotline (803-772-5206)(legal). Keep your BIC and team in the know. Who holds the earnest money in a failed closing? Lawyer or BIC? If a lawyer holds the earnest money: Ask that lawyer what is needed to disburse? SCR518? Mediation agreement? Other? Upon taking the buyer's [...]

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Huge NAR Ethics Change on January 1, 2022

By |2021-12-13T13:56:28-05:00December 13th, 2021|Legal FAQs|

2022 cooperating brokers who are REALTORS® must provide to the listing broker, as soon as practical, written affirmation that the counter-offer has been presented has been submitted to the buyers/tenants (or written notification that the buyers/tenants have waived the obligation to have the counter-offer presented). Revised Standard of Practice 1-8 of the Code of Ethics [...]

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