Legal FAQs

/Legal FAQs

Access to Listed Property During Contract

By |2018-10-26T09:18:07+00:00October 26th, 2018|Legal FAQs|

SCR310 contract's Section 8 allows all sorts of inspections during the inspection period (e.g. home inspector, elevator inspector, pool inspector, hvac inspector, surveyor, engineer, contractor, roof expert, chimney sweep, electrician, plumber, well expert, septic expert, tree expert, soil expert, air quality inspector, asbestos expert, mold expert, radon expert, sprinkler expert, lawn expert, foundation expert, driveway [...]

Self Dealing, Darby v. Furman, High Risk for Brokerages

By |2018-10-24T16:33:37+00:00October 24th, 2018|Legal FAQs|

Here is a 1999 NAR article and the case law that illustrates the high risk for an associated licensee or BIC to buy a brokerage listing...or for associated licensee or BIC to sell to a brokerage buyer client....or engage in leasing with similar parties. To proceed, you need lawyer drafted formal agreements for self-dealing that [...]

How to Work Without a Financing Contingency

By |2018-10-23T14:13:45+00:00October 23rd, 2018|Legal FAQs|

SCR310 Residential Contract can operate without a financing contingency if the buyer has cash or uses the due diligence addendum. SCR310 Section 7 Financing Contingency requires the buyer to make a good faith effort to get their purchase money loan but does allow the buyer to terminate up to closing if the lender does not [...]

LLR SCREC October Newsletter

By |2018-10-23T09:23:48+00:00October 23rd, 2018|Legal FAQs|

https://www.llr.sc.gov/POL/REC/RECPDF/RECNewsletterOct2018.pdf Posted by : Byron King on 10/23/18 (This information is only accurate as of 10/23/18. You must contact SCR for updates and changes to this information after 10/23/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

Check Your Forms Library – SCR230 LLR Seller Disclosure

By |2018-10-23T08:07:53+00:00October 23rd, 2018|Legal FAQs|

Recently, it was discovered that LLR published two versions of their Residential Property Condition Disclosure Statement aka seller disclosure in June of 2017 under the same form designation "6/2017" at the bottom of the form. Here is the current LLR version of this form: https://www.llr.sc.gov/POL/REC/RECPDF/Property%20Condition%20Disclosure%20Statement.pdf The screaltors.org website is updated with his version and zipForms [...]

Citation Offense = Potential Anonymous Ethics Complainants to Respondents

By |2018-10-22T10:37:35+00:00October 22nd, 2018|Legal FAQs|

The 2018 SCR Board of Directors approved allowing complainants to remain anonymous to respondents when the complaint only includes a citation level offense. SCR staff will see the complainants name on the filed written ethics complaint. Citation level offenses are typically less egregious offenses and are listed below. Most of these are related to advertising [...]

Spell Out What You are Offering

By |2018-10-22T09:04:30+00:00October 22nd, 2018|Legal FAQs|

Article 12 of the NAR Code of Ethics is centered on advertising communications. Advertising can be in many forms, including Facebook. Many portions of Article 12 (advertising) fall under the SCR citation program (aka ethics traffic tickets for less serious ethics violations, notably advertising ethics) whereby the respondent can accept any offered fine and education [...]

New HOA Laws

By |2018-10-19T08:33:21+00:00October 19th, 2018|Legal FAQs|

"CHAPTER 30 Homeowners Associations Article 1 South Carolina Homeowners Association Act Section 27-30-110. This article may be cited as the 'South Carolina Homeowners Association Act'. Section 27-30-120. As used in this article: (1) 'Board' means the representative body, regardless of name, designated in the governing documents to act on behalf of a homeowners association and [...]

New HOA laws

By |2018-10-19T08:31:01+00:00October 19th, 2018|Legal FAQs|

https://www.scstatehouse.gov/query.php?search=DOC&searchtext=3886&category=LEGISLATION&session=122&conid=10940687&result_pos=0&keyval=1223886&numrows=10 Posted by : Byron King on 10/19/18 (This information is only accurate as of 10/19/18. You must contact SCR for updates and changes to this information after 10/19/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

Legal and Ethical News

By |2018-10-18T09:24:46+00:00October 18th, 2018|Legal FAQs|

As of October 17, 2018: Both the SCR Executive Committee and Board of Directors approved: 1. The legal hotline will (when practical/appropriate) begin to email a follow up to calls/texts/conversations. CC'd in the email will be the BIC. This is to increase professionalism by harnessing the experience, education, and problem-solving of the BIC. There is [...]