1. Be very nervous about rescission working or not working.

Alert the client about the legal risks of rescission working or not working.

For a buyer with the option to use SCR310 due diligence even after a failed rescission procedure, that makes the risks of a failed rescission less since the buyer could properly terminate a contract.

2. Recommend the client obtain legal counsel ASAP prior to communicating/acting on rescission due to the legal risks involved if the rescission does not work.

Contact SCR legal 803-772-5206 for information to help.

3. Simultaneously and ASAP, telephone a human being on the receiving end (e.g., the agent or the agency BIC) and the first words spoken "My client Byron King rescinds his offer sent on 3780 Fernandina Rd Cola SC." Simultaneously, courier/drive and fax and email and text the agent and the agency BIC with "My client Byron King rescinds his offer sent on 3780 Fernandina Rd Cola SC."

Keep calling and speak to a human being. Voicemails can be missed.

Keep records of your actions and timeline.

Be aware of times and dates and holidays when it will be more difficult to communicate a rescission and try to rescind on times and dates and business days that maximize the ability to properly effect a rescission.

4. WARNING: failing to properly communicate the rescission of the offer to the other side can allow the other side to properly accept the offer and create an enforceable contract. Breaching an enforceable contract can involve legal action.

5. Recommend to your client: Consider not entering another contract until the rescission is very legally reliable as being perfected per the client’s trial lawyer. Perhaps, follow up with a properly executed release SCR518 to make the deal more certainly unenforceable before entering another contract/offer on another property/party.

6. All your recommendations are both verbal and email (for your records).

Posted by: Byron King on 10/25/23 (This information is only accurate as of 10/25/23. You must contact SCR for updates and changes to this information after 10/25/23 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.