by alex a | May 29, 2015 | Legal Tips
If you are working with an out of state seller please be mindful that the Department of Revenue requires the closing attorney to withhold 7% of the net proceeds or of the gain, whichever is smaller. There are several exemptions to the withholding requirement. The most...
by alex a | May 22, 2015 | Legal Tips
Agents often ask does the seller need to update the Seller Disclosure form when a contract is cancelled due to items listed on the inspection report. South Carolina law holds that if the owner discovers after delivering the disclosure statement a material inaccuracy...
by alex a | May 15, 2015 | Legal Tips
For some reason there is a mistaken belief in our industry that you are required to disclose that you have received multiple offers on your listing. In fact, you may not disclose that you have received multiple offers to a potential buyer or real estate agent without...
by alex a | May 7, 2015 | Legal Tips
Surprisingly, I continue to have calls and complaints about agents who do not present offers to their seller-client. You are required by law to present ALL offers and counteroffers in a “timely manner” even when the property is subject to contract. Here is a list of...
by alex a | May 1, 2015 | Legal Tips
In order to release earnest money, state law requires a signed release, a court order or mediation. This law protects the real estate agent from becoming embroiled in the dispute since the agent cannot choose sides and release the money. It is best practice to not...
