The past few weeks I have talked about issues that have arisen with earnest money since the Commission's ruling on Earnest Money. While your brokerage may not be holding Earnest Money, your problems have not all gone away. SC Code §40-57-136(B)(4) is the latest example of Earnest Money Issues. Watch this video to learn more. Keywords: Earnest [...]
The 2017 rewrite of the real estate law imposed a limited duty of confidentiality on the real estate agent when learning certain information from a customer. Are you violating this statute? Keywords: Limited duty of confidentiality, South Carolina Real Estate Code §40-57, customer duties, client vs. customer, OLD CAR Duties.
Here is a short video from New Orleans on cash closings. Cash closings have the same amount of legal work as a loan closing. Here is some information on scheduling cash closings and when funds will be disbursed. Keywords: Cash closings, title work, abstracts, closing time frames, disbursements, end of month closings.
During the summer months it is not unusual for one of the parties to not be able to attend closing. Often this is handled through a Power of Attorney. Many times, however, it is handled through a "mail-away" closing. Here is a short video on important information on how we disburse mail-away closings. Keywords: Mail-away closings, [...]
Watch this short video on four legislative matters that affect how you as a real estate agent operate your business. Two matters are helpful to you and two you should worry about. Keywords: VA Cap on loan amount, White House Counsel on Eliminating Barriers to Affordable Housing, RESPA Violations and Desk Rentals, NY Sets Limits [...]
You would be amazed how many people come to closing without a picture ID. A closing attorney cannot cut your commission check without a picture ID from both the buyer and seller. Listen to this short video on tips to making sure your commission is not delayed because of an ID. Keywords: identification, picture [...]
An attempted wire fraud this week that could have lost someone $153,000! Play this video to see how someone can easily steal money from you and ways to protect yourself and your client from these hacks. Keywords: Wire fraud, email hacked, agent's email, wire fraud prevention, wire fraud wire, wire fraud in [...]
I received a ton of comments and stories from other real estate agents who also have seen wire fraud attempts. Wire fraud is a very prevalent matter. Watch this short video on more ways to protect yourself from becoming victim to wire fraud or being sued by someone who is. Keywords: Wire fraud, email [...]
It seems like less and less Sellers can attend closing. We had this happen twice this week and luckily the closings were not delayed. However, disbursement was delayed for almost a week on one closing! Watch this short video on how to avoid delays due to the Seller being out of town. Keywords: Out [...]
For some reason our industry thinks speed is the answer to everything. How quickly can we close? That is as crazy as closing at the end of the month. Why do we continue to do this to ourselves? And by the way, some lenders are now sending out emails to agents saying not to send [...]