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South Carolina Code §40-57-135(E)(1) states that, "A licensee may not advertise, market, or offer to conduct a real estate transaction . . . without first obtaining a written listing agreement between the property owner and the real estate brokerage firm with whom the...

By now many of you have heard the horrific news from Woodruff, South Carolina about the heinous crimes of real estate agent, Todd Kohlhepp. Kohlhepp, the owner of TKA Real Estate, was arrested last week after authorities found a woman "chained-up like a dog" inside a...

This week we continue to examine agency as it is used under the new S.C. Code§ 40-57-5 et seq. (Law effective January 1, 2017). Section 40-57-350(C) holds that at the time of first substantive contact with the consumer, it is presumed that a potential buyer or seller...

If your real estate license expires June 30, 2017, the Real Estate Commission just ruled that you fall under the existing state law for continuing education. This means you will only have to complete eights hours of continuing education this year. Of the eight hours,...

As of October 28, 2016 the following Midland's Counties have issued tax bills: Richland   Lexington   Kershaw Remember that once issued, ad valorem taxes must be paid at closing if not previously paid even if the seller escrowed taxes.  Any excess money that the...

Over the next few weeks we will examine "agency" as it is used under the new S.C. Code 40-57-5 et seq. (Law effective January 1, 2017). Section 40-57-370 (A) addresses the licensee's requirement of brokerage disclosure. The statute says the licensee shall provide at...

When working with a client the real estate agent has a duty of confidentiality. This duty survives even after the relationship has ended or otherwise terminated.  The Real Estate Commission takes this duty very seriously as should the real estate agent.  A licensee...

It is that time of year again that we all dread. Several counties in South Carolina have issued the ad valorem tax bills for 2016. Once the tax bill is issued by a county it becomes due and payable. The tax bill is past due on January 15, 2017. The issuance of the tax...

A common scenario we see in real estate concerns divorced Sellers. For example, a husband and wife own property together; both are on the deed. The couple later divorces and the Divorce Decree states that the wife is to receive the real property.  A year or so passes...

One of the most misunderstood aspects of a real estate transaction is lender's title insurance. Many lenders, agents and even some attorneys wrongly advise the buyer not to purchase an owner's title insurance policy because the lender has a lender's title insurance...

Have you ever been at a closing and the attorney says that we we are done signing but we do not have the funds to disburse? Then the client says, "I sent the wire an hour ago, is there a problem?" Because a closing attorney cannot disburse the closing until the funds...

Over the past few months we have discussed issues with cyber fraud and how it affects real estate closings. Here is a real example of an attempted fraud at a law firm in the low country that was thwarted by a smart paralegal. She writes: I received an email from...