Rejecting an Offer Under the New Law

by | Aug 26, 2016 | Legal Tips

Under section 40-57-135(I)(5) of the Real Estate Brokers, Salespersons, and Property Managers Act that becomes effective January 1, if an offer or counteroffer is rejected without counter, an “Offer Rejection Form,” created by the Commission, must be signed by the real estate agent affirming that the agent presented the offer to their client. The form must be returned by the agent to the offeror.

This provision comes as a result of multiple complaints to the Commission that agents were not presenting offers. The form is unnecessary as agents are already required by law to present all offers to their client. I assume the Commission felt that an agent who did not present the offer might think twice before signing the form if they have not actually presented the offer. The counter argument is if the agent was willing to lie about presenting the offer in the first place, will the form actually change their behavior? The form seems to be another example of passing a new law instead of enforcing the law that already exists.

Historical Facts- As the Columbia Fireflies completes its very successful inaugural season of baseball, we look back at some of the greatest baseball players from South Carolina. Larry Doby was born in Camden on June 13, 1923. Larry was the second player to break the color barrier in Major League Baseball and was the first African-American player in the American League when he signed to play with the Cleveland Indians. Larry was a 7 time All-Star center fielder and the first African American to win a World Series. He was the runner up to the AL Most Valuable Player in 1954 when he led the AL in RBI and was the Home Run Champion. Larry also played for the White Sox and Detroit Tigers. He was elected to the Baseball Hall of Fame in 1998. Larry died in 2003.  Larry Doby was a true baseball great and an American hero.

Photo by hang_in_there

Call Now Button