Articles
Agent on the Street
We salute and serve the Agent on the Street by answering his occasional call to inquire about a unique point, address an odd wrinkle or simply do some double-checking – here he can ask questions anonymously for the benefit of other agents and whatever betterment it may bring to the real estate profession.
Allowable v. Non-Allowable Costs
Allowable V. Non-Allowable Costs By: Scott Umstead What Are FHA/VA Allowable v. Non-Allowable Costs? “Allowable” and “non-allowable” are terms unique to FHA and VA ...
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Buyer Breach of Contract
Buyer Breach Of Contract By: Scott Umstead What happens when a buyer breaches the contract? It is worth noting it is not always clear ...
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Can Real Estate Agents Give Gifts To Clients?
Can Real Estate Agents Give Gifts To Clients? By: Scott Umstead This office has been asked about the following rumor: As with most rumors, it ...
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Crackdown On Fraudulent Primary Residence Exemptions
Crackdown On Fraudulent Primary Residence Exemptions By: Scott Umstead As in most places, Horry County residents enjoy a reduced property tax on their primary residence. ...
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Deeds
Deeds By: Scott Umstead In South Carolina, there are three (3) types of deeds. Each type fully conveys the interest of the grantor (Seller); the ...
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Early Occupancy
Early Occupancy By: Scott Umstead Oftentimes, a buyer will ask a seller’s permission to occupy the home prior to the closing When an “early occupancy” ...
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Electronic Signatures
Electronic Signatures By: Scott Umstead Are Electronic Signatures Binding? First, let me explain the controlling law. A version the Uniform Electronic Transactions Act was ...
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FAQ’s – (Buyers – Due Diligence & Contract Termination)
FAQ’s – (Buyers – Due Diligence & Contract Termination) By: Scott Umstead Disclaimer: The answers below are not legal advice nor are they a substitute ...
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How the CL-100 Contingency Works
How The CL-100 Contingency Works By: Scott Umstead Confusion persists among many agents, parties and even attorneys with regard to the CL-100 “contingency.” Frankly, the ...
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Joint Ownership In South Carolina
Joint Ownership In South Carolina By: Scott Umstead Where there is more than one purchaser, those purchasers must decide how they will hold title. Some ...
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Long-Term Leases (Managed)
Long-Term Leases (Managed) By: Scott Umstead Things to Know: The Management Agreement will continue to control after closing. If the buyer wishes to have another ...
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Long-Term Leases (Unmanaged)
Long-Term Leases (Unmanaged) By: Scott Umstead Things to Know: The buyer steps into the seller’s shoes as landlord. This means the buyer will be: a) ...
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Quiet Title
Quiet Title By: Scott Umstead On occasion, we are asked to close a transaction in which the seller purchased the real property at a tax ...
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Seller Breach of Contract
Seller Breach Of Contract By: Scott Umstead A seller breach can take many forms (e.g. failure to allow inspections, failure to make required repairs, failure ...
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Seller Financing and Private Third-Party Financing Under the Dodd-Frank Act
Seller Financing And Private Third-Party Financing Under The Dodd-Frank Act By: Scott Umstead Click here to Print Article The Dodd-Frank Act (“Act”) limits the situations ...
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Selling Your Vacation Home? Here’s Something To Consider.
Selling Your Vacation Home? Here’s Something To Consider. By: Scott Umstead If you are selling a vacation/rental home, there is a chance you will need ...
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Short- Term Rentals (Unmanaged)
Short- Term Rentals (Unmanaged) By: Scott Umstead NOTE: Even though “short-term” can refer to any rental period of 90 days or less, this memo deals ...
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Short-Term Rentals (Managed)
Short-Term Rentals (Managed) By: Scott Umstead NOTE: Even though “short-term” can refer to any rental period of 90 days or less, this memo deals only ...
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Solar Panels
Solar Panels By: Scott Umstead Click here to Print Article Solar Panel Purchase/Lease Plans and How They’re Handled at Closing The existence of solar ...
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Tax Sale Deed
Tax Sale Deed By: Scott Umstead What is a Tax Sale Deed? A “tax deed” is issued by the Delinquent Tax Office – it ...
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Tenant Estoppel
Tenant Estoppel By: Scott Umstead What is a Tenant Estoppel? A “tenant estoppel” is a document signed by an existing tenant in which the ...
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The Threat of Imposter Sellers
The Threat of an Imposter Seller By: Scott Umstead Those of you who have been in the real estate business for a few years remember ...
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The Vacation Rental Act (SC Code §27-50-210 et seq.)
The Vacation Rental Act (SC Code §27-50-210 Et Seq.) By: Scott Umstead A “vacation rental” refers to a rental period of less than 90 days ...
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The “New” Due Diligence Procedure – Part 1
The “New” Due Diligence Procedure – Part 1 By: Scott Umstead The “new” contract going into common use on June 13th is actually the same ...
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The “New” Due Diligence Procedure – Part 2
The “New” Due Diligence Procedure – Part 2 By: Scott Umstead Though the “new” contract presents the due diligence procedure without alternatives, the parties can ...
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They Lied!! | Evaluating Fraud In A Real Estate Transaction
They Lied!! | Evaluating Fraud In A Real Estate Transaction By: Scott Umstead Some people will lie to get what they want and some of ...
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When the owner of real property dies, how can the property be sold?
When The Owner Of Real Property Dies, How Can The Property Be Sold? By: Scott Umstead When a property owner dies, the property can certainly ...
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Agent on the Street
We salute and serve the Agent on the Street by answering his occasional call to inquire about a unique point, address an odd wrinkle or simply do some double-checking – here he can ask questions anonymously for the benefit of other agents and whatever betterment it may bring to the real estate profession.
