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.
The “New” Due Diligence Procedure – Part 2
Though the “new” contract presents the due diligence procedure without alternatives, the parties can alter or eliminate the due diligence procedure through an addendum. As-Is …
The “New” Due Diligence Procedure – Part 1
The “new” contract going into common use on June 13th is actually the same contract Horry County agents have been using, except the “repair procedure” …
Solar Panels
Solar Panel Purchase/Lease Plans and How They’re Handled at Closing The existence of solar panels will probably not be found in a title search …
Tenant Estoppel
What is a Tenant Estoppel? A “tenant estoppel” is a document signed by an existing tenant in which the tenant acknowledges certain things about …
Electronic Signatures
Are Electronic Signatures Binding? First, let me explain the controlling law. A version the Uniform Electronic Transactions Act was adopted in South Carolina several …
Allowable v. Non-Allowable Costs
What Are FHA/VA Allowable v. Non-Allowable Costs? “Allowable” and “non-allowable” are terms unique to FHA and VA loans (also USDA, but we don’t see …
Tax Sale Deed
What is a Tax Sale Deed? A “tax deed” is issued by the Delinquent Tax Office – it is not a warranty deed and …
Seller Financing and Private Third-Party Financing Under the Dodd-Frank Act
The Dodd-Frank Act (“Act”) limits the situations in which seller-financing and/or private third-party financing may make take place. Under the Act, any person who offers …
The Vacation Rental Act (SC Code §27-50-210 et seq.)
A “vacation rental” refers to a rental period of less than 90 days in duration. Most commonly, “vacation rental” situations are weekly rentals of a …
Short-Term Rentals (Managed)
NOTE: Even though “short-term” can refer to any rental period of 90 days or less, this memo deals only with true vacation rentals in which …
Short- Term Rentals (Unmanaged)
NOTE: Even though “short-term” can refer to any rental period of 90 days or less, this memo deals only with true vacation rentals in which …
Long-Term Leases (Managed)
Things to Know: The Management Agreement will continue to control after closing. If the buyer wishes to have another company manage the property, the buyer …
Long-Term Leases (Unmanaged)
Things to Know: The buyer steps into the seller’s shoes as landlord. This means the buyer will be: a) subject to a claim by the …
Joint Ownership In South Carolina
Where there is more than one purchaser, those purchasers must decide how they will hold title. Some may wish to hold title in the name …
They Lied!! | Evaluating Fraud In A Real Estate Transaction
Some people will lie to get what they want and some of those people want you to buy their home. Over many years of legal …
Can Real Estate Agents Give Gifts To Clients?
This office has been asked about the following rumor: As with most rumors, it is followed with, “I heard about a guy …(insert tragic ending)” …
Crackdown On Fraudulent Primary Residence Exemptions
As in most places, Horry County residents enjoy a reduced property tax on their primary residence. That’s as it should be. What’s not as it …
Selling Your Vacation Home? Here’s Something To Consider.
If you are selling a vacation/rental home, there is a chance you will need to obtain a Certificate of Tax Compliance from the South Carolina …
Quiet Title
On occasion, we are asked to close a transaction in which the seller purchased the real property at a tax sale and, therefore, holds only …
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.
