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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.

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 …

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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” …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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)” …

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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 …

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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 …

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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 …

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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.

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