This is a guide for Sellers and Buyers when selling or buying real estate. It is a great tool to educate you about the selling or buying process and also includes information on the real estate closing. State specific information about certain issues is included with the package.
South Carolina LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate
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FAQ
Dual agency is when a single real estate agent represents both the buyer and sellers in a real estate transaction. Designated agency occurs when a buyer and seller are represented by two agents at the same brokerage.
South Carolina allows real estate licensees to serve as dual agents in real estate transactions. South Carolina Code §40-57-137(M)(1) states that a licensee may act as a disclosed dual agent only with the prior informed and written consent of all parties.
Closing Costs can be paid by three separate parties in the transaction the buyer, the seller and the Lender, or a combination of the three.
The state of South Carolina requires an attorney to be present at the closing of a real estate transaction and has issued extensive best practices guidelines.
South Carolina law requires the buyer to hire a lawyer to perform a title search before purchasing a house (see State v.Mortgage companies usually require the buyer to purchase a title insurance policy as a condition to funding the loan.
As a dual agent, the real estate broker does not owe undivided loyalty to either the seller or buyer.If the buyer has previously signed Consent for Dual Agency, the buyer must affirm the buyer's consent for the purchase of a particular property before an offer to purchase is presented to the seller.
The short answer is yes, you can work with multiple real estate agentsunder certain circumstances. Working with more than one real estate agent is fine when you haven't signed an exclusive agreement with anyone, says Adam Aguilar, a Realtor® with Reliantra in West Toluca Lake, CA.
Dual agency can also streamline the transaction process, whether you're the buyer or the seller. With one fewer agent in the mix, scheduling various events can be more manageable. This can make a transaction proceed faster. You could also potentially save some money, particularly if you're the seller.
Scope Out the Competition (Be A Nosey Neighbor) Give South Carolina Buyers What They Want. Analyze South Carolina's Real Estate Market Data for a Correct Listing Price. Make Sure Your Real Estate Photographs Don't Suck.