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Manny Bermas

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Notes on Real Estate matters.
By Manny Bermas   
Rated "G" by the Author.
Last edited: Sunday, July 03, 2011
Posted: Sunday, July 03, 2011

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Notes on various Real Estate information in South Carolina

  • Deed Recording Fees on Equity = $1.85 per $500.
  • Investment Assessment Rate          = 6%
  • Owner-occupied Assessment Rate =  4%
  • Cash or Certified Check Down Payment for Earnest  Money  = Deposit in Escrow Acct. within 48 hours , excluding Sat., Sun., and Bank holidays, after RECEIPT.
  • Other than Cash or Certified Check payments = Deposit in Escrow Acct. within 48 hours excluding Sat, Sun and Bank holidays after RATIFICATION, (after acceptance of the offer by both parties).
  • Listings must have a definite termination date.
  • If a Broker is convicted, he must report it within 10 days to the SC Real Estate Commission.
  • Deposit Slips & other documents must be kept for five years.
  • A seller can accept an offer as a "back-up offer" with the offeror's approval.
  • An individual can file a complaint with the SC Human Affairs Commission within 180 days. The HUD will hear complaints submitted within 12 months.
  • Security Deposit must be returned to the tenant with in 30 days.
  • If tenant's whereabouts are unknown, the landlord can declare abandonment on the 15th day.
  • Landlord may terminate a Rental Agreement if tenant fails to pay rent within 5 days.
  • Landlord may increase rent for good reason  after term of lease expires.
  • The Landlord may terminate a month-to-month lease with a 30 days notice.

 

 

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