SC Form 310 Agreement/Contract: to Buy and Sell Real Estate (Residential) 2020-2024 free printable template

AGREEMENT TO BUY AND SELL REAL ESTATE RESIDENTIAL 1. PARTIES This legally binding Agreement entered into on between Buyer s hereinafter called BUYER and Seller s property shall be deeded in the name s of 2. All escrow money received shall be deposited as required by South Carolina law and South Carolina Real Estate Commission Rules and Regulations. At the consummation of this sale the earnest money deposit shall be credited to the Buyer. THE PARTIES UNDERSTAND THAT UNDER ALL CIRCUMSTANCES...

How to fill out sc real estate contract

How to fill out sc real estate contract

1. To fill out an SC real estate contract, follow these steps:
2. - Begin by entering the date of the agreement at the top of the contract.
3. - Identify the parties involved in the transaction, including the buyer, seller, and their respective contact information.
4. - Describe the property being sold, including the address, legal description, and any additional details.
5. - Specify the purchase price and payment terms, including any down payment or financing arrangements.
6. - Outline any contingencies or conditions that must be met for the contract to be valid, such as property inspections or loan approvals.
7. - Disclose any known defects or issues with the property.
8. - Include any additional provisions or agreements that both parties have agreed upon.
9. - Sign and date the contract, ensuring that both the buyer and seller have copies of the signed agreement.
10. - It is recommended to have the contract reviewed by a real estate attorney before finalizing.
11. - Keep a copy of the contract for your records.

Who needs sc real estate contract?

1. Anyone involved in a real estate transaction in South Carolina needs an SC real estate contract. This includes both buyers and sellers of residential or commercial properties.
2. Real estate agents, brokers, and attorneys handling real estate transactions also need to utilize the SC real estate contract to ensure a legally binding agreement is in place.
3. By using the SC real estate contract, all parties involved can establish clear terms and conditions for the sale or purchase of a property, protecting their rights and minimizing potential disputes.

• Who needs a 310 Form?
• What is the purpose of the Agreement?
• What other documents must accompany the Agreement?
• • When is the Agreement due?
  • What sections of the Agreement should be completed?
  • What do I do with the agreement after its completion?

Who needs a 310 Form?

The Agreement to buy and sell real estate residential is used by the individuals who want to buy or sell the real estate property in South Carolina. It’s a legally binding contract between two parties.

What is the purpose of the Agreement?

The Agreement to Buy and Sell Real Estate Residential determines the basic conditions of buying and selling the real estate property: purchase price, method of payment, closing costs, condition of property, etc. One can also find the information about the Buyer and the Seller in this Agreement.

What other documents must accompany the Agreement?

The copy of the HUD-1 form should accompany the agreement. The Parties may require other supporting documents of there is a need: Loan Approval, FHA Mortgage Insurance, and others.

When is the Agreement due?

The Agreement comes into force on the date of its signing by both Parties and their representatives. The estimated time for completing the Agreement is thirty minutes.

What sections of the Agreement should be completed?

The Agreement to Buy and Sell Real Estate Residential has the following clauses for completion:

• Parties: information about the Buyer and the Seller of real estate

• Property to be sold

• Terms of conveyance

• Purchase price

• Method of payment

• Earnest money

• Loan processing and application

• Home protection plan coverage

• Expiration of offer

• Extension agreement

• Adjustments

• Non-resident tax

• Risk of loss or damage

• Default

• Condition of property (inspection, disclosure statement, maintenance, wood infestation report)

• Appraised value

• Coastal tidelands and wetlands act

• Contingencies

The Parties and their representatives must also date and sign the Agreement.

Each page of the agreement also has the field for the Buyer’s and Seller’s initials.

What do I do with the agreement after its completion?

The Parties complete and sign the Agreement in two copies: one for the Buyer and one for the Seller. These copies are kept for further reference.

Video instructions and help with filling out and completing sc real estate contract

Instructions and Help about sc purchase agreement form

Hello everybody welcome to class again I got Kristen and Pam here with me Pam's from Virginia Kristen you're from Texas right correct I remember you guys from last time, so this is great you guys are here because we could follow up on a lot of concepts that we did last time in our last sessions you're going to see a lot of them connected so just to quickly review a few things um we're here to learn about real estate passed the exam is what we want to do right yay passed the exam yeah yeah hey okay and just to review as well from our last class for people who are watching this on video this should be a key part of your studying plan anybody says just do one thing all you need to do is come to class all I need to do is watch my videos all you need to do is to practice questions or the flashcards is a liar do not rely on one thing so that you could make money and start selling real estate the specifics and the details really should be nailed out, and you do those practice questions but by sitting here through this webinar you will get a better idea of the bigger picture because if you're just doing the practice questions sometimes it's hard to fit them in, and it makes it almost more confusing as it doesn't really make sense but if you have a good foundation than everything kind of falls into place very nicely our rules from yet last time use the mute button appropriately you guys know if there are kids or family or dogs behind you sneak it up we'll pause for questions and stay on focusing on past exam and remember I'm not a lawyer okay you guys ready yeah overlaps thing I forgot and if you like what we do don't forget to say side nice on my LinkedIn profile LinkedIn comm slash Joe Tudor okay so what we wanted to do today was contracts and government powers but when I was looking today at preparing this lesson I realize there's a good amount we could go over with contracts, so we may not get to government power but if that's really important to you, I'm happy to review it, but I really wanted to stay focus on contracts today because that's a central part of real estate and a huge part of your exam so let's start with this do you guys know the four centrioles of a valid contract all right so the first one we got here you guys read it for me about capable your parties like right here yeah evil parties good second one where's this awful object waffle object third one it's a kind of information most important one there that's why we're doing this we don't want to be poor right Hey and offer an offering acceptance there you go we got to know those four essentials of a valid contract you should be able to say it like blindly cable pardons lawful logic consideration offer and acceptance cable parties lawful object consideration offer an acceptance after an acceptance could sometimes we call meeting of the minds mutual consent but either way it means the same thing you want it I want it great high five we're good to go okay, so you've got to have those...

People Also Ask about sc real estate contract

What information is a South Carolina sales agreement required to include?

These conditions will include the closing date, purchase price, financing terms, and expiration date by which both parties must agree to the conditions. Ownership of the property can only be transferred legally if both the seller and buyer agree to the prescribed terms and sign the contract.

Are real estate commissions negotiable in SC?

First, commission is always negotiable, so the amount that a real estate agent gets is a result of what the seller and the brokerage agree upon. And second, the commission in a South Carolina real estate sale is typically split several ways — meaning you won't get it all for yourself.

How do you negotiate down real estate commission?

Consider the market and season In building your case for a reduced commission, evaluate the current real estate market in your area. In a red hot seller's market, listing agents may be more likely to negotiate a lower commission, as your home is likely to sell quickly without much work on the agent's part.

Is a real estate commission is always negotiable?

Realtor fees are technically always negotiable, regardless of what an agent or broker might tell you. But your ability to negotiate a lower rate — and how much lower — depends on a variety of factors, including your property, demand in your area, the agent's relationship with their brokerage, and the current market.

Who makes up the South Carolina Real Estate Commission?

The SCREC is made up of seven elected members who actively engage in real estate professionally, and two public members, appointed by the governor, who do not practice real estate. A tenth at large member is appointed by the others.

How much does a South Carolina real estate license cost?

How Much Does It Cost to Get a South Carolina Real Estate License? Course Tuition$135.00 - $500.00Fingerprinting & Background Check Fees$43.05Application Fee$90.00Examination Fee$62.00Total$350.00 - $800.00

What is the relationship between Screc and the Scllr?

The key difference between the two departments is that the SCREC is specific to real estate professions, including real estate agents, brokers, and property managers, while the SCLLR oversees all professional licensing within the state (which includes occupations like nursing, accounting, and cosmetology).

What is the duty of the South Carolina Real Estate Commission?

The Real Estate Commission regulates Real Estate Brokers, Salespersons and Property Managers and administers the registration of timeshare Projects and out-of-state subdivided land sale's being marketed in the State of South Carolina.

What do you have to make on the SC real estate exam?

After meeting the education and/or experience requirements, pass the real estate licensing examination. You must earn a score of 70% or higher to pass.

How much does it cost to renew your real estate license in SC?

South Carolina Real Estate Renewal Cost StatusReal Estate SalespersonReal Estate BrokerRenewal Cost Online$45$55In-Office or Mail Renewal Cost$45$55Late Penalty Fee (per month after expiration)$15$15Total Cost$45 – $135$55 – $145 Mar 17, 2023

What is a passing score on the SC real estate exam?

A passing score for the South Carolina Real Estate Salesperson Exam is 56/80 on the National section and 28/40 on the State section. Immediately after completing your exam, you will receive a scoring document that states whether you passed or failed.

What is the South Carolina Real Estate Commission authorized to do?

The Real Estate Commission regulates Real Estate Brokers, Salespersons and Property Managers and administers the registration of timeshare Projects and out-of-state subdivided land sale's being marketed in the State of South Carolina.

What is the state portion of the real estate exam in South Carolina?

There are 120 questions on the South Carolina real estate salesperson exam. The National portion has 80 questions and that state portion has 40 questions for a total of 120 points.