All Offers are to be in Writing

Are you guilty of a possible license law violation?

Let’s check and see!

SC Real Estate License Law Section 40-57-135 (H) states:

  • (H) With regard to offers to purchase real estate, a licensee shall: (1) upon receipt, prepare all offers in writing and promptly present them to the seller;

Have you been presenting oral offers?  Text offers? Email offers? Not using a written document in compliance with the law?  If the answer to that is “yes”, a complaint could be made to LLR and you could be found guilty of a license law violation.  This could result in a fine, a public reprimand, requirement for more education, or any number of other options.

Why take a chance?  Put all offers to and from the parties in writing as instructed by the law.  Even if the buyer refuses to make a written offer, YOU as the licensee are required to submit the terms and conditions given to you in a written document.

In addition, the law also states in 40-57-135 (I) (4) that it is the duty of the BIC to see that the associated licensees comply with the rule.  It states

  • (4) The broker-in-charge shall ensure that associated licensees prepare all offers and counteroffers in writing, have them dated and signed by the offerors, and promptly present them to the offerees or the offerees’ representative and ensure that: (a) changes or modifications made during negotiations are in writing and initialed and dated by both parties before proceeding with the transaction; (b) all of the terms and conditions of the transaction are included in the offer to purchase; and (c) if associated licensees obtain a written acceptance of an offer or counteroffer, true, executed copies will be promptly delivered to all parties.

The word SHALL is used in both citations.  This means that you WILL, not that you may, comply. This is not new in license law, and non-compliance is not an option.

Comply with the law and place all offers in a written document before presenting them to the seller or seller’s agent.  Remember that the purpose of the law is to protect the public.  Only by having all offers in writing is the public truly protected from misunderstandings as to the actual offer.  Don’t risk it! Comply with the law.