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Submission  Deadline

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The number of real estate questions I answer daily often surprises me. While teaching a CE class, I asked licensees who would they call to answer their real estate questions. A student shouted, “We would just Ask Vonnie!”

Let's grow our real estate knowledge together on this platform. Questions submitted may be featured in our upcoming issue.

Submission Deadline: May 31

Ask Vonnie!

Commonly Asked Questions: SC's New Sales Contract

2.

Q

When is the effective date of the new South Carolina's purchase agreement?

A

1.

June 13, 2022

1.

Q

A

Since the SC's purchase agreement has a due diligence clause, is the appraisal contingency automatically waived?

2.

No, the appraisal contingency clause is still a term in the contract that the buyer and seller may negotiate.

Q

3.

Is the due diligence fee payable to the seller upfront?

A

3.

No, it’s only paid if the buyer cancels the contract during the due diligence period.

Q

4.

What if the sellers refuse to make repairs or ignore the buyer's repair requests?

A

4.

A buyer may accept the home as-is or pay the due diligence fee to terminate the contract.

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