South Carolina Real Estate Salesperson Exam — All Questions
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Under the South Carolina Residential Property Condition Disclosure Act, the seller of residential real property must generally:
- a.Provide a title insurance policy to the buyer
- b.Obtain a professional home inspection before listing
- c.Furnish the buyer a completed property condition disclosure statement✓
- d.Guarantee the property is free of all defects
South Carolina's Residential Property Condition Disclosure Act (Title 27, Chapter 50) requires most sellers of residential property to give the buyer a completed disclosure statement describing the known condition of the property. The law does not require the seller to inspect or to warrant the property, but it does require honest disclosure of known conditions on the state form.
Earnest money a South Carolina salesperson receives from a buyer must be:
- a.Delivered to the broker-in-charge for deposit in the firm's trust (escrow) account✓
- b.Held by the salesperson in a personal account until closing
- c.Sent to the Real Estate Commission for safekeeping
- d.Given directly to the seller when the offer is made
Client money such as earnest money must be handled through the firm's trust account, which the broker-in-charge maintains. A salesperson who receives funds must deliver them promptly to the broker-in-charge, and trust money must be kept separate from personal and business funds. Commingling or misusing trust money is a serious violation of South Carolina license law.