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Matt Nocks • June 24, 2022

New Contract for South Carolina

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So, the contract that we all have been using to buy and sell residential real estate in SC has changed as of June 13. The forms and contracts committee has been reviewing and revising the current contract that we have been using for the last several years. I’m also grateful to have one of the instrumental people on the forms committee as our CEO.  This change is here, so we all need to be prepared to use it, and understand how it affects you as a buyer or seller. 

 

The biggest change to note is the removal of the inspections and repair process, and changing it all to a due diligence process.  A main idea behind it is that contracts should stay together more often than not with that process, and should not fall apart with negotiations on repairs, as it can/could with an inspection/repair process.

 

With due diligence, the buyer has at minimum a termination fee at stake if they decide to walk away before the end of the due diligence period. They can inspect as much or as little as they want in that period, make repair requests if they choose to, but the seller doesn’t have to do them if they don’t want to. They could take the termination fee and put their house right back on the market. 

 

There is of course more to all of this, and the important take away is to be ready for it, and understand how it affects your strategy as a seller or as a buyer. The termination fee has existed for due diligence contracts now, so that part is not new. Really knowing what your offer says to the other side to land the contract is the crucial part. Feel free and reach out to me for more on it!

-Matt

The Best Black Friday is Coming!

By Matt Nocks • October 28, 2022
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SCHOOL IS BACK!!!

By Matt Nocks • August 26, 2022
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I did a thing! Or maybe it should say we? - No ‘I’ in Team, right?

By Matt Nocks • July 28, 2022
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The Network

By Matt Nocks • May 17, 2022
The Network A few weeks ago I went to a Sotheby’s international Realty networking event called the Ski NE. One of our brokers in charge and I were supposed to go to a different event out west back in the fall, but a goose hitting the plane pretty much derailed that whole trip. So we were going on the next one that would work for our schedules, which to both of our liking was out in Big Sky Montana, a skiing and networking event. We wanted to make sure that we didn't end up with something like the previous trip affecting this one, so we safely book ended travel days on it, and to include an additional ski day for us. After day one of skiing, we met up with our Sotheby’s group that evening and enjoyed a happy hour and mixer. From the beginning of that happy hour to the end of the event, I met about 150 different Sotheby’s International Realty agents in markets other than the upstate of SC. From Telluride, Lake Tahoe, Scottsdale, all the way up the California coast and around Seattle, Montana, Boston, and down in Orlando with smatterings in between. They were of course valuable takeaways from different panels, and different conversations with individual agents over the days there, but it was interesting and reassuring to see how high the standard for Sotheby's International Realty is everywhere. The small world experience of it is I was sitting next to an agent I had been emailing with in Boston, regarding an upcoming listing, and here we were sitting next to each other at Sushi restaurant at the town center in Big Sky, Montana!  I also spoke about the Upstate of South Carolina market to that group, who some had no idea about what all Greenville in the surrounding areas have to offer. If you could live and work anywhere, why not here!? Great experience, great people, amazing network!

Guardians of the Pond

By Matt Nocks • March 24, 2022
Hi all, So I get asked a lot of questions from friends, clients, and just people who know that I am an agent about various topics and things that come up in real estate. Whether it is: do you know a good lender? What do you think of this market?, or just an interesting feature or funny home showing experience, I am going to post about them here periodically. I am going to aim for a biweekly post, whether long or short. So be on the lookout, and I will also have a link in my monthly e-newsletter to it. I am going to start with something short on the lighter side: I was on a listing appointment sitting down with the sellers talking through the details, and what was being conveyed with the home and property. There is a private stocked pond on this one with a handful of ducks, and on the list of items that convey, will be those ducks. They aren't basing any future home purchase on the livelihood of their feathered friends, and want to make sure the future owners know those guys will be long lived "guardians of
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