Property Management
A South Carolina property management agreement is a contract between the:
ATenant and the property manager
BProperty owner and the property management company✓ Correct
CSCREC and the property manager
DLender and the property management company
Explanation
A property management agreement is a contract between the property owner (principal) and the property management company (agent), establishing the scope of services, compensation, and authority.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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