Many, if not all of you, are familiar with MV Realty's "Homeowner Benefit Program" that pays the homeowners a small sum of cash in exchange for what amounts to a 40-year lien on the property. This lien requires the homeowner and all future owners to use MV Realty as the listing agent for the entire 40-year term and contains stiff penalties for failing to do so. Luckily, these may be coming to the end as MV Realty made a huge move that may spell the end of this arrangement.
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* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.