South Carolina Law on SFR Security Deposits

[Buddy Holmes]

Just wondering what the law is and how folks generally do deposits.

Cheers,

Buddy

[Troy Gandee]

@Buddy Holmes It's more strict if you're licensed. If you're licensed, you absolutely must have a separate escrow account for your earnest funds and deposits. All you have to do it set up a separate checking or savings account, name is escrow or trust and DO NOT COMINGLE any funds in that account. 

It's not nearly as strict if you aren't licensed, but you should still do the above as good practice.