Changes in the New SCR Form 310 (03/2026)

1️⃣ The New Due Diligence System
This is the biggest structural change in the contract.
The new form introduces a formal Due Diligence Period with a defined termination fee.
Key language:
  • Buyer may terminate for any reason or no reason during the due diligence period.
  • If terminated for due diligence reasons, the buyer must pay a termination fee to the seller.
Example language:
  • “During the Due Diligence Period the Buyer may conduct any inspections and may terminate for any reason or no reason.”
  • “Should the Buyer terminate during the Due Diligence Period for Due Diligence reasons they will pay Seller a Termination Fee.”
Also spells out what does NOT fall under Due Diligence:
Should the Buyer terminate under a different contractual contingency (Financing, Appraisal, CL-100, Sale of Buyer Property, etc.) the Termination Fee will not be owed. A Termination Fee is only owed if the Buyer terminates during the Due Diligence Period for Due Diligence Reasons

2️⃣ Repair Negotiations Are Now Structured
Under the new form:
By the Due Diligence Deadline, the buyer must choose one of four options:
  • Accept property AS-IS
  • Negotiate repairs with SCR Form 525
  • Use attorney-drafted remedies
  • Terminate and pay termination fee
Key difference from prior contract previously:
  • inspection response periods
  • repair negotiations were looser
  • Now there is a hard deadline structure.

3️⃣ Automatic AS-IS if Buyer Does Nothing
Another major shift.
If the buyer fails to negotiate repairs or terminate by the Due Diligence deadline, the contract automatically becomes AS-IS regarding repairs specifically. Not AS-IS for the contract as a whole. 
That language did not exist in this format before.
Agents must track:
  • due diligence deadline
  • repair negotiation deadlines
Or the buyer loses leverage.

4️⃣ Transaction Cost Section Expanded
 The new contract clearly defines buyer vs seller transaction costs.
It explicitly lists examples like:
  • title exam
  • lender costs
  • inspections
  • broker compensation
  • deed stamps
  • attorney fees

5️⃣ Buyer Broker Compensation Language
 The contract now references:
SCR Compensation Agreement Form 120 (Seller to Buyer Broker)
inside the attachments section.
This aligns the contract with:
  • buyer representation agreements
  • buyer-broker compensation disclosures

6️⃣ Earnest Money Disbursement Language Expanded
The new contract adds more rigid escrow procedures. (Just stronger verbiage.)
Earnest money cannot be released unless:
  • both parties sign a release
  • mediation agreement
  • court order
 
Why this matters
It protects brokers acting as escrow agents.

7️⃣ Financing Section Expanded
The financing section now requires:
  • buyer to apply by a specific date
  • buyer to deliver proof of pre-approval
  • buyer to disclose lender information
  • notice if lender changes
NEW CLAUSE:
"Buyer cannot change lender if the closing date agreed upon in Paragraph 4 will change as a direct result."
 

8️⃣ Inspection Rights Clarified
The new form adds clearer language about:
  • licensed inspectors
  • utility connection during inspections
  • buyer indemnifying seller for damages during inspections

9️⃣ HOA Special Assessment Allocation
The contract now includes two selectable options for:
  • special assessments approved before closing
Option examples:
  • Seller pays entire balance
  • Seller pays only year-of-closing portion
This section did not previously exist in this format.

🔟 Notice and Delivery Language Expanded
The contract clarifies how notice works.Notice must be:
  • written
  • delivered to designated email or address
  • acknowledged by broker awareness of receipt

1️⃣1️⃣ New Legal / Risk Disclosures
The new contract includes:
  • wire fraud warnings
  • surveillance warning
  • stronger recommendation for legal counsel

1️⃣2️⃣ Appraisal Procedure Updated
New language now gives the seller the first opportunity to resolve a low appraisal.
If the appraisal comes in below the purchase price:
  • seller may deliver notice within 5 calendar days or before closing (whichever is earlier)
  • seller can amend the contract reducing the purchase price to the appraised value
  • parties then proceed to closing under the amended price
New implication:
a low appraisal does not automatically give the buyer the right to terminate
if the seller matches the appraised value, the contract continues.
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Summerville, SC 29483, US