More than 100,000 homeowners in Pennsylvania heat their homes with oil, meaning that their basements are homes to large, typically 150 gallons or more, heating oil tanks.
Understanding the Additional Terms Clause in the Standard Agreement for the Sale of Real Estate.
The most dangerous clause in the Standard Agreement for the Sale of Real Estate (ASR) is found in our current Paragraph 32(B), Additional Terms. Here’s where agents can let loose with the most creative use of the pen imaginable!
Of the common mistakes in residential sales, none occurs more frequently than the failure to abide by timelines, specifically those found in the inspection contingencies.
Real estate licensees and their clients must be aware of the nuances of video and audio surveillance laws to protect themselves from potential invasions of privacy, breaches of confidential information in violations of state and federal video and audio surveillance laws.
CASPA is Pennsylvania’s Contractor and Subcontractor Payment Act. It is the private industry version of the Prompt Payment Act, which applies to public projects. CASPA helps ensure that contractors and subcontractors working on commercial construction projects (or projects involving more than 6 residential units) get paid in a timely manner.
Timely tender of deposit checks is a growing problem that did not exist when offers and deposit checks were hand delivered. Now, deposit checks follow an offer’s acceptance by a handful of days.
Mistakes happen. Consider the case of listing agent Robert. Robert happened to be on vacation when he received an offer at list price. He reviewed the standard form on his cell phone and reported to the sellers that it looked great.
The first question decided by the court was whether the seller was liable for failing to deliver a Property Disclosure Statement, where the agreement included an “as is” clause. The second question was what constitutes “actual damages” as the term is used in the Real Estate Seller Disclosure Law (RESDL) to define a buyer’s remedy for breach of the statute.
The buyers’ agent claimed that this was one of two pre-settlement walk-through inspections to which the buyers were entitled. “Pre-settlement walk-through” is not defined in the agreement, but we know its purpose is to enable the buyer to assure that all conditions prerequisite to closing have been satisfied.
In news and other articles, another’s profanity is frequently replaced with “expletive deleted.” Some use the term in self-censorship. More often, we just let the expletives fly. At that moment it might feel quite good to do so; upon reflection, not so good.