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.
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.
Does a listing agent have a right to see your buyer agency contract? At the moment, I can’t think of a good reason!
Many believe that an Agreement of Sale is effective the moment both parties sign it. It can be, when the parties are in the same room to witness the others’ signing. More often, however, the parties review agreements at separate locations and without knowing what the other side will do. Imagine that a buyer signs an agreement before bed and sets it on her nightstand, only to awaken at 3 a.m. so fearful of homeownership that she tears up the document. Was there ever an agreement? The answer is, like most legal answers, it depends.
There is a lot of fake news out there! And there is a lot of fake news about news that is claimed to be fake that isn’t fake. Here you will see a number of real estate transaction myths that just might be true, or not! Keep this article and one-by-one we will pick out the fake news from the real stuff. At the end of the list I’ve answered the first two questionable facts, so read on.
Time is relative so whether May 31 is fast approaching or is way far out is for you to decide. What I can tell you is that by the summer and fall of 2018, many of you will be calling for help with real estate license renewal problems. So what can and should you be doing now to avoid the potential problems that may be unfolding a year from now?
Terminating an agreement of sale falls into one of three categories: 1) termination based on law; 2) termination based on a contractual right; and 3) termination unsupported by law or contract. Most terminations are based on a contractual right to do so and most of those fall into rights granted under the mortgage contingency clause or the inspection contingencies. The document that is used to exercise a right of termination granted by the agreement is the Notice of Termination of Agreement of Sale (TER).