It’s every property manager’s and property owner’s worst nightmare — when a tenant does malicious damage. This is why it’s important to know what the liabilities are, and what you can do to reduce your risk of a lawsuit. Not…
Document All Client Advisories about Third-Party Experts Do you advise your clients in writing to consult with third-party experts before closing? And if you do, do you document it in the client’s file? If you want to reduce your risk…
Errors and Omissions claims against real estate agents or brokers are often based on the Purchase Agreement and Sales Disclosures. Clients who feel their interests were not adequately protected often turn to filing a claim against their agent or broker…
What Is Earnest Money And Its Purpose? Earnest money, or a good faith deposit, is cash deposited by a buyer to a seller into escrow (in states that use escrow), demonstrating the buyer’s intent to purchase an offered property. Essentially,…
Seller carryback financing is when the seller of a given property acts as a lender for a buyer on the seller’s property. The end result is that the buyer signs a promissory note to the seller, for the amount of…
Buyer’s (or seller’s) remorse becomes a legal issue when the buyer or seller does not want to close after they are under contract to buy or sell. This is true for commercial, residential or vacant lot property. Documentation is critical…
Real Estate Agent Fiduciary Duties Ruling In November 2016, California’s Supreme Court affirmed the Appellate Court’s decision in Horiike v. Coldwell Banker (2014) 225 Cal. App. 4th 427. Its significance is that where a real estate brokerage is representing the…
In Colorado, new regulations were enacted regarding septic system requirements that every real estate agent and broker must know. Many other states have not yet put these types of requirements in place, making Colorado an interesting case study in the…
