Errors and Omissions claims against real estate agents or brokers are often based on the Purchase Agreement or Seller Disclosures. Clients who feel their interests were not adequately protected often turn to filing a claim against their agent or broker…
Misrepresentation is among the most common claims made against real estate agents. It seems pretty obvious that you shouldn’t misrepresent the property you want to sell, but it isn’t always as simple as that. Let’s look at three kinds of…
What Is Earnest Money And Its Purpose? Earnest money, or a good faith deposit, is the initial cash deposited by a real estate buyer to a seller (either into escrow or held by the broker), demonstrating the buyer’s intent to…
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…
The purpose of the Real Estate Settlement Procedures Act (RESPA) is to prevent abusive settlement charges that plagued this country’s real estate industry in the past — and led to the “Great Recession” in 2008. The key provision under RESPA…
