Question Seems like more and more of my prospective residents have past due balances on their credit reports and outstanding collection accounts. Years back I wouldn’t even consider someone with a collection account, but if I did that now, I’d have an empty building! What do you think? Answer According to a recent study […]
A CONTINGENCY OFFER IS A LOT BETTER THAN NO OFFER AT ALL
Now that the market has slowed a bit – i.e. returned to normal— contingency offers are more common and, I would argue, more palatable than they have been during the past few years. By contingency offer I mean an offer to purchase that comes from a buyer who still has to sell his house […]
THERE’S A LOT TO CONSIDER WHEN CHOOSING A HOME INSPECTOR
Many times, in the course of reviewing transaction files, I will read that an agent has recommended to the buyer that he or she should have the home inspected by a licensed home inspector. While one has to appreciate the earnestness of such advice, it is nonetheless at least a trifle amusing. This is because […]
POLICY ON REAL ESTATE TEAM NAMES IS CLOSE TO BECOMING LAW
Assembly Bill 2018 (Bocanegra) is quickly working its way through the California legislature in Sacramento. The bill deals with the use of team names and fictitious business names in the real estate business. The bill is the result of collaborative work by The California Association of Realtors® (CAR) and The California Bureau of Real Estate […]
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT UNDERGOES THOROUGH REVISION
California’s standard Residential Purchase Agreement (RPA), produced by the California Association of Realtors® (CAR) is undergoing a major revamping. While the changes being made do not represent a radical transformation or restructuring of the nature of the agreement, there are still many, many changes. Some of them are only slight alterations in wording; others are […]
CALIFORNIA BUREAU OF REAL ESTATE ROLLS OUT “CITE AND FINE” POLICY
The Summer 2014 issue of the Real Estate Bulletin, produced by the California Bureau of Real Estate, announces that the Bureau has finalized its authority to issue citations and assess fines without first going through a lengthy, and sometimes expensive, process of administrative hearings. The details of the “cite and fine” program can be found […]
BORROWING FROM A 401(k) TO FINANCE HOME PURCHASE
According to the National Association of Realtors® 2013 Profile of Home Buyer and Sellers, 8% of first-time buyers borrowed from their 401(k) retirement accounts as a source of downpayment money. It’s a good bet that a significant number of potential first-time buyers, as well as others, are not acquainted with how this works. It’s also […]
GUIDELINES HELP IN CONSIDERATION OF PROCURING CAUSE CASES
The residential real estate business is quite competitive, and it is no surprise that from time to time disputes between agents rise to a level that calls for formal arbitration. One of the most common real estate arbitration themes has to do with claims to a commission. Generally this involves agents who have worked with […]
EASEMENTS MAY CREATE RIGHTS AND DUTIES
When an easement over someone’s land is granted, it creates rights and duties for both parties. These are not always obvious. A recent California appellate decision (Dolnikov v. Ekizian, Second Appellate District, December 10, 2013) sheds light on the principles at work. Before turning to the facts of the case, a word about the terminology. […]