Broker X was listing a property for rent. His agreement with the owner stated that the fee for successfully obtaining a tenant would be an amount equal to one month’s rent. A tenant was procured and at the signing of the lease Broker X told the tenant to write two checks –...
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Tags: Legal Issues, standard forms
Posted in Legal Issues | 5 Comments »
Since the passage of the Affordable Care Act in March 2010, individuals and groups on all sides of the healthcare issue have been responding to various provisions included in the new law and regulations. Unfortunately, not all of the claims about the law have been accurate, making it difficult for those who really want...
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Tags: Legal Issues, NAR, sales tax, transactions
Posted in Legal Issues | 8 Comments »
The Real Estate Seller Disclosure Law requires that sellers inform buyers when the disclosures are “rendered inaccurate prior to final settlement as a result of any act, occurrence or agreement.” If a home was flooded or otherwise damaged after sellers originally filled out their disclosure form, they need to go back and amend the...
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Tags: disclosure, property, Seller’s, Statement
Posted in Legal Issues, Standard Forms | 5 Comments »
What do you do if you’re involved in a transaction with a home that was just flooded? If you’re working with a seller or buyer in a transaction involving a flood-damaged property, a thorough knowledge of the PAR Agreement of Sale will help you to properly represent your client.
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Tags: agreement, agreement of sale, home, housing
Posted in Association News, Legal Issues | 1 Comment »
Along with forbidding misrepresentations by a broad group of entities, including real estate agents and brokers, the rules also impose a new recordkeeping requirement that could affect the daily business practices of many Realtors®.
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Tags: acts, advertising, mars, mortgage, practices
Posted in Industry News, Legal Issues | 3 Comments »
When you take a picture you automatically have a copyright for the picture. That copyright covers a “bundle” of rights that you can control. You can give away some of the rights, sell some of the rights or just keep them all to yourself. If you’ve ever used a photograph with a Creative...
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Tags: creative commons, photography, photos, rights, Terms of Service, the cloud
Posted in Industry News, Legal Issues | 6 Comments »
Recent changes to the Manufactured Home Community Rights Act affect Realtors® and transactions involving manufactured homes (also known as mobile homes).
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Tags: fee disclosures, manufactured homes, mobile homes
Posted in Industry News, Legal Issues | 2 Comments »
A recent decision by the Pennsylvania Supreme Court has basically invalidated local ordinances that restrict where sex offenders can live throughout the state.
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Tags: Allegheny County, buyer's agent, Megan's Law, sex offenders
Posted in Industry News, Legal Issues | 4 Comments »
The Federal Trade Commission (FTC) today announced a new policy which suspends enforcement of virtually all the Mortgage Assistance Relief Services (MARS) rules against real estate licensees involved in short sales.
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Tags: FTC, MARS forms, MARS rule, mortgage, short sales
Posted in Legal Issues, Standard Forms | 2 Comments »