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Legal Issues
Truth in square footage
We have written several articles over the years pertaining to quantum of land, square footage and the buyers’ obligation to make sure the house is everything (or mostly everything) they want it to be. A recent decision from the Oklahoma Supreme Court identifies some issues that licensees need to consider. »
7 Comments »¿Se habla Español?
PAR has translated many of its forms, including the new Agreement of Sale (ASR) into Spanish for REALTORS® to use as a reference when working with Spanish-speaking clients. These reference copies may not be used in transactions but can be used to allow Spanish-speaking clients to read the forms in their language. »
No Comments »Best of the Hotline: Beware installment sales contracts
Facts: Our caller, a listing agent, was having trouble finding a qualified buyer for her client’s property. Shortly before the listing expired, a buyer offered to purchase the property on an installment sales contract and agreed to pay $2,000 down and $500 a month beginning with the first of the following month. »
No Comments »Disclosure, anti-trust, RESPA to be highlighted at PAR Business Meetings
NAR’s General Counsel Laurie Janik, Esq. will team with PAR’s Counsel Jim Goldsmith, Esq. to present national trends in broker liability issues at the PAR Business Meetings on Monday, May 24 at 3 p.m. in the Harrisburg Hilton. »
No Comments »The hidden truth: The seller is short
The saga of one unhappy client illustrates the necessity of knowing that a transaction is or may be destined for short sale. »
12 Comments »Dual agency or designated agency?
A licensee is a dual agent in a transaction where the seller’s agent and the buyer’s agent are one and the same. Simple. Slightly more complex is the dual-agency relationship that is created when the seller’s agent and the buyer’s agent are separate licensees but both affiliated with the same broker. »
9 Comments »Part 2: Licensed to what?
Many real estate offices employ office workers who keep the books, provide clerical services and greet clients at the reception desk. What kinds of work are these unlicensed, “exempt” employees permitted to perform? After all, having a bright-line definition of licensed activity would be helpful since crossing the line is a violation of law... »
1 Comment »Homebuyer tax credit: Do you have a ‘binding contract’?
Thinking about cutting corners to get your client "under contract" before April 30? Don't do it. »
No Comments »Part 1: Licensed to what?
What are real estate brokers or salespersons licensed to do? This is part one of a two-part series that describes what licensees can and can’t do. »
14 Comments »Lead-paint renovations require certified contractor
New EPA rules require contractors doing home repairs on homes built prior to 1978 to take specific training in lead paint-safe practices as of April 22, according to Dale Kemery, spokesperson for the U.S. Environmental Protection Agency (EPA). »
2 Comments »
