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Members are telling me that now more than ever before, settlements are being conducted by out-of-town title companies. There are also more banks and lending institutions selling residential real estate than ever before. This combination has led to some unusual settlements.
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Do you have a privacy policy for your Web site? You should. See why.
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As a real estate licensee, you know that you have to deliver certain documents to a buyer before settlement. When and how you deliver them, however, can be a source of confusion.
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In a recent article, I offered my opinion that a listing agent can better avoid liability by avoiding dual agency. I heard from a number of you that disagree with my approach. I have heard these arguments, but continue to hold onto my original opinion.
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You may have heard about this little antitrust lawsuit against NAR regarding its VOW policy. The case was officially settled in November, and the settlement required that all REALTOR-owned MLSs adopt the new VOW policy and rules no later than February 15.
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There has been a spate of calls to the Legal HotLine asking who can hold the “good faith” money, and what should be done if someone other than the listing broker is tasked with that responsibility. In answering, we consider both the law, and the contract.
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It is important to remember that real estate offices must comply with the law or face penalties from the State Real Estate Commission, who is provided enforcement oversight and the ability to fine individuals for non-compliance.
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Thursday, May. 17, 2012
