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Legal Alert: Commissions

RealPro, Inc. v. Smith Residual Co.; Fourth Dist. February 28, 2012 Smith Residual Co. (the Sellers) owned 46.8 acres of vacant land in Riverside County, CA. They retained MGR Services, Inc, a real estate broker, as their exclusive agent for the sale of the property. On September 21, 2005, the sellers entered into a standardRead More

Agent’s Provision of Visual Inspection Documentation

Concern: Some REO Sellers and their Listing Agents seem to adopt a pretty stern approach to the sale, calling the shots and trying to control the entire process. This is common, and can also be dangerous. Here are some pitfalls to avoid: “My Seller is not required to supply a Transfer Disclosure Statement. Since theyRead More

Chinese Dry Wall

Signs of Possible Chinese Drywall Presence Residence was built after 2004 Mild to strong sulphur or “rotten egg” smell in the residence Rapid corrosion and blackening of metal in air conditioning coils, plumbing piping and fixtures, wiring, and silver items Unexplained respiratory distress of occupants that ceases when they leave the residence What to DoRead More

Do you REALLY know what your real estate agents are doing?

In today’s tough market, agents are doing whatever they can to make money. How much do you really know about their actions? We are seeing a dramatic increase in claims where real estate agents are doing business that is not condoned by the broker. More and more agents are getting involved in activity outside theirRead More

Avoiding Lender Fraud

The recent cooling of the residential real estate market in most areas of the state has created a new opportunity for those inclined to defraud their lenders.  We have seen buyers making offers that exceed the listing price and then requesting a credit to be refunded back to the buyers.  The credit is usually equal to or slightlyRead More

Here are 7 tips to ensure your real estate team doesn’t take their foot off the gas during slow sales periods.… https://t.co/7yQuQDdUo3 You can give your home sellers their own E&O coverage when you provide a CRES Qualified Home Warranty from Old Repu… https://t.co/lxU1eo4vPh