Contracts and Transactions

male real estate agent giving thumbs up

9 Potential Real Estate Lawsuits and How to Avoid Them

From a presentation by Jim Meseck, White and Steele If there’s an unhappy seller or buyer, you can bet they’re going to find a way to blame their real estate broker or agent. We’ve seen potential real estate lawsuits occur when buyers’ and sellers’ expectations exceed what is reasonable. (Some of them would be laughable,Read More

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Can You Text Changes to a Lease Agreement?

A couple was selling one home and moving into another that needed work. They arranged to lease the house they sold, while a contractor did the work on the new house. At closing, the sellers had a written 7-month lease agreement with a specified move-out date. Before the lease was up, the buyer and sellerRead More

real estate agent writing contract

How to Ensure Offer Terms Survive the Real Estate Closing: the Doctrine of Merger

Errors and Omissions claims against real estate agents or brokers are often based  on the Purchase Agreement and Sales Disclosures. Clients who feel their interests were not adequately protected often turn to filing a claim against their agent or broker. Often, claims arising from the Purchase Agreement are based on a legal concept called theRead More

paper with withdrawn stamp

How to Withdraw Counteroffers to Prevent Real Estate Lawsuits

The good news is that you’ve gotten multiple offers on an open listing. The bad news, you accidentally sent out two counter-offers. What should you do? One of our clients faced that exact situation. Our client realized that this put the seller in a potential situation of being under contract to sell to two buyers,Read More

agent advising agent about firpta

How to Advise Buyers of FIRPTA When Purchasing from Foreign Sellers

Many real estate agents representing buyer clients have come across properties being sold by a foreign person — or someone who appears to be a foreigner. You may be unaware of the responsibility the buyer’s agent has in assisting buyer clients to evaluate and confirm the seller’s foreign status. The buyer also has a responsibilityRead More

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Understanding the Earnest Money Deposit in Real Property Sales

What Is Earnest Money And Its Purpose? Earnest money is cash deposited by a buyer to a seller into escrow (in states that use escrow), demonstrating the buyer’s intent to purchase an offered property. Essentially, it’s a way for a buyer to secure a contract with a seller to demonstrate they’re serious about making aRead More

house not sold sign

What To Do When Your Client Is In Contract and Does Not Want To Close?

Buyer’s (or seller’s) remorse becomes a legal issue when the buyer or seller does not want to close after they are under contract to buy or sell. This is true for commercial, residential or vacant lot property. Documentation is critical for claim prevention. Let’s take a look at what the listing agent and the sellingRead More

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Multiple Offers: How to Reduce Your Risk of a Real Estate Lawsuit

While multiple offers are certainly enviable for listing agents, they also increase the risk of a real estate lawsuit when certain steps, procedures, and laws are not followed. An agent with multiple offers on a listing should take time to strategize with the seller about options for proceeding, and review the pros and cons associatedRead More

The Significance of the Liquidated Damages Provision in the Residential Purchase Agreement

The vast majority of real estate agents and brokers are familiar with pre-printed purchase contracts for land such as the Residential Purchase Agreement and Deposit Receipt published by the California Association of Realtors Form RPA-CA Rev. 11/14 (C.A.R. ©). However,  you may not be familiar with paragraph 21 B of this document entitled “Liquidated Damages”.Read More

legal agreement between two people

The Pros and Cons of Binding Arbitration

Many times I have consulted with my real estate clients as to the advantages and disadvantages of binding arbitration to resolve a dispute concerning real property as opposed to resolving the dispute in a litigated case in a California court room. There are advantages and disadvantages of the binding arbitration process of the binding arbitrationRead More

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