Disclosure Issues
Avoiding a Conflict of Interest Situation at Your Real Estate Brokerage
Real estate professionals can find themselves facing a lawsuit for any number of reasons. Conflicts of interest situations are one of those reasons — especially if you have a conflict of interest, and you don’t declare it. Real estate agents have a fiduciary obligation to each client, so there’s an expectation that client interests willRead More
When Real Estate Sellers Don’t Want to Disclose — and What Buyers Should Be Wary of
Have you ever encountered a seller who doesn’t want to disclose? In many states, certain things must be disclosed. To facilitate this, states like Colorado have a Real Estate Commission- approved Seller’s Property Disclosure form. What happens when the seller chooses not to complete the disclosure form? In Colorado, use of the disclosure form isn’tRead More
The 5 Most Common Seller Errors That Can Lead to Real Estate Lawsuits
Sellers can find themselves in hot water for any number of reasons, but there are 5 most common seller errors that can lead to lawsuits. Here’s how to avoid them and help your sellers to stay out of trouble. Not Disclosing All Past Property Problems In their enthusiasm to sell their property, sellers may notRead More
Due Diligence Checklist for Your Team for Real Estate Transactions
Due diligence is an important part of any real estate transaction, whether you’re representing the buyer or the seller. When advising clients about due diligence, it’s important your team is all on the same page. Consistency is key to both protecting your valued clients, your team members, and your real estate brokerage. Due diligence ensuresRead More
Airbnb and the Impact on Real Estate Sales
Airbnb has transformed the accommodation market and shaken up the property market in the process. The platform currently has 7 million listings worldwide across more than 100,000 cities, in more than 220 countries. Critics have spoken widely about the lack of regulation of the home-sharing platform, along with the impact on rental prices. All theRead More
Managing Your Risk When Selling a Car-Crash- Prone Property
As a real estate professional, your likelihood of being sued can increase when selling high-risk properties. Homes on busy roads or intersections, on tight corners, or in other locations where car crashes are a strong possibility can pose a risk to buyers. This has the potential to end up being your problem if they slapRead More
Does a Low Appraisal Need to Be Shared with the Seller?
It’s no surprise that appraisals are part of the process when it comes to real estate sales, but sometimes low appraisals can be a surprise. When this happens, lenders may decline to finance. And, if there’s a home appraisal or loan contingency, the sale may not go through. Recently we talked to a CRES clientRead More
Selling and Buying Property in a Noisy Area
The real estate market is all about trade-offs and compromise — particularly in a tight housing market, which California and a number of other states are experiencing today. When demand far outweighs supply, prospective buyers will go to great lengths to secure a property before prices again skyrocket — and shatter their dreams of homeRead More
Risks When Representing Clients With Wildfire Damaged Real Estate
How to manage 4 key areas of risk when a client’s home is destroyed by CA wildfires If you’re a California real estate professional, chances are you may have represented a buyer who purchased a home that ended up being destroyed by wildfires. If you haven’t already, you may in the future. Or, perhaps youRead More
When There’s Mold in Real Estate
Mold litigation has expanded, and is now being brought by property owners/buyers, employees, tenants, or merely building occupants dealing with mold in real estate. These claims gained a lot of publicity (for example, the Ed McMahon lawsuit). Yet, the science regarding mold and whether it can cause significant or permanent health effects is not established.Read More