Home Inspections & Warranties

septic system waste trucks

Septic System E&O Claims Are Climbing: Here’s How to Prevent Them

From a presentation by Diana Mendez and Jim Meseck, White and Steele Septic systems (or as they’re often called in Colorado, onsite waste treatment systems) are a huge source of litigation. We’re seeing a lot of septic claims, and it appears that 100% of these claims are preventable. If you haven’t sold a property withRead More

Flooded living room plumbing problems

Plumbing Problems? How to Avoid a Real Estate E&O Claim

Have you ever been in this situation? The inspection looked good, but it turned out there were major problems that went unnoticed. When the buyers found out, they were understandably unhappy. If this happened to you, do you know what to do to help your client and avoid a real estate E&O claim? Recently, aRead More

Disclosure with fountain pen

A Realtor’s and Seller’s Duty to Disclose All Prior Inspection Reports on a Listed Property

The duty to disclose all that is material affecting price paid or desirability Over the years, I frequently come across risk management inquiries involving whether a seller and his or her listing agent need to disclose prior property inspection reports of the property being listed for sale. Negative prior third-party expert reports on the listedRead More

Man with toolbet and house in background

Home Warranties: Do they Really Help Sell Homes?

A home warranty can be exactly what either the buyer or seller needs to get a deal done, but sometimes the absence of one could be overlooked. How do you know when a home warranty is in the cards? If it’s a new home, it’s essential. If it’s an older home with issues, it mightRead More

Louisiana New Home Warranty Act & the LREC Property Disclosure Form

This post is in response to the Louisiana New Home Warranty Act, La. R.S. 9:3141 et seq., and the mandatory Louisiana Real Estate Commission (LREC) property disclosure form. Case: Stutts v. Melton, 2013-0557 (La. 10/15/13), 130 So. 3d 808, 810, reh’g denied (Dec. 6, 2013). Facts: A builder/seller completed construction of the residence at issue inRead More

two story home

Home Inspections: Don’t Oversell One to Your Real Estate Clients

Recommending a home inspection company is a helpful and valuable service a real estate agent can perform, however, it can also lead to a real estate lawsuit. And while the courts mostly rule in favor of the real estate agent, it is important to take steps to guard yourself against a real estate lawsuit whileRead More

Important Home Warranty Information: Why Homeowners Need It

People insure many things that are important to them. For instance, most people insure their lives with Life Insurance, their cars with Car Insurance, and their health with Medical Insurance. Unfortunately, one item that is often overlooked but has equal importance is their home, especially what’s inside the home. Different from Homeowners Insurance, a Home Warranty PlanRead More

The Legal Forum: How to Avoid Claims Responsibly & Eliminate Finger Pointing

The Legal Forum is a CRES Current exclusive. Want free legal advice from experienced real estate attorneys? If so, stay tuned to the CRES Current for the new Legal Forum column every month! DON’T AGREE TO ASSUME DUTIES OR RESPONSIBILITIES THAT AREN’T YOURS. A real estate agent always wants to come across as knowledgeable andRead 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

RT @realtormag: How to explain to prospects and clients that your specific real estate knowledge is worth the money they’ll pay for your se… Colorado Realtors®: it's time to renew your E&O policy. CRES Real Estate E&O FAR exceeds the coverage of the group… https://t.co/JJj2Y69BrD