Legal Updates

Minimizing Realtor® Liability When Listing Foreclosure Properties

Real estate brokers and agents are often hired by banks to market and sell properties after a foreclosure. When dealing with foreclosure properties, you may be confronted with a former owner who has not vacated the premises and/or removed their belongings from the foreclosed property. This article will discuss how you can minimize your liabilityRead More

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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

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

Brokers May be Left Broke without Workers’ Compensation

Every single person autonomously employed in the state of California is required to be covered by workers’ compensation coverage by law.  And as some real estate businesses and independent brokers are discovering, attempting to fly under the radar of the government to save a little money on premiums may be more of a road toRead More

Are you afraid of Flopping? If not, you should be.

By James R. Myers, The Chartwell Law Offices, LLP, Ft Myers, FL Beware of Flopping As if our national real estate crisis has not been bad enough, a new problem is emerging, as record numbers of short sales continue – a phenomenon known as ―flopping. It is essentially a fraudulent quick flip, involving a re-saleRead More

Help your buyers to obtain a more affordable home

A guest entry from our friends at Asset Plan USA. Making Home Affordable Programs – including HAMP, HAFA – Extended and Expanded through 12/31/13 The Treasury department recently released Supplemental Directive 12-02 (link: https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/sd1202.pdf) officially extending the term of all Making Home Affordable programs – including Home Affordable Modification Program (HAMP), Home Affordable Foreclosure Alternatives Program (HAFA),Read More

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

LEGAL ALERT: New Case on Homeowners Association

On February 23, 2012, the Second District Court of Appeal (in California) announced its decision in Glen Oaks Estates Homeowners Association v. Re/Max Premier Properties, Inc. Factual Background The Glen Oaks Homeowners Association (HOA) filed suit against two Real Estate brokers: (1) Re/Max Premier Properties and (2) Dilbeck Realtors®. The complaint alleges that the Realtors®Read More

2012 Changes and Additions to Real Estate Laws

Each year, new requirements and regulations are enacted in the real estate industry. Below is an overview of the items discussed at the (California) C.A.R. legal forum held on January 20, 2012. Addition to the TDS The TDS has been revised to provide a checkbox in Section llA. This deals with Water-Conserving Plumbing Fixtures. TheRead More

Short Sale Deficiencies

On January 1, 2011, the California Civil Code Section 580e was enacted. This statute prohibited a First Trust Deed lender from receiving a deficiency judgment against a short sale seller of 1 to 4 residential unit properties. Through the efforts of C.A.R. on July 15th of the same year, the statute was broadened to includeRead More

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