When Does a Real Estate Agent’s Legal Duties Cease in California to His or Her Client?
In recent months I have handled an increasing number of risk management inquiries for real estate agents and brokers on the issue of when does a real estate agent’s duties cease to the client. This question typically arises after closing when new “issues” arise, such as newly discovered water intrusion or pest infestation problems thatRead More
What Is Psychologically Impacted Property?
Colorado has adopted a statute that excuses sellers of residential real estate and their brokers from having to disclose certain facts that may psychologically stigmatize real property. Unfortunately, Colorado does not have a clear rule as to what psychologically-stigmatizing circumstances do not need to be disclosed versus those that must be disclosed. Generally, Colorado realRead More
CAR New Wire Fraud Advisory
Cyber crime targeting wire transfers is on the rise. Criminals have developed viruses that hack into email accounts of buyers, sellers, real estate agents and escrow companies. The malware records login information and then sits undetectable by commercial anti-virus software. When an email is sent or received that mentions a wire transfer, the virus alertsRead More
The Purpose of a MLS Listing of Real Property in California
The purpose of a MLS listing of a parcel for sale Throughout California there are many local real estate associations that provide an electronic service used by real estate agents and brokers called the “multiple listing service” (MLS). This service allows members of a given local real estate association to see each other’s listings ofRead More
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
Is Your Website ADA Compliant? —A New Cyber Risk
The purpose of the Americans with Disabilities Act (ADA), enacted in 1992, is to assure equal access and services to disabled individuals. The ADA makes it unlawful to discriminate against people with disabilities. Title III of the Act prohibits entities that own, lease, or operate a place of public accommodation from discriminating against the disabled.Read More
How to Prevent a California Civil Code Section 1088 Violation
California Civil Code section 1088 Many real estate agents are not familiar with the provisions of California Civil Code section 1088. I am quite familiar with this provision having defended many real estate licenses over the years for placing inaccurate information in a listing posted in a given real estate association’s multiple listing service posting.Read More
Emails versus Texts in a Real Estate Transaction
The best way to prevent a claim or lawsuit against yourself as a licensed professional is to memorialize what was discussed in writing with your client starting with the log notes in your transaction file and then followed up with an e mail, facsimile transmission or a hard copy letter (preferably certified mail return receiptRead More
How Does a Property Manager Minimize His or Her Exposure in Landlord Tenant Relations?
With the resurgence of the California real estate market after the “Great Recession” I find that many of my real estate clients have diversified their business and have become involved in real property management. In California, a property manager is a person who takes care of the many aspects of commercial, industrial or residential propertiesRead More