Legal Updates

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 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. The SellerRead 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

Do you REALLY know what your real estate agents are doing?

In today’s tough market, agents are doing whatever they can to make money. How much do you really know about their actions? We are seeing a dramatic increase in claims where real estate agents are doing business that is not condoned by the broker. More and more agents are getting involved in activity outside theirRead More

Avoiding Lender Fraud

The recent cooling of the residential real estate market in most areas of the state has created a new opportunity for those inclined to defraud their lenders.  We have seen buyers making offers that exceed the listing price and then requesting a credit to be refunded back to the buyers.  The credit is usually equal to or slightlyRead 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

When the #threat of a #realestate E&O claim rears its head, it's hard to know what to do. This is a great place to… https://t.co/bbJUa5zGek Do you know how to avoid federal #prosecution if a #property you represent is being used to cultivate #marijuana? https://t.co/6Dy1S6DRAC