Guest or Tenant? How to Deal with Someone Who Won’t Leave
What happens when somebody pays you to stay in a room short term and then doesn’t want to leave? That happened to one of our clients. She offered a place to stay in her home since hotel rates were so high. The person agreed to pay $600 for the short-term use of a bedroom. NowRead More
Can You Text Changes to a Lease Agreement?
A couple was selling one home and moving into another that needed work. They arranged to lease the house they sold, while a contractor did the work on the new house. At closing, the sellers had a written 7-month lease agreement with a specified move-out date. Before the lease was up, the buyer and sellerRead More
Be Alert and Prepared for Real Estate Broker Identity Theft
Our E&O client recently contacted CRES Risk Management to report that somebody was using her name, license number and professional background on a fake website. The website was designed to lure unsuspecting real estate consumers into a scam involving timeshares. She wanted to know what she could do to protect herself. Be Aware of EmergingRead More
Can You List Property in Trust with an Uncooperative Co-owner?
There are benefits of putting a property in trust, but sometimes it can complicate matters—especially when trustees don’t agree. Have you ever had a court assigned listing for a parcel in trust? When all the parties work together, it can be a smooth process. But what happens when one of the trustees doesn’t cooperate? CanRead More
Should a Real Estate Agent Disclose Divorce in a Home Sale?
It’s not uncommon for a couple getting divorced to sell their home, so it’s quite possible that you have been or will be involved in real estate sales when the sellers are divorcing. In those cases, do you need to disclose that the sellers are getting divorced? Recently CRES Risk Management fielded a call fromRead More
How to Keep a Verbal Easement from Turning into a Lawsuit
Have you represented a property with a verbal easement? If so, did the buyer or seller get an Improvement Location Certificate (ILC)? If not, you could end up with a headache – or a lawsuit. We’ll share an agent’s actual experience and show you the best way to handle past and future sales. Recently, CRESRead More
What Can Property Managers Do About Marijuana Cultivation?
Changes in state laws about marijuana use and cultivation means that growing marijuana may become an issue for real estate agents in several states. Recently, CRES Risk Management fielded a call from a client wanting to know how to deal with a marijuana cultivation issue. Our client is a property manager who learned that aRead More
How to Withdraw Counteroffers to Prevent Real Estate Lawsuits
The good news is that you’ve gotten multiple offers on an open listing. The bad news, you accidentally sent out two counter-offers. What should you do? One of our clients faced that exact situation. Our client realized that this put the seller in a potential situation of being under contract to sell to two buyers,Read More
Should You Respond to the Threat of a Real Estate Lawsuit?
Seller carrybacks can be risky. Could helping a client with a carryback loan put you at risk of a real estate lawsuit? In this example it did. Our client was the selling agent who assisted a buyer with a purchase that included an $85,000 carryback loan. The seller later contacted the selling agent, asking ifRead More
Avoid a Lawsuit as a Dual Agent Selling Your Own Home
You’re ready to sell your house. Good thing you’re a real estate agent. You can represent yourself—and maybe the buyer, too (depending on your state)—streamline the process, and make more money. But before you do, understand the risks of a real estate lawsuit in a dual agent situation when you are selling your own property.Read More