As a rule of thumb, property ads and promotions should focus on describing the property, not the sellers or potential buyers. Here are some fair housing guidelines from the U.S. Department of Housing & Urban Development on acceptable and unacceptable advertising phrases.
With so many federal laws and regulations governing real estate activities, it’s all too easy to forget one or two in the heat of a sale. Here’s an easy-to-use cheat sheet for some major laws affecting real estate.
In some states, escrow agents handle all aspects of a closing; in others their responsibilities begin and end with the earnest money deposit. But handling the money can be tricky, so be sure you know your client’s rights.
Let's say you own and have managed a four-unit apartment building for 20 years, which is now worth $600,000. So far, no problem. Now, however, you’re moving out of state, and you’re facing a healthy capital gains tax if you sell outright. What are your options?
A growing number of federal and state laws make it imperative that you adhere to a disclosed policy on how you gather customer information and what you do with it. Here are some policy building blocks.
A failure to communicate is the major reason behind lawsuits and licensing complaints, according to Spencer Stephens, attorney at law. Claims most commonly come from buyers and center around accusations of misrepresentation, failure to disclose defects and deficiencies, and failure to perform as a fiduciary.
If your listing has lead-based paint or asbestos, or if you know a convicted sex offender lives next door, the operative word for making a deal is disclosure. Now you can add “prior drug-lab use” to your list of disclosures, at least if you live in North Dakota.