Whether you represent the buyer or the seller, looking over the property and providing the findings in writing is a smart way to reduce your liability and protect yourself and your client. Make it your mantra to “ask, look, and recommend.” Otherwise, what you don’t see, and don’t disclose, may hurt you in court.
Armed with industry surveys that show consumers would like more simplicity in home sales transactions, industry players are jumping into the market for packaged services. In 2003, several large lenders and title companies rolled out packaged services, with more poised to enter the fray this year.
Eminent domain's public purpose has come to include taking real estate in prime locations from one private owner and transferring it to another private entity—often a business or a developer, which is expected to generate more tax revenue for the city than the original owner.
Like asbestos and radon before it, synthetic stucco rings loud alarms with anyone involved in buying and selling homes in certain parts of the country. News stories and lawsuits have linked the product to water intrusion behind exterior walls, which in turn rots sheathing, and other building components and makes many afflicted homes virtually unsalable.
Stigmatized properties are homes where a real or rumored event occurred that didn’t physically affect the property but could adversely impact its desirability. As a buyer’s representative, you’d probably have a fiduciary obligation to inform your clients of anything you know about a property even if such disclosure is exempted by state law. So what to do?
Identity theft victims may be denied credit or medical benefits, have their wages garnished, find liens placed on their property, or even be arrested for someone else’s crime. The Federal Trade Commission estimates that victims of identity theft spend an average of 175 hours trying to clear their names.
It’s often done with the best of intentions, but manipulating contracts, appraisals, sources of downpayment, and sale prices to help buyers qualify for a higher loan amount—even if it’s suggested by the lender—may make you guilty of loan fraud.
Giving testimony at a deposition can be risky because the American legal system is naturally adversarial. Here are 10 simple guidelines that will help you render deposition testimony effectively and safely.
Because of the potential for conflicts of interest inherent in the disclosed dual agency relationship, buyers and sellers must understand its implications and give their informed consent to the relationship. For salespeople, one of the biggest challenges is keeping price and motivation confidential on both sides of the transaction.