Spoke with another Attorney at California Association of REALTORS® last week about acceptance. It's interesting how different attorneys at CAR have separate interpretations of the contract. 3 things must happen to have a binding offer. 1-Buyer and Seller must sign the contract/counter 2-Offer and
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01/24/2011
NHD and REO Clarification Although CAR's Natural Hazard Disclosure form is not REQUIRED to be completed by an Asset Manager, the seller is STILL obligated to disclose if the property is located in a high fire, flood and earthquake zone. This is best completed by ordering and paying for a Natural
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01/24/2011
WooHoo! CAR has released their 2011 disclosure requirements. Here are several items I'm paying attention to for this year; Smoke Detector and Water Heater Statement of Compliance Hooray for California Association of REALTORS® for incorporating the smoke detector and water heater statements of com
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01/24/2011
I have had several Transaction Coordinators (TC's) who attended my classes want clarification on agent responsibilities during a transaction. It really depends on what the TC and agent needs are. If a TC is working for ONE agent and receiving a salary, they may be more willing to add on extra tas
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10/27/2010
Guess the banks got caught with their preverbal pants down again. Seems "representatives" of some of the banks who provided affidavits confirming their personal knowledge and "right" to foreclose on a property were in fact...NOT! As a result, the judges who granted permission to foreclose were gr
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10/15/2010
Congratulations, you finally received an approval letter from the bank! You note the expiration date and you have plenty of time to negotiate with the second (if applicable) to close the deal on time. But wait, did you really read the approval letter? Some banks are adding additional terms to thi
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09/29/2010
Congratulations, you finally received an approval letter from the bank! You note the expiration date and you have plenty of time to negotiate with the second to close the deal on time. But wait, did you really read the approval letter? Some banks are adding additional terms to this letter (raisin
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09/21/2010
Exciting News! EscrowCoord.com has been approved as a Preferred Provider for Transaction Management for Realty World Northern California! I am so proud to have been considered and accepted by this awesome company and especially appreciate Wanda Klor and Michael Strong of The Klor Strong Team, Sco
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08/24/2010
I thought we had worked this one out! On Feb 1st of this year FHA agreed to temporarily allow funding on homes that were acquired by the current owner (bank/investor/seller) in less than 90 days IF the property met certain criteria. Now I hear some banks are still enforcing the 90 day flip rule-
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08/18/2010
A little birdie just informed me that a couple of large California brokerages have been dinged for not providing reports/disclosures to perspective buyers from a previous transaction on that same property that the broker was involved in! What this means is if your brokerage represented the seller
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08/18/2010
