Streamlined post-entitlement phase permit process in California
State departments may now approve housing plans, and all agencies now have tighter review timelines, or a building permit application is deemed complete.
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Author: Amy Platero
Form-of-the-Week: Purchase Agreement with Short Sale Contingency, and Deed-in-Lieu of Foreclosure — Forms 150-5 and 406
Alternative methods to a foreclosure sale on mortgaged property include a short sale and a deed-in-lieu of foreclosure. RPI Form 150-5 allows a buyer to purchase a property when the mortgage holder agrees to take a reduced payoff to satisfy the debt and clear title. RPI Form 406 allows an owner to deed their property directly to their mortgage holder.
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Rebuilding homes after a disaster now easier and less restrictive in California
Homebuilders rebuilding residential structures damaged or destroyed in a disaster now encounter fewer hurdles when the home is located in a common interest development (CID) or a planned residential project.
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Referral fees to transaction agents from third-party providers prohibited
Learn to identify impermissible fees for your referral of a transaction participant to a third-party provider as a duplicate charge and a prohibited kickback and establish broker-owned services and refer clients to use them to capture legally entitled profit from transactional services otherwise received by third-party providers.
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