Form-of-the-Week: Client Profile and LLC Subscription Agreement — Forms 350 and 373
A broker uses RPI Forms 350 and 373 when gathering information on and soliciting cash investors to form an LLC.
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Author: Amy Platero
DRE Hot Seat: Prison time for a broker who committed heinous mortgage fraud
This article is part of an ongoing series covering violations of real estate law. Here, the California Department of Justice (DOJ) sentenced a broker to 5 years and 4 months in prison and ordered him to pay restitution for creating forged and fraudulent records to obtain more than $8 million in mortgages for his clients in order to earn fees for himself.
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Form-of-the-Week: INTAX and §1031 Profit and Basis Recap Sheet — Forms 351 and 354
An agent uses RPI Forms 351 and 354 when negotiating a sale or §1031 reinvestment plan.
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The Appraisal Foundation urged to revise their Ethics Rule for appraisers
The Appraisal Foundation, responsible for updating the Uniform Standards of Professional Appraisal Practice, has revised their Ethics Rule at the request of federal regulators.
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Form-of-the-Week: Open House Interview Sheet, and the Agent Survey Sheet for Commercial Property — Forms 320-2 and 320-3
An agent uses RPI Forms 320-2 and 320-3 when determining the suitability of residential or commercial property to satisfy their client’s objectives.
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