The representation of a seller-client
Learn how to manage licensed activities as a seller agent from soliciting a seller-client and organizing the marketing of their property through closing a transaction.
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Author: Amy Platero
Lot splitting in historic districts permits new housing
A loophole allowed local agencies to designate neighborhoods as “historic districts” barring additional housing by ordinance. Now, that local loophole is removed. Parcels in historic districts may now be subdivided and each lot constructed with a duplex.
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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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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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