Agents need to be aware of the maximum dollar amount the seller is entitled to receive upon a buyer’s breach – especially when home prices are falling.
The liquidated damages provision and the breaching buyer’s deposit when prices decline
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Due Diligence and Disclosures
Get the most for your clients and protect your hard-earned fee by reviewing the forms you’ll encounter in brokerage services. Stay current on the latest news, videos, forms, and updates for Due Diligence and Disclosures.
Recent updates to the course e-book
Chapter 2: The MLS environment. The updated statutory Agency Law Disclosure
and confirmation provision went into effect the beginning of 2019. Both the
content of the form and when it is to be used have been modified. For a
thorough analysis of the new disclosure and confirmation practices, see the
January 2019 article, What you need to know about the refreshed – and mostly
improved – Agency Law Disclosure.
Chapter 32: The breaching buyer’s responsibilities. The first subhead on page
350 should read “Interest depends on property use.”
06/25: The 2025 rules for buyer representation and fee-splitting avoidance are currently being edited into this e-book.
Newly published related content
Bankruptcy’s tie to homeownership
Bankruptcy numbers were artificially low in 2020-2021. Prepare for today’s zombie businesses to fold with the 2023 recession.
The seller cancels the purchase agreement: now what?
Buyer remedies when a seller breaches or cancels a purchase agreement
Extending performance dates to attain purchase agreement objectives
Avoid premature termination when purchase agreement objectives can be met by extending dates.
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.
California Attorney General clashes with NIMBYs in Huntington Beach
This is the second time the state has sued Huntington Beach over housing law violations.
Four units by the parceling of one
The California HOME Act law from 2022 holds the power to end the housing shortage by splitting a single-family parcel in two lots and building three additional units.
Natural hazard disclosures and the seller’s agent
Gone are the days of minimal or delayed property disclosures.
Redlining practices cost LA-based lender $31 million in settlement
The largest redlining settlement in the Justice Department’s history involved a lender servicing Los Angeles who achieved disproportionately low numbers of mortgages from minority areas.