Your fee agreement, a purchase agreement, the breaching buyer
Follow the steps of a buyer agent from representation agreement to closing on a buyer’s acquisition of property and recognize a buyer’s breach of the purchase agreement.
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Category: Your Practice
Market condition analysis in a broker price opinion
Agents preparing a BPO ignore price trends at their peril.
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Down payment download: Now this is ownership
Competent brokers and agents educate buyer-clients on the acquisition process into down payment consequences, transaction costs and ownership expenditures.
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Letter to the Editor: Why does firsttuesday report availability and ASAP delivery of the TDS by a seller broker?
Delivery of property disclosures to buyers is legislated to occur “as soon as practicable” (ASAP) on inquiry from a prospective buyer, well before a purchase agreement setting a price is entered into.
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Form-of-the-Week: Landlord and Seller Representation Agreement — Forms 106 and 102
A broker employed by a landlord to market the property to tenants, screen tenants and negotiate lease terms in exchange for a fee uses a Landlord Representation Agreement — the leasing equivalent of a Seller Representation Agreement.
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Due-on clause exceptions and waivers
This article covers exceptions and waivers to the enforceability of the due-on clause present in all trust deeds and enforced on sales only during a cycle of rising long-term fixed rate mortgage rates.
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DRE warns of email hackers committing wire fraud
DRE fraud alert underscores why you always need to check the wire transfer instructions.
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A closer look at the due-on clause
This article covers an owner’s use of property rights which allows a mortgage holder to capitalize on the due-on clause to extract further profit by calling the mortgage due and payable, or waiving the call to modify the interest rate and payment schedule at current market rates.
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Acceptance of an offer
Learn when a binding agreement to buy and sell real estate is formed and how to assist clients by preparing and submitting or responding to an offer to buy real estate.
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Commercial real estate listing site under fire for antitrust dealings
Antitrust behavior in real estate is back in the news. This time, commercial real estate site CoStar is getting the antitrust treatment.
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Avoid preferential price fixing with seller broker
This article presents the appropriate reaction to a seller broker’s attempt to simultaneously fee-fix and unlawfully induce a buyer broker to violate California’s buyer representation agreement law.
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(Re)introducing the due-on clause
This multimedia article explains when due-on clauses become used in the economic cycle and under which sale and leasing arrangements.
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FARM: Buy versus rent comparison analysis
Use first tuesday’s Buy Versus Rent Comparison Analysis to show first-time buyers how ownership creates savings and equity buildup that renting does not.
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An agreement starts as an offer
Learn the contract elements comprising an enforceable agreement and how to manage the submission of an offer for the sale, lease or exchange of real estate.
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Tax aspects advice
This article explains how to offer tax advice when appropriate, increasing an agent’s marketability by widening the range of services and advice offered to clients.
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A Fee Earned After the Retainer Period Ends
The first episode in our new five-part series depicts how a safety clause in an exclusive representation agreement establishes your right to a fee earned after the retainer period ends.
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Annual assessment increase for DFPI mortgage licensees
Declining DFPI licensee numbers, and the fees they charge, means the remaining individuals need to pick up the slack — with their wallets.
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The breaching buyer’s responsibilities
Learn to determine when a buyer’s breach of a purchase agreement and escrow instructions entitles a seller to recover monetary losses and intelligently discuss a seller’s recovery of losses on a resale following their buyer’s breach of a purchase agreement.
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Down payment download: Mind your mortgage
A homebuyer sourcing a 20% down payment experiences significant cost reductions over the life of the mortgage
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The seller breaches the purchase agreement
Learn to conduct a transaction as a buyer agent when a seller breaches the purchase agreement with a buyer, discuss remedies available to the buyer and review money losses the buyer may recover on a seller’s breach.
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