California’s turnover rate ice cold in 2024
California’s homeowner turnover rate is the lowest it’s been in years, showing just how frigid California’s housing market is in 2024.
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Category: Buyers and Sellers
Buyer-Broker Representation Agreements: The end of the “gold standard”
With new California legislation, it’s now mandatory practice for a buyers broker to enter into an employment agreement with buyer clients before a purchase agreement is submitted.
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NAR’s long-established compensation model finally evolves
After years of lawsuits, NAR® has finally agreed to a settlement relegating cooperative compensation to the history books.
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Form-of-the-Week: The Counteroffer, and Counteroffer Addendum — Forms 180 and 180-1
The seller responds to a buyer’s offer Typically, a buyer submits a purchase agreement offer to a...
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New advertisement law requires all fees be disclosed upfront — with implications for real estate
With authorities cracking down on misleading advertising, brokers and MLOs will be wise to take this opportunity to ensure their adverts are in compliance.
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Form-of-the-Week: Authorizations to Prepare an NHD, and a Structural Pest Control Operator Report — Forms 131 and 132
A sellers agent uses Forms 131 and 132 to order out a Natural Hazard Disclosure (NHD) report and a Structural Pest Control (SPC) report.
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Form-of-the-Week: The option to buy and its variations — Forms 161, 161-1 and 161-2
A leasing or sales agent uses RPI Forms 161, 161-1 and 161-2 when arranging an option to purchase property.
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Is a buyer entitled to a reduction from the fair market value (FMV) of a property acquired from a city when their purchase agreement included a below-market leaseback agreement?
290 Div. (EAT) v. City and County of San Francisco
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The liquidated damages provision and the breaching buyer’s deposit when prices decline
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.
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The seller cancels the purchase agreement: now what?
Buyer remedies when a seller breaches or cancels a purchase agreement
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Extending performance dates to attain purchase agreement objectives
Avoid premature termination when purchase agreement objectives can be met by extending dates.
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Natural hazard disclosures and the seller’s agent
Gone are the days of minimal or delayed property disclosures.
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Cancellation excuses further performance
When is a buyer or seller entitled to exercise their right to cancel a purchase agreement and escrow instructions?
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The many pitfalls of pocket listings
The risky business of pocket listings are dangerous for sellers, buyers — and brokers.
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A home inspection report: the liability shield for a seller’s broker
A home inspection report is used by a seller’s broker to shift the risks of non-disclosure liability in their use of a seller’s Transfer Disclosure Statement.
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Form-of-the-Week: A comparative market analysis for setting prices and rents — Forms 318 and 318-1
A seller’s agent uses RPI Forms 318 and 318-1 when educating the seller on a reasonable asking price or rental amount for the property.
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As mortgage interest rates rise, concessions return
Buyers looking to recoup lost purchasing power are dusting off old strategies to secure a more comfortable monthly mortgage payment.
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Form-of-the-Week: Occupancy Agreements — Interim and Holdover — Forms 271 and 272
Buyers and sellers use RPI Forms 271 and 272 to occupy property as tenants until a replacement residence is secured.
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What a cooling market means for both sides of real estate transactions
The real estate market’s pivot from soaring prices to plunging prices will affect buyers, sellers, lenders and support services in different ways.
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