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: Buyers and Sellers
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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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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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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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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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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FARM: Applying for a mortgage?
Use this firsttuesday FARM Letter in your marketing. For a list of all our FARM letter templates...
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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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FARM: 10 tips for a successful yard sale
Use this firsttuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a...
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“For Sale” sign ordinances and CC&Rs
Learn to properly display a “For Sale” sign on behalf of the seller to advertise the property for sale, understand when permission is needed to advertise a property within a common interest development (CID) and abide by the regulations concerning the placement of a “For Sale” sign on a private or public right-of-way or on a mobilehome.
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Transparency as symmetric marketing
Learn how to persuade a seller-client to order out third-party reports on a property’s condition to enhance marketability, provide a marketing package to prospective buyers and work up effective marketing plans to sell a property when employed under a seller representation agreement.
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The safety clause for residuals from due diligence efforts
Learn to appreciate a safety clause provision in exclusive representation agreements as assurance a fee is earned after expiration when your client sells or buys due to your efforts during the employment.
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FARM: Do’s and don’ts for staging your home
Use this firsttuesday FARM Letter in your marketing. For a list of all our FARM letter templates...
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Fees for withdrawal or termination of a representation agreement
Learn to protect your broker’s right to collect a fee when a seller-client removes their property from the market or cancels the representation agreement.
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Is percolating groundwater which seeps into an aquifer conveyed with the land when a mortgage holder forecloses on a parcel of real estate?
Sandton Agriculture Investments III, LLC v. 4-S Ranch Partners, LLC
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The exclusive employment obligations of a broker
Learn the obligations of a seller and their broker under an exclusive seller representation agreement and whether a buyer is ready, willing and able to buy when submitting an offer to purchase.
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The MLS environment
Review the historical and current practice of a buyer broker to earn and be paid their fee on a transaction when representing a buyer-client.
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Lessons from the Field: Incomplete TDS
An agent, retained by a seller of property, has a duty to have the seller-client enter their truthful responses to property conditions itemized on a Transfer Disclosure Statement (TDS).
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Reading the legal tea leaves — the parallel need to conform tenant representation to new buyer representation rules for commercial transactions
The new buyer representation rules have an application which may surprise some brokers – the negotiated, written representation of commercial tenant clients.
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