Buyers and Sellers | firsttuesday Journal

The liquidated damages provision and the breaching buyer’s deposit when prices decline

by Carrie B. Reyes | May 15, 2023 | Buyers and Sellers, Feature Articles, Real Estate, Recessions, Your Practice | 0

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 seller cancels the purchase agreement: now what?

by Carrie B. Reyes | Apr 24, 2023 | Buyers and Sellers, Feature Articles, Market Watch features, Your Practice | 0

Buyer remedies when a seller breaches or cancels a purchase agreement

Extending performance dates to attain purchase agreement objectives

by Carrie B. Reyes | Apr 17, 2023 | Buyers and Sellers, Feature Articles, Real Estate, Your Practice | 0

Avoid premature termination when purchase agreement objectives can be met by extending dates.

Natural hazard disclosures and the seller’s agent

by Carrie B. Reyes | Mar 13, 2023 | Buyers and Sellers, Feature Articles, Real Estate, Your Practice | 0

Gone are the days of minimal or delayed property disclosures.

Cancellation excuses further performance

by Carrie B. Reyes | Mar 2, 2023 | Buyers and Sellers, Feature Articles, Market Watch features, Real Estate, Your Practice | 0

When is a buyer or seller entitled to exercise their right to cancel a purchase agreement and escrow instructions?

The many pitfalls of pocket listings

by Carrie B. Reyes | Feb 20, 2023 | Buyers and Sellers, Feature Articles, Home Sales, Real Estate, Your Practice | 0

The risky business of pocket listings are dangerous for sellers, buyers — and brokers.

A home inspection report: the liability shield for a seller’s broker

by Carrie B. Reyes | Feb 16, 2023 | Buyers and Sellers, Feature Articles, Laws and Regulations, Real Estate, Your Practice | 0

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.

Form-of-the-Week: A comparative market analysis for setting prices and rents — Forms 318 and 318-1

by Amy Perry | Dec 27, 2022 | Appraisal, Buyers and Sellers, Finance, Forms, Real Estate, Recessions | 0

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.

As mortgage interest rates rise, concessions return

by Amy Perry | Dec 12, 2022 | Buyers and Sellers, Finance, Interest Rates, Loan Products, Mortgages, Real Estate | 0

Buyers looking to recoup lost purchasing power are dusting off old strategies to secure a more comfortable monthly mortgage payment.

Form-of-the-Week: Occupancy Agreements — Interim and Holdover — Forms 271 and 272

by Amy Perry | Nov 14, 2022 | Buyers and Sellers, Forms, Home Sales, Real Estate | 0

Buyers and sellers use RPI Forms 271 and 272 to occupy property as tenants until a replacement residence is secured.

What a cooling market means for both sides of real estate transactions

by Amy Perry | Sep 19, 2022 | Buyers and Sellers, Economics, Market Watch, Real Estate, Recessions | 1

The real estate market’s pivot from soaring prices to plunging prices will affect buyers, sellers, lenders and support services in different ways.

Form-of-the-Week: Expired listings — Forms 122, 123 and 123-1

by ft Editorial Staff | Sep 19, 2022 | Buyers and Sellers, Forms, Real Estate | 1

An agent who was the procuring cause for a sale in an expired listing uses RPI Forms 122, 123 and 123-1 to demonstrate and demand the collection of their fee.

Form-of-the-Week: Mortgage Worksheets — Forms 312, 320 and 320-1

by Amy Perry | Sep 1, 2022 | Buyers and Sellers, Forms, Mortgages, Real Estate | 0

A buyer’s agent uses mortgage shopping worksheets when shopping for the most competitive mortgage options for their buyer.

Home defects face greater scrutiny in 2022’s cooling market

by Amy Perry | Aug 22, 2022 | Buyers and Sellers, Economics, Fundamentals, Laws and Regulations, Real Estate | 0

Today’s sobered homebuyers have greater liberty to leverage home defects to justify a price cut than they did the last two years.

Failing to qualify, or just cold feet? More homebuyers backing out of deals in 2022

by ft Editorial Staff | Aug 22, 2022 | Buyers and Sellers, Home Sales, Real Estate | 0

June 2022 saw the most escrow cancellations since the 2020 pandemic disruption.

Form-of-the-Week: Transfer Disclosure Statement, Unique Factors and Conditions Affecting Property and Seller’s Neighborhood Security Disclosure — Forms 304, 308 and 321

by ft Editorial Staff | Aug 8, 2022 | Buyers and Sellers, Forms, Real Estate | 0

A seller’s agent discloses the existence of unique external factors or conditions affecting a property’s desirability or security conditions surrounding a property with RPI Forms 304, 308 and 321.