January 13th, 2025 at 7:21 pm
Question: A set of buyers are in a pending sales transaction using C.A.R.’s Residential Purchase Agreement (RPA). They have removed all contingencies, but they now want to cancel due to the L.A. fires nearby. Can the buyers cancel and get their deposit back? (more…)
January 6th, 2025 at 1:59 pm
New year, new laws! The start of 2025 also marks the start of new California laws that may affect your real estate practice. Here are some of the highlights for 2025: (more…)
December 30th, 2024 at 2:38 pm
Fact Pattern: You are a buyer’s agent. The buyers tell you that they have no money to pay your 2.5% compensation. You check the box concerning the buyers’ insufficient funds in paragraph 2G(2) of C.A.R.’s Buyer Representation and Broker Compensation Agreement (BRBC). Both sides sign the BRBC. You then help the buyers submit an offer for a property listed for sale with another brokerage. The offer includes a request that the seller pays you 2.5%, but the seller refuses to pay you anything.
Multiple Choice Question: Can you cancel the BRBC with respect to this particular property? Pick the best answer:
A. Yes, by mutual agreement only.
B. Yes, but the buyers can proceed with the purchase of this property without your representation.
C. No, because you have a fiduciary duty to act in the buyers’ best interest.
D. No, because the buyers must buy something else. (more…)
December 23rd, 2024 at 3:46 pm
On December 17, 2024, C.A.R. rolled out its December 2024 Forms Release. Please take a look at last week’s Legal Tip for the highlights of roughly 64 new and newly revised forms. As part of their Forms Release, C.A.R. also discontinued 2 forms as follows: (more…)
December 16th, 2024 at 3:02 pm
On December 17, 2024, C.A.R. plans to roll out its December 2024 Forms Release. The roll-out includes roughly 64 new and newly revised forms, although many of the changes are minor revisions. Here are some of the highlights of C.A.R.’s December 2024 Forms Release: (more…)
