July 2nd, 2018 at 1:37 pm
Question: Last week, you told us about the new Tenant Flood Hazard Disclosure (TFHD) requirement for all new residential leases entered into starting July 1, 2018. A sales representative from a Natural Hazard Disclosure (NHD) company is now offering an NHD Renter Report for $29. The sales rep said that, regardless of the TFHD disclosure form, a landlord must give a tenant an NHD Renter Report disclosing whether the property is located in a flood hazard zone. Is that correct? (more…)
June 18th, 2018 at 3:35 pm
Multiple Choice Question: If the expiration of a buyer’s 17-day inspection contingency period falls on a Saturday, and we assume there’s no legal holiday involved, can we just consider the expiration to be the following Monday? Pick the best answer:
A. Yes.
B. No.
C. It depends on whether the seller has provided all the seller’s disclosures and reports.
D. It depends on whether we are the buyer’s agent or listing agent. (more…)
June 11th, 2018 at 11:45 pm
Fact Pattern: I am the listing agent. My clients wanted to hold off on looking at offers until after we had our open house this weekend. At their instruction, I wrote in the MLS: “Seller to review all offers on June 18.” I just got a fantastic offer today (June 11) that will expire within 24 hours. My sellers are likely to accept this offer.
Question #1: Am I obligated to present the offer to my clients now or can I wait until June 18? (more…)
June 4th, 2018 at 12:01 pm
Question: I am the listing agent. In response to an offer we received, my seller wants the buyer to pay for the smoke detectors, water heater bracing, and any other mandatory point-of-sale requirements. All we have to do is counter paragraphs 7B(1) and (2) of the Residential Purchase Agreement and say “Buyer” instead of “Seller” shall pay for those items. Is this advisable? (more…)
May 29th, 2018 at 1:36 pm
Question: I am the buyer’s agent. We are writing an offer using the C.A.R. Contingency for Sale of Buyer’s Property (COP). We plan to check the very last box of the COP, so that, for the entire duration of the agreement, the sellers cannot cancel on us even if they accept a backup buyer. That also means that the sellers have no other right to cancel under the COP, correct? (more…)
