March 3rd, 2025 at 2:58 pm
Fact Pattern: A buyer submits an offer to purchase using a C.A.R. Residential Purchase Agreement (RPA). The buyer also submits a loan approval letter from Lender A. The parties enter into a binding purchase agreement. During escrow, the buyer makes a lot of demands, and the seller is fed up. At the 11th hour, Escrow asks the seller to sign an amendment to the Escrow Instructions indicating that the buyer’s lender will be Lender B (not Lender A). Lender B specifically requires this Escrow Amendment. The seller refuses to sign the Amendment.
Multiple Choice Question: What does the RPA say about this situation? Pick the best answer:
A. The seller is required to sign the Amendment.
B. The seller is not required to sign the Amendment.
C. If the seller does not sign the Amendment, the buyer can serve a Notice to Seller to Perform (NSP).
D. The seller must sign the Amendment under the seller’s obligation to act in good faith and deal fairly with the buyer. (more…)
February 24th, 2025 at 2:42 pm
Multiple Choice Question: You are a buyer’s agent with an exclusive C.A.R. Buyer Representation and Broker Compensation Agreement (BRBC). Which of the following statements is true? Pick the best answer:
A. You should give the buyer a list of properties to establish Broker Involvement.
B. For a BRBC cancellation, you should give the buyer a list of properties within 5 days after receiving a notice of cancellation from the buyer.
C. For a BRBC expiration, you should give the buyer a list of properties before the expiration of the BRBC.
D. All of the above. (more…)
February 17th, 2025 at 1:32 pm
Fact Pattern: You are a buyer’s agent. You enter into a 2-month exclusive representation agreement using C.A.R.’s Buyer Representation and Broker Compensation Agreement (BRBC). Under paragraph 2A of the BRBC, your Representation Period begins on February 1, 2025 and ends on March 31, 2025. Under paragraph 2B, the buyer is looking to buy a home in San Diego County. Under paragraph 2E, you have no “Continuation Period.” Under paragraph 2F, either side can cancel the BRBC with a 30-day written notice. On February 17, 2025, the buyer submits to you a 30-day notice of cancellation effective March 19, 2025.
Multiple Choice Question: Which one of the following statements is false? Pick the best answer:
A. You must continue to show properties to the buyer until March 19, 2025.
B. You will be entitled to compensation if the buyer enters into a contract to buy a San Diego home before March 31, 2025.
C. Any list of properties with Broker Involvement must be given to the buyer by March 24, 2025.
D. If the buyer’s offer to purchase a property with Broker Involvement is accepted by the seller after March 31, 2025, you will have no right to compensation. (more…)
February 10th, 2025 at 4:32 pm
On February 4, 2025, Governor Gavin Newsom revised California’s anti-gouging protections for rental housing, that’s currently in place to protect victims of the L.A. fires. Here’s a quick summary of the changes: (more…)
February 3rd, 2025 at 5:17 pm
Multiple Choice Question: What is the maximum security deposit that a residential landlord can generally collect upfront for a lease or month-to-month rental agreement for a term of 30 days or more? Pick the best answer:
A. The dollar equivalent of one month of rent.
B. The dollar equivalent of one month of rent, plus a pet deposit.
C. The dollar equivalent of 2 months of rent.
D. The dollar equivalent of one month of rent, plus at least 6 months of rental payments. (more…)
