October 16th, 2023 at 4:00 pm
Fact Pattern: You are the buyer’s agent for a pending sales transaction using the C.A.R. Residential Purchase Agreement (RPA). Your buyer is protected by certain contingencies, including loan, appraisal, investigation, and the review of seller documents. Your buyer has decided to cancel. You have suggested certain options for moving forward with the deal, but your buyer just wants to cancel. The listing agent demands to know the reason that the buyer is cancelling.
Multiple Choice Question: Is the buyer required to give the seller a reason for cancelling? Pick the best answer:
A. Yes, as required under paragraph 14 of the RPA.
B. Yes, as required under the buyer’s obligation to act in good faith and deal fairly with the seller.
C. No, the buyer can cancel under any of the buyer’s contingencies.
D. No, the buyer can cancel for any reason. (more…)
October 9th, 2023 at 12:57 pm
Multiple Choice Question: Can a seller demand that a buyer use a certain title insurance company? Pick the best answer:
A. Yes.
B. Yes, if the seller is paying for the homeowner’s title insurance policy.
C. No, if the transaction falls under RESPA, which pertains to sales involving one-to-four residential units with a federally-related mortgage loan.
D. No. (more…)
October 2nd, 2023 at 1:47 pm
Multiple Choice Question: Which of the following is a true statement? Pick the best answer:
A. A landlord must allow a disabled tenant’s service animal.
B. A landlord must make reasonable accommodations for a disabled tenant’s support animal.
C. A landlord can prohibit pets.
D. All of the above. (more…)
September 24th, 2023 at 11:56 am
Fact Pattern: You are the listing agent for a sales transaction using C.A.R.’s Residential Purchase Agreement (RPA). After contract acceptance, the buyer’s agent, John Doe, sends over a one-page, stand-alone Designated Electronic Delivery Address Amendment (DEDA Amendment). He wants you to complete and sign that form.
Multiple Choice Question: What should you do? Pick the best answer:
A. If John Doe merely inserted his own DEDA email address on the DEDA Amendment, go ahead and sign and return the form.
B. If John Doe merely inserted his own DEDA email address on the DEDA Amendment, go ahead and insert your DEDA email address, and sign and return the form.
C. If John Doe inserted both his own and your DEDA email addresses, go ahead and sign and return the form.
D. Do not sign or return the form. (more…)
September 18th, 2023 at 2:30 pm
What is a DEDA?
A DEDA or “Designated Electronic Delivery Address” is a specially designated email address (and/or texting phone number) of a real estate agent involved in a sales transaction under C.A.R.’s Residential Purchase Agreement (RPA). When agents voluntarily check their own “DEDA” checkbox, any RPA-related documents from the other side of the transaction shall be deemed delivered when such documents are sent to that DEDA (see paragraph 25K of the RPA). As an example, let’s say that a buyer’s agent checks the box agreeing that his or her own email address will be used as a DEDA. In that case, an RPA-related document (such as notices, disclosures, and reports) that the listing agent emails to that DEDA shall be deemed delivered to the buyer’s agent when the listing agent sends the email, regardless of whether or when that buyer’s agent actually receives the email. (more…)
