June 5th, 2023 at 2:32 pm
Fact Pattern: A seller and buyer enter into a C.A.R. Residential Purchase Agreement (RPA). The buyer’s agent does not provide any Designated Electronic Delivery Address (DEDA). The seller has 7 days after acceptance to provide the seller disclosures to the buyer (under paragraph 3N(1) of the RPA). On Day 7, the listing agent emails the seller disclosures to the buyer’s agent. The buyer’s agent, however, does not check her emails until 2 days later (or Day 9).
Multiple Choice Question: When does the “Delivery” of the seller disclosures occur, as according to the RPA? Pick the best answer:
A. Day 7.
B. Day 9.
C. It depends on whether Day 7 is a Saturday, Sunday, or legal holiday.
D. It depends on whether Day 9 is a Saturday, Sunday, or legal holiday. (more…)
May 22nd, 2023 at 3:55 pm
Fact Pattern: You are the listing agent for a pending sales transaction. Many weeks into escrow, you discover for the first time that the buyer is the cousin of the buyer’s agent.
Multiple Choice Question: Has the buyer’s agent violated his or her duty to disclose that familial relationship when submitting the buyer’s offer? Pick the best answer:
A. Yes, as a matter of both law and ethics.
B. Yes, as a matter of law only.
C. Yes, as a matter of ethics only.
D. No. (more…)
May 22nd, 2023 at 3:52 pm
Fact Pattern: You are the listing agent for a property for lease. The total commission is 8%, and you have offered 4% to a cooperating broker through the MLS. A tenant is interested in leasing the premises. The tenant is not represented by any agent. To complete the lease form, you must fill in the Confirmation of Agency Relationships in paragraph 41 of C.A.R.’s Residential Lease or Month-to-Month Rental Agreement (RLMM).
Multiple Choice Question: How should you complete the blank spaces for the Tenant’s Agent in the RLMM? Pick the best answer:
A. Insert your name as the tenant’s agent (dual agency).
B. Refer the tenant to another agent, and insert that other agent’s name.
C. Insert the tenant’s name.
D. Insert “None.” (more…)
May 8th, 2023 at 1:55 pm
Fact Pattern: A buyer enters into a sales contract using the C.A.R. Residential Purchase Agreement (RPA). All timeframes in the “Contingencies” section (paragraph 3L) of the RPA default to 17 days. During escrow, the buyer removes all contingencies. A few days later, the buyer asks for access to the property to conduct a mold inspection.
Multiple Choice Question: Must the seller allow the buyer access to the property? Pick the best answer:
A. Yes, because that would be “best practices.”
B. Yes, if within the first 17 days after acceptance.
C. No, because the buyer has already removed all contingencies.
D. No, because the buyer is just trying to find a way to cancel. (more…)
May 1st, 2023 at 3:02 pm
Successfully negotiating the Request for Repair is one of the final hurdles before reaching the “close of escrow” finish line. Unfortunately, however, it can be challenging sometimes navigating your way when using the C.A.R. repair forms (RR and RRRR). Here are 7 quick tips for you to help your clients conduct their Request for Repair negotiations, including some common pitfalls to avoid: (more…)
