January 30th, 2023 at 2:17 pm
Fact Pattern: Your client, a prospective buyer, wants to buy a condo to rent the unit out. The condo’s listing agent from another brokerage tells you and your client that, based on a recent new law, the HOA cannot prohibit rentals.
Multiple Choice Question: Is the listing agent correct? Pick the best answer:
A. Yes.
B. No.
C. It depends on what the HOA docs say.
D. Unclear. (more…)
January 23rd, 2023 at 3:06 pm
Fact Pattern: A seller enters into a contract with Buyer #1. The seller provides Buyer #1 with a repair estimate for seemingly minor and non-urgent repairs in the patio area. Buyer #1 eventually cancels for other reasons. The seller has now told the listing agent that the seller still wants to disclose the patio issues to the next buyer, but the seller wants to exclude the repair estimate from the disclosure packet.
Multiple Choice Question: Is the seller legally required to provide a buyer with the repair estimate? Pick the best answer:
A. Yes.
B. Yes, for one-to-four residential unit transactions only.
C. No.
D. Unclear. (more…)
January 9th, 2023 at 1:30 pm
Fact Pattern: A seller’s mother lives in a granny flat above the garage. The buyer and buyer’s agent have no idea that Granny lives there, because she was out of town when they previewed the property. The buyer and seller enter into a C.A.R. Residential Purchase Agreement (RPA) revised December 2022. Now that escrow is about ready to close, the seller says that Granny will be remaining in the granny flat after close of escrow.
Multiple Choice Question: Can the buyer demand that Granny vacates the premises before escrow closes? Pick the best answer:
A. Yes.
B. No.
C. It depends.
D. Unclear. (more…)
January 2nd, 2023 at 2:05 pm
Happy New Year Everyone! A New Year brings new California laws that may affect your real estate practice. Here are some of the 2023 highlights: (more…)
December 19th, 2022 at 2:49 pm
On December 20, 2022, C.A.R. plans to roll out its December 2022 Forms Release. The biannual standard-forms update includes 5 brand-new forms (SPBB, SOLAR, BTA, ABCD, and RPOD), and 30 revised forms. Here are some of the highlights: (more…)
