July 25th, 2022 at 3:14 pm
Multiple Choice Question: Which of the following is a true statement about home inspectors? Pick the best answer:
A. They must be licensed.
B. They can be certified.
C. They can offer their buyer-clients a nice discount on repair services after close of escrow.
D. All of the above. (more…)
July 18th, 2022 at 4:06 pm
Fact Pattern: A buyer is in a pending purchase transaction using the C.A.R. Residential Purchase Agreement (RPA). The buyer has a loan contingency that generally allows the buyer to cancel if he does not get an $850,000 loan. However, the buyer did not insert any interest rate in the blank space provided in paragraph 3E(1), where it says: “Fixed rate not to exceed ___%.”
Multiple Choice Question: What is the meaning of the blank space for the interest rate? Pick the best answer:
A. Zero.
B. Any.
C. Best prevailing.
D. Reasonable. (more…)
July 11th, 2022 at 1:16 pm
Multiple Choice Question: You are the buyer’s agent for a pending sales transaction using the C.A.R. Residential Purchase Agreement (RPA). Your buyer’s appraisal report just came in. The appraised value is greater than the purchase price. Is the buyer required to give the seller a copy of the appraisal report? Pick the best answer:
A. Yes.
B. Yes, if the buyer has an appraisal contingency.
C. Yes, if the buyer is getting an FHA or VA loan.
D. No. (more…)
July 5th, 2022 at 2:47 pm
A few weeks ago, C.A.R. released its June 2022 Forms Release with 6 new forms and 36 revised forms. Here are some helpful frequently-asked questions about the forms from our own agents: (more…)
June 27th, 2022 at 4:09 pm
Agents and their clients may be experiencing some difficulties understanding and completing C.A.R.’s Fire Hardening and Defensible Space Disclosure and Addendum (FHDS) (revised June 2022). Both the FHDS form and the underlying laws pertaining to the form are complicated. Below are comprehensive guidelines addressing the legal and practical issues that are commonly raised by the FHDS. (more…)
