July 20th, 2020 at 12:52 pm
Fact Pattern: You are the listing agent. You had the seller complete the TDS that C.A.R. revised back in December 2019. Now in July 2020, your seller has just entered into a binding contract with a buyer.
True or False? Given that C.A.R. published a revised TDS form in June 2020, the seller must redo the TDS on the June 2020 form. Is that statement true or false? (more…)
July 12th, 2020 at 7:16 pm
Question: Is it a good idea to maintain a conversation log? (more…)
July 6th, 2020 at 12:48 pm
Fact Pattern: You are the listing agent for a pending sales transaction. The seller fills in the seller’s Sections I and II of the TDS. You fill in the listing agent’s Section III of the TDS by checking the box for the buyer to refer to your Agent Visual Inspection Disclosure (AVID). You then email only the TDS to the buyer’s agent on July 6. You do not email your AVID to the buyer’s agent until July 12.
Multiple Choice Question: Under the TDS law, the buyer has a 5-day right to cancel upon delivery of the TDS by email. In this situation, on what day does the buyer’s 5 days begin to run? Pick the best answer:
A. July 6.
B. July 12.
C. When the buyer’s agent delivers the TDS and AVID to the buyer.
D. When the buyer’s agent fills in Section IV of the TDS, and delivers the TDS and 2 AVIDs to the buyer. (more…)
June 29th, 2020 at 1:25 pm
Question: Last week, you advised us that sellers must check one of the 3 boxes in Section I of the TDS. Otherwise, a buyer who has removed all contingencies may nevertheless try to cancel and retain the deposit by claiming that the TDS is not complete. Which of the 3 boxes should a seller check in Section I? (more…)
June 22nd, 2020 at 2:21 pm
C.A.R. is scheduled to release its biannual standard forms update this week, including 2 new and 11 revised forms. None of these forms are COVID-related forms. Here are some of the highlights of C.A.R.’s Forms Release: (more…)
