May 29th, 2018 at 1:36 pm
Question: I am the buyer’s agent. We are writing an offer using the C.A.R. Contingency for Sale of Buyer’s Property (COP). We plan to check the very last box of the COP, so that, for the entire duration of the agreement, the sellers cannot cancel on us even if they accept a backup buyer. That also means that the sellers have no other right to cancel under the COP, correct? (more…)
May 21st, 2018 at 10:46 am
Multiple Choice Question: I am the listing agent for a property listed in the MLS for $2 million with a 3% commission offered to the cooperating broker. The seller has been going back and forth negotiating with a buyer, but they are still $20,000 apart on price. The seller now wants to write in a counter offer that each broker will give up $10,000 of their respective commissions. Can a seller do that? Pick the best answer:
A. Yes.
B. No, it’s illegal to write a commission reduction in a counter offer.
C. No, it’s unethical to write a commission reduction in a counter offer.
D. No, it’s a violation of the MLS rules to write a commission reduction in a counter offer.
E. Answers B, C, and D are all correct. (more…)
May 14th, 2018 at 1:49 pm
Question: I am the buyer’s agent. When we first previewed the property listed by another company, it had a big gate out front. Even the description of the property in their marketing brochure started with the sentence: “A gated entrance leads to this 5-bedroom, 4-bath private enclave on over an acre.” By the time we wrote an offer only a few days later, believe it or not, the $13,000 gate was gone. We are now in escrow. Is the buyer entitled to a credit or for a gate to be included in the purchase? (more…)
May 7th, 2018 at 11:32 am
Question: I am the listing agent in a multiple offer situation. I also represent the buyer for one out of 4 offers submitted. Can I tell my buyer what the other 3 buyers have offered?
Answer: This is a tricky question. (more…)
April 30th, 2018 at 2:01 pm
True or False:
1. The law generally requires a real estate agent to complete an Agent Visual Inspection Disclosure (AVID) for the sale of one-to-four residential units.
2. An agent’s visual inspection is not legally required for probate sales, foreclosure sales, and most trust sales.
3. A listing agent should complete an AVID as soon as possible.
4. A buyer’s agent should wait until the last minute to complete an AVID. (more…)
