January 22nd, 2018 at 2:50 pm
Multiple Choice Question: We are the buyer’s agent for a “pocket listing” that is not in the MLS. The agent representing the seller works for another brokerage. What form do we use to make sure we get paid a commission? Pick the best answer:
A. Buyer Representation Agreement – Exclusive.
B. Cooperating Broker Compensation Agreement.
C. Single Party Compensation Agreement.
D. All of the above. (more…)
January 15th, 2018 at 9:51 am
Starting January 1, 2018, a new law requires a home inspection for the sale of one-to-four residential units to include a noninvasive physical examination of the pool or spa. Additionally, the home inspection report must identify which, if any, drowning prevention safety features the pool or spa is equipped with. The inspection report must also call out any pool or spa that does not have at least 2 of 7 acceptable safety features. (more…)
January 8th, 2018 at 8:01 am
Question: In last week’s summary of the new 2018 laws, you said that a landlord cannot evict a tenant based on his or her immigration or citizenship status. Can a landlord, who is prescreening prospective tenants, ask for verification of an applicant’s immigration or citizenship status? (more…)
January 1st, 2018 at 2:45 am
Happy New Year Everyone! The New Year brings new laws that may affect your real estate practice. Here are some highlights:
Overhauling Income Tax: Starting with the 2018 tax filing year, the federal Tax Cuts and Jobs Act reduces the marginal tax rates for individual taxpayers. Standard deductions have essentially been doubled to $12,000 if single, and $24,000 if filing a joint return, but this benefit to taxpayers is offset by the elimination of personal exemptions. (more…)
December 26th, 2017 at 12:19 pm
Multiple Choice Question: I am the buyer’s agent for a new sales transaction. The buyer wants to inspect the property on Sunday, December 31, 2017, accompanied by his brother-in-law who so happens to be a professional inspector. It’s their only available day as they both live out-of-state. It’s also well within the buyer’s 17-day inspection period. The sellers, however, refuse to allow any inspections on December 31. They will be hosting a very large and elaborate annual New Year’s Eve party. They say the Residential Purchase Agreement (RPA) allows them to refuse access. Who is right? Pick the best answer.
A. The seller, because the seller can refuse access on a legal holiday.
B. The seller, because the seller can refuse access on a Sunday.
C. The seller, because the brother-in-law is not a California inspector. The buyer can hire a California inspector to inspect on any other day. After all, inspectors generally do not even work on Sundays.
D. The buyer, because the buyer has access for 17 calendar days. (more…)
