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FENCES, WALLS & VIEWS — 2017

FENCES, WALLS AND VIEWS View Rights Don’t Exist in California. You just purchased a hillside home with a view. Your neighbor constructs a new 2 story home and plants a row of trees which destroys your view. It may surprise you to learn that there is probably nothing you can do about it. You do […]

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ADVERTISING ANOTHER AGENT’S LISTINGS

ADVERTISING ANOTHER AGENT’S LISTINGS Can one salesperson advertise another salesperson’s listings? The general answer is “NO” subject to the following exceptions. Permission. A salesperson who is also a “RealtorĀ®” is subject to NAR’s Code of Ethics. A salesperson who is also a member of a Multiple Listing Service is subject to the MLS Rules. Standard […]

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COMMISSIONS: OUT-OF-STATE TRANSACTIONS

COMMISSIONS: OUT-OF-STATE TRANSACTIONS An agent can earn a commission on out-of-state transactions, but must follow some simple rules set forth below. 1. Representing a buyer in purchasing an out-of-state property. In this example, the California agent represents a buyer in purchasing an out-of-state property. This means a California agent is representing a California buyer purchasing […]

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IDENTIFICATION IN ADVERTISING MATERIAL 2017

NEWSLETTER IDENTIFICATION IN ADVERTISING MATERIAL 2017 General Advertising. Advertising requirements have been in a constant state of uncertainty since they became a legislative concern in 2008. In 2016, California Association of RealtorsĀ® sponsored AB1650 which clarified standardized disclosure requirements as follows: 1. Requires real estate agents to include the following information on all “Solicitation Material:” […]

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C.A.R. RESIDENTIAL PURCHASE AGREEMENT

BUYER TO PERFORM (“NBP”); NOTICE TO SELLER TO PERFORM (“NSP”); DEMAND TO CLOSE ESCROW (“DCE”). C.A.R. RESIDENTIAL PURCHASE AGREEMENT The RPA requires (i) buyers and/or sellers to respond to a NBP or NSP within 2 “days after” delivery and (ii) buyers and/or sellers to respond to a DCE within 3 “days after” delivery. The RPA […]

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RESIDENTIAL LISTING AGREEMENT

RESIDENTIAL LISTING AGREEMENT Listing Agents can preserve their right to commission after Expiration or Cancellation of the Residential Listing Agreement (“RLA”) by doing the following: 1. Fill-in “calendar days” in paragraph 3(A)(2) of the RLA; and 2. Send a PROSPECTIVE BUYER NOTICE to seller identifying all “Prospective Buyers” NO LATER THAN THE END of the […]

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PROSPECTIVE BUYERS in the RLA

RE: Residential Listing Agreement (RLA): Who are PROSPECTIVE BUYERS in the RLA? Paragraph 3A2 allows the agent to recover commission after the expiration or cancellation of the listing period if buyer contracts to sell, lease or option the Property to any PROSPECTIVE BUYER (defined below) who saw the Property during the listing period. Paragraph 3A2 […]

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AGENT INSPECTION & DISCLOSURE

INSPECTION AND DISCLOSURE 1. RESIDENTIAL PROPERTIES: 1-4 dwellings. If a Property is mixed use, then the agent’s inspection duties apply to the “Residential” portion only. 2. INSPECTION OBLIGATION: An agent has a duty to conduct a reasonably competent “visual” inspection of each “Residential” property and disclose any “defects” that affect: a. Market value or b. […]

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R: FIRPTA: AGENT LIABILIY

FIRPTA: AGENT LIABILITY The purpose of the FIRPTA is to tell the buyer that seller is exempt from withholding both federal and California withholding requirements. IRS Section 1445; California Revenue & Taxation Code Section 18662. When is a FIRPTA required to be given to a Buyer? FIRPTA is required anytime a seller is claiming an […]

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LISTING AGREEMENTS: PROSPECTIVE BUYERS

LISTING AGREEMENTS: PROSPECTIVE BUYERS PROSPECTIVE BUYER This is an advisory to listing agents to protect their right to commission upon expiration or cancellation of the listing period. A PROSPECTIVE BUYER is a person who either: (1) viewed the property during the listing period or; (2) wrote an offer for the property during the listing period. […]

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