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disclosures: When are disclosures and documents due using a CAR contract? - 08/14/11 07:34 PM
Hi All!
Received an email from a student named Debbie about time frames for disclosures and documents. Here's my response. I hope it helps! :-)
 
Debbie: We (company) are using Docusign which is a great time saver but I’m still confused as to how to determine time frames for all the various disclosures to be completed.  Any help or suggestions I can get is appreciated.  
 
Diana: If you take a look at the CAR contract, the seller usually has 7 days  from acceptance to deliver all required disclosures and reports to the buyer. (See page 5 14A) .
… (2 comments)

disclosures: Disclosure Updates for California - 01/24/11 01:07 PM
WooHoo! CAR has released their 2011 disclosure requirements. Here
are several items I'm paying attention to for this year;
Smoke Detector and Water Heater Statement of Compliance
Hooray for California Association of REALTORS® for incorporating the smoke detector and water heater statements of compliance into the Real Estate Transfer Disclosure! As a result CAR has indicated if the RETDS is used, a separate disclosure is not necessary. This means one less disclosure to track and obtain signatures!
I have just one teeny, tiny concern though. For the newer real estate agent, they may not know what the compliance law is and … (0 comments)

disclosures: Stuff Your Broker Never Told You! - 07/22/10 12:29 PM
Brokers are great at teaching agents how to create a pipeline of business, but have difficulty breaking down the complex aspects of the pending sale into a clear, understandable format.
Throw in the fact every transaction is different and may require a different set of rules makes it even more challenging to offer advice.
Truth be told, it doesn't matter how many transactions you have, but how many you successfully close and are paid (It Ain't Over Till It's Over, Baby!).
Remember, closed transactions you are paid on but come back later to bite you in the you-know-what as lawsuits, or … (6 comments)

disclosures: Before a Buyer Removes an Inspection Contingency - 06/09/10 11:38 AM
Before your buyer signs the contingency removal, several things should be accomplished. Be sure to create a checklist for yourself to ensure the following are complete;
1-All required disclosures for the property have been received, reviewed AND signed off by the buyer.
This MUST be done for paper trail purposes. Two years from now when you are in front of Judge Judy, it's not going to matter that you did deliver the documents to the buyer prior to the contingency removal but did not get them signed until after! 
2-All reports generated received, reviewed and signed off by the buyer.
Ditto … (2 comments)

disclosures: Is my yellow highlighter illegal? - 04/30/08 02:43 PM
No, I have not been sniffing the fumes to get high. But I have been using it to highlight the areas we want our clients to sign and date.
I was teaching a transaction management class last week in Sacramento and while I was boasting about my highlighting expertise, a student mentioned she had taken a contract class earlier in the week and the instructor said use of a highlighter on a contract/addendum or disclosure is a no-no! However, using a "sign here" sticky is acceptable.
The reason given is that it encourages the client to sign documents without fully reading what … (14 comments)

 
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Diana Turnbloom

Martinez, CA

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Escrowcoord.com

Office Phone: (925) 305-9625

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