legal: When a Buyer really should sue you….. - 01/24/09 12:07 PM
When a Buyer really should sue you…..
Having been in this business for many years, I never cease to be amazed at how cavalier some agents are with other people’s money and contract rights. It seems like another cycle of “sue-the-agent” for negligence and unprofessional conduct has begun with no … (0 comments)
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legal: Watch Out for Local Association Vigilantes - 08/26/08 03:25 AM
As a Principal Broker, I regularly monitor state and local disciplinary proceeding to keep abreast of any trends or emerging real estate practice areas that are problems I should be aware of for my own company. Fortunately, my local Association (NVAR) has fairly reasonable folks serving on grievance and disciplinary panels. … (4 comments)
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legal: No More Junk Faxes Unless They Already Have An EBR................. - 07/21/07 05:00 AM
As noted by NAR, on Saturday, July 9th, 2005, President Bush signed S. 714, the Junk Fax Prevention Act, into law. The newly signed law does not legalize unsolicited fax advertisements or solicitations but does allow for an established business relationship exception. In summary, the new fax law is effective immediately … (5 comments)
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legal: Emotional Distress Claim - Developing Gestational Diabetes - Subject to Arbitration - 07/19/07 03:12 PM
A California court has considered whether an arbitration clause in purchase agreement could still be invoked when the clause excluded claims for bodily injuries and buyer claimed to have contracted gestational diabetes from the distress caused by the property’s termite infestation. Denna and Kenny Gravillis, Jr. (“Buyers”) purchased a home. The … (0 comments)
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legal: Finally - Bill Making Mortgage Fraud a Crime - 07/06/07 06:23 AM
Newly approved legislation criminalizes mortgage fraud for the first time in Florida, where the crime has reached epidemic levels in the wake of a real estate boom fueled in part by risky loans. Florida leads the nation in mortgage fraud, and Miami-Dade and Broward counties lead the state. Senate Bill 1824 … (5 comments)
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legal: Is your 1031 Exchange Client getting ready to jump? - 06/29/07 03:39 PM
Before you “help” a prospect or client enter into a contract to participate in a 1031 Exchange, be certain both of you understand what you are about to do.
Taxpayers use Internal Revenue Code (IRC) §1031 tax deferred exchanges to defer paying capital gain taxes. Frequently, a taxpayer may … (4 comments)
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legal: Minnesota Caller Ordered to Pay Brokerage $20,000 - 06/29/07 05:13 AM
A Missouri court became the second court to enter an injunction against Ryan Swanberg (“Caller”) and ordered him to pay approximately $20,000 in damages and attorney fees. The Caller had threatened real estate brokerages across the country with litigation last fall for allegedly not complying with the federal “Do Not Call” … (9 comments)
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legal: Broker commits fraud - pays punitive damages - 06/29/07 05:04 AM
A California court has considered the appropriate level of damages that a buyer could recover after he was misled by broker. In July 2001, John Warren (“Buyer”) became interested in purchasing a property listed for sale by real estate broker Hildegard Merrill (“Broker”). However, the Buyer had a lot of … (5 comments)
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legal: Developer failure disclose soil problems remanded to trial court for further review - 05/18/07 05:58 AM
Utah’s highest court considers whether home developer had a duty to give purchasers a prior soil analysis report finding that the property’s soil could not support a large structure. Woodside Homes Corporation (“Developer”) purchased land to develop into the “Panorama Point” subdivision (“Subdivision”). One of the lots was purchased from the … (0 comments)
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legal: How Agressive Should You be in Seeking Back-up Offers? - 05/04/07 05:44 AM
Alaska’s highest court has considered whether a listing broker improperly marketed a property in the MLS as “active” even though the property was still under contract. In 1998, Craig Lightle (“Salesperson”) of Realty Executives Alaska (“Brokerage”) listed a home for sale. On April 17th, the Williamses (“Buyers”) made an offer to … (5 comments)
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legal: Anti-Leasing Covenant Found to Violate FHA - 04/26/07 05:12 PM
An Indiana court has considered whether a homeowner’s association enforcement of an anti-leasing covenant violated the federal Fair Housing Act (“Act’). In 1996, Algie and Edna McGlothin (“Owners”) purchased a residence in a housing complex known as Villas West II of Willowridge (“Villas”). The Villas were originally managed by the Jim … (3 comments)
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legal: "You talkin' to me???" - 04/19/07 11:44 AM
Injunction Entered against Minnesota CallerA Minnesota federal court has entered an injunction against Ryan Swanberg (“Caller”), who had threatened real estate brokerages across the country with litigation last fall for not complying with his request for their company “Do Not Call” policy within five days of the request. The injunction … (1 comments)
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legal: Commission Awarded from Second Purchase Contract - 04/12/07 03:03 PM
A Missouri appellate court has considered whether a buyer’s representative could recover a commission when a buyer purchased property following the expiration of the buyer’s representation agreement after the initial purchase agreement between the parties had terminated because of the buyer’s inability to obtain financing. Patricia Zoll (“Buyer”) entered into a … (0 comments)
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legal: Not in my neighborhood please……………………… - 03/22/07 11:47 AM
As reported by the Associated Press, The Happiest Place on Earth doesn’t want any new neighbors. The Walt Disney Co. has sued the city of Anaheim to stop the proposed construction of 1,500 condos, including several hundred low-income units, at the doorstep of Disneyland. Housing advocates say the units are … (2 comments)
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legal: Prospective Buyer Cannot Recover for Injuries - 03/16/07 12:59 AM
An Ohio appellate court has considered whether a prospective buyer could recover compensation from a buyer’s representative for injuries suffered by the prospective buyer during her unaccompanied tour of a home under construction. Patricia Al-Sorghali (“Prospective Buyer’) contacted real estate salesperson Terry Golden (“Salesperson”) of Modene & Associates (“Brokerage”) about her … (15 comments)
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legal: Injunction Granted in Ohio Cybersquatting Case - 03/11/07 07:50 AM
An Ohio federal court
determines that large brokerage is likely to succeed in its cybersquatting
lawsuit against a competitor who had registered domain names which bore a
strong resemblance to the brokerage’s registered trademarks and owner’s names,
and so the court entered an injunction prohibiting the competitor from using
these … (2 comments)
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legal: Counteroffer Is a Rejection of Earlier Offer - 03/06/07 06:45 PM
Counteroffer Is a Rejection of Earlier Offer A Florida court has considered whether a prospective buyer could choose to accept a seller’s counter offer to the prospective buyer, even after the prospective buyer had countered the seller’s counter offer. Theresa Polk (“Seller”) listed 181 acres of land for sale with a … (33 comments)
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legal: Broker Liable For Changing Terms of Partnership - 02/17/07 08:22 PM
A Maryland appellate court has evaluated whether a managing broker improperly attempted to alter partnership agreement between parties. In 2001, Aaron Hargrove (“Hargrove”) and Jerry Mathis (“Managing Partner”) of Prudential REALTORS® and Mathis Realty, Inc. (collectively, “Brokerage”) entered into an independent contractor agreement (“Agreement”). Under the terms of the Agreement, Hargrove … (4 comments)
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legal: Nondisclosure Alone Cannot Overturn Arbitration - 02/17/07 06:24 PM
Federal appellate court reverses its earlier decision and determines that arbitrator’s failure to disclose his minimal contact with prevailing party’s attorney did not require vacating an arbitration award. New Century Mortgage Corporation (“New Century”) is a mortgage company. Positive Software Solutions, Inc. (“Positive”) has developed software for the mortgage industry, including … (0 comments)
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legal: Realtor’s attorney defends 'white-flight' flyer incident - 02/09/07 12:48 PM
Merrillville, Ind., Realtor Mary Ann Winslow maintains her intentions were pure after town officials accused her of using scare tactics to encourage white homeowners to move from their neighborhood by citing a bogus bill that threatened to incorporate parts of the town and lower home values. So why did she do … (8 comments)
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