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Blog entries tagged with "disclosure":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
blog entries are provided here as a courtesy to
our visitors to help them make an informed decision when buying or selling a house. ActiveRain
Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
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I've alluded in several posts to my disdain for dual agency, and the agents who practice it. First, let me define dual agency as practiced in real estate. This is the practice whereby a single agent represents both the buyer and seller as clients in a sales transaction. If done "properly," the agent … (0 comments)
In my office, we have an educational session (which we call Focus Groups) once a week instead of "rah,rah sales meetings". At a recent session, the speaker was talking to us about what we should tell our buyers regarding "mold" and "radon". 
Gomer Pyle Time.
In the world of real estate, there is nothing worse than a lawsuit. They are the bubonic plague of free markets, carried by rats and infecting the most industrious first. The only winners are the attorneys, and most of us would rather not see attorneys make money (or live, for that … (0 comments)
A home buyer writes that she bought a home under false pretenses.In the seller disclosure, the home seller said she was moving to a retirement community, but it now appears she moved to get away from rotten neighbors. Does the buyer have recourse? Do seller disclosure laws require mentioning rotten and … (2 comments)
With all the responsibilities of buying and selling real estate, the need for risk management is crucial.
I don't know how often I hear from agents that after making an offer, they got back an addendum from the REO Asset manager. NO, it is a counter offer. Anytime, the terms are changed, before the parties are in contract, we should be calling this a counter offer. The problem … (1 comments)
Last year I was selling a condo for a Client who had lived in it for over 30 years. Knowing the rule about "disclose, disclose, disclose," I picked his brain to try to find out everything he could remember about living there for 30 years, and I was successful at helping … (9 comments)
ROOM SIZES, that is...
Introduction
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… (4 comments)
Thank you to the Nebraska Realtors Association for bringing Bruce H. Aydt to Omaha to teach GRI 103: Ethics and Legal Issues. The class was held at the Scotts Conference Center on August 8th and 9th. Bruce has a regular column in
Something interesting, that I never noticed before, is that many agents do not utilize the satellite map feature available on our MLS listings. This came to light because one of my current listed properties is located in quite a large community where location within the community really makes a difference with … (4 comments)
As a first time homebuyer you spent hours finding scouring the internet for the perfect homes that met the criteria of your dream home. You took the time to find a knowledgeable loan officer to get pre-approved for a mortgage. With good faith estimates now in hand, you diligently searched for … (29 comments)
Is it just me or does anyone else get ticked off when you see a DiTech ad on TV. They are advertising an interest rate certainly better than I am offering on a daily basis. So, how do they do it?
Three emails I would really like to send:
In California, foreclosure sales are specifically made exempt from the statutory transfer disclosure requirement. Therefore, it’s anyone’s guess as to what problems may be inherent in the REO property one is purchasing. Thus it is all the more incumbent upon the buyer to obtain as many inspections as possible, including a … (0 comments)
Bank Owned Homes.Foreclosures. Corporate owned.
Got a call on my listing. Asked the guy the cardinal real estate question.....ARE YOU WORKING WITH A REALTOR? NO. Great. You want to see it at 3:00. Okay. My buyers specialist will meet you there.
Recently, I read the duties of a Florida REALTOR(r) when they act as a SINGLE AGENT. It reminds me of how my relationship with God should be. So I asked myself, "Are you a single agent of God?" 
Change, 
A fellow Active Rainer, David J., recently brought up an interesting subject when commenting on my blog post Willful Misrepresentation & Willful Ommission of Material Facts!. He mentioned that some agents don't recommend inspections to their buyer clients and even provided the following story to back it up:
We recently attended a roundtable discussion with Steve Greenberg, Real Estate Attorney with the firm Icard Merrill, and it would be impossible to share all of that. but a few of the high spots are right here. If just one of the tips below turns out to be a "Hey, it's news … (3 comments)
Disclosure: What Sellers Need to Know
States are cracking down on sellers' obligation to disclose known material facts about properties for sale—especially conditions not readily apparent, such as a cracked foundation. A material fact is anything that could affect the sale price or influence a buyer's decision to purchase a home. … (0 comments)
In today's declining market, we are seeing more and more spiffs for Buyer's Brokers i.e.: $$$$ bonus over and above the regular commission, vacation trips to your choice destinations, etc.
C.L.U.E. stands for the Comprehensive Loss Underwriting Exchange which is a huge database used by the insurance industry to track claims homeowners file against their homeowner's insurance policies. This information helps insurers avoid fraud and writing policies for people who make excessive claims, but this information also follows the home the … (4 comments)
For the last several months, we have been warning sellers that their association "may" ask to be paid BEFORE they will release their disclosure package and escrow statements to the title company. Traditionally, these fees have always been paid at closing. Some companies now want a partial payment, some more. When the title company … (1 comments)
Disclose, Disclose, DiscloseIn this political season, we hear the constant chant from all sides that contenders to high office must disclose everything about themselves, their finances, their choice of liquor when doing shots for the national media. Apparently, people want to know all.In the State of Minnesota, sellers of residential property … (0 comments)
This weekend we are introducing “Rosedale Cottage” to the Washington, DC market. And one of the big questions is about the wide green expanse next to and in back of the property. And it’s what makes the place feel like you’re out in the country, while you’re actually very close to … (6 comments)
7. Have your lawyer prepare your rental contract package.
Home sellers would rather not have problems with their home appear before their house is sold and homebuyers do not want to be stuck with problems that are discovered after they have already handed over their hard earned money and moved in.
Non-disclosure is the number one reason by a wide margin why agents are sued and/or lose their license. Whether they are trying to make a sale or just plain incompetent, all too often agents are selling homes without having all the facts or their clients best interest at heart. 
Phoenix made national headlines last week as a homebuyer takes his new home’s seller to court over a really obnoxious next-door neighbor.
I have received various opinions on this depressing topc, but need clarification for a borrower. If there was a death at a property, does it need to be disclosed in the "seller's disclosure"? Is the answer dependent upon which state the property is located in? This buyer is looking in Rhode … (10 comments)
… (5 comments)
I have one number that rings all my phones;
An interesting debate surfaced last week at my office and I thought I would throw it out to the Active Rain community. When you are representing a buyer and have just completed an inspection, how much information from the inspection report do you share with the seller and listing agent? Some, … (7 comments)
In Florida you can steal, rape and murder so long as you disclose the fact you are going to up front (well that may be a slight exaggeration). So, it always amazes me that sellers will try to cover up functional deficiencies in their houses. If they are disclosed the buyer … (1 comments)
A generalized cleaning will not remove the toxic waste and chemical residue of Meth production. Do not try to clean it yourself! Even law enforcement and other first responders face health risks when they enter a lab before it is cleaned or ventilated, unless they are protected by Haz-Mat gear. If … (7 comments)
Some ordinances just don't make sense. 
Whether you are selling your home or you have inherited a home that needs to be sold, one action item worth considering is a pre-listing home inspection. Many homeowners are surprised to find out that they have a defect such as mold in their attic or faulty wiring in their homes. … (0 comments)
Don't take the givens for granted.
In an effort to significantly improve the complicated, unclear and costly homebuying process, U.S. Housing and Urban Development Secretary Alphonso Jackson today proposed mortgage reform designed to help consumers better understand their loan terms so that they can shop more effectively for the largest purchase of their lives. HUD's proposal reforms … (0 comments)
Some states allow a broker to represent both the seller and the buyer in a transaction with written consent. The state of Virginia does. This is called Disclosed Dual Agency. This is likely to happen when a buyer client wishes to purchase a property listed with the agents office. Because statutes … (68 comments)
As the seller or buyer of a Northeast Florida home or condo, it is imperative that you understand the seller's disclosure responsibilities. 
A Mothers Nature and Mold: Forces to Reckon With
We all know how vital disclosure is in this business. We must tell a buyer everything that we consider to be materially significant. Sometimes our industry goes too far, sometimes not far enough. It got me thinking about other industries and things they must disclose. Here are just some of the … (6 comments)
After watching two recent contracts die because of home inspections, (plus two others in the past 1-2 years), I figure it's well past time to examine the current reality a bit more closely. Maybe it's just another reflection of the dizzying buyers' market, but we're seeing stuff we just haven't before. … (7 comments)
In the last entry we talked about how getting a CLUE report on a property helped the buyer re-negotiate a purchase after finding out about an un-disclosed fire. This time let's talk about what the seller could have done differently and how it might have affected the sale.The first thing is … (0 comments)
When you are out and about looking for you next house you will run into many different Realtors and you will be faced with a few different scenarios on how to be represented. Let me preface this by saying the best way to buy and sell Real Estate is to use … (6 comments)
I read that an agent was sued buy his buyer/client in an article I read from REALTOR® Magazine. This is taking place in North County California where the buyer claims that the agent did not disclose all of the comparable comps to them when they bought the home. While the agent claims … (14 comments)
I remembered reading some time ago about the need to disclose. Now, as a real estate consultant I know that this is important and ethical. But what do we disclose?
TIPS FOR SELECTING THE PROPER REALTOR FOR TODAY'S BUYER:
The arrival of the New Year also brought the arrival of a new Illinois Law. The Illinois Radon Awareness Act requires the seller of residential property (1-4 units) to provide the buyer with 2 additional documents. The first is a "Disclosure of information on Radon Hazards" form, and the second is … (5 comments)
In the news of late there have been prominant news stories featuring Curtis Dean Anderson, who recently died in a Bakersfield hospital and Michael Dodele, who was recently killed in Lakeport, CA by a neighbor. What do these two men have in common? Besides their current health status, they both are registered sex offenders and … (1 comments)
The Illinois lawmakers have established the mandate: every home sale contract that is dated January 1, 2008 and beyond must be accompanied by a radon gas disclosure, to be completed by the seller of the property. Some communities in the greater Chicagoland area have more of a problem with radon than … (1 comments)
When we first moved to Roanoke, Virginia, we had only been in the US for about two years after spending seventeen years in Atlantic Canada.
Aircraft noise is a concern in communities around an airport ... even moreso around Canada's busiest airport, Lester B Pearson International Airport (YYZ, aka Toronto Pearson, and to a lesser extent, LBPIA).
In some new developments, aircraft noise warning signs may be posted to warn of aircraft noise:
But you (and … (1 comments)
What do you think about the NC Real Estate Commission's decision to make written notice of agent bonuses to buyers? Personally, I think it's a great idea because it's basically putting in writing what we already spend the time to disclose to our buyers and sellers orally and if one doesn't take the time to … (2 comments)
I really need your help on this one, friends. 
As realtors, it is our duty and responsibility to protect the interests of our clients. Anything less is irresponsible and a violation of the code of ethics. I recently learned of a situation with a realtor whose client took pre-possession, only to learn that the finished basement had no heat or … (3 comments)
This Realty Times Article Highlights Information That is Valuable to Home Buyers
Including a link to The National Association of Exclusive Buyer Agents
It talks about the disadvantages of "one stop shopping" (as I also mention in my my recent blog post) -- how agency disclosure is at very low levels, … (0 comments)
At the NAR convention I attended Oliver Frascona's session on the 6 D's: Discover, Disclose, Damages, Defendants: Daily Decisions. I know, sounds boring. I think he needs to work on a catchier title. I signed up for this class solely to get continuing ed credit and not expecting much. However, this … (4 comments)
OK so now Auctionis the new rage in buying property. I just saw a story on the morning news cast about how many buyers are getting great deals at auctions. Well here is my personal experience from last week. I attended an auction for some land owned by ENRON. First, the auction … (7 comments)
You've found the home of your dreams, and you're preparing to make your offer. As you consider price and terms, be sure to include one of the most critical components of the offer - a home inspection contingency. The contract should clearly identify how any reported problems will be rectified.
OK. I looked it up on Wikipedia, and the tomato is indeed a fruit. And who knew that China was the world’s top producer of tomatoes? Just a quick note to Sondra…Reynoldsville may be the birthplace, but Slocomb is where the tomato was perfected! I digress. I do know where the … (0 comments)
I love Halloween and spend a lot of money to scare teenagers. (I try not to scare little kids.) But, this time ofyear you hear on the news of haunted houses and other strange things happening in houses.
When selling your home there is a laundry list of things to be done. From pricing to staging to open houses, there is a lot to prepare for. However, an important piece of selling your home is often one that is overlooked, that is the disclosure of any flaws or defects … (0 comments)
It is a common request, for "Family friendly" neighborhoods, or amenities.
So it's our job (as Appraiser's) to research the facts in historic sales for the Market Approach to value and now it's the Realtor's job to hide those facts. Just when I thought that groups like AR were bringing the RE industry closer together, the industry leaders attempt to keep us … (2 comments)
Here are my Core Values that I revisit daily to ensure I'm still inline.