ARCHIVED BLOG POSTS
2011
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Once the real estate contract has been signed, the licensees work has just begun. The parties to a transaction expect their sales associate personally to monitor and coordinate all the details of their closing. While the licensee may believe the "torch has been passed" to the next group of profes...
03/20/2011
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•A sales contract is a written agreement containing the terms for the transfer of real property and requires the signatures of all parties to the agreement. The Florida Association of REALTORS and the Florida Bar Association jointly developed a standard residential contract form called the FAR/BA...
03/20/2011
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The deed is the document that transfers ownership of the real property. -The general warranty deed is the most common deed, with the seller's guarantee to the buyer that the seller has good title, without material defects or encumbrances, and will stand by the guarantee forever. Courtesy of Rowl...
03/13/2011
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• Title Insurance pays for losses sustained by the new owner or the lender - the new owner does not have to prove negligence. -The two basic types of title insurance are owners' title insurance and lenders' title insurance. Like most insurance policies, there are exclusions and exceptions from t...
03/13/2011
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•An opinion of title is an attorney's professional opinion or the condition of title, based on examination of the recorded documents pertaining to the property. -If the title to the subject property is later found defective, the buyer may find it difficult to be reimbursed for damages unless the...
03/13/2011
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•There are two principal methods for giving evidence of title to a buyer: -(1) abstract or -(2) title insurance. »An attorney uses the abstract to give an opinion of title. •An abstract summarizes the material parts of all recorded documents effecting title to property. - In the strict sens...
03/13/2011
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•Once the real estate contract has been signed, the licensees work has just begun. The parties to a transaction expect their sales associate personally to monitor and coordinate all the details of their closing. While the licensee may believe the "torch has been passed" to the next group of profe...
03/13/2011
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Megan's Law is named for seven-year-old Megan Kanka of Hamilton Township, New Jersey. A convicted sex offender who lived across the street from Megan's family killed the girl. Her family was unaware of his past. -In May 1996, a federal law was passed requiring that public law enforcement agencies...
03/13/2011
• -Residential licensees have long debated the need to make disclosures when a murder. suicide, or death occurs in a house. The property is said to be stigmatized or psychologically impacted. -Changes to Chapter 689 (Conveyances of Land and Declarations of Trust) now settle the matter: •disclosur...
03/13/2011
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When selling real property, sellers and licensees must reveal all known facts that materially affect the value of residential property that are not readily observable to the buyer. Some licensees work under the theory of "don't ask, don't tell.'' This can be the recipe for a lawsuit. To protect ...
03/13/2011
Rainmaker
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Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School / Owner and Instructor