David Saks' Blog

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David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2011 

                                                         #1237 If an option to purchase real estate has been recorded but has never been worked out, the option may always be reverted to a form of protection or collateral for a new loan. Is this true or false ? Take your time. The solution is post...
07/24/2011
                                                     #1236 A latent defect never has to be disclosed to a buyer because of the confidential nature of the relationship the broker has with the seller. Is this fact true or false ? Take your time. The solution is posted below the wildlife photo. A. F...
07/24/2011
                                                            #1235 When we talk about a latent defect we're speaking of a defect endemic to a particular property and obvious. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False A latent defect is never ...
07/24/2011
                                                           #1234 When we speak about a dual agency, a rule of thumb is that any time an agent assumes dual agency the dual agent is obligated to disclose all confidential information to both parties. Is this true or false ? Take your time. The solut...
07/24/2011
                                                              #1233 If a listing broker negotiates the sale of a property with a ready, willing and able buyer and all of the terms established between the buyer and seller are met, and correspond with the terms of the listing agreement, if the sell...
07/24/2011
                                                            #1232 When an agreement to purchase real estate is created, a purchase agreement, it must state what the methods of payment will be from the buyer, the type of financing terms arranged by the buyer, the listing price of the property, and...
07/24/2011
                                                                   #1231 When a provision is added to a contract for the purchase of property (a purchase agreement) that states the contract will not become a binding contract unless the buyer has secured the financing necessary for the purchase of...
07/24/2011
Philip R. Lochmiller, Sr. Found Guilty of Conspiracy, Money Laundering Conspiracy, Money Laundering, and Mail Fraud Lochmiller Defrauded Over 400 Victims of More Than $30 Million U.S. Attorney’s Office District of Colorado  DENVER—A jury this morning found Philip R. Lochmiller, Sr. guilty of cons...
07/22/2011
Former Football Player Sentenced for Bankruptcy Fraud U.S. Attorney’s Office District of South Carolina  COLUMBIA, SC—United States Attorney Bill Nettles stated today that Richard Francis Sanford, age 54, of Lexington, pled guilty in federal court in Columbia to bankruptcy fraud, a violation of T...
07/22/2011
Former FBI Special Agent Darin Lee McAllister Sentenced to Federal Prison for Federal Wire and Bankruptcy Fraud U.S. Attorney’s Office Eastern District of Tennessee NASHVILLE, TN—Former FBI Special Agent Darin Lee McAllister, 44, of Brentwood, Tenn., was sentenced today in U.S. District Court in ...
07/22/2011
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David Saks

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Most real estate fraud-related articles and Department of Justice Press Releases published here are taken from the public record, which normally include press releases and court documents related to each entry and case. Any other type of record, i.e. newspaper reports, are only published after consent has been obtained from the original publisher.
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