reports: CAR Contingency Removal Form-Gaming the Transaction - 05/11/16 02:50 AM

Recently, I had a lively debate with one of my very sharp brokers (my hubby) regarding the removal of the inspection contingency on the CAR-CR form.
His argument was, if the inspection contingency is removed but the disclosures, reports, HOA docs, title report are not, then the buyer COULD cancel the contract if these documents do not meet approval and retain their deposit. He is correct but there is another angle to it.
As one of the original authors of the Contingency Removal form, I do understand the intent and how it’s to be used.
When the contract committee first created the architecture of … (3 comments)

reports: Termite Inspections-Quick Rules to Identify Type of Report - 08/13/13 02:13 AM
One of my personal favorite topics- TERMITES! Agents are sometimes confused when multiple reports have been generated. Keep these quick rules in mind when perusing the front page of a report....
1-Right Property Address
2-Look at the report # to make sure all pages of the report you receive have the same number.
3-Note the boxes checked. Remember there is a specific order to the type of report you receive-You cannot have one without another one preceding it! Check it out...
Complete Report-Ideally you want your termite report to be this. Means the termite inspector was able to visually inspect the … (0 comments)

reports: CALIFORNIA AGENTS-DO NOT TOSS YOUR CLOSED FILES! - 08/18/10 04:35 AM
A little birdie just informed me that a couple of large California brokerages have been dinged for not providing reports/disclosures to perspective buyers from a previous transaction on that same property that the broker was involved in!
What this means is if your brokerage represented the seller on a transaction that closed 5 years ago, for example, and you now list it with the new owners and subsequently receive an offer on it, you must now provide ALL disclosures and reports to the buyer from the previous transaction as well as new/updated disclosures/reports.
Talk about a can of worms! How … (1 comments)

reports: Before a Buyer Removes an Inspection Contingency - 06/09/10 04:38 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)