ALL CITY BLOG
Today we’re talking about something very common in my experience in the industry, and that is square footage discrepancies. Especially, discrepancies regarding the square footage that is input into an MLS listing.
I had an interesting scenario occur this week with one of my agents who was representing the buyers on a transaction.
They had gone under contract, they had negotiated an option period of seven days, and as they drew closer to the end of that option period, it became clear that some issues were going to need to be reexamined.
Is A Seller Obliged To Disclose A Previous Buyer’s Inspection Report To Subsequent Buyers? The previous buyers had the house under contract, for whatever reason. That contract fell off.
Today we’re talking about an issue that I’ve seen come up quite frequently lately with agents regarding offers that are contingent upon the sale of the buyer’s other property, contingency offers, and backup contracts.
The first one is regarding the executed date. The common misconception in the agent world is that the executed date shall be written in as soon as the buyers have completely initialed and signed the contract, the sellers have completely initialed and signed, and then the agent puts in the executed date.
My agent, who was the listing agent, called me and she was freaking out a little bit because it was three o’clock in the afternoon and the buyer’s option period was going to expire at 5:00 p.m. that day.
So what we’re going to talk about today is the structure of where a consumer might go to file a complaint against a real estate agent, where an agent might go to file a complaint against another agent, and the differences in what might occur when those reportings take place.
There a lot of misconceptions out there amongst the agent population regarding the rebating of commissions and whether or not this is allowed. Now, there are different types of rebates that that can be arranged, some with buyers, some with sellers.
Today we’re talking about the upcoming TREC mandate regarding advertising rules. As you may have heard there has been a lot of discussion about these rules and they go hard and mandatory on May 15th.
I want to talk to you today about a very important issue that’s going on right now. I see a lot of this out there in the marketplace with my agents and with the agents that they do deals with, and it has to do with appraisals.