If a seller’s home has solar panels, they should research how those panels could impact their transaction before going under contract.
Forged deeds, driver’s licenses, titles, etc., continue to grow as real estate-theft scams, in part because the tactic often works and, when it does, nets a criminal hundreds or thousands of dollars in fake real estate sales. They even have a name now: Title Pirates.
In a nutshell: Unless a contract states that a copy of an escrow deposit must be sent to the seller, a buyer or their agent has no legal obligation to do so.
It isn’t always a simple answer. A contract may offer advice, but buyers can sue for “specific performance.” And it’s not just the house – agents representing the buyer and/or seller may also deserve compensation.
A Realtor sold personal property outside her brokerage as a FSBO (for sale by owner). After the sale, though, the buyer filed a complaint and she was found in violation of Article 12. If it’s a FSBO sale, how is that a violation?
A proposed rule would allow fair-housing testers to have prior convictions – a way to determine if a landlord illegally turns away renters based on criminal history.
A jury found NAR and others liable in a compensation lawsuit, but the association will immediately appeal and the case probably won’t conclude for several years.
The scams begin with a hunt through public records for vacant land, an absentee owner and no mortgage. Look for red flags, like a refusal to talk in person.
It’s okay to include a floor plan in a listing, ruled a federal judge. He said it's “fair use” and doesn’t infringe on architectural-design copyright laws.
On Oct. 24 at 1 p.m., FREC will focus on foreign buyer “Affidavits of Buyers of Property” and broker-held escrow deposits. The public is invited, virtually or in-person.
