Tag: News

Complete Your Closings Online

New laws make remote electronic notarization secure and accessible. From home searches to purchase contracts and loan applications, many aspects of a modern real estate transaction are now conducted electronically and online. But until recently, the actual closing has remained a stubbornly paper process in an increasingly digital world. Over the past several years, with …

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Buying With Friends: A Legally Complicated Transaction

What you should know about working with clients who choose this unusual avenue to homeownership. A small but growing share of home buyers is forging an alternative path to homeownership that is ripe for potential legal consequences: purchasing a property with friends. With affordability near an all-time low, it’s easy to see why some consumers, …

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Appraisals Among Most Misunderstood Legal Issues

2019 law and ethics in review: What you, our readers, buzzed about the most this year. Perhaps the most important aspect of your business is learning how to protect yourself legally in the event a transaction or client relationship goes awry. Articles about misunderstandings regarding your freedom to communicate with appraisers, how to handle a …

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The Code Toughens Its Words

An implicit antidiscrimination ban is now spelled out by a new standard of practice in the Code of Ethics. As REALTORS®, we pledge to live by the Code of Ethics outlined by the National Association of REALTORS®. NAR commemorated the 50-year anniversary of the Fair Housing Act in 2018, and fair housing has been enshrined …

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Avoid Cyber Liability

Failure to warn clients about wire fraud scams could mean financial loss for your clients—and legal trouble for you. Benjamin and Joyce Fox were eager to move to a home near family and settle into retirement. In 2017, after a three-month house hunt, they found a three-bedroom townhouse in Lafayette, N.J. The townhouse was a …

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Money Issues After a Failed Sale

Know how escrow funds are handled if a deal falls through. In an ideal world, every transaction closes without a hitch. However, it’s important to prepare for those times when the sale does not close. In those cases, we are left with the question of how to deal with funds held in escrow. Closing procedures …

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Tenant Rights

COVID-19 raises legal concerns related to evictions and fair housing. COVID-19 has altered the rulebook for property managers and investment property owners for the foreseeable future. Balancing the pressures faced by tenants struggling to pay rent due to job loss with your need to keep up with expenses and safety measures presents distinct challenges. Two …

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Commit to Addressing Racial Injustice

Five measures brokerages are taking that you can adopt to fight discrimination and foster inclusion. Since the killing of George Floyd in May, the topic of systemic racism has galvanized the nation’s attention. Many real estate professionals are becoming part of the movement for change. Here are five measures brokerages are taking that you can …

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Tips Before You Add COVID-19 Legalese

Minimizing the chance of liability claims against your brokerage and your clients starts with clear communication about those risks. During the pandemic, of course you want to serve your clients to the best of your ability while being attuned to health and other risks. Minimizing the chance of liability claims against your brokerage and your …

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5 Ways to Brand Yourself an Equality Champion

Resources from NAR can help you develop more inclusive business plans. Your association can help you make real strides toward a more inclusive business. For a decade, the National Association of REALTORS® Code of Ethics has gone beyond the law when it comes to fair housing. But many real estate practitioners are looking for ways …

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Litigation Risks

Not only do social distancing, masks, and good hygiene during showings keep you and your clients safer, these steps help you manage legal risks. Not only do social distancing, masks, and good hygiene during showings keep you and your clients safer, these steps help you manage legal risks. Sellers were more likely than buyers to …

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3 Lending Discrimination Lawsuits

Fair housing lawsuits are one tool for addressing illegal discrimination in the real estate and mortgage credit industries. Fair housing lawsuits are one tool for addressing illegal discrimination in the real estate and mortgage credit industries, though the bar is high for determining liability. Cases alleging discrimination in lending practices were highlighted in NAR’s 2019 …

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