Change is Coming – NEW Purchase Contract The Cincinnati Area Board of REALTORS® and the Dayton REALTORS® Joint Contract Committee has been working on revisions to the Contract to Purchase. The Committee has been working on a complete review of the Contract and the new Contract to Purchase is targeted to be available within the… Read More »
Contracts and forms that are provided for use in real estate transactions must be completed with care. It is important that all parties who will be signing the forms read them, ask questions (to either their agent or legal counsel) pertaining to anything that isn’t completely understood and review the documents prior to signing and… Read More »
Can a REALTOR® Get Into Trouble for Not Following Covid-19 Guidelines? The answer is ….. maybe. While REALTORS® must adhere to executive, or shelter-in-place orders, violations of such orders do not automatically constitute a violation of the Code of Ethics. To determine whether a violation of an executive or shelter-in-place order also violates the Code… Read More »
Improper Handling of Earnest Money Can Result in Sanctions It seems simple enough. A contract calls for earnest money, earnest money is collected, earnest money is deposited in an escrow account, the seller is so notified and the earnest money is disbursed as addressed in the contract. But, what happens when something goes wrong? Here… Read More »
Improper Handling of Earnest Money Can Result in Sanctions It seems simple enough. A contract calls for earnest money, earnest money is collected, earnest money is deposited in an escrow account, the seller is so notified and the earnest money is disbursed as addressed in the contract. But, what happens when something goes wrong? Here… Read More »
Smile! You’re on Camera! More and more people are installing home security cameras and keeping watch of activities taking place on their property. There are laws pertaining to video and audio recording and the homeowner should be using surveillance tools in accordance with the law. However, that cannot be guaranteed. You must be mindful that there… Read More »
Counter-Offer Form Keep it neat and clear. CABR has a form created to facilitate a counter offer. The Counter Offer addendum is a helpful tool in keeping the negotiation process neat and clear. When an offer is made, then a counter comes back, things can get messy. Maybe, there’s even another counter to that one. Before you know it, the contract form… Read More »
Get it in Writing Verbal offers, verbal counteroffers, verbal acceptances, verbal agreementsare not worth the paper they are written on! You’ve probably heard some version of this statement before. It encompasses a very basic rule, which is sometimes forgotten. And, forgetting this rule can result in a very expensive education. Failure to get agreements in writing can result in… Read More »
Release or Termination – Which Form Should Be Used? Your client no longer wants to proceed with the purchase contract. The proper form to use depends upon the reason the party wants to end the transaction. If the reason is due to a contingency in the contract that provides for the right to terminate the… Read More »
Social Media, Websites and Advertising Violations It seems innocent enough…posting a congratulatory comment to your buyers/sellers on your personal social media account, sharing your new listing or asking your friends/followers to recommend your real estate services to their friends/followers. Or, you’ve created a website that promotes your services or team and make yourself/team the “star” of… Read More »