International, IT Real Estate News

By David Saks
((retired))
  #2740 One of the great benefits that a buyer has by signing a buyer's agency agreement is that they have access to confidential information about the seller's absolute lowest price for the property. Is this fact true or false ? (if you blow this one shame on you) :-) Take your time. The solution is posted below the royalty free wildlife photo. A. False A buyer retaining the services of a buyer's agent will never have access to information about the seller's negotiating position for the property.
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By David Saks
((retired))
#2739 A buyer's agent does not have the right to be be compensated by the seller. Is this true or false ? Take your time. The solution is posted below the wildlife photo.   A. False A buyer's agent may always accept a share of the commission that the listing broker has received from a seller. No agency relationship is established between the buyer's agent and the seller because of the commission split.
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By David Saks
((retired))
#2738 A contract is considered to be a void contract if it can't be enforced because of a statute of limitations. Is this true or false ? Take your time. The solution is posted bel;ow the royalty free wildlife photo.   A. False If a statute of limitations is involved we have an expired contract. Contracts are considered void if some absolutely necessary component was removed from the contract renedering it unenforceable. The contract will have no legal impact.
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By David Saks
((retired))
    #2737 If an option to purchase real estate has been recorded but has never been worked out, the option may always be reverted to a form of protection or collateral for a new loan. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False If the option is recorded and has never been carried out it creates a cloud on the title and may only be cleared by obtaining a release from the optionee.
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Do you have withdrawn and expired listings posted on ActiveRain ? Thousands of withdrawn and expired listings reside on the servers of social and professional real estate networks. Agents find these withdrawn and expired listings, contact sellers and ask them to relist their homes. What could happen to you if you call the seller of an expired listing who just so happens to be included in the National Do Not Call Registry ? If the former seller you call files a complaint you and your broker can be punished.   You and your broker could be indicted for violating the laws governing the National Do Not Call Registry and fined thousands of dollars. Calling expired listings which are included in the National Do Not Call Registry violate federal law and NAR's Code of Ethics. The Preamble to the...
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By David Saks
((retired))
#2736 A latent defect never has to be disclosed to a buyer because of the confidential nature of the relationship the broker has with the seller. Is this fact true or false ? Take your time. The solution is posted below the wildlife photo. A. False A latent defect always has to be disclosed to the buyer by the seller or by the seller's broker.
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By David Saks
((retired))
#2735 When we talk about a latent defect we're speaking of a defect endemic to a particular property and obvious. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False A latent defect is never obvious and is usually a hidden defect on a property.
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By David Saks
((retired))
    #2734 When we spedak about a dual agency, a rule of thumb is that any time an agent assumes dual agency the dual agent is obligated to disclose all confidential information to both parties. Is this true or false ? Take your time. The solution is posted below the wildlife photo ? A. False A dual agent has an obligation to keep all confidential information confidential between the parties, and to not disclose confidential information to either party in the dual agency relationship. The cardinal rule is to not disclose either parties negotiating position.
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By David Saks
((retired))
#2733 If a listing broker negotiates the sale of a property with a ready, willing and able buyer and all of the terms established between the buyer and seller are met, and correspond with the terms of the listing agreement, if the seller decides not to sell the property the seller isn't obligated to pay the broker a commission. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False If all of the terms of the listing agreement are met and the broker has presented a ready, willing and able buyer to the seller, and all of the terms as set forth in the listing agreement have been met, the seller owes the broker a commission whether or not the seller sells the house to the buyer presented by the broker.
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By David Saks
((retired))
     #2732 When an agreement to purchase real estate is created, a purchase agreement, it must state what the methods of payment will be from the buyer, the type of financing terms arranged by the buyer, the listing price of the property, and the total purchase price of the property. Is this true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The agreement to purchase does not have to include the listing price, but all of the other considerations are included.
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By David Saks
((retired))
#2731 When a provision is added to a contract for the purchase of property (a purchase agreement) that states the contract will not become a binding contract unless the buyer has secured the financing necessary for the purchase of the property this provision is commonly referred to as a clause attesting to the defeasability of occupancy. Is this considered to be true or false ? Take your time. The solution is posted below the wildlife photo, A. False Whenever a provision is included in apurchase and sale agreement that makes the purchase contingent on the occurrence of financing this type of provision is known as a contingency clause. (You knew that !) :-)
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This is my recipe and I'm totally responsible for it's contents.   Sliced Matzo Balls on Texas Toast With Melted Cheese and Cajun Seasoning   You'll need : 1 Cup of Matzo Meal 3 Eggs 1 Teaspoon of Salt 2 Tablespoons of Vegetable Oil 2 Chicken Bullion Cubes 1 Quart of water Texas Toast Melted Cheese of any variety Cajun Seasoning Mix the water and bullion together in a two or three quart pot and cook on high till boiling. Combine the matzo meal, eggs, salt and vegetable oil in a bowl and stir until thick and pasty. Place the matzo meal bowl mix in the refrigerator and leave until the bullion stock is boiling. When the stock is boiling take the matzoh meal out of the refrigerator, wet your hands, roll the matzo meal into two inch balls and drop into the boiling bullion mix. Reduced heat t...
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Real Estate Agent Sentenced to Five Years in Prison for Conspiracy to Defraud Investors and Lenders U.S. Attorney’s Office May 30, 2014 Middle District of Pennsylvania (717) 221-4482 The United States Attorney’s Office for the Middle District of Pennsylvania announced the sentencing yesterday of Andrew Brosnac, age 48, of Mansfield, Texas. Brosnac, a real estate agent and investment consultant, pled guilty to conspiracy to commit bank fraud and wire fraud in connection with the sale and leaseback of businesses in Pennsylvania, New York, West Virginia, North Carolina, South Carolina, Alabama, South Dakota, California, Oregon, and Wyoming. According to United States Attorney Peter Smith, between 2006 and 2008 Brosnac and co-conspirator Samuel Pearson, age 47, Hanover, York County, Pennsy...
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By David Saks
((retired))
#2730 When a safety clause is added to a contract for the listing of a property it basically creates a measure of safety for the broker which effectively entitles the broker to a commission if the property is sold within a specified time, after the listing contract has expired, to a buyer that the broker had shown the property to during the term of the listing agreement. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. True The safety clause may be established for a set amount of time with a definite expiration date and will entitle the broker to a commission if the property, listed in the listing contract, is sold to any buyer that the broker had shown the property to or negotiated with during the term of the listing agreement, and entitles th...
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By David Saks
((retired))
    #2729 For a lease to be considered a binding contract it always has to be signed by the tenant. Is this considered to be true or false ? Remember to take your time. The solution is posted below the wildlife photo. A. False The best policy is always to have both the landlord and the tenant sign the lease agreement, but the only person that need to sign the lease for it to become a valid lease is the landlord. If the tenant pays the rent and takes possession of the property it's taken for granted that the tenant has accepted the termsa of the lease.
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By David Saks
((retired))
   #2728 If a tenant farmer decides to build a hen house and a building for his tractor, who do these buildings belong to ? Take you time. The solution is posted below the wildlife photo. A. The tenant. If the tenant constructs a building on the property he owns it, unless other arrangements are made with the property owner.
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By David Saks
((retired))
      #2727 If the buildings were blown to smithereens, vaporized, bombed, imploded or torn to pieces and the land is still there, what example has been established by recognizing that the land still in place ?   A. The indestructability of the land. This is one of the most prominent aspects of land. Land, essentially, cannot be destroyed. It can be moved and displaced from the surface, but it extends to the center of the earth.
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By David Saks
((retired))
  #2726 If a landownber has posted a "no trespassing" or "no hunting"  sign on his or her property, what stick in the bundle of legal rights is this person exercising ? A. The right of exclusioon. The right of exclusion gives the landowner the right to say who or what has a right to be on their property. The other rights included in the bubdle of legal rights are the rights of "control", "enjoyment" and "disposition".
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By David Saks
((retired))
   #2725 When we consider the methods of annexation, adaptation and the type of agreement, these are considered the legal tests for determining whether or not an item is land or real estate ? True or false ? A. False The method of annexation, the type of adaptation, and the kind of agreement entered into are the legal tests for considering whether or not an item is real property or personal property. In brief, the county assessors office might have more to do with whether or not an item is to be considered real property or personal property.
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By David Saks
((retired))
#2724 If a property owner doesn't want to deal with the day to day task of managing an apartment complex or any other form of rental property the owner can hire a developer. Is this true or false ? Take your time. The answer is posted below the wildlife photo. A. False The property owner would hire a property manager to manage the property and see to the day to operation of it's affairs.
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