Archive for 'legal update'

Just in case you have not heard about it, the new federal law scheduled to outlaw 100 watt light bulbs has been shot down.

Before being shot down, this new federal law scheduled to take effect in January 2012, outlawed 100 watt incandescent light bulbs. Edison would roll over.

Stay tuned for the fantastic educational video on lighting from Peter Konopka (this training was done before they shot down the new federal law)

This is a WHOPPER!

I just got this in the mail from my state’s Realtor Association

Please Pay Close Attention – Don’t Allow Yourself To Get In This Trick Bag

This is a very powerful “eye-opener” for the licensed agent, real estate investor, who is GREEDY and tries to play both ends against the middle.

If you have your license as an agent or broker, and you wish to make money representing buyers and sellers, then wear this hat professionally for the best interest of your client(s).

If you are licensed as an agent or broker, and want to use these resources to buy and sell for your real estate investing business, then follow the law and rules properly.

It all boils down to good old fashion doing business the right way and with 100% full disclosure and document your disclosures.

Read this one and enjoy

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Agent buys house from under client’s nose Lawsuit leads to out-of-court settlement

In a recent column, we asked if a person who serves homebuyers and sellers for a living should be held to different guidelines if they are competing to purchase a property.

For example, should the listing be exposed to the market for a certain amount of time (perhaps 48 hours) before a licensed agent can buy a home that somebody else is ready, willing and able to buy?

The question came in light of new research that revealed nearly 43 percent of all members of the National Association of REALTORS® owned at least one rental property.

The responses fell into two main pots:

  1. Readers said agents should be allowed to buy if it was in the best interest of the seller.
  2. Others who responded thought that agents should be allowed to purchase a property as soon as it is listed provided they knowingly had no other active clients who wanted the same home.

A recent Washington state case that was settled out of court (and whose financial terms remain confidential) contained that second caveat. The interesting, complicated affair included a short sale Click Here for Full Video/Article (Members Only)