FTC changes MARS rules enforcement
The Federal Trade Commission (FTC) today announced a new policy which suspends enforcement of virtually all the Mortgage Assistance Relief Services (MARS) rules against real estate licensees involved in short sales.
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Use the Agreement of Sale, the whole Agreement of Sale
I’m currently defending a broker and her salesperson in a failure-to-disclose lawsuit. My client — a buyers’ agent — has been accused of failing to tell her clients that mold is not an unusual environmental condition and that they have a right to test for its presence.
Read More Megan’s Law Q&A: Duty to disclose?
Legal Hotline callers want to know whether licensees have a duty to determine the presence of Megan’s Law registrants and whether the answer changes depending on the status of the licensee as a buyer’s or seller’s agent.
Read More Lead-paint renovations require certified contractor
New EPA rules require contractors doing home repairs on homes built prior to 1978 to take specific training in lead paint-safe practices as of April 22, according to Dale Kemery, spokesperson for the U.S. Environmental Protection Agency (EPA).
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Myths surround deposit money
PAR staff has recently seen an increase in the number of questions regarding the handling of deposit monies. Let’s look at some of the common myths about deposits and set them straight.
Read More New Agreement of Sale reflects changes to inspections, mediation
The revised form was recently approved by the PA Association of REALTORS®’s Standard Forms Oversight Committee and will require final changes prior to its publication.
Read More Are you chicken?
A recent article suggests that buyer agents are “too chicken” to aggressively qualify prospective buyers and weed out the ones who aren’t motivated and/or qualified to buy. What PAR form can help determine if you want to work with a buyer?
Read More RELRA amendments mean two key changes
For the past several years, PAR has been working to amend the Real Estate Licensing and Registration Act (RELRA) in two key areas. In early July we helped to pass what is now Act 14 of 2009, which takes effect on September 4, 2009.
Read More Straighten up and tax right
Ever wonder why your school district property tax has a different billing cycle than your county property tax? It’s more interesting than you may think.
Read More Short sales…Long transactions
As we end 2008 and look back at this turbulent year, one of the defining terms of the year has to be “Short Sale.” Nobody is happy that many homeowners have found themselves in a position to need to sell their homes for less than their outstanding mortgage debt, but at the same time, this wave of potential transactions has created a niche market that can be well served by REALTORS® who have done their homework and know how to make a short sale happen.
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