Full disclosure refers to the general need in any business transaction for all parties to be truthful and forthcoming regarding any material issue related to the transaction. Often times the full disclosure requirement is reinforced through a provisions c
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Knowing the Difference is Important for Marketing Congress enacted RESPA, the Real Estate Settlement and Procedures Act, in order to regulate the activities of vendors involved in the settlement of real estate transactions. The impetus for the Act was ab
Continue reading >>A real estate broker or agent owes a prospective purchaser of a residential real property comprising of 1 to 4 units, a duty to conduct a reasonably competent and diligent visual inspection of the property offered for sale and to disclose to that prospect
Continue reading >>Real Estate Broker Fiduciary Duties & Fraud Broker/Agent Fraud and Negligence
Continue reading >>As 2011 comes to a close, it is no surprise that there are over a dozen new laws that will affect both real estate agents and brokers. To assist you in understanding these new regulations and laws, we will be posting them over the next few weeks in a thre
Continue reading >>Rescission: When a breach of fiduciary duties by a real estate agent is involved, the principal can ask the courts to rescind the contract and restore them to their status before entering the agreement. This could involve return of the property to the se
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