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Real Estate Practice, 4th Edition
Agency Issues
Chapter 1: Brokerage activities: agent of the agent
For, on behalf of and in place of
Chapter 2: An agent's perception of riches
The broker avoids deception
Chapter 3: Real estate's low-level management of human resources
The entry and exit of agents
Chapter 4: The MLS environment
An industry-wide misconception
Chapter 5: Subagency and dual agency
Agency and fee sharing misconceptions
Chapter 6: The agency law disclosure
Legislated order
Agency Issues
Chapter 7: Types of listings
Listings as employment contracts
Chapter 8: The exclusive right-to-sell listing agreement
When the fee is earned
Chapter 9: The listing's exclusive aspect
Fee earned on any sale
Chapter 10: A fee due on withdrawal or termination
Exercising an alternative
Chapter 11: The safety clause
A fee earned after the listing expires
Chapter 12: Preparatory costs of selling
Greater transparency in a sale
Chapter 13: "For Sale" sign regulations
Property owners can display
Chapter 14: Operating under a buyer's listing
Prerequisite to representation
Chapter 15: The buyer's listing agreement
Analyzing the buyer's listing
Chapter 16: Sharing fees on a sale
Buyer's agent or cooperating agent?
Chapter 17: The breaching buyer pays
Brokerage fee protection
Chapter 18: The seller's interference with fees
The breaching seller pays
Chapter 19: Finders: a nonlicensee referral service
Agency relationships in real estate transactions
Agency Issues
Chapter 20: Due diligence obligation of agents
The duty owed to clients
Chapter 21: The listing agent and the prospective buyer
General duty to voluntarily disclose
Chapter 22; Leasehold improvements
Ownership rights
Chapter 23: Condition of property: the owner's disclosures
Mandated on four-or-less residential units
Chapter 24: Safety standards for improvements
Disclosing noncompliant improvements
Chapter 25: The home inspection report
Transparency by design
Chapter 26: Verify property disclosures: retain a home inspector
Protecting the prospective buyer
Chapter 27: Natural hazard disclosures by the listing agent
A unified disclosure for all sales
Chapter 28: Environmental hazards and annoyances
Noxious man-made hazards
Chapter 29: Lead-based paint disclosures
Crystal clear transparency
Chapter 30: Marketing condominium units
Managed housing
Chapter 31: Bonded indebtedness due improvement districts
Cost of subdividing land
Chapter 32: Prior occupants's use, affliction and death
When and when not to disclose
Chapter 33: Income property operating data
Fundamentals induce offers
Chapter 34: Required disclosures on seller carrybacks
Mandated notices
Chapter 35: The seller's net sheet
Financial consequences of a sale
Chapter 36: Cost acquisition disclosures
The capital to buy
Agency Issues
Chapter 37: Making an offer
The intent to contract
Chapter 38: Acceptance of an offer
Time and nature of a response
Chapter 39: The counteroffer environment
Meeting the seller's objectives
Chapter 40: Contingency provisions
Conditioning the close of escrow
Chapter 41: The elimination of contingencies
Occur, approve, waive or excersise
Chapter 42: Cancellation excuses further performance
Exercising the option to terminate
Chapter 43: Time to perform
A default and cancellation
Chapter 44: Cancellation, release and waiver
Known and unknown claims
Chapter 45: The seller's breach
Failure to act or timely act
Chapter 46: The breaching buyer's liabilities
First, there must be a loss of money
Chapter 47: Liquidated damages provisions
Windfalls and responsibility for losses
Chapter 48: Arbitration: the independent beast
Lost rights to correct a decision
Agency Issues
Chapter 49: The purchase agreement
Types and variations
Chapter 50: An owner's residence in foreclosure
The equity purchase sales scheme
Chapter 51: Income property acquisitions
Investigating a property's worth
Chapter 52: The formal exchange agreement
Structuring a comprehensible transaction
Chapter 53: Real estate purchase options
An irrevocable offer to sale
Vesting
Chapter 54: Vesting the ownership
Possession and transfer rights
Chapter 55: Preliminary title reports
An offer to issue title insurance
Chapter 56: Title insurance
Identifying and actual loss
Escrow
Chapter 57: Going to escrow
The process of closing a purchase agreement
Chapter 58: Funds in a failed escrow
First clear out the deposits
Taxes
Chapter 59: Tax aspects advisory
Disclosure of known consequences
Chapter 60: Home loan interest deductions
Two deductions, two residences
Chapter 61: The principal residence profit exclusion
Tax-free profit of $250,000 per person
Chapter 62: 1099-S on the sale of principal residence
Seller certification eliminates 1099-S
Chapter 63: Profit tax withholding on a sale
Qualifying as an exempt §1031 sale