This regulation requires the broker to maintain, in columnar form, a separate record of trust funds for each beneficiary or transaction accounting for all funds which have been deposited into a trust account. This record identifies which beneficiary has funds in the trust account. This record must indicate the following in chronological order and in… CONTINUE
Stateless Russians
Christopher Hanson tells the cautionary tale of Russian immigrants who ended up in California and had a “misunderstanding” with the broker who sold them a property. There’s a great lesson for all of us at the end of this story.
Water Water Everywhere
This week’s story is about a sweet young couple buying their first home, and facing the risk of going underwater. Literally.
Top DRE Audit Violation #3: Trust Fund Records
This regulation requires the broker to maintain, in columnar form, a record of all trust funds received and deposited by the broker. At a minimum, the following information must be indicated in columnar form in chronological order: date funds were received; name of payee or payor; amount received; date of deposit; amount paid out; check… CONTINUE
Citations by the DRE: Top Audit Violation #2
Even though the real estate industry has moved into a new millennium with internet marketing, social media, and cloud based transactions, certain things have not changed: the most common violations found in DRE Audits. This is article #2 in a series of articles to call your attention to these common deficiencies and to provide you… CONTINUE
The House on the Hill that Went Slip Sliding Away
Where did the requirement for a broker to conduct a reasonably competent, diligent, visual inspection of accessible areas of a property come from? Christopher Hanson takes you back 30+ years to reveal the case that brought that obligation into reality…
Gnarly Neighbors, Non-Disclosure, and Litigation
Have you ever had an experience with neighbors who, shall we say, are less than neighborly? What if you want to sell your home for top dollar? Then you’d better not mention those neighbors, right? Watch this story to find out what happened when the seller didn’t disclose those gnarly neighbors.
Want to Get Cited by the DRE? Top Audit Violation #1.
The real estate industry has moved into a new millennium. New things pop up everyday changing the way we do business, such as internet marketing, social media, and cloud based transactions. Yet, certain things have not changed: the most common violations found in DRE Audits. I decided to write a series of articles to call… CONTINUE
Commercial Leases
If you are a Ross store, and you are on one end of a shopping center, and Mervyn’s is down at the other end, can you bail out if Mervyn’s does? After all, you count on the people-traffic Mervyn’s brings into the center. And you even have a “co-tenancy” provision in your lease that says… CONTINUE
February E-Zine
The February HLF E-Zine on California real estate and insurance bad faith law. http://e.openmoves.com/accounts/hanson/feb13/hanson-feb13-3.html
REO sales going away?
REO resales accounted for 17% of all California resale activity in 4Q 2012, down from 34% one year ago. In a healthy market, REO resales are around 7% of resales.
Eminent Domain – A New Way to Solve the Foreclosure Problem?
In our recent Newsletter, http://www.hansonlawfirm.com/newsletter/ we talk about a creative way Counties are considering to clean up blighted areas in thier jurisdictions, and get owners in distress the loan modifications they need to keep the homes – thus leep the Counties from blight. Condemn the mortgage! Some in the real estate industry don’t like the idea; others… CONTINUE
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