These two words are the start of many questions by those who draft contracts, including agreements for the sale of real estate. Consider Paragraph 18 of the PAR standard agreement entitled Maintenance and Risk of Loss. This paragraph was borne of the following “what ifs?” What if the HVAC system or other systems fail after signing but before settlement?
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Who, if anyone, should attend home inspections has been a topic of debate for as long as home inspections have been a standard element in a residential transaction. Year ago when the topic came up at an NAR meeting of attorneys who represented state associations of Realtors, the room was divided, with roughly 50% saying that buyers should attend…
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It happens. Sellers agree to make repairs suggested by a home inspection, but fail to complete the job timely. When this happens a buyer is faced, unfairly, with proceeding under a contingent plan (e.g., having repairs made post-settlement or taking cash in lieu of repair) or of delaying settlement. Usually there is little choice. The buyer is packed and ready to move or the mortgage commitment can’t be extended…
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Real estate salespersons often have second jobs. Should a broker care? All in unison: “it depends.” Issues relating to profitability and productivity of a salesperson aside, a broker has reason to be concerned when a salesperson is also employed in a job closely aligned to real estate. There can be unanticipated and negative consequences for the broker and the brokerage…
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What is your agreement with your broker? A recurring question to the Hotline is “what is my broker’s obligation to pay me when I have pending transactions at the time I affiliate with a new broker?” There are many similar questions relating to fees after termination and whether a salesperson can take her clients and transactions to her new brokerage…
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ENOLA, PA (December 5, 2018) – The Greater Harrisburg Association of REALTORS® Foundation awarded two grants to local charitable organizations during the Annual Holiday Luncheon on Friday, Nov. 30. Over 200 REALTOR® members and affiliate members attended. Derek Bicksler of NextHome Capital Realty, the 2018 Foundation President, had the honor of facilitating the grant presentation on behalf of the Foundation…
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What happens when a FSBO freaks out at settlement when she learns for the first time that she is paying seller assist and that the proceeds are less than she anticipated? She goes hunting, that’s what. Who is the likely target? By definition, a FSBO is without an agent and we all know what a horrible idea that is!
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HARRISBURG, PA (Nov. 20, 2018) – Following several months of planning and several weeks of collecting, the Greater Harrisburg REALTORS® Foundation hosted its Annual Thanksgiving Food Drive Distribution Day on Nov. 16. The Foundation serves as the charitable arm of the Greater Harrisburg Association of REALTORS® (GHAR) and provides housing- related service to the community. This year is the 32nd year for the Food Drive…
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The most dangerous clause in the Standard Agreement for the Sale of Real Estate (ASR) is found in our current Paragraph 32(B), Additional Terms. Here’s where agents can let loose with the most creative use of the pen imaginable! A problem is, that when these works of art fail for any reason, they are likely to penalize the author (agent) and his or her client…
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ENOLA, PA (Oct. 30, 2018) – REALTORS® from the Greater Harrisburg Association of REALTORS® (GHAR) volunteered with New Hope Ministries, Central Pennsylvania Food Bank, Cocoa Packs, and Rebuilding Together throughout the month of October. Pennsylvania REALTORS® across the commonwealth are working in their communities to make a difference through REALTORS® Reach Out, a statewide initiative held annually in October…
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