CONFIDENTIALITY:  Agent Cannot Disclose Information Learned During RepresentationBy Christopher Combs | February 1, 2019

 

Question: Our brokerage firm had a six-month listing on a five-acre mini-ranch near Wickenburg.  Although we were in escrow three times in this six months, all three buyers canceled because of a potability problem with the water from the well.  The listing has expired, but a friend that I have known since high school contacted me to discuss making an offer.  I don’t want to represent my friend in making an offer, but can I at least tell my friend about the potability problem with the water?  Answer: Probably not.  After the term of a listing agreement expires, the agency relationship between the seller and the listing broker ends.  Although the agency relationship ends, the listing broker generally cannot disclose any information learned during the term of the listing agreement.  Therefore, your fiduciary duty survived the expiration of the listing and requires that you keep this information about potability of the well water at the mini-ranch confidential.  Note: This duty of confidentiality generally lasts forever and only a court instruction to disclose this information would relieve you from this duty.

CONFIDENTIALITY:  Geigers8/9/21Q: The high priced buyers agent is emailing us and asking why we didn’t choose their offer which was $30K more than the closing price. Question – respectfully and professional is there another answer to reply with or again repeat the one we already gave? OR – Ignore email. A: Maybe respond one more time, say something like "As required by ADRE and our brokerage, All offers were presented to the seller in an objective manner as soon as practical.  Seller analyzed all offers and selected the one they were most comfortable with. Our ongoing fiduciary responsibility to our client is to maintain confidentiality and we are unable to share any further information."

CONSENT TO LIMITED REPRESENTATION:  Q: When selling a home where the buyer is represented by another HomeSmart Agent, is the Buyer or Seller Agent responsible for initiating the Dual Agency Agreement?  A: The buyers agent should prepare the consent to limited representation form at the same time they write the offer.  They will present that to the listing agent along with the purchase contract.  The listing agent should present that first to the sellers, explaining that HomeSmart will be representing both sides in the transaction.

CONTINGENCY:  SEE LOAN CONTINGENCY

CONTINGENCY, ADD CONTINGENCY:  This contract is contingent upon Sellers Receipt and Approval of acceptable engineering report on Replacemen Property Seller is purchasing out of state.  If this contingency is not removed by xx/xx/xxxx, this contract shall be immediately cancelled and all Earnest Money shall be immediately returned to the Buyer.  Inspection period shall begin when Seller gives notice that this contingency has been Satisified/Removed.”

CONTINGENCY CLAUSE:  A contingency clause defines a condition or action that must be met for a real estate contract to become binding. A contingency becomes part of a binding sales contract when both parties (i.e., the seller and the buyer) agree to the terms and sign the contract.   http://www.investopedia.com/articles/personal-finance/102913/contingency-clauses-home-purchase-contracts.asp

CONTRACT:  WHO CAN WRITE A REAL ESTATE CONTRACT…?  See Article 26 Section 1 - Powers of real estate broker or salesman

CONTRACT:  NOUN:  A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law. synonyms:  agreementcommitmentarrangementsettlementunderstandingcompactcovenantbond;     Enter into a formal and legally binding agreement.  synonyms:  undertakepledgepromisecovenantcommit oneself, engageagreeenter an agreement, make a deal"the company contracted to rebuild the stadium"

CONTRACT FOR DEED:  A contract for deed is basically a seller carry type transaction.  Contract for Deed is a tool that can allow buyers who either don't qualify for traditional lending options or who want a faster financing option to purchase property. ... The seller retains legal title to the property until the balance is paid; the buyer gets legal title to the property once the final payment is made. 

CONTRACT:  REPLACEMENT CONTRACT:  Vera Oliveria now representing seller who was FSBO:  Hi Vera, Typically I prepare instructions to be signed by all parties acknowledging that the AAR contract is replacing any and all prior agreements between the parties.  Once that instruction is signed, we proceed with the transaction. There is no need to cancel, recreate and re-open. If your broker requires that be done, the process may be delayed an additional 3-4 days.  Please consult with your broker and let me know if they are OK with the scenario I’ve set out.

 

co·nun·drum:  a confusing and difficult problem or question.  synonyms:  problem, difficult question, difficulty, quandary, dilemma

 

CONVEY AT CLOSING:  This contract is contingent upon the successful conveyance of the unrecorded easement (or whatever, see attached) which is to occur simultaneously along with the closing of the property located at 123 Main Street.

 

COOPERATIVE HOUSING:  Also see  cooperative sample language in doc’s tab under cooperative language.  An apartment building or a group of dwellings owned by a corporation, the stockholders of which are the residents of the dwellings. It is operated for their benefit by their elected board of directors. In a cooperative, the corporation or association owns title to the real estate. A resident purchases stock in the corporation which entitles him to occupy a unit in the building or property owned by the cooperative. While the resident does not own his unit, he has an absolute right to occupy his unit for as long as he owns the stock.                               https://www.lendingtree.com/glossary/cooperative-housing/

 

CO-OP SALE: Q: One more thing - representing Buyer, looking to purchase a co-op in central PHX.  No escrow/no Title.  Seller wants to hold earnest money ($900).  How do we protect buyer's earnest money?  A: Hi X, That's normal for a co-op type sale, and the contract should protect the EM just the same as it does when a title company is involved.  If the Seller side mishandles it, the Buyer will have legal recourse to get it back, assuming that the scenario shows the Buyer canceled appropriately per the contract.  KF.

COOPERATIVE COMPENSATION:  SEE COMPENSATION…

 

Cooperating agent means an Agent who introduces a buyer to an MLS Listing of another Member and who is further involved so as to become the procuring cause of sale to that buyer; and where the context requires, the obligations of the Cooperating Agent shall also be obligations of the Cooperating Broker.

 

CORRECTION ON CONTRACT, WRONG BOX CHECKED: “Line #xxx of the Purchase Contract was erroneously checked/marked, and is hereby considered unchecked/unmarked.”  OR  “All documents shall be amended to indicate the correct premises address as:  123 Main Street, Tempe, AZ.” OR "line #'s 246, 251, 259 and 434 are hereby considered marked and initialed by the buyer(s)"

CORRECTION:  “Counter Offer #1 to reflect unit #5.”  (Or whatever correction is, on offer, counter, addendum, etc).

CORRECTION:  LANGUAGE: “This addendum corrects the (name item) in section xx, line #xxx of the purchase contract.  Contract should read (broker on behalf of seller)...or ___________________

CORRECTION: LANGUAGE: Buyers initials on line #x of the purchase contract were place in error (by Y) and are hereby removed from line #x.  Buyers initials shall be considered added to line #x instead acknowledging that the premises wee constructed prior to 1978.

COUNTER OFFER:  NOT ENOUGH ROOM, NEED MORE SPACE:  How Handle?  Do not say see addendum (Addendum is used to modify terms of an existing contract).  A:  You will need to use 2 counter offer forms.  At the top write “page 1 of 2” and “page 2 of 2”.  Both pages will be executed by the parties.

COUNTER OFFER:  AMENDED: Q: Buyer returned counter offer signed but lined through title co and initialed next to that.  Status?  A: (Per Laurie) This is effectively a counter offer.  One party cannot unilaterally change the terms of the purchase contract.  Seller can accept, reject, or send another counter offer.  Could reject with an email, or write rejected in top margin of counter offer form.  Don't wait too long, otherwise it could be implied as accepted.  NOTE:  When you have been presented with an offer; by signing it unamended you accept the other party's offer and create a legally binding contract.  If you amend it and sign it you have made a counter-offer that is now open for the other party to accept. There is no contract until they do.  Two points to remember:  1) Making a counter-offer ends the original offer: it is no longer open to you to accept the original offer.  2) Offers may be accepted by actions: if you make a (counter-)offer and the other party acts like they have accepted it (e.g. by doing the things the contract would require of them) then it is likely that the offer has been accepted and a contract formed. Many disputes lie along this path.

 

COUNTY ISLANDS:  ARMLS OVERVIEW OF COUNTY ISLANDS: https://armls.com/county-islands

COURT APPROVAL REQUIRED:  SPECIAL LISTING CONDITION IN ARMLS         Could be Bankruptcy, probate, divorce,

 

CRAIGS LIST RENTAL SCAM:  Q: I have a rental listing for $2150.00. I just received a call from someone that said it's on Craig's list for $950.00. Someone has used my info and is marketing it illegally. The person who called me didn't believe the Craig's list ad so they looked it up and found me. Is this a police matter?  A: You should report it to Craigs list and have them take down the ad immediately...it's been a problem with them for what seems like forever. You could also report it to your local police, I'm not sure what action if any they would take, but it couldn't hurt.  You should also report it to the Federal Trade Commission, here is a link to their website:   https://www.ftccomplaintassistant.gov/#crnt&panel1-1   Let Craigs list know right away so they can remove the ad. We must remain diligent against these scams.

CRAIGSLIST REAL ESTATE SCAMS RISE:  7/22/2020   https://scottsdalerealtors.org/2020/07/22/craigslist-real-estate-scams-rise/?ct=t%28The_SAAR_News_July+26_2020%29

Craigslist does not verify whether the person listing a rental property is authorized to do so.  If your listing is scammed, be prepared to do three things straight away: 1) Notify local police and secure the property, 2) Report the scam to Craigslist and ask that the listing be removed,  3) File an online complaint with the FBI’s Internet Crime Complaint Center                                                                                                    One of the best ways to catch a Craigslist con artist is to monitor your own listings by creating a Google Alert. It’s relatively easy.

 

CREDIT REPORT:  Q: Does the landlord need to provide a copy of the tenants credit report…?  A: The short answer is, “No, the rental company doesn’t need to give the consumer the report,” says National Consumer Law Center attorney Persis Yu. (Credit.com)   https://www.credit.com/blog/i-paid-for-a-landlord-credit-check-dont-i-get-to-see-it-120900/

Hi Melisa, wanted to circle back with you on this... the answer is no, the landlord does not need to provide this...however, if an adverse decision is made based on someone's credit report they are entitled to a copy from the reporting agency, but the landlord does not have to show them anything.  Landlords can decide whether to rent to someone based on what they find after reviewing the credit report or a tenant screening report. If landlords decide they don't want to rent to someone based on information they learned from one of those reports, they must explain this to the tenant in writing. The letter or note they provide must tell which credit bureau was used and its contact information. Landlords must also explain in the letter that the tenant can obtain a free credit report from that credit bureau. The purpose is so you can review the report yourself to determine whether the information on it is correct. 

SOURCES: https://www.credit.com/blog/i-paid-for-a-landlord-credit-check-dont-i-get-to-see-it-120900/      https://homeguides.sfgate.com/california-renter-rights-credit-checks-87965.html

NOLO: https://www.nolo.com/legal-encyclopedia/how-landlords-can-check-tenant-s-credit-report.html        https://www.experian.com/blogs/ask-experian/landlords-can-share-credit-reports-with-tenants/

 

CREDIT AND BACKGROUND CHECKS:  NTNONLINE.COM for credit and background checks.  https://ntnonline.com/    (Use promo code HOMESMART)   As for credit/background reports, we usually suggest the National Tenant Network (www.ntnonline.com).  If you use Homesmart as a promo code (try all caps or all lowercase I think), it should waive the $40 start up fee.  

CRITICAL DATE LIST:  Q: I was wondering if there is a quick reference check list or timeline guide for deadlines available as supplement the full rules and regulation guide to help make it easier to meet deadlines (status change requirements, lock box removal, etc.). A: The Critical Date List on zipForms is a nice tool to help manage deadlines and due dates in a transaction.  Many agents are using it.

CRITICAL DATE LIST:  SEE “NEW AGENT”

CURBIO:  PRE-SALE RENOVATION COMPANY:  Q: What are HomeSmart’s policy guidelines, if any, for listing agents working with pre-sale renovation companies like Curbio?  A: Hi X, If a seller wants to pursue that on their own they are free to do so.  As an agent, HomeSmart's policy is that we are not involved in any 3rd party programs of that nature for many reasons including both agent and brokerage liability issues along with E&O Coverage limitations.  That's just not our field of expertise and is outside the scope of what our real estate license allows us to do.  (Also not allowed in the same transaction:  Loan Officer, Insurance Agent, Appraiser, Home Inspector, etc).

CURE NOTICE FOR HOA VIOLATIONS (PAINT, LANDSCAPING, ETC):  1) Demand an update to the SPDS!  Give a short period of time to receive.  It doesn’t matter how we learned of the issue (title, HOA, Listing Agent, Copy of Invoice left on counter-top, etc).  Write on CURE notice:  “Failure to update the SPDS as required under section x of the purchase contract, “CHANGES DURING ESCROW.”

Agent)  For example, Failure to Disclose HOA Violations (Paint, Structural, Landscaping), or Failure to Disclose water leak in kitchen.

 

“Sellers Failure to update SPDS as required under section 4f of the Purchase Contract, “Changes During Escrow”.  Buyer has become aware of….”

 

“Failure to deliver Premises in substantially the same condition as of the date of Contract Acceptance under section 6L of the Purchase Contract, “Walkthrough(s)”.

 

CHANGES DURING ESCROW:  AAR RESIDENTIAL REAL ESTATE PURCHASE CONTRACT, section 4f, Changes During Escrow:  “Seller shall immediately notify Buyer of any changes in the Premises or disclosures made herein, in the SPDS or otherwise.  Such notice shall be considered an update of the SPDS.  Unless Seller is already obligated by this Contract or any amendments hereto, to correct or repair the changed item disclosed, Buyer shall be allowed five (5) days after delivery of such notice to provide notice of disapproval to Seller.”

 

CHANGES DURING ESCROW:  LANGUAGE TO UPDATE SPDS: SPDS, NOTIFICATION TO SELLER TO UPDATE SPDS DUE TO CHANGES DURING ESCROW

 

REGARDING SELLER DISCLOSURE, sect xx of the Purchase Contract, CHANGES DURING ESCROW.  PLEASE UPDATE THE SPDS TO REFLECT RECENT PROBLEMS OR REPAIRS THAT MAY NOT HAVE BEEN DISCLOSED AND/OR DISCOVERIES MADE IN THE CLUE REPORT OR BY THE BUYERS INSPECTIONS TO WIT:__________

CURE NOTICE, CONDITION OF PREMISES (CITE WHEN REPAIRS ARE INCOMPLETE):  (Question, how could buyer cancel if seller is already obligated to make repairs, as per language in “Changes During Escrow”, and outlined in the sections below?  Answer, Argument is based on whether we have the seller, or buyer).  (See Changes During Escrow Language)

Sellers have/have not provided an updated SPDS and notification to Buyers that a slab leak/water leak/flood has occurred during the escrow period.  This notification is a requirement at outlined in the AAR Residential Real Estate Purchase Contract, section 4f, CHANGES DURING ESCROW

“Seller(s) has/have not delivered the Premises in substantially the same condition as of the date of contract acceptance.”  (NOTE ISSUE, IE, SLAB LEAK, FLOOD/WATER LEAK, DAMAGE, DEAD LANDSCAPING, MISSING FIXTURES, HOA VIOLATION, ETC).

Seller is obligated to deliver the premises in substantially the same condition as of the date of contract acceptance as outlined in the AAR RESIDENTIAL REAL ESTATE PURCHASE CONTRAC T, as follows:

WARRANTIES, section 5a “Seller shall maintain and repair the Premises so that at the earlier of possession or COE, the Premises, including all personal property included in the sale, will be in substantially the same condition as of the date of contract acceptance.”

WALKTHROUGH(S), section 6l “Seller grants Buyer and Buyer’s inspector(s) reasonable access to conduct walkthroughs(s) of the Premises for the purpose of satisfying the Buyer that any corrections or repairs agreed to by the seller have been completed, and the Premises are in substantially the same condition as of the date of contract acceptance.”

RISK OF LOSS PROVISION, section 8b:  AAR Residential Real Estate Purchase Contract, section 8b, RISK OF LOSS:  If there is any loss or damage to the Premises between the date of Contract acceptance and COE or possession, whichever is earlier, by reason of fire, vandalism, flood, earthquake, or act of God, the risk of loss shall be on Seller, provided, however, that if the cost of repairing such loss or damage would exceed ten percent (10%) of the purchase price, either Seller or Buyer may elect to cancel the contract. 

You should also think about some indemnification language and re-emphasize the Buyers seeking legal advice.  Buyer agrees to indemnify and hold harmless HomeSmart and Selling Agent regarding slab leak repairs.  "Should Buyer/Seller close escrow with incomplete repairs, Buyer does so against the advice of HomeSmart.  Buyer agrees to defend, indemnify and hold harmless HomeSmart against any and all claims that may be made regarding the property and its condition."  BUYER/SELLER IS HEREBY ADVISED TO SEEK LEGAL, TAX AND ANY OTHER PROFESSIONAL ADVICE DESIRED BY CLIENT.”

CURE NOTICE: RESOLVED LANGUAGE  “We now consider the cure notice sent xx/xx/xxxx to be both resolved and extinguished as the (buyer/seller) is now in full compliance with the terms of the purchase contract.”  OR   This is the final acceptance for 4536 E. Calle Tuberia.  Seller has fulfilled the conditions of the cure issued on 3/11/2020.  The prepaid receipt has been delivered to the buyer on 3/11/2020.  OR  “Seller hereby delivers notice that the cure notice received on xx/xx/xxxx has been resolved.  All repairs have been completed, paid invoices are attached.”

 

CURE NOTICE NOT RESOLVED:  CANCELLATION:  Based on everything you have shared here, it appears that they have not resolved/extinguished the CURE notice dated xx/xx/xxxx.  Therefore, with today being the 4th day after the CURE notice was sent, your seller should be able to cancel the contract and request the EM be released to seller as well.  The title company will make the final decision regarding that, but it appears as if you have a strong case to ask for that.  If the seller wishes to cancel, you should prepare a cancellation notice stating something like:  ""Buyer failed to resolve the CURE notice which was delivered on xx/xx/xxxx (see attached/attach a copy here).  Therefore, as per section 7a and 7b (Remedies, Cure Period, Breach/Cancellation Provision), along with sect 8l (Cancellation) of the purchase contract, seller hereby elects to immediately cancel this transaction and requests that earnest money be released to the seller."  Be sure to have the seller sign and date.  You can do this on a "word" type document, or I have attached a NOTICE form that you could use as well.

 

CURE NOTICE, CANCELLATION AFTER CURE NOTICE EXPIRES  “Pursuant to the cure notice delivered on xx/xx/xxxx (see attached) and three (3) days having passed without the non-compliance being resolved, the contract is now in breach and the non-breaching party (seller or buyer) hereby elects to cancel this transaction as per section 7b of the purchase contract.  Earnest Money to  be immediately released to the Seller."   

 

CURE NOTICE RECEIVED, BUYER HAS FAILED TO SIGN LOAN DOCUMENTS NO LATER THAN 3 DAYS PRIOR TO COE

“No later than 3 days prior to the COE date Buyer shall either: 1) Sign all loan documents, or, 2) Deliver to seller or escrow company notice of loan approval without PTD conditions AND date(s) of receipt of Closing Disclosure(s) from lender, or 3) Deliver to seller or escrow company notice of inability to obtain loan approval without PTD conditions.”

 

If buyer is unable to sign, you can resolve this CURE by delivering an updated LSU with Line #58 and Line #62 checked YES and DATED.  This will meet the requirements of item #2 on line #73-74 of Purchase Contract in lieu of Buyer signing 3 days prior to COE.

 

CURE PERIOD NOTICE DOES NOT APPLY:  “In the event that (seller/buyer) does not/fails to (state performance) by xx/xx/xxxx, (seller/buyer) may immediately cancel this contract without delivering a CURE notice;  section 7a of the Purchase Contract shall not apply;  and Earnest Money shall be immediately (returned/released) to (seller/buyer).”   or COE shall occur on x.  Should closing not occur on July 21, 2020, this contract shall be immediately cancelled. Section 7a CURE PERIOD shall not apply to this condition.  

 

Just saying “seller/buyer may cancel” may not be enough.  RISK REDUCTION:  Otherwise, if you deliver cancellation instructions from the (seller/buyer), it could be interpreted as an improper cancellation and the (sellers/buyers) Earnest Money could be at risk.  For example, when additional terms are added to the contract, and a party fails to perform, is it curable?  (If permits are not obtained by xx/xx/xxxx, buyer may cancel).  Would this require a CURE notice?

 

CURE PERIOD DOES NOT APPLY:  Buyer and Seller agree that COE shall be on xx/xx/xxxx, and that EM shall be non-refundable to buyer in the event this transaction fails to close for any reason other than seller breach.  If the transaction does not close by xx/xx/xxxx, Buyer and Seller agree that this escrow shall be immediately cancelled with no need for a cure period notice.  Section 7a, Cure Period shall not apply.  Buyer and Seller agree that if X does not Y by xx/xx/xxxx, this contract shall be automatically cancelled without further consent or action of seller or buyer and without regard to any other cancellation provision in this contract, except for section 8b, Risk of Loss.  Section 7a, Cure Period shall not apply.  EM shall be immediately released to Seller/Buyer.  This condition may only be modified by written, mutual agreement between the parties.

 

CURE NOTICE (INVALID CURE NOTICE):  Response:  Send to Title Company, other agent.  Cure notice is not valid.  Seller/Buyer is not in breach.  No additional items were incorporated into the contract, therefore no other items convey with the property.  Seller/Buyer is in compliance with the contract.  If seller/buyer does not close as scheduled, seller will demand the earnest money/pursue all legal alternatives/sue for specific performance/initiate legal proceedings.

 

The pre closing walk thru/Cure Notice has been delivered and received by the seller.  Seller's response is as follows:  As a courtesy, the seller left the lawn equipment, Paint, tiles, and laminate flooring for the buyer.  No additional items were incorporated into the contract, therefore no other items convey with the property.  Seller is in compliance with the contract.  If buyer does not close as scheduled, seller will demand the earnest money.

CURE NOTICE:  Invalid cancellation by buyer on BINSR:  “See lines 268-272 of the purchase contract;  Buyers reasons for cancellation are not acceptable per the BINSR requirements.”

CURE Notice:  DAYS:  Q: Is a CURE Notice 3 business days? Or just 3 days?  A: Three calendar days.  If you cure for failure to close escrow, and the last day of the cure period falls on a weekend or holiday, the cure will be extended until the next business day since the title co would be closed on those days (See line's 24-25 of the pc).  See the following:  Just to make sure we're all on the same page: Curing for failure to close escrow gives the buyer an extra day (or 2) if the end of the CURE period (day 3) falls on a weekend or legal holiday. This is outlined on line #24-25 of the pc. So a CURE notice delivered on a Wednesday for failure to close the day before could theoretically end on the following Tuesday at 11:59pm if the following Monday was a holiday. Contrast that with Failure to perform per section 2b which gives the buyer 3 calendar days to remedy the CURE, weekends and holidays count...although title would be closed until the next business day and you couldn't officially cancel escrow until title is back open but the CURE would still be over after the 3 calendar days.

CURE NOTICE, UPDATE SPDS due to 1) CHANGES DURING ESCROW, 2) SUBSTANTIALLY SAME CONDITION  (Disclosure must come from seller, may initially hear from 1) title co 2) HOA 3) Listing

DATA BREACH…..5 Ways to Defend Your Business Against a Data Breach….SEE CASE STUDIES

 

DATES/DUPLICATES:  Q: I have a question.  I have wondered this for many years but keep duplicating this work.  Once I get pool safety notice, buyer advisory and wire fraud advisory signed, do I have to keep having them signed again  with subsequent offers?  A: Vicki, most of these documents are tied to a specific property, along with a purchase contract.  I think it's best that the dates match up across all documents and addendums.  That being said, if a client signs documents over the course of a few days, those dates would be acceptable.

 

DATES, DATES ON ER, CONTRACTS, ADDENDUMS:  Hi x, Yes you will need to create new addendums to go along with the ER Listing Agreement, all of the doc's should be executed and dated on or about the same time.  ADRE checks signatures and dates very closely when they audit files, plus since forms are updated from time to time this will help us ensure that we are using the most current version available.

 

DEATH:  SELLER PASSED AWAY:  Q: The Seller has passed away before we were able to close.  The POA for Shirley Barnes is no longer applicable.  We are in the process of the son (Charles IV)  being appointed Personal Representative for the Estate through an attorney.  Charles IV wants to continue the sale to Opendoor.  Opendoor, as buyer, wants to continue the sale and has sent me an Addendum continuing the sale to 4/19/2019. What would you like for me to do?  An Addendum to the Listing Agreement?  Or New Listing Agreement?  An Addendum to the Purchase Agreement?  Or new Purchase Agreement?  A: Hi X, sorry to hear about the seller passing away.  You should draft an Addendum stating something like:  The parties acknowledge that 1) the seller is deceased and the POA for Shirley Barnes is no longer valid, and 2) Charles IV_____ has been appointed Personal Representative for the Estate and will be acting as the authorized signer on behalf of the estate.  By signing below, Charles IV________   acknowledges that he has read, reviewed, approves and signed the purchase contract and all related documents and addenda and agrees to be bound by same as if  he were an original signer on each and every document.”  

DEATH:  Q: 3/27/17, From Edie Womack, her client died prior to COE...Anticipatory Breach?  No.  Called and spoke with Jessee at legal hotline.  There will be a loan denial...Buyer cannot qualify...Lender will not issue “unconditional loan approval” due to buyers inability to pay.  Unless cash, then you could sue the sellers estate.  Will need to get an attorney to proceed. 

DEATH:  Death in home “could” be revealed in Insurance Claims History report.  One agent who was selling a home where a murder occurred said the CLUE Report said something like “$12,000 Physical Peril.” (possible haz mat clean up costs).

DEATH, DO SELLERS NEED T DISCLOSE DEATH ON PROPERTY?  (SEE STIGMATIZED PROPERTY)  No.    http://www.combslawgroup.com/sellers-need-not-disclose-past-deaths-crimes/   If buyer asks, say “Let me ask the seller, I’ll get back to you.”  Then respond with “I’m not legally required to answer that question.”

DEATH, RIGHT OF SURVIVORSHIP:  TWO OWNERS ARE ON DEED, ONE IS DECEASED, RIGHT OF SURVIVORSHIP, DEATH CERTIFICATE TO TITLE:  “The parties acknowledge that second owner listed on the tax records is deceased.  Title will be corrected in escrow.” 

DEATH, ANTICIPATORY BREACH?  OR WAIT UNTIL BREACH?  Sellers have been notified that the buyer is deceased.  Sellers have also been notified that there are no heirs or assigns that will proceed with the requirements to fulfill /complete the remaining terms of the AAR Residential Real Estate Contract dated xx/xx/xxxx.  Therefore, sellers hereby deliver this CURE Notice citing “Anticipatory Breach” in that there is no indication, and no communication to sellers confirming (or that WRITTEN Notice has been received) that the estate of the deceased will fulfill the remaining requirements, terms and conditions of the Purchase Contract.”  “Seller intends to cancel this transacton after the three (3) day CURE Notice expires, and will request a release of the Earnest Money to the Seller (OR Buyer).”

DEATH, WHAT HAPPENS IF SELLER OR BUYER DIES BEFORE CLOSING?     http://aboutfloridalaw.com/2016/05/17/what-happens-if-the-seller-or-buyer-dies-before-the-real-estate-closing/

DEATH:  SURVIVING SPOUSE:  (Legal Hotline, November, 2004): Surviving Spouse can immediately transfer home owned as community property with right of survivorship:  Question: The husband and wife owned the home as community property with right of survivorship.  Three days prior to close of escrow, the husband died.  Can the transaction close in three days?  Answer: Yes.  If real property is owned by husband and wife in community property with right of survivorship (or as joint tenants with right of survivorship), upon the death of the first spouse the surviving spouse immediately becomes the owner of the real property.  In order to insure title to the Buyer, however, a title company may require certain formalities such as the recording of the death certificate, an affidavit terminating joint tenancy, and an affidavit so that no estate taxes are due.  Although the title company may require these formalities, under the law the surviving spouse is immediately entitled to transfer the real property to the Buyer.  Therefore, if the Buyer will not agree to an extension of the closing date, the surviving spouse should request the title company to close as scheduled, and to treat such formalities as the death certificate as “to come” items.  NOTE:  If a husband and wife in Arizona want the surviving spouse to own the home or other real property, the ownership can be either community property with right of survivorship or joint tenants with right of survivorship.  For tax reasons, however, community property with right of survivorship (which is obviously only available to a husband and wife) is better than joint tenants with right of survivorship. 

DEATH, TITLE, HOW WAS TITLE HELD?   http://www.alllaw.com/articles/nolo/wills-trusts/transferring-real-estate-after-death.html                                                                                                                DEATH, REVOCABLE TRUST:   http://info.legalzoom.com/revocable-trust-after-death-one-spouse-23289.html                                                                                                                                                          DEATH, TRUST, WHAT HAPPENS TO TRUST WHEN ONE SPOUSE DIES?  https://www.attorneyoffice.com/living-trust-spouse-dies/                                                                                                             DEATH: TENANT DIES, WHAT NOW? Q?  A: Sorry to hear that.  The tenant's estate is now responsible for the lease, it won't just terminate automatically.  The landlord should find out who is authorized to handle the tenants affairs and begin a dialogue with that person to terminate the lease.  Possible mutual cancellation, notice if month to month, continuance...the lease is binding on all parties so act with caution until a written agreement is reached.  Whatever they can work out and whatever is easiest for both parties, but it needs to be handled with the representative of the deceased.