Caveat REALTOR®

Latest Episodes:

Caveat REALTOR®: Independent Contractors Mar 27, 2018

Show notes

This week, the Virginia REALTORS® legal team discusses the difference between independent contractor relationships and limited service agreements. Erin and Jon talk about the duties owed by real estate licensees to their clients in each of these situations, and how the relationships differ in significant ways. They also answer some legal hotline questions, such as “Can my firm offer both full- and limited-service relationships?” and “If I have an independent contract with a Seller, do I have to disclose that to an unrepresented party?”.

Caveat REALTOR®: Incapacitated Clients Mar 20, 2018

Show notes

This week, the Virginia REALTORS® legal team discusses incapacitated clients and how that incapacity affects real estate deals. Erin and Cate discuss how age, mental capacity, and intoxication affect the ability of clients to enter into binding agreements in Virginia. They also answer some legal hotline questions, including one where a client is diagnosed with Alzheimer’s Disease prior to ratification of the sales contract.

Caveat REALTOR®: Mediation vs. Litigation Mar 13, 2018

Show notes

This week, the Virginia REALTORS® legal team discusses mediation versus litigation in real estate disputes. Laura and Austin talk about the differences between formal (litigation) and informal (mediation) resolutions to disputes in the court system, and they discuss how Virginia REALTORS® forms address this issue. They also answer some legal hotline questions such as, “What’s the point of going to non-binding mediation?” and “Who can I use as a mediator?”.

Caveat REALTOR®: Property Management and Mold Mar 06, 2018

Show notes

This week, Virginia REALTORS®’s legal team discusses the responsibilities of landlords and property managers with regards to mold. Erin and Jon review landlord requirements for remediation under the Virginia Residential Landlord Tenant Act when a tenant reports evidence of visible mold. They answer some legal hotline questions, such as “What are the 'professional standards' for mold remediation?” Finally, Erin and Jon discuss how property managers can limit their risk when they receive reports of visible mold in rental properties.

Caveat REALTOR®: Atlantic Coast Pipeline and Disclosures Feb 27, 2018

Show notes

This week, Virginia REALTORS®’s legal team discusses the Atlantic Coast Pipeline, also known as the Dominion Pipeline. Erin and Austin discuss what the Atlantic Coast Pipeline is, and explore what a real estate licensee’s disclosure requirements may be for properties in the proposed pipeline’s path. They answer some legal hotline questions, such as “I have a seller that lives in a county that is in the pathway of the pipeline. She believes that her property will be directly affected, and wants to know if she must disclose this to potential buyers?” Finally, Erin and Austin discuss how real estate licensees can limit their risk when working with buyers and sellers in the areas affected by the proposed pipeline.

Caveat REALTOR®: Co-Marketing Agreements and RESPA Feb 20, 2018

Show notes

This week, Virginia REALTORS®’s legal team takes another look at the Real Estate Settlement Procedures Act, or RESPA, by focusing on co-marketing agreements. Erin and Jon discuss what exactly co-marketing agreements are and how RESPA treats these types of agreements. They answer some legal hotline questions, such as “I have a co-marketing agreement with a settlement company. I typically pay for all the marketing and have the settlement company reimburse me for half, but it varies depending on the number of referrals that we receive from the settlement company. Is this problematic?” Finally, Erin and Jon review some ways to limit your risk when engaging in co-marketing agreements.

Caveat REALTOR®: Road Maintenance Agreements Feb 14, 2018

Show notes

This week, the Virginia REALTORS®’s legal team discusses Road Maintenance Agreements. Laura and Jon talk about the Property Owners' Association Act and its requirements, and then take a closer look at Road Maintenance Agreements and whether they must be disclosed to prospective buyers. They answer some legal hotline questions, such as “If the current owners have a verbal agreement to chip in whenever the common driveway needs repair, is there anything I need to disclose?” Finally, Laura and Jon discuss some ways to limit your risk when buying or selling a property subject to a Road Maintenance Agreement.

Caveat REALTOR®: Tax Reform Feb 06, 2018

Show notes

On this episode of Caveat REALTOR®, Virginia REALTORS®’s legal team provides an overview of the sweeping federal tax reform bill passed by Congress in late 2017. Jon and Austin discuss how the bill affects individual and business taxpayers, and specifically how the new framework impacts real estate professionals.

Caveat REALTOR®: Dual vs Designated Agency Jan 30, 2018

Show notes

This week, the Virginia REALTORS®’s legal team discusses agency, which is one of the most popular topics on the legal hotline. Austin and Cate discuss the distinction between dual and designated agency in real estate transactions. They review some legal hotline questions, such as “When representing a seller and a buyer as a dual agent, should I disclose to the buyer that the seller has told me that the property will go to foreclosure in 30 days?” Finally, Austin and Cate review some ways agents can limit their risk when engaging in dual or designated agency, such as by establishing clear office policies.

Caveat REALTOR®: Property Management and Utilities Jan 23, 2018

Show notes

After a week of frigid temperatures and many reports of burst water pipes, the Virginia REALTORS®’s legal team discusses property management and what to do if there is an interruption in the utilities that you are required to provide to your tenants. Erin and Laura discuss what utilities a landlord is requires to provide under the VRLTA and what actions landlords and tenants need to take when there is a problem with the utilities. They answer some legal hotline questions, such as “My tenants left for the holidays and turned off the heat. The housekeeper went by the house during their absence, turned on the heat, and a pipe burst. Can I hold their security deposit for the damages?” Finally, Erin and Laura discuss some ways to limit your risk when managing property to ensure that you and the landlord comply with the requirements of the VRLTA and the lease.

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