‘Did You Know’ Archives
Real Estate Sales Results
Realtors Do Not Sell Homes, Realtors Market Homes FSBO sales sell on average 13% less than market value
Title Insurance
Protects the purchaser from defects in title The Title Insurance Act of 1990 requires that all producers of title insurance who own a part interest in a title company disclose this fact to clients Producers of title insurance include lawyers, [Click to Read More...]
Financing
Title-Theory States, the lender actually owns the property until the debt is paid off. If the borrower defaults, the lender has the right to immediate possession. Lien-Theory States, a lien is placed on the property until the debt is repaid. If [Click to Read More...]
Foreclosures, Redemption, Judicial Deeds, and Deficiency Judgements
Judicial Foreclosure Judicial Foreclosure allows the property to be sold by court order after the borrower has been given sufficient public notice. The property is sold in an auction at the courthouse. Non-judicial Foreclosure is allowed when [Click to Read More...]
Real Estate Antitrust Laws
Price-fixing is illegal. Managing Brokers must independently determine commission rates or fees for their own firms only. Commission and fee revenue must be based on the Managing Brokers’ business judgement and revenue requirements without [Click to Read More...]
Did You Know These Real Estate Facts?
Realtors may not price-fix commission rates. Discount real estate services have been around for decades. Property disclosure laws affect “for sale by owner” properties. Congress passed a law that requires Private Mortgage Insurance to be [Click to Read More...]
Multiple Listing Service (MLS)
The Internet gives consumers delayed access to the Multiple Listing Service (MLS). The MLS is owned by the members of the Realtor Association. For Sale By Owner (FSBO) Tools Newspaper Ads Yard Signs Referral Networks sell 8% of the [Click to Read More...]
