Q: I understand that real estate licensees may provide ministerial acts in a residential real estate transaction. What is a ministerial act? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: Please walk me through the process for completing the Consent for Dual Agency form, especially the “AFFIRMATION” section on the bottom of the second page. Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: I am the broker for a small company and I still take listings. If another agent in my office has a buyer client interested in my listing, how can we make dual agency work? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: Once the seller/lessor signs the listing agreement, must I give seller/lessor the Understanding Whom Real Estate Agents Represent form so that the seller/lessor can acknowledge that I represent the seller/lessor? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: Once the buyer/tenant signs the buyer/tenant broker agreement, must I give the buyer/tenant the Understanding Whom Real Estate Agents Represent form so that the buyer/tenant can acknowledge that I represent the buyer/tenant? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: Must I provide the Understanding Whom Real Estate Agents Represent form at an open house? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: What must I disclose if the first contact between a buyer’s agent and an unrepresented seller/lessor is not a face-to-face? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: What must I disclose if the first contact between a seller’s agent or subagent and an unrepresented buyer/lessee is not face-to-face? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: When is a licensee required to provide the Understanding Whom Real Estate Agents Represent form? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: Can a licensee who previously acted as a subagent or seller’s agent switch hats and represent the buyer? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q: Is there a document I can use to help explain Maryland Agency law to my clients? Agency August 23, 2019 By Sandi Frazer Agency 0 0 Comment Read More »
Q. Does the Broker’s Act require real estate licensees to list their license category in all advertising that involves the sale, rent, or offer to purchase real property? Advertising August 23, 2019 By Sandi Frazer Advertising 0 0 Comment Read More »
Q. What are the requirements for real estate advertisements in the state of Maryland? Am I required to use the Equal Housing Opportunity and REALTOR® logos? Advertising August 23, 2019 By Sandi Frazer Advertising 0 0 Comment Read More »
An individual who has submitted an application for tenancy have a service dog or comfort animal? Can the Landlord turn down tenant if the Landlord has a “No Pets” policy? Can the Landlord charge a pet deposit? When does the agent have to disclose that a prospective tenant has a service animal? May 3, 2017 By Cindy Sellers Ethics, Transactions Involving Condos 0 0 Comment Read More »
Does a licensed real estate professional become a foreclosure consultant when a past client who is a homeowner in default or foreclosure, contacts the agent and asks for assistance in contacting the current mortgage lender or refinancing the property if it is in default or foreclosure, even if the licensee is not paid for this service? May 3, 2017 By Cindy Sellers Distressed Properties 0 0 Comment Read More »
Is a licensed real estate agent, who represents a buyer under a buyer agency agreement considered a foreclosure consultant if he contacts, on behalf of his buyer-client, an unrepresented homeowner in default who has his property advertised in the local paper (i.e., a “for sale by owner” situation)? May 3, 2017 By Cindy Sellers Distressed Properties 0 0 Comment Read More »
I would like to prepare a BPO for a bank. What do I need to know? Is it legal for a Maryland real estate licensee to prepare a Broker Price Opinion for a fee? If so, must I include the Competitive Market Analysis disclosure? May a salesperson or associate broker receive payment for a BPO directly from the person requesting it? May 3, 2017 By Cindy Sellers Distressed Properties 0 0 Comment Read More »
In the Maryland Homeowners Association Act (HOA) (Title 11B, Section 106 (f)), it states that “the provisions of subsections (a), (b), (d), and (e) of this section do not apply to the sale of a lot in an action to foreclose a mortgage or deed of trust.” I assume this means that if a bank institutes foreclosure proceedings, no HOA disclosure requirement is enforced. But does that also apply to a bank-owned property that the bank is selling as a result of acquiring the property in foreclosure? Is the bank exempt from providing HOA docs to the potential purchaser and that the 5-day right of rescission does not apply? May 3, 2017 By Cindy Sellers Distressed Properties 0 0 Comment Read More »
I list REO properties. In many cases, I am contacted after the foreclosure sale, but before the sale is approved (ratified) by the court. Other times, I am informed that the seller has a deed, which is unrecorded. In this case, the tax records indicate the former owner is still the owner of record. This situation is very confusing to listing agents as well as buyers and buyer’s agents. What is my obligation concerning disclosure of the status of the title of an REO listing? May 3, 2017 By Cindy Sellers Distressed Properties 0 0 Comment Read More »