Co-Author: Richard B. Peddie, Esq. What is necessary to satisfy a requirement for “loan approval” in a financing contingency contained in a real estate contract? The answer to this question depends upon two things: (1) what constitutes loan approval under the contract; and (2) whether or not the loan approval clause, and its requirement, can be … Continue Reading
Co-Author: Oliver E. Frascona, Esq. I have a lease listing. A potential tenant initially contacted me through another broker. Now the potential tenant wants to work with me directly. How can I avoid a procuring cause dispute with the broker who initially brought me the tenant? Some brokers invest substantial time with owners, buyers, and … Continue Reading
I am a commercial landlord. A tenant breached a lease and voluntarily vacated the property prior to its expiration. I re-rented the premises at a higher rate than was charged to the first tenant. The first lease provided that upon an early vacation by the tenants, I am able to retain all of the security … Continue Reading
Co-Author: Richard L. Levy Most restaurants and all bars require a liquor license to survive. Much of the value of a property can depend upon a liquor license. A successful sale or lease of commercial real estate may depend upon the new occupant’s ability to obtain a new or transferred liquor license. This article outlines some … Continue Reading
Purchasing real estate for investment purposes may be the easy part. Managing the property can be the challenge. Multiple unit dwellings and commercial buildings are often managed by a property manager or property management company independent of the property owner. Single unit or single properties or duplexes, on the other hand, are often managed by … Continue Reading
Relationships Made Easy By Marital And Cohabitation Agreements Are you planning on getting married, but want to decide in advance what to do if the marriage does not last “forever?” Or, are you married, but realize that if you do get divorced, you want it go as smoothly as possible without a lot of expense … Continue Reading
For years buyers were told that the solution for those nagging “property condition” problems was to have a new home inspected and obtain a Homeowner Warranty Policy (“HOW”). That way the buyer would know the current condition of the property, and if certain things failed, there was a policy to cover them. Some real … Continue Reading
What are the pitfalls of structuring a seller-financed transaction through an installment land contract? Though the Real Estate Commission dropped its approval of the use of Installment Land Contracts (“ILCs”), consumers still frequently ask brokers about ILCs. Even in its pre-disapproval comments, the Manual stated: “this instrument is full of pitfalls for both buyer and … Continue Reading
What are some of the important considerations for the REALTOR® who is contemplating a procuring cause dispute? REALTORS® contemplating procuring cause disputes should be aware that the points to consider tend to divide themselves into procedural and substantive matters. PROCEDURAL CONSIDERATIONS A REALTOR®’s right to arbitrate arises out of Article 17 of the Code of … Continue Reading
You’ve probably worked long and hard to develop your business to the point where it is today. Along the way, you may have developed customer lists, business knowledge, business methods, technology or other processes which help you to be competitive. These items may be “trade secrets.” If you fail to take proper steps to make … Continue Reading
