Jon GoodmanCo-Author: Eric R. Jaworski, Esq. What is a CLUE Report? CLUE stands for Comprehensive Loss Underwriting Exchange. It is a comprehensive database of personal property information relating mainly to insurance claims on private property. CLUE was developed by, and is currently operated by, ChoicePoint Asset Co., a Georgia firm. What type of information is found … Continue Reading
I am aware of the legal concept that if an agent breaches his fiduciary duty to a client, the agent may forfeit his right to a commission, regardless of whether that breach of duty caused damage to the client. Does that same concept apply to transaction brokers? No. In the recent decision of Hoff … Continue Reading
I am aware that Colorado’s Designated Brokerage legislation requires all brokerage firms, even one person offices, to have a brokerage relationship policy. What are the issues which should be addressed in such a policy? General Theme The drafting of an agency policy requires the balancing of a variety of considerations. The policy should create predictability … Continue Reading
I am a broker helping buyers purchase their first home with FHA financing. The buyers knew that they needed to bring 3% of the purchase price to closing. They have had an unexpected setback and have asked me to loan them $500 to complete their 3% down payment. I know these kids are good for … Continue Reading
In Colorado, liens for unpaid real property taxes have priority over all other liens, including deeds of trust. Many of our clients know this and maintain tax escrows on loans they hold which are secured by real estate. Yet not all loans require tax escrows. Lenders with second deeds of trust rarely maintain tax … Continue Reading
This article educates readers about how to avoid inadvertently committing loan fraud. Another article on our website, “How to Commit More Loan Fraud,” intends to further help real estate professionals and sellers from inadvertently becoming caught up in such a scheme. Question: I have brokered a transaction in which the seller is willing to give … Continue Reading
Buyer and seller are under contract. After the contract is formed and before the contract closes, the market value of the property increases dramatically. Before a due diligence contingency of the deal expires, the buyer seeks an extension of the contingency. Does a transaction-broker have a duty to disclose to the seller that the … Continue Reading
Part I of this article asked – May a landlord choose to reject all tenants receiving Section 8 rental subsidies without violating Fair Housing Laws? In brief, the response to that question was that Fair Housing laws do not make all discrimination illegal. As far as this author is aware, there is no explicit prohibition … Continue Reading
May a landlord choose to reject all tenants receiving Section 8 rental subsidies without violating Fair Housing Laws? Fair Housing laws do not make all discrimination illegal. A landlord who insists upon receiving $1,000 a month rent for an apartment is discriminating against persons who cannot afford to pay $1,000 a month rent. Landlords can … Continue Reading
Co-Author: Amy E. Allison, Esq. Question: I am an architect. A builder client of mine asked me to prepare plans for an office building. After constructing the initial building, my client worked with a different architect who slightly modified the drawings to fit another site. The builder intends to construct many other versions of … Continue Reading
