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Ruling on Transaction Brokerage

  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

Disclosure of an Affiliated Business Arrangement

Co-Author: Brad M. Lund, Esq. I am a real estate broker. If I refer a potential mortgage customer to a mortgage business in which my husband is employed or has an ownership interest, must I give the customer an “affiliated business arrangement” disclosure when making the referral? Under RESPA (the Real Estate Settlement Procedures Act), disclosure … Continue Reading

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