When landlords decide to sell a residential rental property in California, tenants can sometimes be a bit of a wild card. Most sellers prefer to list properties vacant for a variety of reasons. Tenants have a lot of rights at law and it’s important to understand the local rules when helping to administer the end of a residential tenancy ahead of sale.
The Code of Ethics and Standard of Practice of the National Association of Realtors (“NAR”) has been a vital part of the real estate industry. It was created by NAR more than 100 years ago, and the Code now has 17 articles covering fair dealings with clients, the public and colleagues. Failure to comply can result in disciplinary action and fines. Here are some tips on how to avoid the most common ethics complaints.
The Intero Luxury International Magazine is a collection of some of the finest and most exclusive homes available in the world. This month, our cover property comes from agent Vahe Baronian. This exquisite modern Tuscan estate is situated on mostly flat 2.25 acres in Los Altos Hills!
Dispute Resolution in the CAR and PRDS purchase agreements
Both the CAR and PRDS purchase contracts have a mandatory mediation clause and an optional arbitration clause. The parties to an agreement need to initial the arbitration clause in order to invoke it, while the mediation clause is built-in as a part of the purchase agreement. Both are alternative dispute resolutions that allow the parties to resolve matters privately rather than through litigation. However, mediation and arbitration should not be confused with each other as they have significant differences.
The purpose of antitrust laws is to preserve a competitive economy in the free market. Under Section 1 of the Sherman Act, “[e]very contract, combination in form of trust or otherwise, or conspiracy, in restraint of trade… is hereby declared illegal.” When two or more brokerages conspire to restrain trade, a per se violation of the Act arises. In a per se violation, the intent of the wrongdoer does not matter. As long as the conduct occurs the violator is liable. Potential per se antitrust violations include price/term fixing, boycotting, and market allocation.
There are severe penalties for violations of antitrust laws. These can include 1) prison sentences of up to 10 years per offense, and 2) fines of up to $1,000,000 on each individual perpetrator.
The Intero Foundation, a non-profit devoted to helping children and elderly in need, is pleased to announce the donations made to 42 organizations in 2018. The Foundation gave $502,723.64 to local organizations that support low-income and disadvantaged youth, as well as elderly in need. Included in this total was $52,451.64 that was raised specifically for the victims of devastating fires in Northern California. Since its inception in 2002, the Foundation, which is funded, promoted and governed by Intero’s agents and employees, has donated more than $5.5 million.