Not exact matches
A preliminary
agreement, secured by the payment of an earnest money deposit,
under which a buyer offers to
purchase real estate.
We
purchase commercial
real estate leased to tenants
under long - term net lease
agreements, generally 10 - 20 years.
Document review; including the
real estate purchase agreement and disclosures required
under Illinois law
Anders represented a state - owned
real estate company in arbitration proceedings over claims
under a
real estate sale and
purchase agreement.
All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let
real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken
under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to
purchase, or to options based upon a substantial consideration actually paid and not subject to any
agreements to return or right of return reserved.»
SACRAMENTO — The state Department of Insurance has reached an
agreement with the state title insurance industry to more strictly enforce the prohibition against kickbacks to
real estate salespeople and brokers.The title industry agreed not to offer such incentives as
under - the - table payments, car - lease payments, and
purchases of computer equipment.
Coldwell Banker Village Green Realty v. Pillsworth (32 A.D. 3rd 568 [3rd Dept.]-RRB-- Order of the Supreme Court granting broker's motion for summary judgment affirmed; in the absence of an
agreement to the contrary, the broker's right to a commission is not contingent upon performance of the underlying
real estate contract, receipt by the seller of the sale price, transfer of title, or even a formal execution of a legally enforceable sales contract; seller could not utilize the provisions of a subsequently executed sales contract wherein seller agreed to pay broker's commission «if and when title closes» as a bootstrap to avoid her obligation to the broker
under the clear and unambiguous provisions of the listing
agreement as such language was contained in the contract of sale prepared by counsel and to which broker was not a party; provisions in listing
agreement that seller would accept a binder or
purchase contract contingent upon purchaser's ability to obtain conventional financing and provided any other contingencies in the binder or
purchase agreement are acceptable to the seller speak only to the type of
purchase offer that seller was obligated to accept and does not alter or otherwise qualify broker's right to a commission
American Corporate
Real Estate v. Lifetime Hoan Corp. (233 A.D. 2d 413)- broker not entitled to commission where building ultimately
purchased by buyer was not available for
purchase when broker introduced buyer to building;
under facts of the case, broker's allegation of oral exclusive broker's
agreement is insufficient to warrant denial of buyer's motion for summary judgment.
79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing
agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing
agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing
agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business
under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for
purchase and sale of
real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar /
real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing
agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend
purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating
purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to
purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained
The deposit to be disclosed
under § 1026.37 (h)(1)(iv)(A) is any amount that the consumer has agreed to pay to a party identified in the
real estate purchase and sale
agreement to be held until consummation of the transaction, which is often referred to as an earnest money deposit.