Continuing Ed Class | Wire Fraud

posted May 15, 2019, 5:03 PM by Brian G. Walsh   [ updated May 15, 2019, 5:04 PM ]


Broker's Open..

posted May 13, 2019, 5:25 PM by Brian G. Walsh   [ updated May 13, 2019, 5:26 PM ]

Linda and Tracey will have a brokers open Tuesday at 147 S. Main in Wellington, 12:00 - 2:00. This is a historic, renovated Greek Revival property... it will be worth the drive! Lunch and/or snacks, $50 gas card drawing, blooming English gardens..... what more could you want😍 Looking for your thoughts on price. 

PS: If you cannot make it but could come at a different time, let us know!! We'll accommodate you!!

I'm home..

posted May 13, 2019, 12:58 PM by Brian G. Walsh   [ updated May 13, 2019, 12:59 PM ]

Got home around 1:00pm.  Doing fine.  Working on stuff sporadically.  Should be back to full tilt tomorrow.  Thanks, BGW

Ladies..

posted May 12, 2019, 6:16 AM by Brian G. Walsh   [ updated May 12, 2019, 6:16 AM ]

Happy Mother's Day!

Thanks,

BGW

Monday May 13th | I will be unavailable in the morning through mid-afternoon..

posted Apr 26, 2019, 12:12 PM by Brian G. Walsh   [ updated May 4, 2019, 12:17 PM ]

I have scheduled my kidney stone procedure for the above date.  Anything you can do to lighten the load would be appreciated.  This an outpatient gig and I won't be down for more than a day.  Thanks, BGW

Legally speaking: Can I write a purchase contract for parties involved in a FSBO transaction?

posted Apr 23, 2019, 5:06 AM by Brian G. Walsh   [ updated Apr 23, 2019, 5:06 AM ]

By Peg Ritenour, OAR Vice President of Legal Services/Administration

Q: I was contacted by a former client who found a FSBO he wants to purchase. He and the seller have already negotiated the terms, but they want me to draft the purchase agreement and will pay me $500.00.  Can I do this?  Who would I represent?  Am I required to show the buyer the house before writing the purchase agreement?

A: While it is important to clarify who you will represent in this situation, the first and most crucial issue that must be addressed is the potential risk that you could be found to have engaged in the unauthorized practice of law by merely drafting a contract for the buyer and seller. Under Ohio law, drafting legal documents for third parties is conduct that requires a license to practice law. However there is a exception that permits a real estate licensee to fill in the blanks on pre-printed, form purchase contracts and leases that have been prepared by an attorney. This is because such conduct is perceived as falling within the ordinary course of a licensee's business duties. But in the situation where a licensee is being hired to merely write a purchase contract on behalf of buyers and sellers for a fee, such conduct could be considered the practice of law if you are not also performing any other duties that are part of your real estate related services as a licensee. Thus, to avoid a claim that you engaged in the unauthorized practice of law, you need to make sure that you are providing other services that you would normally perform as a real estate licensee. Examples of such duties would include showing the property, reviewing comparable sales in the area, making sure that the seller has provided the buyer with the Residential Property Disclosure Form and the Lead-based Paint Form (if required), assisting with the financing and inspection process, and other steps necessary to see the transaction through to closing. In determining what services will be provided, it is important to understand that under Ohio licensing law you must establish an agency relationship with either the seller, the buyer or both. Moreover, Ohio law also specifies that you owe that client(s) fiduciary duties of due care and diligence, obedience, confidentiality, disclosure, etc. In this scenario you should clarify with the parties who you will represent, what services will be provided, what your compensation will be and who will pay it. Your agency choices would be to represent the seller only, the buyer only, or both as a dual agent. Once that is decided you will be able to better determine the services that you will perform. Of course this agreement should be reduced to writing and because it will likely constitute an agency agreement, it must contain the fair housing language and logo and a definite expiration date.

This content is copyright 2019 Ohio REALTORS.

Zillow / Trulia syndication..

posted Apr 12, 2019, 12:17 PM by Brian G. Walsh   [ updated Apr 12, 2019, 12:17 PM ]

Good day TFPs,

On Monday we will be switching methods for syndicating our listings to Zillow from HomeSmart to our MLS.  HomeSmart's system has been relatively reliable but we have had a few hiccups so I did my due diligence and by going with the MLS method we will remove two links from the chain which will lower the risk of issues.  You do not need to do anything but we may have a short period of down time where our listings don't appear on Monday.

Thanks,

BGW

Home Inspector Licensing effective 4-4-19 (how it affects us)..

posted Apr 11, 2019, 10:23 AM by Brian G. Walsh   [ updated Apr 11, 2019, 10:24 AM ]

If a real estate broker or real estate salesperson provides the name of a home inspector to a purchaser or seller of real estate, the broker or salesperson shall provide the buyer or seller with the names of at least three home inspectors. Any home inspector named shall be licensed under Chapter 4764. of the Revised Code.

Providing a purchaser or seller of real estate with the names of licensed home inspectors does not constitute an endorsement or recommendation of those inspectors and does not obligate the broker or salesperson to satisfy any due diligence requirements with respect to the licensed home inspectors.

This section does not require a broker or salesperson to provide purchasers or sellers of real estate with information on home inspection services or home inspectors. No cause of action shall arise against a broker or salesperson for providing or failing to provide the names of licensed home inspectors or information on home inspection services or for failing to recommend a licensed home inspector to a purchaser or seller


Amending the residential property disclosure after it has been completed..

posted Apr 9, 2019, 6:18 PM by Brian G. Walsh   [ updated Apr 9, 2019, 6:18 PM ]

At our meeting we discussed the above topic.  My stance is the same as it is with a fully executed contract (use a separate amendment, do not update or replace a completed document).  If something occurs after the home is listed and it requires updating the property disclosure I would ask that you please use a new form that I have provided in the Addenda section of our Documents entitled Residential Property Disclosure Amendment.  I discourage updating the existing disclosure or replacing it with a new one as it lends towards confusion and possible errors in updating the form in supplements and in our paperless system which can fall back on us should the buyer not receive proper documentation.  Thanks, BGW

Buyer / Seller Letters..

posted Apr 4, 2019, 9:59 AM by Brian G. Walsh   [ updated Apr 4, 2019, 9:59 AM ]

Prior to our meeting I spoke Peg Ritenour at OAR to get some guidance on above and we had a discussion about it at the meeting.  It is too much to spell out here so if you use either of the above or plan on it please get with me and we can discuss it.  Thanks, BGW

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