SPA: ABOVE GROUND SPA: BUYER DID NOT MARK BOX ON PC FOR ABOVE GROUND SPA (LINE #59-60),  Doris A. question... Q: Should she put something on the BINSR, ie remove above ground spa?  A: NO...this could potentially bring that item back into play, if put on BINSR now seller thinks they can say yes or no when the contract already addresses that. (ie, line #59-60 not marked).

SPECIFIC PERFORMANCE:  Buyer can sue seller for specific performance, every parcel is unique, no two are alike.  Seller usually sues buyer for monetary damages.    https://www.hg.org/legal-articles/when-specific-performance-may-be-ordered-in-a-real-estate-transaction-46757

SPOOL:  Q: i have a listing that has a very small pool with a water feature (fountain) and has a filter system, etc..  i have it listed as a play pool - but not really sure what it is.. You can sit in it, its 3 feet deep, its about 12 x 18 so not very big -- should i leave as play pool in features, or no pool????    One agent didnt like that i put it in as a play pool -  A: Hi Jerry, As you might suspect, this is a pretty subjective thing. It sounds a bit more like what some people refer to as a Spool. Anyway, I'd probably put something in the Private Remarks stating that it's a very small pool (not a play pool or diving pool) and change the description on MLS to simply say private pool. It's sort of like saying the den could easily be converted into a 4th bedroom on a 3-bedroom home. Hope that helps!  

SQUARE FOOTAGE, CONTACT CITY PLANNING AND ZONING FOR SQUARE FOOT DISCREPENCIES:  GUEST HOUSES:  SEE ARMLS, SQ FT GUEST HOUSES

 

SQUARE FOOTAGE DISCREPENCY IN TAX RECORDS:  Q: Hi my name is Roger Artates one of your sales agent. I listed my own property at 5222 W T Ryan Lane, Laveen AZ, 85339. We  already have avsigned a contract on this.  There is a conflict on the square footage of the house in the listing compared to the assessors record. I listed the house at  2509 sq.ft (source, builders) but I just noticed that in the assessors record it is only 1984 sq.ft. I pulled out our record from the appraiser when we purchased (year 2010 ) the property and it shows the gross livable area are 2515 sq.ft. Showing all the dimensions of the livable area.  Also, one of my neighbor had the same model and floor plan with home address 5125 W T Ryan Lane also listed their property with 2509 sq.ft. And has the same square footage 2509 sq.ft in the assessors record.  Please let me know what action should I take to clear this up. 

A: Reach out to the Maricopa County Assessors Office. There is clearly a mistake in their records which they need to correct.  I'm not sure if they will send someone out to measure, but I believe they will do that when a correction needs to be made.  That is a significant discripency that needs to be corrected.

SQUARE FOOTAGE:  CASE STUDY: Q: So I am getting ready to take a listing. Sellers says oh by the way the tax records are wrong in 1985 my parents added a BASEMENT and additional Master bed and bath adding about 1000 sq. ft.  Where do I even start with this?  Do I have them go to the City of Chandler to have it back permitted?  Do we try to sell without doing this?  Not even sure how we would comp it out.  Any suggestions is greatly appreciated.  A: Hi X,  I'd just list it at the higher sqft number and then state "Per Owner" on MLS.  They don't have to go thru the permitting process if they don't want, they just need to disclose whether or not permits were ever pulled.  Then it's up to the Buyer if they're comfortable with that.  You're right about comps, especially with an unpermitted addition.  You may want to suggest to them that they get an independent appraisal since it's such a unique property.  That's always the best solution in a situation like this. KF.

STANDARD OF PRACTICE = AAR CURRENT FORMS, Company Policy is to use AAR forms, using another/any other contract may negate E&O coverage.

STANDARDIZED FORMS:  The use of standardized and legally approved association forms may give the DB an advantage when seeking quotes for Errors & Omissions Insurance due to the decrease in liability.

STATUTE OF FRAUDS:  44-101. Statute of frauds    Snell & Wilmer Statute of Frauds: (1) Email as “Writing” and (2) Email Signature as “Signature  Arizona, like most states, has a Statute of Frauds that essentially requires real estate related contracts to be both (1) in writing and (2) signed by the party to be charged.  A.R.S. § 44-101.  Questions often arise as to whether an email can satisfy the “writing” requirement, and whether an electronic signature can satisfy the “signed by the party to be charged” requirement.  The answer to these questions, like many legal questions, is: it depends.  Whether an email can satisfy the “writing” requirement might depend on whether the transaction relates to interstate commerce.  Pursuant to federal statute, 15 U.S.C. § 7001, an email will satisfy the writing requirement in many cases; but the federal statute would only apply if the transaction related to interstate commerce.  Arizona has a similar statute, A.R.S. §§ 44-7005 and 44-7007, but the Arizona statute allows an email to satisfy the writing requirement “only to transactions between parties each of which has agreed to conduct transactions by electronic means.”

STATUTE OF LIMITATIONS:  (See Chart at bottom of page). In real estate law, the statute of limitations is seven years from the date of discovery, so law suits can happen many years after a transaction has closed or cancelled. 

STATUTE OF LIMITATIONS:  What is the Statute of Limitations?  Statute of limitations is the time limit within which a lawsuit must be brought.   A lawsuit must be filed before the time limit or else it will be forever barred.   The purpose of the limitation is to protect defendants from stale claims where the plaintiff has slept on his/her rights.  The applicable statute of limitations depends on the type of litigation or the nature o   the criminal offense.  In Arizona, the statute of limitations for civil cases range from 180 days to six years.  Below is a table of some common statute of limitations:

https://www.bcattorneys.com/news-highlights-events/view/knowing-your-statute-of-limitations      BURCH & CRACCHIOLO 602-274-7611

STATUTE OF LIMITATIONS:  Statute of limitations regarding liability of sellers and brokers: ARIZONA REPUBLIC ARTICLE: NOVEMBER 29, 2020  CHRIS COMBS

Note: A new home buyer has eight years after completion of the new home to file a claim against a homebuilder for a construction defect. A.R.S. §12-552. Even a subsequent buyer of the new home has up to eight years after completion of the home to bring a claim against the homebuilder for a construction defect, if the subsequent buyer had a home inspection which failed to discover the construction defect.                                                                                                                    https://combslawgroup.com/statute-of-limitations-regarding-liability-of-sellers-and-brokers/

STATUTORY AGENT NOT ALLOWED:  Q: I have a client who is relocating to another state and wants me to rent out his home.  He does not want to hire any property management company as he says he "cant afford it".  However I have a concern here, he would require an "in-state" statutory agent.  He does not know anyone here who could take up that role, and wants to know if I can be the statutory agent for him.  I understand that I cant take up the role of property manager, and have made this clear to him .  However can he name me as his statutory agent?  Does the person being named as a statutory agent need to have any particular qualifications/conditions in addition to being in-state?  A: Good Morning, No you cannot be the statutory agent for this person, unfortunately.  We don't allow our agents to do that along with property management.  As far as rules associated with who can and cannot be a statutory agent, I would have the owner research that.  It's information that he should decipher on his own as it's outside out area of expertise.  KF

STEERING:  SEE FAIR HOUSING

STIGMATIZED PROPERTY, DO AGENTS/SELLERS NEED TO DISCLOSE DEATH ON PROPERTY?   NO!  If buyer asks, say “Let me ask the seller, I’ll get back to you.”  Then respond with “I’m not legally required to answer that question.”

STIGMATIZED PROPERTIES:  Discover the Home’s Past the Seller Won’t Tell You 

https://magazine.realtor/daily-news/2018/10/17/discover-the-home-s-past-the-seller-won-t-tell-you?om_rid=AAFBp8&om_mid=_Bb0iDFB9tznyxu&om_ntype=NARWeekly

STUPULATION:  noun:  a condition or requirement that is specified or demanded as part of an agreement. "they donated their collection of prints with the stipulation that they never be publicly exhibited"  Similar, Condition Precondition, Provision, Prerequisite

SUBDIVISION LAWS, ARIZONA    http://www.verdevalleyrealestate.com/Arizona_Subdivision_Laws/page_2234245.html

SUBDIVISION, PLATTED SUBDIVISION:  Q:  What is a platted subdivision?  A:  A map of a town or a section of land that has been subdivided into lots showing the location and boundaries of individual parcels with the streets, alleys, easements, and rights of use over the land of another. A plat is usually drawn to scale. See: intertwine, land, plot.

“SUBJECT TO PROBATE COURTS APPROVAL.”

 

SUBLEASING: Q: Is there a provision in the lease agreement that states that subleasing of the property is prohibited?  I thought there was, but in reading thru to check this morning, I'm not seeing anything.  I also did a search in the AZLTA thinking that maybe it was there, but didn't find anything of note either.  A: I think line's 14-17 of the residential lease agreement address this issue/question...Assignment and Occupancy restrictions.

SUBLEASING:  Q: So I have a past client who's found a tenant for his house and I'm considering writing the lease for them.  The tenant will be "subletting a bedroom" to a friend of hers.  I've never written a lease like this with a sublet. Is there anything I should know that I don't know?  Is there any information I should share with the landlord that he might not be thinking about?  A: Hey X, The subletting would be between the niece and the friend renting the room, it wouldn't be part of the lease agreement between the niece and your client.  The only mention would be on page 6 of the lease agreement you'd want to say that the landlord approves the tenants ability to sublease one of the rooms.  Other than that, whatever agreement the tenant and her friend come up with will be between them.

SUBPOENA,  Deposition Subpoena to produce documents:  HERE

SUBSEQUENT EXECPTIONS: 

“SUBSTANTIALLY THE SAME CONDITION” (PREMISES MUST BE IN SUBSTANTIALLY THE SAME CONDITION)

Sellers have/have not provided an updated SPDS and notification to Buyers that a slab leak/water leak/flood has occurred during the escrow period.  This notification is a requirement at outlined in the AAR Residential Real Estate Purchase Contract, section 4f, CHANGES DURING ESCROW. 

“Seller(s) has/have not delivered the Premises in substantially the same condition as of the date of contract acceptance.”  (NOTE ISSUE, IE, SLAB LEAK, FLOOD/WATER LEAK, DAMAGE, DEAD LANDSCAPING, MISSING FIXTURES, ETC).

Seller is obligated to deliver the premises in substantially the same condition as of the date of contract acceptance as outlined in the AAR Residential Real Estate Purchase Contract, as follows:

WARRANTIES, section 5a “Seller shall maintain and repair the Premises so that at the earlier of possession or COE, the Premises, including all personal property included in the sale, will be in substantially the same condition as of the date of contract acceptance.”

WALKTHROUGH(S), section 6l “Seller grants Buyer and Buyer’s inspector(s) reasonable access to conduct walkthroughs(s) of the Premises for the purpose of satisfying the Buyer that any corrections or repairs agreed to by the seller have been completed, and the Premises are in substantially the same condition as of the date of contract acceptance.”

RISK OF LOSS PROVISON, section 8b:  AAR Residential Real Estate Purchase Contract, section 8b, RISK OF LOSS:  If there is any loss or damage to the Premises between the date of Contract acceptance and COE or possession, whichever is earlier, by reason of fire, vandalism, flood, earthquake, or act of God, the risk of loss shall be on Seller, provided, however, that if the cost of repairing such loss or damage would exceed ten percent (10%) of the purchase price, either Seller or Buyer may elect to cancel the contract. 

You should also think about some indemnification language and re-emphasize the Buyers seeking legal advice.  Buyer agrees to indemnify and hold harmless HomeSmart and Selling Agent regarding slab leak repairs.  "Should Buyer/Seller close escrow with incomplete repairs, Buyer does so against the advice of HomeSmart.  Buyer agrees to defend, indemnify and hold harmless HomeSmart against any and all claims that may be made regarding the property and its condition."  BUYER/SELLER IS HEREBY ADVISED TO SEEK LEGAL, TAX AND ANY OTHER PROFESSIONAL ADVICE DESIRED BY CLIENT.”

SUBSTANTIVE:  Having a firm basis in reality and therefore important, meaningful, or considerable.  "there is no substantive evidence for the efficacy of these drugs"

https://www.google.com/search?q=substantive&oq=SUBSTANTIVE&aqs=chrome.0.0l6.2956j0j8&sourceid=chrome&ie=UTF-8

SUN CITY: REC CENTER FEE, AKA ASSET PRESERVATION FEE:  Here's the scoop from our pal Allan Harsh on the west side....If you sell your home in Sun City and purchase another home in Sun City within 6 mos, the $3500 asset preservation (rec center) fee is waived. He can tell us more if we meet him at the 19th hole Saturday at noon.  

SUPER USER/MLS:  Q: Anybody know the answer? I was advised by MLS to obtain direction/approval from our broker for myself and wife, who now are on the same team, to be able to access each others MLS at the same time if needed. My ID is MH805 and hers is JH897. thanks! 

A: I have responded to emails from ARMLS granted permission, but ARMLS usually just emails me. TM A: Yes, they need to request for SuperUsing with ARMLS who will copy Trudy on the email to approve. Laurie

 

SUPER USER/ARMLS ADMIN:  If agents inquire about having an Admin for ARMLS, please advise them that I will need their name, email, physical address and telephone number.  The agent requesting the admin will need to provide their MLS agent ID and MLS office code before I can submit.  If they are looking to have an agent with HomeSmart Super Use for them, the agent will need to be a subscriber of ARML and both need to provide their MLS agent IDs.  Thank you, LM.

 

SUPERVISION POLICY:  BROKER SUPERVISION POLICY:  ADRE Broker supervision policy outlines seven areas an employing broker and designated broker must manage in the supervision of their associated brokers and employees.

 

SUPRA KEYBOX, ASSIGN KEYBOXWe have detected that you recently released the shackle of a Supra keybox. To quickly assign/unassign this keybox to/from a listing click hereImportant: Assigning a listing ID to a keybox helps to ensure your showing data and reports are accurate. Click here to see the benefits of assigning/unassigning a listing ID.

 

SURVEY:  1) a general view, examination, or description of someone or something.  2) examine and record the area and features of (an area of land) so as to construct a map, plan, or description. "he surveyed the coasts of New Zealand"   3) an act of surveying an area of land.  LANGUAGE:  Line #252:  As it is a subdivision lot, a full survey is unnecessary.  However, seller will pay for the property to be staked and flagged by a licensed surveyor.

 

SURVEY: WHICH ONE TO CHECK ON VLPC?  Q: Section 6J of the land contract. If the buyer is buying the land to build a residential home do I check option 2? I think so just making sure. Land has water and electric on the property. No sewer. Buyer is aware it will require septic, what I need to know is which survey is necessary in this case. Do you know?  A: Top box for a simple survey, middle box for a more complex survey  A: It depends...line #250 would be a very simple survey, mark or confirm the boundaries, confirm existing markers, probably a smaller parcel, simple shape, maybe located in an existing subdivision, etc.  2) Line #252 would be more complex and show much greater detail as noted on the contract.  Larger property, wide to narrow shape, various topography, much more detailed analysis, etc.  So, it really depends on the size and complexity of the parcel.

SURVIVING SPOUSE:  SEE DEATH, COMMUNITY PROPERTY

 

Sven·ga·li  NOUN:  A person who exercises a controlling or mesmeric influence on another , especially for a sinister purpose. 

Syndication:  The option to send listings to third parties has been renamed broker distribution in Flexmls.   SYNDICATION OPTIONS

SWIMMING POOL BARRIER REGULATIONS:  Q: What if buyer refuses to initial line #251 due to property not having a swimming pool?  A: “Regarding line #251 of the purchase contract:  When the buyer initials line #251, they are acknowledging that the state of Arizona has swimming pool barrier regulations.  The Buyer is not initialing that the property has a swimming pool.”

SYNDICATION:  RENAMED BROKER DISTRIBUTION (See Broker Distribution)

TANDEM GARAGE:  Q: The home has a garage with room for 4 cars but only 3 doors.  Can we list it as a 4 car garage in that case?  A: Yes.  If the garage is a tandem garage, then you can list as a 4 door garage even though it only has three doors.  NOTE: tandem garage is a two-car garage (double garage), but built so that one car parks in front of the other.  

TAXES, SEE ENTITY, TAXES, S CORP VS C CORP   Use Schedule C (Form 1040 or 1040-SR) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. Your primary purpose for engaging in the activity is for income or profit. You are involved in the activity with continuity and regularity. What is on a Schedule C?  At its core, the Schedule C is nothing more than a profits and losses worksheet for sole proprietors and single-member LLCs (as long as the LLC hasn’t elected to be taxed as a corporation). Q:  Why am I 1099’d for the amounts I credit to my client:  A: The IRS is ok with agents crediting commission to their clients, however the money is technically "earned" by you prior to crediting to your client, so you will be 1099'd for that. Our advice is to get with your CPA or Tax Advisor and work up some type of line item business or marketing expense and take a dollar for dollar write off on your schedule C when you file your taxes.

TAXES, REAL PROPERTY TAXES: LINKS, 1) Maricopa County Assessors Office, https://mcassessor.maricopa.gov/faq/faq-property-tax.php  2) Arizona State Board of Equalization, https://sboe.az.gov/faq      3), Board of Supervisors (Maricopa County),   https://www.maricopa.gov/224/Board-of-Supervisors

TAX DEFERRED EXCHANGE:  SEE 1031 PAGE

TAXPAYER RELIEF ACT:  OVERVIEW OF THE TAXPAYER RELIEF ACT OF 1997: Primary Residence, Internal Revenue Code 121 (Replaced IRC code 1034): 1) Couples filing a joint tax return can exclude up to $500,000 of gain on the sale of their principal residence, and single filers can exclude up to $250,000, 2) New rates and rules effective for dispositions on or after May 7, 1997, 3) Home must have been the primary residence of both spouses for 2 of the last 5 years, 4) $500,000 exclusion available once every 2 years, 5) Vacation homes and second homes do not qualify

 

TAX RETURNS…..CAN SELLER DEMAND TO SEE BUYERS TAX RETURNS…?.....SE CASE STUDIES…….

 

TEAM NAMES, USING “HOMESMART” IN A TEAM NAME:  One of our agents wants a team name called The HomeSmart Masters Group.  That would be ok, right?  Kyle  Good by me.  Sent from my iPad  TrudyLooks like she's ok with it...Kyle       4/12/19 Still ok per Britton

TEAM NAME APPROVAL:  The name  HomeSmart Yuma Team is available and approved.  Please reach out to our agent services dept as soon as possible to let them know that you would like to reserve this team name.  Do this right away before someone else tries to reserve the same team name.  Your team agreements should be forwarded to them as well.  I have also copied agent services on this email.

TEAMS:  NAME must end in Team or Group.  Name must be approved by broker.  Once approved name must be reserved through agent services.  Submit a copy of your team agreement to agent services.  Copy of team members to agent services (plus keep current).  Must be more than one agent (you can’t be a team of one).  Agents only, team cannot have lenders, title, home warranty, etc.  Team members are still employed by the brokerage and must follow brokers policies & procedures.  We will assist with disputes (mediate) but teams are responsible for resolving any internal team issues.

TEAM VS BRANDING:  Agents are allowed to develop their own logo as a means to “brand” themselves.  This can be in addition to their team, or for an individual agent.  Email to broker@hsmove.com for broker approval. 

TEAM NAMES AND BRANDING: You cannot use the term "realty" as it is misleading to the public as to who the brokerage is.  Real Estate is approved.  Additionally, due to copyright please correct Realtor to REALTOR®.  Lastly, you should have the fair housing and realtor logos on your business card as well.  Please have revisions made and resubmit for approval.  

TEAMS:  Hello Shea.  As you know, my husband has joined HomeSmart.  He is going to be a member of my team.  I went into my account and was creating cards for him.  I would like him to have Elite Group cards, since I am in the Elite Group.  I do not see in the Marketing Design Center where I can do that.  Do I need approval for him to be on my team?  Approval from Dept of Real Estate?

The ADRE only requires the broker to have a list of teams and their members. So you will need to let agent services know.  Agent Services can also help with the cards. I will copy them on this email.  Thank you, Janette.

TEAMS:  2 MEMBERS MINIMUM: You can't advertise as a team/group unless you have other team/group members that are licensees with HomeSmart. Trudy. 

TEAMS:  ISSUES, HANDLING ISSUES:  MEMBERS RESOLVE BETWEEN THEMSELVES.  CASE STUDY: X, I am one of the consulting brokers at corporate.  Blank has reached out to me regarding these transactions and what is required going forward.  Whether or not you stay on a team or change teams is your decision, however you must complete the transaction(s) that are currently in process with the Rose Team as this was a commitment made by both parties as part of the team agreement.  Please reach out to Blank to bring this to an acceptable resolution.  Also, you noted in your email that you will be joining the HomeSmart Mentor program, which is fine.  Which broker have you talked to regarding this?

TEAMS: SUBSTANTIVE POLICY STATEMENT: See Substantive Policy Statement No. 2020.01 on ADRE page (see youtube below)

 

TEAMS, JUNE 1, 2020: Scott Drucker and Nikki Salgat discuss the relevant statutes and rules that govern real estate "Teams" as set forth in ADRE's most recent Substantive Policy Statement.                             Youtube:  https://youtu.be/-KcaFMKV1mQ

 

TEARDOWN OR MOBILE HOME:  Buyer and Seller are aware that property conveys with a inoperable mobile home with no value.  At COE, Buyer will dispose of this property at their discretion.

TECHNOLOGY:  STUFF:  Adobe Acrobat’s File Open or Save Dialogs are Slow or Hanging – Here is the Fix!  SAVE AS IS SLOW…….

TECHNOLOGY: GOOGLE CHROME; RE-OPEN THE LAST CLOSED TAB: You can also press Ctrl+Shift+T on your keyboard to reopen the last closed tab. Repeatedly selecting “Reopen closed tab”, or pressing Ctrl+Shift+T will open previously closed tabs in the order they were closed. http://khkonsulting.com/2016/10/adobe-acrobats-file-open-or-save-dialogs-are-slow-or-hanging-here-is-the-fix/

TECHNOLOGY:  AAR:  Tech Helpline:  Tech Helpline is your included member benefit, compliments of Arizona Association of Realtors. There are no fees to pay when you call, email or chat online because this service is included in your membership dues. There are also no limits to the number of times you can use Tech Helpline.      Email:  Support@TechHelpline.com     Call us:  (866) 232-1791    Chat Online:  http://chat.techhelpline.com

 

TEMPORARILY OFF MARKET (TOM):  A subcategory of an ACTIVE listing in ARMLS:  Q: When a property is TOM however the listing agent says to go ahead and make an offer, how do I secure my co-broke?  A: Our opinion is that a commission would still be due to the selling agent even if the contract is written while the property is TOM.  That being said, and to avoid any questions or confusion regarding that, it wouldn't hurt to have some written acknowledgement from the listing agent that the commission will still be paid if the property is in TOM status.  An email would suffice.  You could even ask them to sign the Broker to Broker compensation agreement which is located on your RSA Portal in the downloads section.

TERMINATION OF CONDOMINIUM:  https://www.azleg.gov/ars/33/01228.htm     33-1228.    Termination of condominium         

TERMITE REPORTS:  Arizona Dept of Agriculture (Pest Management):  http://tarf.azda.gov/index.php

TERMITE, PEST OR RODENT INFESTITATION:  Seller to have the entire home treated for termites along with a one year warranty.  OR "Evidence of pest/rodent infestation in the attic.  Seller to have remediated by a licensed pest control company according to acceptable industry standards."

TEXT, IS IT BINDING?  RE, John Doering:  His seller refuses to pay commission.  Has text from seller raising listing co-broke from 2.5 to 3.0%, no sold/change form, no listing addendum, now seller says he withdrew his .5% offer increase, John has nothing in “writing”, text only, says he did change the co-broke in the MLS.  1) Print text and send to both seller and title co.  2) Include a copy of the MLS Plano showing change and history detail to back it up.  You can’t delay closing over commission issue.  Bring suit after closing against seller if necessary.”

TEXT:  Q: Can 30-day notice be given via text message?  A: See the attached legal hotline article. I think a text would be recognized as valid in delivering a 30 day notice.  Like an email, it has both a date stamp and time stamp and unless there is some type of fraud being committed, we know where it originated.

THREATENING LETTER:  SELLER WON’T SELL!  Q: I just received this voicemail from the seller I was telling you about who wants to cancel the executed deal. Can you help me write a response to his agent? Obviously I will not respond to him. A: We just received a voicemail from your client, the current owner of the property on Main St. Out of professional courtesy we will not be calling him back as he is represented by another brokerage.  He informed us he sent the notary away and would not sign or close unless we “Readjust things”.  Obviously we have a Bilaterally agreed upon signed contract, and he can not unilaterally cancel the deal or change the terms.  We will proceed with the agreed upon contract and are ready to close the first week of September as agreed upon in the purchase contract and addendum.  Our clients have given their notice at their current residence and the vacancy has already been filled.  If the sellers have not signed we will be sending a cure notice, on the COE date for failing to perform, and after three days buyer will be filing a Lis Pendens on the property. That will tie up the title until the ruling in our favor, which will happen, occurs. Our client’s attorney is already drafting the necessary documents.  We will also be suing the seller for our commission for bringing a ready, willing and able buyer, with an agreed upon contract to his property. 

TIDEWATER INITIATIVE:  Evoking the Tidewater Initiative with seller to a VA buyer (Lender needs comps!)

http://arizonasmortgagetalk.com/low-va-appraised-value-tidewater-initiative/     http://www.benefits.va.gov/phoenix/pdf/rlc/fee_appraiser_handbook_sept_2007_revision.pdf (page 25)

TIME FOR ACCEPTANCE:  Time for acceptance of the original purchase contract is hereby extended to the time of receipt of this counter offer.

TIMELINES:  CONFLICTING TIMELINES, WHICH ADDENDUM CONTROLS? Q; Short sale addendum vs Buyer Contingency Addendum, who wins?  A: Something like "In the event of any conflicting inspection period timelines in the Buyer Contingency Addendum and the Short Sale Addendum to the Purchase Contract, the parties agree that the inspection period timelines outlined in the short sale addendum to the purchase contract shall control."