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Question: Listing agents must disclose material adverse facts pertaining to the physical condition of the property of which they have actual knowledge to the buyer. Do I as the listing agent have a duty to discover these facts? For example, am I required to investigate whether a house has defective piping?
Curious about how the Virginia real estate agency law came around in the mid-90s? Wondering why the changes are happening now? Roanoke Realtor® Steve Hoover – an expert on Agency Law in Virginia – explains some of the history behind the Virginia agency law. Here's a hint: they didn't just fall out of the sky. Realtors® just like you worked long and hard to determine the best solutions to some very real issues on both consumer and Realtor® sides.
If you could do just one thing next year guaranteed to ratchet-up your earning potential and real estate knowledge and create a personal referral network that could pay dividends for the rest of your career…would you do it?
Perhaps the more appropriate question is: Why wouldn’t you?
In its March National Foreclosure Report, CoreLogic found that foreclosures dropped 18.8% from March 2011. Even better, foreclosures in the first quarter were down 14.7% from the first quarter of 2011.
“Compared to a year ago, the number of completed foreclosures has slowed,” said Anand Nallathambi, chief executive officer of CoreLogic. “Since the foreclosure inventory is also coming down, this suggests that loan modifications, short sales, deeds-in-lieu are increasingly being used as an alternative to foreclosures to clear distressed assets in our communities.”
The First Quarter 2012 Virginia Home Sales Report has been released and brings good news for the Commonwealth! Several long-term trends indicate that Virginia’s housing market is continuing to stabilize.
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