Sale of Personal Property Or Loans
Regarding sales / loans with your property, All normal broker fees apply to all transactions. There are certain requirements and restrictions with these types of sales. A detailed list is in our office policy (section 4.29 and 11.5), listed below are some of the main requirements:
Real Estate Transactions:
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You must disclose that you are the seller/buyer in writing asap
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You must follow the E&O insurance guidelines below
Sale Of Personal Property:
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You must use CAR contracts
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You must have a home warranty, no matter who pays for the warranty
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The buyer must have a home inspection done by a ASHI or CREIA certified inspector
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You must have an earthquake / environmental hazard report done (JCP, Property ID)
Loans:
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You can not be the loan officer on the file
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You can not be involved in the loan, like you would if you were the loan officer. You must act as a normal borrower in the loan.
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You can not be involved with ordering an appraisal, again you must act as a normal borrower in the loan.