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November 10, 2011
GLVAR President Paul Bell
October 2011 Market Issues
November 10, 2011
GLVAR President Paul Bell
October 2011 Single Family Home Sales
Legal Articles
Making Your Case read story
The Professional Standards Committee is charged with hearing two types of cases under the REALTOR® Code of Ethics: ethics and arbitration. Ethics hearings relate to Articles 1 to 16 of the Code of Ethics, while Article 17 relates to the arbitration of commission disputes. Imagine that you'v ...
2/1/2012
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
The Professional Standards Committee is charged with hearing two types of cases under the REALTOR® Code of Ethics: ethics and arbitration. Ethics hearings relate to Articles 1 to 16 of the Code of Ethics, while Article 17 relates to the arbitration of commission disputes. Imagine that you'v ...
2/1/2012
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
New RPA Available Now read story
GLVAR has published a new Residential Purchase Agreement (RPA) effective February 1, 2012. The previous version (dated 2009) is no longer available. Several changes and refinements have been made to the RPA: Clarification that the buyer must have "Good Funds" at closing (Secti ...
2/1/2012
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
GLVAR has published a new Residential Purchase Agreement (RPA) effective February 1, 2012. The previous version (dated 2009) is no longer available. Several changes and refinements have been made to the RPA: Clarification that the buyer must have "Good Funds" at closing (Secti ...
2/1/2012
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
FIRPTA Compliance: Who's in the Hot Seat? read story
Whether you know it or not, every real property transaction that you participate in is subject to the Foreign Investment in Real Property Tax Act (FIRPTA) withholding requirements. "What?" you may ask. "The seller isn't a foreign person!" FIRPTA authorizes the United Stat ...
1/1/2012
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Whether you know it or not, every real property transaction that you participate in is subject to the Foreign Investment in Real Property Tax Act (FIRPTA) withholding requirements. "What?" you may ask. "The seller isn't a foreign person!" FIRPTA authorizes the United Stat ...
1/1/2012
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
SNR Legal Index Now Available read story
Do you ever remember reading something, but you can’t quite remember where? And it drives you crazy until you find it? Well, if you read the Legal Corner articles each month in the Southern Nevada REALTOR® magazine, you may be interested to know that a compilation and index of the 2010 and 2 ...
12/30/2011
Category: Legal Corner
Published in: REALTOR® Bytes
Do you ever remember reading something, but you can’t quite remember where? And it drives you crazy until you find it? Well, if you read the Legal Corner articles each month in the Southern Nevada REALTOR® magazine, you may be interested to know that a compilation and index of the 2010 and 2 ...
12/30/2011
Category: Legal Corner
Published in: REALTOR® Bytes
New Residential Disclosure Guide Released read story
The Real Estate Division last week released an updated version of the required Residential Disclosure Guide. Among the changes, approved by the Real Estate Commission at its November 2011 meeting, are: Reduction to 28 pages by consolidating the information regarding the Common-interest Commun ...
12/23/2011
Category: Legal Corner
Published in: REALTOR® Bytes
The Real Estate Division last week released an updated version of the required Residential Disclosure Guide. Among the changes, approved by the Real Estate Commission at its November 2011 meeting, are: Reduction to 28 pages by consolidating the information regarding the Common-interest Commun ...
12/23/2011
Category: Legal Corner
Published in: REALTOR® Bytes
SRPD Resources Available read story
Questions continue to arise regarding the newly revised SRPD statutes and how sellers are (or are not) complying with the law. The main sources of concern appear to be sellers who refuse to complete an SRPD form, and buyers who insist on closing with less than 10 days in escrow (the required ti ...
12/9/2011
Category: Legal Corner
Published in: REALTOR® Bytes
Questions continue to arise regarding the newly revised SRPD statutes and how sellers are (or are not) complying with the law. The main sources of concern appear to be sellers who refuse to complete an SRPD form, and buyers who insist on closing with less than 10 days in escrow (the required ti ...
12/9/2011
Category: Legal Corner
Published in: REALTOR® Bytes
2011 Forms Recap read story
Several GLVAR forms and Real Estate Division forms were added, amended or deleted in 2011 due to statutory changes and/or periodic updates. This article is a brief recap of those changes. GLVAR FORMS Notice of Broker Compensation and Invoice - This new form is meant to provide a broker's clien ...
12/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Several GLVAR forms and Real Estate Division forms were added, amended or deleted in 2011 due to statutory changes and/or periodic updates. This article is a brief recap of those changes. GLVAR FORMS Notice of Broker Compensation and Invoice - This new form is meant to provide a broker's clien ...
12/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Asset Manager Permit Update read story
The Real Estate Division has published several documents and forms related to the NEW Asset Manager Permit created by SB 314. The Division began accepting applications for the new permit on October 3, 2011. The documents include two informational bulletins, one dealing with Asset Management Compa ...
11/1/2011
Category: Official Notices
Published in: Southern Nevada Realtor Magazine
The Real Estate Division has published several documents and forms related to the NEW Asset Manager Permit created by SB 314. The Division began accepting applications for the new permit on October 3, 2011. The documents include two informational bulletins, one dealing with Asset Management Compa ...
11/1/2011
Category: Official Notices
Published in: Southern Nevada Realtor Magazine
Disclosing Interest in Property read story
It's a very common scenario in today's real estate market. A real estate licensee teams up with an investor and they form an LLC. The LLC purchases property at the Trustee sale auction, maybe fixes it up a bit, and the licensee places the home on the market to sell at a profit. Problems arise wh ...
11/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
It's a very common scenario in today's real estate market. A real estate licensee teams up with an investor and they form an LLC. The LLC purchases property at the Trustee sale auction, maybe fixes it up a bit, and the licensee places the home on the market to sell at a profit. Problems arise wh ...
11/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
New SRPD in Effect read story
On October 1, 2011, the Real Estate Division released new version of the Seller’s Real Property Disclosure form. Download a copy here. All licensees should begin using the new form immediately. Among the changes: The revised form specifies that the SRPD may not be waived per a recent law ...
10/7/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
On October 1, 2011, the Real Estate Division released new version of the Seller’s Real Property Disclosure form. Download a copy here. All licensees should begin using the new form immediately. Among the changes: The revised form specifies that the SRPD may not be waived per a recent law ...
10/7/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
SRPD Waiver Eliminated read story
On October 1, 2011, the world of property disclosures in Nevada will change dramatically as a new law kicks in that eliminates the Seller's Real Property Disclosure (SRPD) waiver. SB 314 amended NRS 113.130(3) as follows: 3. A purchaser of residential property may notwaive any of the requirement ...
10/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
On October 1, 2011, the world of property disclosures in Nevada will change dramatically as a new law kicks in that eliminates the Seller's Real Property Disclosure (SRPD) waiver. SB 314 amended NRS 113.130(3) as follows: 3. A purchaser of residential property may notwaive any of the requirement ...
10/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Important Reminder: No SRPD Waivers after Oct. 1 read story
All brokers and agents should keep in mind that a major revision to Nevada's property disclosure law goes into effect this weekend, on October 1. What's happening? Essentially, for any residential sale that goes into contract on or after Saturday, October 1, 2011, the buyer cannot waive an ...
9/30/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
All brokers and agents should keep in mind that a major revision to Nevada's property disclosure law goes into effect this weekend, on October 1. What's happening? Essentially, for any residential sale that goes into contract on or after Saturday, October 1, 2011, the buyer cannot waive an ...
9/30/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Digital Signatures Come to GLVAR read story
Effective September 1, 2011, all GLVAR members will have access to cutting-edge digital signature technology for all of your transactions through the zipForm® online forms! Accessing the new "digital Ink" product couldn't be easier - there's a button under the File tab in zipForm ...
9/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Effective September 1, 2011, all GLVAR members will have access to cutting-edge digital signature technology for all of your transactions through the zipForm® online forms! Accessing the new "digital Ink" product couldn't be easier - there's a button under the File tab in zipForm ...
9/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Digital Signatures Now Available! read story
If you haven’t heard, all GLVAR members have access to unlimited digital signatures for all of your transactions through zipForm®! This new member benefit took effect on September 1, 2011. There are several video training options available to you, as well as user guides and tu ...
9/1/2011
Category: MLS
Published in: REALTOR® Bytes
If you haven’t heard, all GLVAR members have access to unlimited digital signatures for all of your transactions through zipForm®! This new member benefit took effect on September 1, 2011. There are several video training options available to you, as well as user guides and tu ...
9/1/2011
Category: MLS
Published in: REALTOR® Bytes
Listing a Managed Property read story
Legal Byte Listing a Managed Property By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel When taking a listing of a property, especially a property that is known to be a rental property of the owner, it's worth a ...
8/5/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Legal Byte Listing a Managed Property By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel When taking a listing of a property, especially a property that is known to be a rental property of the owner, it's worth a ...
8/5/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
More Legislative Updates read story
For this month's article, here are the most pressing real estate related laws that go into effect on October 1, 2011. CIC Issues Statement good for 15 days. SB 403 made several changes to the resale package statute, NRS 116. 4109, including who is on the hook for unpaid fees. First, th ...
8/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
For this month's article, here are the most pressing real estate related laws that go into effect on October 1, 2011. CIC Issues Statement good for 15 days. SB 403 made several changes to the resale package statute, NRS 116. 4109, including who is on the hook for unpaid fees. First, th ...
8/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
MARS Update: No Disclosures for Real Estate Professionals read story
Legal Byte MARS Update: No Disclosures for Real Estate Professionals By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel Last week the Federal Trade Commission announced that the MARS disclosures are no longer necessary for real est ...
7/22/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Legal Byte MARS Update: No Disclosures for Real Estate Professionals By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel Last week the Federal Trade Commission announced that the MARS disclosures are no longer necessary for real est ...
7/22/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
2011 Legislative Update - Part 1 read story
It was a busy legislative session for the Nevada Legislature, which wrapped up in the early morning hours on June 7. Since there are multiple effective dates for the new laws, this month's article will feature some of the new laws that take effect as of July 1 or earlier. Put the Phone Down! ...
7/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
It was a busy legislative session for the Nevada Legislature, which wrapped up in the early morning hours on June 7. Since there are multiple effective dates for the new laws, this month's article will feature some of the new laws that take effect as of July 1 or earlier. Put the Phone Down! ...
7/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Avoiding Post-Foreclosure Headaches read story
When the figurative gavel comes down at a Trustee's sale at the Nevada Legal News building (somehow, that's just not as colorful as saying "the courthouse steps"), real property is conveyed from the lender holding the mortgage note to the buyer. Sounds pretty simple, right? But wha ...
6/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
When the figurative gavel comes down at a Trustee's sale at the Nevada Legal News building (somehow, that's just not as colorful as saying "the courthouse steps"), real property is conveyed from the lender holding the mortgage note to the buyer. Sounds pretty simple, right? But wha ...
6/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Short Sales Issues and Updates read story
Should a short sale seller be requiring an SRPD waiver? This issue seems to have resurged in recent weeks. The question is, why wouldn't a seller of a home in short sale complete the Seller's Real Property Disclosure (SRPD) as required by law? While it's true that NRS 113 currently allows a buy ...
6/1/2011
Category: What's Happening?
Published in: Southern Nevada Realtor Magazine
Should a short sale seller be requiring an SRPD waiver? This issue seems to have resurged in recent weeks. The question is, why wouldn't a seller of a home in short sale complete the Seller's Real Property Disclosure (SRPD) as required by law? While it's true that NRS 113 currently allows a buy ...
6/1/2011
Category: What's Happening?
Published in: Southern Nevada Realtor Magazine
MARS Update read story
Just as the U.S. space program is a continuing saga, so too is the Federal Trade Commission's MARS rule. Although taking effect on January 31, 2011, the FTC acknowledges that the MARS rule - which stands for Mortgage Assistance Relief Services - needs to be tweaked for the real estate profession ...
5/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Just as the U.S. space program is a continuing saga, so too is the Federal Trade Commission's MARS rule. Although taking effect on January 31, 2011, the FTC acknowledges that the MARS rule - which stands for Mortgage Assistance Relief Services - needs to be tweaked for the real estate profession ...
5/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
MARS Disclosures Now Available read story
Legal Byte MARS Disclosures Now Available By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel GLVAR has published a form to assist licensees in making two disclosures required by the Federal Trade Commission's MARS (Mortgage Assist ...
5/1/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Legal Byte MARS Disclosures Now Available By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel GLVAR has published a form to assist licensees in making two disclosures required by the Federal Trade Commission's MARS (Mortgage Assist ...
5/1/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
5 More Things You Need to Know Now read story
In today's market, it's hard to choose just five things that agents and brokers need to know now. Each day the association's departments receive hundreds of calls about emerging issues that the members are seeing in their daily business. Some issues are being handled legislatively by the NVAR ...
4/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
In today's market, it's hard to choose just five things that agents and brokers need to know now. Each day the association's departments receive hundreds of calls about emerging issues that the members are seeing in their daily business. Some issues are being handled legislatively by the NVAR ...
4/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
HAFA Updates Should Help More Sellers read story
In an effort to assist more homeowners, the U.S. Treasury Department announced several changes to the Home Affordable Foreclosure Alternative (HAFA) short sale program. The revisions took effect February 1, 2011. Originally launched last April, the HAFA program is designed to provide relief to ...
3/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
In an effort to assist more homeowners, the U.S. Treasury Department announced several changes to the Home Affordable Foreclosure Alternative (HAFA) short sale program. The revisions took effect February 1, 2011. Originally launched last April, the HAFA program is designed to provide relief to ...
3/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Everything You Need to Know about Energy Evaluation But Are Afraid to Ask read story
In case you haven't heard, Nevada law now requires an "energy consumption evaluation form" in all residential real estate transactions, unless the evaluation is waived or another exemption applies. Every licensee should be aware that the new energy consumption law must be addressed in some w ...
2/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
In case you haven't heard, Nevada law now requires an "energy consumption evaluation form" in all residential real estate transactions, unless the evaluation is waived or another exemption applies. Every licensee should be aware that the new energy consumption law must be addressed in some w ...
2/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Foreclosure Classes for Homeowners read story
Nevada Legal Services will hold free monthly Foreclosure Information classes, available to any homeowner in Nevada. The classes will focus on the foreclosure process including mandatory mediation and the government sponsored loss mitigation options. All classes are held at the Nevada Legal Services ...
2/1/2011
Category: REALTOR-Bytes
Nevada Legal Services will hold free monthly Foreclosure Information classes, available to any homeowner in Nevada. The classes will focus on the foreclosure process including mandatory mediation and the government sponsored loss mitigation options. All classes are held at the Nevada Legal Services ...
2/1/2011
Category: REALTOR-Bytes
It's 2011. Do You Know Where Your Client Data Is? read story
Identity theft is one of the nation's fastest growing crimes. According to the Federal Trade Commission (FTC), identity theft affects more than nine million Americans each year with losses in the billions of dollars. Another 100 million people have their personal information placed at risk when ...
1/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Identity theft is one of the nation's fastest growing crimes. According to the Federal Trade Commission (FTC), identity theft affects more than nine million Americans each year with losses in the billions of dollars. Another 100 million people have their personal information placed at risk when ...
1/1/2011
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Energy Consumption Evaluation Form Now Available read story
Beginning January 1, 2011, the seller of residential property must provide the purchaser with an evaluation of the energy consumption of the home on a form provided by the Nevada Energy Commissioner. The form must be provided prior to closing the sale, and certain exemptions apply. For a ...
12/27/2010
Category: Legal Corner
Beginning January 1, 2011, the seller of residential property must provide the purchaser with an evaluation of the energy consumption of the home on a form provided by the Nevada Energy Commissioner. The form must be provided prior to closing the sale, and certain exemptions apply. For a ...
12/27/2010
Category: Legal Corner
How NOT to Conduct a Short Sale read story
While I was thinking of a topic to write about this month–hoping for something other than short sales– I came across the most interesting case involving, yes, a short sale transaction. The case decision reads like a compelling novel of intrigue and bad dealings - so of course I wanted to share i ...
12/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
While I was thinking of a topic to write about this month–hoping for something other than short sales– I came across the most interesting case involving, yes, a short sale transaction. The case decision reads like a compelling novel of intrigue and bad dealings - so of course I wanted to share i ...
12/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Short Sale Issues and Updates, 12/10 read story
Is it an MLS violation to take my short sale out of the MLS to allow the buyer to list the property while the lender is looking at the short sale transaction? Yes, under a new rule recently approved by the Board of Directors, the MLS will only accept listings where the seller has merchantable t ...
12/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Is it an MLS violation to take my short sale out of the MLS to allow the buyer to list the property while the lender is looking at the short sale transaction? Yes, under a new rule recently approved by the Board of Directors, the MLS will only accept listings where the seller has merchantable t ...
12/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Social Media and REALTOR® Marks Video read story
function MM_CheckFlashVersion(reqVerStr,msg){ with(navigator){ var isIE = (appVersion.indexOf("MSIE") != -1 && userAgent.indexOf("Opera") == -1); var isWin = (appVersion.toLowerCase().indexOf("win") != -1); if (!isIE || !isWin){ var flashVer = -1; if (plugins && ...
12/1/2010
Category: Legal Corner
Published in: REALTOR® Bytes
function MM_CheckFlashVersion(reqVerStr,msg){ with(navigator){ var isIE = (appVersion.indexOf("MSIE") != -1 && userAgent.indexOf("Opera") == -1); var isWin = (appVersion.toLowerCase().indexOf("win") != -1); if (!isIE || !isWin){ var flashVer = -1; if (plugins && ...
12/1/2010
Category: Legal Corner
Published in: REALTOR® Bytes
The Top 5 Risks You Take When You Take on a Short Sale…and How to Prevent Them! read story
If ever an ounce of prevention was worth a pound cure, it's certainly true in a short sale. #1 Failure to disclose the downsides. We can say it a millions times, and then a million more and maybe it will be enough. Short sales are squirrely. Sellers will be impacted - it is difficult to ...
11/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
If ever an ounce of prevention was worth a pound cure, it's certainly true in a short sale. #1 Failure to disclose the downsides. We can say it a millions times, and then a million more and maybe it will be enough. Short sales are squirrely. Sellers will be impacted - it is difficult to ...
11/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Tips to Avoid Loan Modification Scams read story
Loan modification can work in the right circumstances, but unfortunately, numerous scams have taken hold to trap unwary and desperate homeowners. Examples of scams include lease back or purchase arrangement where the homeowner is asked to sign over their deed to a third party "investor" to fake ...
10/1/2010
Category: Greater Living
Loan modification can work in the right circumstances, but unfortunately, numerous scams have taken hold to trap unwary and desperate homeowners. Examples of scams include lease back or purchase arrangement where the homeowner is asked to sign over their deed to a third party "investor" to fake ...
10/1/2010
Category: Greater Living
Short Sale Issues and Updates read story
Co-op Commissions on Short Sales All MLS Participants and Subscribers are reminded that all offers of cooperative compensation offered through the MLS are unconditional. Compensation must be stated as a percentage of the gross sales price, or as a flat fee. The overarching rule is that the bu ...
9/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Co-op Commissions on Short Sales All MLS Participants and Subscribers are reminded that all offers of cooperative compensation offered through the MLS are unconditional. Compensation must be stated as a percentage of the gross sales price, or as a flat fee. The overarching rule is that the bu ...
9/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
High Court Upholds "Extender" Commission Provision read story
The Nevada Supreme Court recently reviewed GLVAR's listing agreement form and upheld the provision that pays the broker a commission even after the listing agreement terminates. In Easton Business Opportunities, Inc. v. Town Executive Suites, 230 P.3d 827,126 Nev. Adv. Rep. 13 (May 6, 2010 ...
8/13/2010
Category: Legal Corner
Published in: REALTOR® Bytes
The Nevada Supreme Court recently reviewed GLVAR's listing agreement form and upheld the provision that pays the broker a commission even after the listing agreement terminates. In Easton Business Opportunities, Inc. v. Town Executive Suites, 230 P.3d 827,126 Nev. Adv. Rep. 13 (May 6, 2010 ...
8/13/2010
Category: Legal Corner
Published in: REALTOR® Bytes
What to Do When the Seller Goes MIA read story
It's an unfortunate, but common, scenario: a seller whose life, financially and otherwise, has become discombobulated and unmanageable and whose home is listed with you, suddenly stops returning your calls and responding to emails. Concerned, you make further attempts to contact the seller, trying ...
8/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
It's an unfortunate, but common, scenario: a seller whose life, financially and otherwise, has become discombobulated and unmanageable and whose home is listed with you, suddenly stops returning your calls and responding to emails. Concerned, you make further attempts to contact the seller, trying ...
8/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Division Reminds Licensees about Short Sale Negotiations read story
It's a message that bears repeating: the person who negotiates with a lender on behalf of a homeowner needs a license, either under NRS 645 or NRS 645F. In the case of a real estate licensee who maintains a license under NRS 645, that licensee must be part of a real estate transaction with the h ...
7/9/2010
Category: Legal Corner
Published in: REALTOR® Bytes
It's a message that bears repeating: the person who negotiates with a lender on behalf of a homeowner needs a license, either under NRS 645 or NRS 645F. In the case of a real estate licensee who maintains a license under NRS 645, that licensee must be part of a real estate transaction with the h ...
7/9/2010
Category: Legal Corner
Published in: REALTOR® Bytes
Important Information about the Range Land Disclosure read story
Effective July 1, 2010, the Real Estate Division revised the Range Land disclosure form and provided advice on its completion. Click here for a copy of the new form; click here for a copy of the Division's instructions.Nevada law requires that a seller of property adjacent to open range provide a ...
7/1/2010
Category: Legal Corner
Published in: REALTOR® Bytes
Effective July 1, 2010, the Real Estate Division revised the Range Land disclosure form and provided advice on its completion. Click here for a copy of the new form; click here for a copy of the Division's instructions.Nevada law requires that a seller of property adjacent to open range provide a ...
7/1/2010
Category: Legal Corner
Published in: REALTOR® Bytes
Fannie and Freddie are HAFA Ready read story
Effective August 1, 2010, eligible homeowners with mortgages backed by government sponsored enterprises (GSEs) Fannie Mae or Freddie Mac may participate in those entities' respective HAFA short sale programs. These new guidelines apply instead of the HAFA guidelines for non-GSE mortgages issued b ...
7/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Effective August 1, 2010, eligible homeowners with mortgages backed by government sponsored enterprises (GSEs) Fannie Mae or Freddie Mac may participate in those entities' respective HAFA short sale programs. These new guidelines apply instead of the HAFA guidelines for non-GSE mortgages issued b ...
7/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Recorder's Office to Audit RPTT at Recording read story
Beginning July 1, 2010, the Clark County Recorder will conduct a "counter audit" of the Real Property Transfer Tax (RPTT) on all deeds submitted for recordation. All filings must include supporting documentation to prove the value stated on the Declaration of Value form. Failure to pro ...
6/30/2010
Category: Legal Corner
Published in: REALTOR® Bytes
Beginning July 1, 2010, the Clark County Recorder will conduct a "counter audit" of the Real Property Transfer Tax (RPTT) on all deeds submitted for recordation. All filings must include supporting documentation to prove the value stated on the Declaration of Value form. Failure to pro ...
6/30/2010
Category: Legal Corner
Published in: REALTOR® Bytes
Top 5 Things You Need to Know Now read story
The landscape of today's real estate market is ever-changing, and remembering basic skills and disclosures goes a long way in meeting those challenges. Here are the top five things that brokers and agents need to know now. 5. Knowingly renting a home in foreclosure is a crime. GLVAR continues t ...
6/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
The landscape of today's real estate market is ever-changing, and remembering basic skills and disclosures goes a long way in meeting those challenges. Here are the top five things that brokers and agents need to know now. 5. Knowingly renting a home in foreclosure is a crime. GLVAR continues t ...
6/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Managing Internet Risks: What's Your Policy? read story
In case you haven't heard, the business of real estate is firmly entwined with the business of the Internet. Just one of many statistics to witness this fact: 87 percent of homebuyers use the Internet as a source of information for their property search, according to a 2008 study conducted by NA ...
5/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
In case you haven't heard, the business of real estate is firmly entwined with the business of the Internet. Just one of many statistics to witness this fact: 87 percent of homebuyers use the Internet as a source of information for their property search, according to a 2008 study conducted by NA ...
5/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
BPOs & Foreclosure Mediations read story
The Nevada Supreme Court recently amended its procedural rules for the AB 149 Foreclosure Mediation Program, effective June 1, 2010. One of the most important changes for real estate agents is the addition of broker price opinions (BPOs). The rules now state: The mediator may, in his or her discr ...
5/1/2010
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
The Nevada Supreme Court recently amended its procedural rules for the AB 149 Foreclosure Mediation Program, effective June 1, 2010. One of the most important changes for real estate agents is the addition of broker price opinions (BPOs). The rules now state: The mediator may, in his or her discr ...
5/1/2010
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Complying with New Lead Paint Renovation Rules read story
A new federal law aimed at reducing lead-based paint risks will take effect April 23, 2010. Property managers face the most potential application of the new rules affecting residential housing built before 1978, but the new rules also affect sellers' disclosures. Old lead-based paint is the mos ...
4/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
A new federal law aimed at reducing lead-based paint risks will take effect April 23, 2010. Property managers face the most potential application of the new rules affecting residential housing built before 1978, but the new rules also affect sellers' disclosures. Old lead-based paint is the mos ...
4/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
NAR Debuts Risk Management Videos read story
NAR Debuts Risk Management Videos By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel NAR’s Risk Management Committee has produced three videos each focused on a different aspect of managing risk in the real estate business. Risk Management Pl ...
3/5/2010
Category: Legal Corner
Published in: REALTOR® Bytes
NAR Debuts Risk Management Videos By Deanne M. Rymarowicz, Esq. GLVAR Legal Counsel NAR’s Risk Management Committee has produced three videos each focused on a different aspect of managing risk in the real estate business. Risk Management Pl ...
3/5/2010
Category: Legal Corner
Published in: REALTOR® Bytes
Foreclosure, Mediation and Tax Credit Resources and Information read story
Whether you're in the market to sell your home or you're looking to buy, the Greater Las Vegas Association of REALTORS® makes it easy to find resources to fit your needs. Simply go to www.lasvegasrealtor.com/MarketInfo to discover the world of information at your fingertips, from avoiding f ...
3/1/2010
Category: Greater Living
Whether you're in the market to sell your home or you're looking to buy, the Greater Las Vegas Association of REALTORS® makes it easy to find resources to fit your needs. Simply go to www.lasvegasrealtor.com/MarketInfo to discover the world of information at your fingertips, from avoiding f ...
3/1/2010
Category: Greater Living
Forms Update read story
GLVAR recently published a new form to assist agents and brokers working with Nye County properties, as well as an updated listing addendum to use with short sales. Nye County Disclosure Properties in Nye County often experience different issues than Clark County. To ensure that buyers un ...
3/1/2010
Category: MLS
Published in: Southern Nevada Realtor Magazine, REALTOR® Bytes
GLVAR recently published a new form to assist agents and brokers working with Nye County properties, as well as an updated listing addendum to use with short sales. Nye County Disclosure Properties in Nye County often experience different issues than Clark County. To ensure that buyers un ...
3/1/2010
Category: MLS
Published in: Southern Nevada Realtor Magazine, REALTOR® Bytes
Short Sales: Information, Clauses and Forms for the New Federal Program read story
Next month on April 5, a new federal program designed to streamline short sales will officially begin. The “Home Affordable Foreclosure Alternatives” (HAFA) program is a companion program to the Home Alternatives Modification Program (HAMP). Loan servicers must offer a short sale or deed-in-lieu ...
3/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine, REALTOR® Bytes
Next month on April 5, a new federal program designed to streamline short sales will officially begin. The “Home Affordable Foreclosure Alternatives” (HAFA) program is a companion program to the Home Alternatives Modification Program (HAMP). Loan servicers must offer a short sale or deed-in-lieu ...
3/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine, REALTOR® Bytes
Flood Plain Changes Affect Sellers and Buyers read story
The federal government is currently reviewing a proposal to change the flood plain designation for a large pie-shaped portion of the Las Vegas Valley, imposing a flood insurance requirement on thousands of homeowners. This will also create potential issues for seller's disclosures.What's changing ...
2/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
The federal government is currently reviewing a proposal to change the flood plain designation for a large pie-shaped portion of the Las Vegas Valley, imposing a flood insurance requirement on thousands of homeowners. This will also create potential issues for seller's disclosures.What's changing ...
2/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Property Management Forms Updated read story
The Property Management Committee recently completed a periodic review of the property management forms. The updated forms were released together on ZipForm in January. Here are the highlights:Residential Property Management Agreement Specifies that the agreement includes the ability for the prop ...
2/1/2010
Category: Committees
Published in: Southern Nevada Realtor Magazine
The Property Management Committee recently completed a periodic review of the property management forms. The updated forms were released together on ZipForm in January. Here are the highlights:Residential Property Management Agreement Specifies that the agreement includes the ability for the prop ...
2/1/2010
Category: Committees
Published in: Southern Nevada Realtor Magazine
REO Revisited: Tips for Agents read story
Despite the reported effectiveness of the Nevada Supreme Court mediation program (see sidebar), REO transactions continue to be an important factor in the Las Vegas real estate market. Listing Agents: Cooperation is Essential On the listing side, the challenges continue to revolve around ...
1/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine, REALTOR® Bytes
Despite the reported effectiveness of the Nevada Supreme Court mediation program (see sidebar), REO transactions continue to be an important factor in the Las Vegas real estate market. Listing Agents: Cooperation is Essential On the listing side, the challenges continue to revolve around ...
1/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine, REALTOR® Bytes
Foreclosure Mediation Update read story
Since the Nevada Foreclosure Mediation Program began on July 1, nearly 3,300 homeowners who received notices of default have requested mediation as they seek to hold on to their homes. Homeowners who receive Notices of Default and Election to Sell have 30 days from the day they received their ...
1/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
Since the Nevada Foreclosure Mediation Program began on July 1, nearly 3,300 homeowners who received notices of default have requested mediation as they seek to hold on to their homes. Homeowners who receive Notices of Default and Election to Sell have 30 days from the day they received their ...
1/1/2010
Category: Legal Corner
Published in: Southern Nevada Realtor Magazine
REO Agents and Investor Buyers Take Note! New Federal Law Gives Tenants an Extra 90 Days read story
Earlier this month Congress passed (and the president has already signed into law) a remarkable bill known as the “Helping Families Save Their Homes Act of 2009.” The bill was styled by lawmakers as “an Act to prevent mortgage foreclosures and enhance mortgage credit ava ...
5/29/2009
Category: Legal Corner
Published in: REALTOR® Bytes
Earlier this month Congress passed (and the president has already signed into law) a remarkable bill known as the “Helping Families Save Their Homes Act of 2009.” The bill was styled by lawmakers as “an Act to prevent mortgage foreclosures and enhance mortgage credit ava ...
5/29/2009
Category: Legal Corner
Published in: REALTOR® Bytes
New Addendum Addresses Short Sale Listings read story
Recently GLVAR added an “Addendum to Listing Agreement—Short Sale” to its library of forms. The new Addendum is specifically designed to augment the Exclusive Right (ER) listing agreement, and covers important information for sellers to know about the short sale process. First, the Addendum de ...
8/21/2008
Category: Legal Corner
Published in: REALTOR® Bytes
Recently GLVAR added an “Addendum to Listing Agreement—Short Sale” to its library of forms. The new Addendum is specifically designed to augment the Exclusive Right (ER) listing agreement, and covers important information for sellers to know about the short sale process. First, the Addendum de ...
8/21/2008
Category: Legal Corner
Published in: REALTOR® Bytes
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