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Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [ 1] It is used in a variety of countries for commercial and ...
The California Department of Real Estate ( DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement. Employees headquartered in Sacramento and in district offices in Oakland, Fresno, Los Angeles, and San Diego carry out the DRE's ...
In the early 21st century, brokers and telemarketers actively encouraged subprime mortgages to be offered to minority residents. A majority of the loans were refinance transactions, allowing homeowners to take cash out of their appreciating property or pay off credit card and other debt. [88]
Assuming a 5 percent total commission under that model, here’s roughly what sellers could expect to pay based on the price their home sells for: Home’s sale price. Seller’s agent commission ...
Real-estate industry rocked by $1.8 billion verdict finding ‘conspiracy’ to force sellers to pay illegal commission fees Alena Botros, Sydney Lake October 31, 2023 at 8:16 PM
There’s no current law regulating hidden fees in California. There are similar California laws surrounding “unfair methods of competition” including advertising without the intent to sell. A ...
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601 – 2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating ...
The Unruh Civil Rights Act (colloquially the "Unruh Act") is an expansive 1959 California law that prohibits any business in California from engaging in unlawful discrimination against all persons (consumers) within California's jurisdiction, where the unlawful discrimination is in part based on a person's sex, race, color, religion, ancestry, national origin, age, disability, medical ...