The following Q & A appeared in the March 2, 2011 issue of the NC REALTORS “REALTOR Report”
QUESTION:
I am listing a property for sale that includes a home and a detached garage. The garage can be accessed from the home by a covered breezeway. The garage includes an area that is heated and air conditioned and has finished walls. The owner currently uses that area as a workshop. The owner wants me to include the square footage of the workshop as part of the living area of the home when I list the property in the MLS. Should I do that?
(Source: February 16, 2011 Edition of NCAR Realtor Report)
QUESTION: I just entered into a buyer agency agreement with a close friend who is considering the purchase of a very expensive home. I feel guilty about keeping what will be a very large commission if the transaction closes. Can I offer to rebate half of my commission to my client even though my client is not a licensed agent?
QUESTION
I have several lenders that are asking me about the new contract…..they are wanting clarification on the FHA addendum. They are telling me that the FHA addendum has a clause that if the house does not appraise then the buyer can walk from the deal and get their money back. Does this conflict with the due diligence?…
