Independent Contractors or Employees: Assistants, Transaction Coordinators and Administrators

Posted on August 21, 2015 by Nikki Salgat

To view the contents of this post, you must be authenticated and have the required access level.

Continue Reading »

New TRID Forms Go Live on September 28, 2015

Posted on August 21, 2015 by

To view the contents of this post, you must be authenticated and have the required access level.

Continue Reading »

Back to BINSR Basics

Posted on August 13, 2015 by Michelle Lind

To view the contents of this post, you must be authenticated and have the required access level.

Continue Reading »

TILA-RESPA Integrated Disclosure rule changes to AAR forms

Posted on June 17, 2015 by

By Martha Appel, 2015 Arizona Association of REALTORS® Risk Management Committee Chair The Consumer Financial Protection Bureau (CFPB) published the TILA-RESPA Integrated Disclosure rule (TRID) which combines and replaces disclosures that consumers receive in connection with applying for and closing on a mortgage loan under the Truth in Lending Act (TILA) and the Real Estate […]

Continue Reading »

Don’t Add Confusion to an Addendum

Posted on May 11, 2015 by

The purpose of an addendum is to include additional terms and conditions to a contract. More specifically, an addendum may accomplish the following: (1) provide further explanation to the terms in the contract; (2) modify existing terms in the contract; or (3) present new considerations to the contract. While an addendum should only affect those […]

Continue Reading »

Hackers Perpetrate Wire Transfer Fraud Scams Across Arizona

Posted on May 1, 2015 by

According to REALTORS® and title companies across the state, Arizona real estate transactions are once again being targeted by hackers perpetrating wire transfer fraud. It is customary for parties in a real estate transaction to receive, and comply with, wire transfer instructions. Unfortunately, it has become increasingly common that those instructions were not generated by […]

Continue Reading »

Close of Escrow Changes, October 3, 2015 – FAQs

Posted on April 23, 2015 by

The Consumer Financial Protection Bureau has published revised final rules and forms that combine disclosures that consumers receive in connection with applying for and closing on a mortgage loan under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). The new forms include a Loan Estimate and a Closing Disclosure. […]

Continue Reading »

A Dwelling has to be Completed on Property for Anti-Deficiency Protection

Posted on February 19, 2015 by Nikki Salgat

Throughout the years, Arizona’s anti-deficiency statute has been litigated to determine under what circumstances the statute is applicable. Of particular interest has been the phrase “utilized for a . . . dwelling.” The statute, A.R.S. §33-814, states: If trust property of two and one-half acres or less which is limited to and utilized for either […]

Continue Reading »

Tenants Are No Longer Protected From Foreclosure

Posted on January 29, 2015 by Nikki Salgat

In 2009, the Protecting Tenants at Foreclosure Act (the “Act”) was enacted to protect tenants facing foreclosure by the landlord’s lender. Specifically, if the tenant was occupying residential property pursuant to a bona fide written lease, the tenant was generally entitled to continue residing in the property for the duration of the lease term. However, […]

Continue Reading »

Don’t Forget Your 1099!

Posted on January 22, 2015 by Lauren Streiff

Have you paid (or earned) a cooperative commission in the last year? Then you’ll need to complete Form 1099-MISC in the coming weeks. Commissions over $600 paid to non employees warrant the need to for the 1099. Not sure who needs to file? Here is more information via NAR: IRS Requires Reporting of Cooperative Commissions […]

Continue Reading »