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Posts by Goldsmith, James L.
No Good Deed . . .
James L. Goldsmith, Esquire Ridiculous as it may be, some buyers and sellers hook-up without a Realtor®’s involvement. It may be then that you get a call for help. What would you charge to put a simple agreement of sale together covering all the terms the buyer and seller have...
Read moreMaintenance Agreements Can Help Avoid The Pitfalls Of Shared Driveways
By James L. Goldsmith, Esquire A shared driveway may be an impasse or an obstacle to the sale of property. Why? To a lender the reason is the same as that behind its demand that the title be marketable. The mortgaged real estate is collateral for the loan and the...
Read moreNegotiating the Change in Terms Addendum to Agreement of Sale
By James L. Goldsmith, Esquire In a balanced market, and frequently in this seller’s market, properties are sold twice. There is the original offer and acceptance and then there is the renegotiation that follows the inspection reports. When a problem is discovered by an inspection, how should it be handled?...
Read moreMediation – Sound Legal Guidance for Realtors and Their Clients
James L. Goldsmith, Esquire Most of you have had some experience with the mediation program established by the Pennsylvania Association of Realtors® and invoked in the agreement of sale, most likely from working with a client who initiates mediation or upon whom a request for mediation has been served. Realtors®...
Read moreState Investigates Licensees Alleged to Have Violated Governor’s Closure Orders
By James L. Goldsmith, Esquire The process of reopening business in Pennsylvania has been a bumpy road and the twists and turns ahead make predictions difficult. Not so the past: we know what was allowed and what not at any particular time. On March 19, 2020, Gov. Tom Wolf ordered...
Read moreSocial Media & Financial Considerations For Real Estate Professionals Old issues – New times
Old issues – New times By James L. Goldsmith, Esquire Social Media Remember being inundated with solicitations for courses on the essentials of social networking, the rules of media etiquette and the like? Everyone was all over that stuff. Today, when the Commonwealth’s response to the pandemic evokes such vitriol...
Read moreConflicts When Listing Realtor Brings a Buyer When A Close Relative Or Friend Wants To Buy Your Listed Property
When A Close Relative Or Friend Wants To Buy Your Listed Property By James L. Goldsmith, Esquire Real estate agents deal with conflicts of interest on a regular basis. Most of you are attuned to spotting and dealing with the conflicts that may arise out of dual agency when you...
Read moreUsing a Pre-Settlement Walkthrough Report is Recommended
By James L. Goldsmith, Esquire A recent spat between brokers brings focus to this standard form. There is a broker who, like others, requires that all settled transactions undergo a review before the salesperson’s commission is paid. The review assures that management is supervising its affiliates and that glaring errors...
Read moreRealtors Should Guard Against Discriminatory Practices
Study reveals housing discrimination by real estate licensees By: James L. Goldsmith, Esquire An article that appeared in the New York Times in November 2019 cited study results showing housing discrimination by real estate licensees. Investigators posing as white buyers received different treatment than buyers of color and of other...
Read moreAddressing Housing Discrimination With Your Real Estate Clients
By: James L. Goldsmith, Esquire While you are committed to uphold the principals of fair housing, you may find the occasional client or customer who hasn’t accepted your pledge. They may ask you to turn your gaze as they engage in unlawful and furtive discrimination; they may ask you to...
Read moreTimely Ordering Of Real Estate Title Report Is A Requirement
By: James L. Goldsmith, Esquire The last major change to the Standard Agreement of Sale for Real Estate (ASR) added the requirement that the buyer order a title report within so many days of execution of the agreement. The reaction to this change was all over the place, but most...
Read moreResidential Property Claims – Seller Fails To Disclose Material Defects
Advice for the buyer’s agent By: James L. Goldsmith, Esquire I have been saying it for nearly 40 years and it remains true: most lawsuits involving the sale of residential real property claim that the seller failed to disclose material defects. The seller is usually not the only defendant. The...
Read moreReal Estate Transaction Dual Agency and the Escalation Clause
By: James L. Goldsmith, Esquire A broker recently called seeking an answer to what he thought was a dilemma created by an in-house transaction in which he was working with the seller and one of his sales agents with the buyer. Yes, that would be dual agency. Not only would...
Read moreReal Estate Seller Disclosure Law
A Checklist of Issues that a Listing Agent Should Review with Their Seller By: James L. Goldsmith, Esquire The disclosure of a home’s material defects didn’t begin with passage of the Real Estate Seller Disclosure Law (“RESDL”). Pennsylvania common law has long required that sellers disclose latent and material defects....
Read moreDeadline Dates and Times Can Impact Real Estate Deals
Does anybody really care what time it is? By: James L. Goldsmith, Esquire You don’t need to be reminded how time-sensitive the business of real estate can be. Timing is not always everything, but it is critical in the executory period that exists between signing an agreement and settlement. A...
Read moreIndependent Contractor Agreement
By: James L. Goldsmith, Esquire Real estate licensees can be transient. When a sales associate moves on, the broker will likely take one of three paths: 1) congratulate and thank the associate and release her listings and buyer agency contracts; 2) go berserk and escort the associate to the door;...
Read moreReferral Fee Real Estate – Legal or Illegal?
The answer is simple: it depends “It depends” is the right answer to most questions. Here the question is whether it is legal to give thank you gifts to people who refer buyers and sellers to real estate licensees. The reason I can’t give a straight answer to this simple...
Read moreCan a Real Estate Agent Sue for Commission?
My mentor and former PAR legal counsel, the late Tom Caldwell, used to caution brokers intent on suing clients for fees by asking that. The clear message is that when you sue for a fee, the client is going to bite by claiming that no fee was owed because of...
Read moreUnderstanding Pennsylvania’s Broker Lien Law
By: James L. Goldsmith, Esquire A majority of states, including Pennsylvania, have enacted broker lien laws that enable real estate brokers to file liens on commercial property in the full amount of their Pennsylvania real estate commission. There are prerequisites to be satisfied before a broker’s lien can be asserted:...
Read moreTaking Real Estate Cases To Magisterial District Courts
By: James L. Goldsmith, Esquire The magisterial district courts are the small claims courts of Pennsylvania. The magisterial district justices (MDJs) are the small claims judges. It is within their jurisdiction to conduct preliminary hearings in criminal matters where the only issue is whether there is sufficient evidence to send...
Read moreHow Long to Return Deposits?
By: James L. Goldsmith, Esq. As a broker holding a deposit, how long should it take you to return it pursuant to the terms of a release signed by both parties or when sufficient time has passed (the 180 days or whatever it has been reduced to) and not litigation/mediation...
Read moreUntimely Repairs
PART ONE By: James L. Goldsmith, Esq. It happens. Sellers agree to make repairs suggested by a home inspection, but fail to complete the job timely. When this happens a buyer is faced, unfairly, with proceeding under a contingent plan (e.g., having repairs made post-settlement or taking cash in lieu...
Read moreAttend Inspections
PART TWO By: James L. Goldsmith, Esq. Who, if anyone, should attend home inspections has been a topic of debate for as long as home inspections have been a standard element in a residential transaction. Year ago when the topic came up at an NAR meeting of attorneys who represented...
Read moreWhat if?
By: James L. Goldsmith, Esq. These two words are the start of many questions by those who draft contracts, including agreements for the sale of real estate. Consider Paragraph 18 of the PAR standard agreement entitled Maintenance and Risk of Loss. This paragraph was borne of the following “what ifs?”...
Read moreGetting Creative
By James L. Goldsmith, Esquire The most dangerous clause in the_Standard Agreement for the Sale of Real Estate (ASR)is found in our current Paragraph 32(B), Additional Terms. Here’s where agents can let loose with the most creative use of the pen imaginable! A problem is, that when these works of...
Read moreWhat’s the Biggest Mistake a Licensed Professional Can Make, When Faced with a State Board Investigation Notice?
By: James Goldsmith. Esq. Responding on your own to a licensing investigation or meeting with the board investigator, without legal representation, is one of the biggest mistakes a licensed professional can make when faced with an investigation notice from the state board. If you receive an investigation notice from the...
Read moreSelling Real Estate in an Era of Modern Surveilling
By: James L. Goldsmith, Esq. You either have firsthand experience or have heard stories of how modern surveillance techniques are entwined in the sale of real estate. Baby cameras, pet monitoring applications, security systems, and other surveillance equipment with varying degrees of technological and recording capabilities are now common features...
Read moreA Question of Coverage
by James L. Goldsmith, Esq. Mistakes happen. Consider the case of listing agent Robert. Robert happened to be on vacation when he received an offer at list price. He reviewed the standard form on his cell phone and reported to the sellers that it looked great. The agreement was executed...
Read moreThe Superior Court Recently Ruled on Two Issues Under the Real Estate Seller Disclosure Law that Realtors® Should be Aware of
The first question decided by the court was whether the seller was liable for failing to deliver a Property Disclosure Statement, where the agreement included an “as is” clause. The second question was what constitutes “actual damages” as the term is used in the Real Estate Seller Disclosure Law (RESDL)...
Read moreVituperativeness: Is There Ever a Reason?
By: James L. Goldsmith, Esq. My wife and I were recently sharing a farewell dinner with a couple moving from the mid-state. Their home was sold and packed. They were letting down their hair after a week that was particularly demanding, both physically and mentally. The wife of this couple,...
Read moreExpletive Deleted
By James L. Goldsmith, Esq. In news and other articles, another’s profanity is frequently replaced with “expletive deleted.” Some use the term in self-censorship. More often, we just let the expletives fly. At that moment it might feel quite good to do so; upon reflection, not so good. Realtors® hold...
Read moreA Listing Agent’s Right to See your Buyer Agency Contract
By James L. Goldsmith, Esq. Does a listing agent have a right to see your buyer agency contract? At the moment, I can’t think of a good reason! It is not prerequisite to your being paid a cooperating commission. Your entitlement to that is wholly dependent upon whether you are...
Read moreThe Difference Between An Informal And Formal License Complaint
Attorney James L. Goldsmith covers the difference between and informal and formal license complaint. When faced with either, it is important to have an experienced professional licensure attorney on your side.
Read moreProfessional License Investigation Process
When you’re the subject of an investigation, it is important to understand the investigation process. Attorney James L. Goldsmith covers all you need to know.
Read moreProfessional License Complaint What To Do
Attorney James L. Goldsmith explains what you should do if you are notified that you are the subject of a professional license complaint. First and foremost, is to consult with an experienced professional license defense attorney.
Read moreHow An Attorney Can Help With A Professional License Application
Obtaining your professional license can be a difficult process. Attorney James L. Goldsmith discusses how an experienced professional licensure attorney can help.
Read moreBiggest Mistake Licensed Professionals Make Regarding A Complaint
The biggest mistake a licensed professional makes regarding a complaint is going in alone. Attorney James L. Goldsmith discusses the importance of having an attorney on your side when facing a complaint.
Read moreCommunicating Acceptance: When is a Binding Agreement of Sale Officially Formed?
By: James L. Goldsmith, Esquire Many believe that an Agreement of Sale is effective the moment both parties sign it. It can be, when the parties are in the same room to witness the others’ signing. More often, however, the parties review agreements at separate locations and without knowing what...
Read moreMyths Regarding Real Estate Transactions We Just Can’t Shake
By Jim Goldsmith, Esq. There is a lot of fake news out there! And there is a lot of fake news about news that is claimed to be fake that isn’t fake. Here you will see a number of real estate transaction myths that just might be true, or not!...
Read moreIt’s Not Too Early – Real Estate License Renewal Time Approaches
By Jim Goldsmith, Esq. Time is relative so whether May 31 is fast approaching or is way far out is for you to decide. What I can tell you is that by the summer and fall of 2018, many of you will be calling for help with real estate license...
Read moreTerminating A Real Estate Agreement of Sale
By Jim Goldsmith, Esq. Terminating an agreement of sale falls into one of three categories: 1) termination based on law; 2) termination based on a contractual right; and 3) termination unsupported by law or contract. Most terminations are based on a contractual right to do so and most of those...
Read moreWhat’s the Follow-Up?
Home Inspection Contingency Periods By James L. Goldsmith, Esq. The buyers entered an agreement to purchase a property with an external insulation finish system known as Dryvit. Upon inspection of the Dryvit, the report noted a few areas that were suspect for some moisture infiltration. The buyers decided to submit...
Read moreTake My Advice . . . Please Get a Home Inspection Before You Buy
By Jim Goldsmith, Esq. I was helping an old friend of mine son and daughter-in-law with their home purchase. The house that most caught their fancy, and the one they eventually purchased, was a flip. Now, I have a lot to say about flipped houses, primarily based upon the volume...
Read moreYour Real Estate Seller May Not Have a Dime’s Worth of Recourse!
In those good ole days of real estate transactions, offers were also accompanied by deposit checks. There was no place on the standard agreement to accommodate today’s practice of transmitting deposits “within ___ days (5 if not specified) from execution.” It is evident from the many inquiries on this topic,...
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