April 14, 2020
Be Sure To Read The Entire UPDATE. Items Are In No Particular Order.
Tri-County Title & Escrow, Inc.: Need A Quality Bi-Lingual Closing Agent?
Call LRI’s Attorney Susan Lopez (561) 362-9820. Competitive rates and superior service.
4400 North Federal Hwy., Suite 42
Boca Raton, FL 33431
M A K I N G M O R E M O N E Y
Refer Agents To LRI And Earn $1,000 Per Referral
This Is How We Get Most Of Our Agents
Click HERE for Detail.
* REMINDER*
New “Mandated” Form
“Waterfront Property With Ocean Access”
Please use this form with Waterfront Properties With Ocean Access.
If you are selling a Waterfront Property With Ocean Access, regardless of which side of the transaction you are on, use this form. This will protect all parties to the transaction. The seller, buyer, you, me, and LRI.
The new form is already on our LRI website. A copy is attached and if the attached copy is stripped out by your ISP or email client, you can click HERE to see a copy or copy and paste this link http://lensonrealtyco.wpengine.com/download/waterfront-property-with-ocean-access-3/.
Again, please start to use it right away. We are monitoring all waterfront proeprties with ocean access to make sure this form is used.
DropBox
You do not need an account with or to join DropBox to download our forms.
Some of our forms are on DropBox. DropBox has become more and more aggressive trying to get you to sign up with them. Just look in the upper right (or other) part of their pages as you try to download forms and see where it will allow you to download without signing up with them.
MLS & Office Phone Number
According to the RAPB & GFLR, agents are not returning phone calls. Therefore the MLS automatically is putting in the real estate company’s phone number where it says “Office” in the MLS and has removed your “Office” phone number. Your agent contact number is remaining. Only where it says “Office” it has reverted back to the company phone number.
Corporate Office Only
As a reminder, for the Corporate Lenson Realty, Inc. office aka Boca Raton office only (not our Orlando office) the suite number changed from 208 to 42.
Purchase & Sale Contracts Gone Wild
There are a flood of Purchase & Sale Contracts hitting the market in every possible language you can think of. Including braille and audiobook styles.
The ONLY Purchase & Sale Contracts we use with LRI are PRINTED and PRINTED in ENGLISH ONLY. This is Florida/USA and the primary language here is ENGLISH. Parties can get a translator if need be. Why? If there is an issue and I am called in (as I often am) then the language needs to be in English so I can read it.
This is not discrimination any more than the state of Florida declaring and allowing the primary language to be English.
Escrow Money & Wiring Instructions
Escrow money needs to be held ONLY by the company doing the closing. Not a real estate company. Rental money is not to be escrowed. Wiring instructions are NEVER put in an email. Contact the Escrow Agent directly for wiring instructions.
NEW Forms
There are NEW FAR Purchase & Sale Contracts and NEW FARBAR Purchase & Sale Contracts and their corresponding addenda.
The NEW FAR versions is CRSP16. The NEW FARBAR version is June 19, 2019.
P&S Contracts will soon be available only on Form Simplicity and not on the LRI website.
Be sure to use the FAR P&S Contract with FAR Addenda. Be sure to use FARBAR P&S Contract with FARBAR Addenda. Do not mix a FAR P&S Contract with a FARBAR Addenda. And vice versa.
If you need a P&S Contract or Addenda, go to Form Simplicity and download it from there. Do not stock pile forms since forms have gone through a lot of updating lately. Using old forms is considered negligence.
Listing Packets and Buyer Packets will remain on the LRI website. They are also updated regularly as the forms referenced above are updated, so be sure not to stock pile these packets. Download them NEW, FRESH packets each time you need one.
COVID-19 Addendum
The NEW COVID-19 Addendum was sent out to everyone recently. You may also find it in Form Simplicity.
If you would like a short video on the COVID-19 Addendum, click HERE. This link works as of the time this UPDATE was sent out to everyone.
Force Majeure
After conflicting information, it has been determined Force Majeure which is in ALL of the Purchase & Sales Contracts we use is NOT applicable to the Coronavirus. It is not viewed as an Act of G-d like a hurricane or earth quake would be.
In all cases I have seen so far, nothing changes since all parties either closed like normal or extended the contract dates. See the above COVID-19 Addendum if need be.
Photos
As you all likely know, I tend not to repeat past news but it appears it is necessary.
You Must Take Your Own Photos or Have A Professional Take Them For You.
Photos Are Proprietary Property
You Can’t Just Use Anyone’s Photos
If the Association President gives you a “stock” photo of the community, can you use it? NO! Those photos are OFF limits.
Google images are OFF limits.
Shutter Stock images are OFF limits.
Getty Images are OFF limits.
Facebook images are OFF limits.
And a bazillion other places are OFF limits.
If the homeowner gives you a photo, it is OFF limits.
You can only use a photo (image) if 1) YOU took the photo or 2) the person who took the photo has given you WRITTEN permission to use the photo. <— The next question is, did the person who gave you written permission have 100% rights to the photo allowing them to give you permission to use the photo?
We lost a lawsuit due to the above. If you have any questions, call the Help Line (561) 756-7002.
The Mark Lenson Mantras
Calling Associations:
Customers call Associations (Condos, Homeowners, or Cooperatives,) never the real estate agent.
It does not matter where the customer is living, it does not matter if the property is a foreclosure or a short sale. There are no exceptions. Customers and only customers call Associations.
Use Specific Dates:
When the P&S Contract refers to September 15, 2015, it is very clear. When a P&S Contract says something must be done within 20 days from the effective date… then not so clear.
What is the effective date? I have never found an agent who actually knew the definition of an effective date.
What days are included?
What days are excluded?
How are dates calculated? Using business days? Calendar days?
How are holidays handled? Which ones are included? Which ones are excluded? The P&S Contract references national legal holidays. Do you know which ones are the national legal holidays? That would be critically important to know.
If you use specific dates, then all of the unknown, all of the confusion, all of the calls I get that someone is out of contract will go away. You and all parties involved will have less headaches.
No Blanks, No Blanks, No Blanks:
No listing agreement, no purchase and sale contract, and no addenda should have any blanks in them.
When an agent leaves a blank on a document, it is unpleasant when another party fills it in with something not agreed upon by all parties. Now you have an argument between sellers and buyers because the agent left a blank in the document.
No blanks, no blanks, no blanks.
If It Is Not In Writing, It Never Happened:
It does not matter where you are, it does not matter who the witnesses are; in the transfer of real property, if it is not in writing then it never happened. It does not matter if you are talking over the telephone, it does not matter if you are talking nose to nose, it does not matter if you are talking into a plastic cup attached by a string……… if it is not in writing it never, never, never happened.
If something was agreed to verbally, then follow it up with an addendum, a text message or an email confirmation.
As always, call us on the Help Line (561) 756-7002 anytime.
If there is anything in particular you would like for me to review
either via the UPDATE or Brief Note, let me know.
Be Sure To Read Past
UPDATEs & Brief Notes
Posted On www.LensonRealty.com
Protect Yourself
“If It Is Not In WRITING, It Never Happened.”
Help Line (aka Life Line): (561) 756-7002
Warmest & Best Regards To You,
Mark Lenson
Confidentiality Notice: UPDATES ARE COPYRIGHTED and the property of Lenson Realty, Inc. The information in the UPDATE is proprietary and confidential. The above information belongs solely to Lenson Realty Inc. and may be disseminated to Lenson Realty, Inc. agents only. The UPDATE is not to be shared with anyone other than a Lenson Realty, Inc. Agent without the written permission from the Broker/Owner. If you are not a recipient as indicated above you may not use or copy or deliver this message to anyone else. In such case, you should destroy this message and kindly notify the sender by reply.
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