All Forum Posts by: Brian Stutzman

Quote from @Jacob Beg:

It might be worth getting advice from an attorney. Check with the local bar, most offer a reduced fee half hour consultation. 

So I doubt that the board can force the broker to purchase the property, there might be disciplinary issue for the agent/broker especially if he claims he hadn’t seen the contract. 

I would be angling to see whether this is claimable againsg the E&O policy, depending on how you design the issue. Or perhaps professional negligence, if the broker stands to lose his license-depending on the size, and having heard from an attorney, you might get a sizeable compensation because even courts, that is, if you trouble yourself with the litigation costs and get a favourable ruling, are likely to award a monetary sum. Of course, I am not an attorney but there are so many if's and but's and the legal verbiage is critical.

May be the broker is right, or May be not, that you are misconstruing the contract. Another argument is that had it not been for this misrepresentation (again verbiage is critical), you wouldn’t have entered into a listing agreement. I think this might be your far better argument. Again, if the sum is large enough and you age upset enough then get proper informed legal advice. 

 Thank you for this.  Frankly we have gotten some good advice locally which I can not post here but we had some thinking right and some wrong.  Best advice as you said: talk to someone who knows the law because it can be different than just a contract dispute in some states.

Quote from @Scott Autenreith:

Quote from @Brian Stutzman:

Quote from @Scott Autenreith:

What is the end goal for you? For them to buy it? Or to release the listing? 

 have them buy it!  The market went south, and the price they agreed on is good now.  The listing just expired anyway.

 Did you ever have an executed purchase contract? If no, it seems like an uphill battle

That is the point.  The wrote in the listing agreement that if after 90 days and some price drops the seller could have the broker buy it for a set price.  The seller wants them to buy it now as they said they would.  The agent said he would get the ball rolling and we have waited for a purchase agreement to be drawn up now that it is realevant and the broker, just thursday said that is first he has heard of anything the agent said, and had not even seen the listing agreement before.  My family member only listed with this guy because he promised they would buy the property if it did not sell and wrote some langauge to that affect on the listing agreement.  Thoughts now?

Quote from @Scott Autenreith:

What is the end goal for you? For them to buy it? Or to release the listing? 

 have them buy it!  The market went south, and the price they agreed on is good now.  The listing just expired anyway.

I posted this in legal but wanted a broader viewpoint.  

I have a family member who listed a property and the agent put in additional wording on the listing contract (it has an additional paragraph in our state for additional terms). As the listing was coming up to expire we said lets have you buy it and the agent said he was starting that then went radio silence. So we set up a meeting with the agent and broker and they completely backtracked and said they do not do this type of thing, picked apart the wording, and the broker said that we are interpreting things differently than they do, and they had no interest in buying it, while the agent was looking at the floor and did not say anything. We are considering arbitration, and the local real estate board offers that for a small set fee, but are we going to get a fair shake there because these guys might be friends with the broker? It is a $192K deal. Thoughts?

I have a family member who listed a property and the agent put in additional wording on the listing contract (it has an additional paragraph in our state for additional terms).   As the listing was coming up to expire we said lets have you buy it and the agent said he was starting that then went radio silence.  So we set up a meeting with the agent and broker and they completely backtracked and said they do not do this type of thing, picked apart the wording,  and the broker said that we are interpreting things differently than they do, and they had no interest in buying it, while the agent was looking at the floor and did not say anything.  We are considering arbitration, and the local real estate board offers that for a small set fee, but are we going to get a fair shake there because these guys might be friends with the broker?  It is a $192K deal.  Thoughts?

Quote from @Luis Chavez:

How did this go? Interested to know the outcome.

 We were succesfull with alot of help from the Lord above.  It is now Idaho law.

Hello (I posted this in a subforum but it seems to better fit here).  My wife and I are nearing retirement and own a couple rental homes that are finally paid off. So this is simple. No partners, no mortgages, nothing funky. We are looking for the best way to hold our properties for the long haul - the safest way as far as asset protection. Trusts, land trusts, LLCs, Series LLCs, - tons of options. We have lots of insurance, and see Anderson Ads and are near a KKOS office- things I have read about. Our #1 goal is to simply hold our property safely where they can not be sued away from us. We also have a S CORP for our business of 25 years ...we just want each asset to be protected from something gone bad with another asset. (For example an employee of the S corp drives his company truck into a crowd of people and we get 25 lawsuits and they try to come after everything we own). We have a lot of insurances, just want ideas on how to hold assets for the long term safely. All assets are in Idaho. Thanks in advance.

My wife and I are nearing retirement and own a couple of homes that are finally paid off and we want to keep them long-term.  So this is simple.  No partners, no mortgages, nothing funky. We are looking for the best way to hold our properties for the long haul - the safest way as far as asset protection.  Trusts, land trusts, LLCs, Series LLCs, - tons of options.  We have lots of insurance, and see Anderson Ads and are near a KKOS office- things I have read about.  Our #1 goal is to simply hold our property safely where they can not be sued away from us.  We also have a S CORP for our business of 25 years ...we just want each asset to be protected from something gone bad with another asset.  (For example an employee of the S corp drives his company truck into a crowd of people and we get 25 lawsuits and they try to come after everything we own).  We have a lot of insurances, just want ideas on how to hold assets for the long term safely.  All assets are in Idaho.  Thanks in advance. 

So the legislature pulled back the bad bill in my opinion, H617, and proposed a better bill , in my opinion.  It looks like it came out today.  Same end goal, but it seems like it is more practical and better.  H730.

Find the description and bill text here

The rental application bill was pulled back from the floor yesterday and put back in committee it might be dead.

The 60 day notice bill has been held by the chairman and the committee. It might be dead