FOR RELEASE: May 20, 2016
For Further Information Contact: Jon Broadbooks, 217-529-2600
Q: How should I handle multiple offer presentations, and how can I be sure my offer is presented if I am the buyer's agent?
A: The License Act and the Code of Ethics require licensees to present all offers as soon as practicable, unless the seller waives the right to see each offer. There is no legal requirement that an agent present offers in the order in which they were received.
What Happens After the April 30 Illinois Broker License Renewal?
Q&A to share with your brokers, prepared by Carrie Elliott, Education Manager for the Illinois REALTORS® Licensing and Training Center.
I renewed my license online and it does not show that I renewed. How do I know if it worked?
Developer was not required to disclose off-site social conditions to purchaser. In Phoenix v. U.S. Home Corporation, 628 Fed.Appx. 825 (3d Cir. 2015), the purchaser of a house in a New Jersey development asserted claims of fraud and negligent misrepresentation against the seller developer.
It has long been traditional in the State of Illinois for a real estate brokerage company representing one of the parties in a residential real estate transaction to hold earnest money from the transaction in escrow. The Real Estate License Act of 2000 contains a number of provisions concerning the proper handling of such escrow accounts.