Does a licensed real estate broker, apparently acting as a
Does a licensed real estate broker, apparently acting as a principal, have to disclose at the commencement of an engagement that that they are acting as a broker? I'm involved in such a dispute. A broker/investor came to me looking for an investment property for himself. I've found one and his father made an offer to purchase. The original customer now says he's the broker for the buyer and is entitled to a split of the commission.JA: Where is the property located?Customer: Norwalk, CTJA: Has any paperwork been filed?Customer: It's commercial property, and we've received a written offerJA: Anything else you want the lawyer to know before I connect you?Customer: don't think so
I am negotiating a real estate Lease on commercial property
I am negotiating a real estate Lease on commercial propertyplease can you break down in laymans terms what the following clauses mean & how can i negotaite them to be slightly more favorble for me ?----------------------------------------------------------------------ANTICIPATED DELIVERY DATE: On or before October 30, 2016RENT COMMENCEMENT: The earlier of i) One Hundred Twenty (120) days following the Delivery Date, or ii) Tenant's opening for business.FIXED MINIMUM RENT: Annual Base Rent shall be paid on a monthly basis in accordance with the following schedule: $32.00 psf NNN with 3% annual base rent escalations throughout the primary term and option period(s), if exercised by Tenant.ADDITIONAL RENT: Additional rent shall include those charges hereinafter designated as such in this Proposal and shall be estimated by Landlord for the first Lease Year or partial Lease Year that precedes the first Lease Year and provided to Tenant on or before the date Additional Rent begins. Such amounts shall thereafter be adjusted at the end of each Lease Year or partial Least Year per the terms of the Lease Agreement. Tenant shall pay its pro rata share of Additional Rent items including, but not limited to, Common Area Maintenance, Real Estate Taxes and Insurance. The estimated amounts to be paid by Tenant for the first year of the Term are $5.50/sf.*this amount does not include water, sewer, trash or electricity of which Tenant shall pay its proportionate share based on usage.PERCENTAGE RENT: Percentage Rent shall be an amount equal to five percent (5%) of Annual gross receipts in excess of the natural breakpoint. GROSS SALES On or before the tenth (10th) day of each calendar month during the REPORTING: term of this lease Tenant shall prepare and deliver to Landlord a statement of Gross Sales made during the preceding calendar month, certified by Tenant to be accurate.LANDLORD'S WORK: The Landlord will deliver the Premises in ‘raw shell' condition. Uponthe Delivery of Possession, Tenant will, at its sole cost and expense, proceed to upfit the space in accordance with the plans and specifications submitted to and approved by the Landlord.
I signed a California Association of Realtors Residential
I signed a California Association of Realtors Residential Listing Agreement- Exclusive Authorization and Right to Sell Form and changed my mind about selling the property less than 24 hours after signing. However, the broker will not work with me to terminate the agreement even after telling her the property is not for sale and to withdraw the listing. The contract is good for one year and she's holding me to it. She is unethical and won't compromise even though I am unhappy and don't trust her.However, this is not my primary residence. It is tenant occupied and I have been earning rental income on this property and paying taxes on rental income of the property for 5 years. Shouldn't I have signed the Commecial, residential income non-owner occupied listing agreement instead? What are my rights? Does this void the residential listing agreement since it is not my residence?
THE REAL ESTATE QUESTION THAT I HAVE IS IN RELATIONSHIP
THE REAL ESTATE QUESTION THAT I HAVE IS IN RELATIONSHIP BETWEEN ME AND MY BROKER, WE HAVE A WRITTEN AGREEMENT THAT SAYS THAT ANY LISTING THAT THE FIRM GET THROUGH MY CONTACTS AND CLIENTS THE SPILT WILL BE 50%-50% FOR COMMERCIAL PROPERTIES AND 75%-25% FOR RESIDENTIAL PROPERTIES, I SECURE A PROPERTY FOR ONE OF MY CLIENTS AND SHE EXPRESS THE DESIRE TO ACCOMPANY ME TO SEE THE PROPERTY WITH MY CLIENTS. NOW SHE IS CLAIMING THAT SHE DESERVES 50% OF THAT DEAL AND NO 25% AS OUR COMMISSION AGREEMENT SAID BECAUSE SHE HELPE ME, MY QUESTION IS,JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: IF SHE DIDN'T EXPRESS IN ADVANCE THAT SHE WAS ASSISTING ME AS AN AGENT AND NOT AS MY BROKER, IS SHE HAS THE RIGHT NOW TO CLAIM THE DIFFERENCE IN THE COMMISSION?JA: Has any paperwork been filed?Customer: FLORIDA, THE CONTRACT IS EXECUTE, AND WE HAVE A WRITTEN COMMISION AGREEMNET SIGNEDJA: Anything else you want the lawyer to know before I connect you?Customer: THAT SHE NEVER EXPRESSED BEFORE THE CONTRACT WAS EXECUTE THAT SHE WAS ASSISTING ME AS AN AGENT, SHE NEVER TOLD ME AND NOW SHE IS ASSUMING THAT I SHOULD KNOW.
Can the same lien be placed on three properties. Arizona,
can the same lien be placed on three properties.JA: Where is the property located?Customer: ArizonaJA: Has any paperwork been filed?Customer: yes on commercial real estateJA: Anything else you want the lawyer to know before I connect you?Customer: The lien is for 250k line of credit. I never drew from the line of credit so zero draw but the guy wants to foreclose. He has placed 250k on three different properties.
My question is out of curiosity and pretty much being nosy.
My question is out of curiosity and pretty much being nosy. I randomly like to pull up the local register of deeds documents and just look at various deeds and mortgages. This evening I saw something that I had never seen before. It is an "Assignment of Rents" document. I did my own research as to what this is...and there was an "assignment of rents" clause in a deed with the mortgage company on this particular piece of commercial property. Is an assignment of rents executed when a person, company, defaults on the mortgage payment? Is it because the owner of the commercial property decided to rent out the commercial building that they had a mortgage? I'm just confused because I have never seen this as an actual enforced document...not just being a clause.
Can a Mall Landlord (In California) incorporate in their
Can a Mall Landlord (In California) incorporate in their lease agreements a clause to force tenants to purchase local advertising?"The landlord's intention is to guarantee foot traffic for the tenants, and reduce default rates.We have been informed that this strategy is utilized in some malls in southern California.