Top 5 Things That Can Land You in Legal Hot Water

We want you and your clients to have a great transaction, before, during and after the sale – the bottom line for protecting yourself legally is that a little diligence now saves a whole lot of legal drama later.

Stay sharp, protect your clients, and protect yourself!

1)  Land & Vacant Property Scams

• Always have YOUR TRUSTED title company verify remote sellers. Never let them choose their own notary or title company.

2)  Cutting Corners = Costly (Your contribution to the deductible increases)

• Protect yourself (and reduce E&O deductible risk):
  • Use Board-approved forms
  • Require professional, whole-house inspections
  • Get written waivers if no Home Warranty is purchased (or include one)
  • Acting as a party to the contract & agent, you have increased the liability risk greatly
  • Do not be the agent on BOTH sides of the contract

3) Disclosure, Disclosure, Disclosure

• Don’t assume—verify:
  • Zoning accuracy
  • Resale Condo Certificate (Missouri)
  • Licensing required and issued (Airbnb, rentals, etc.)
  • Disclose any relationship to parties to the Purchase Contract (yourself, your cousin, your close friend – all should be disclosed)

4) Permits Matter

• Never assume permits were pulled. Always ask, check, and document. Permit violations can become the responsibility of the new owner.

5) Receipts & Leases

• Pass along all receipts and warranties for work done. Confirm all leased items (tanks, solar panels, water softeners, security systems, etc.) and how they transfer.