Chrystina Tovani

This is often misunderstood by consumers and it is up to the agent to explain the importance of an agency relationship. Consumers want to be sure that their agent is on their side and representing their best interest. An agency relationship is created to form a fiduciary relationship.

With an agency relationship, the buyer, seller, and agent are bound together in a legal relationship, with all the duties and rights that go with that connection.

So, what is Agency?

Agency is the legal relationship an agent has with a buyer and/or a seller. The law of agency is the one that gives everybody the right to be fairly represented in a real estate transaction where there is a broker involved.

Under the Disclosure of Agency Law

An agent may represent only the buyer, only the seller, or both. All parties must acknowledge their understanding of who is representing them and sign a disclosure.

Buyers or sellers can be confident that an agent on their side in the negotiations is representing their best interests.

Seller's Agent

A Seller's agent under a listing agreement with the seller acts as the agent for the seller only. A Seller's agent or a subagent of that agent has the following affirmative obligations:

To the Seller:

A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Seller.

To the Buyer and the Seller:

(a) Diligent exercise of reasonable skill and care in performance of the agent's duties.

(b) A duty of honest and fair dealing and good faith.

(c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the parties.

An agent is not obligated to reveal to either party any confidential information obtained from the other party that does not involve the affirmative duties set forth above.

Buyer's Agent

A selling agent can, with a Buyer's consent, agree to act as agent for the Buyer only. In these situations, the agent is not the Seller's agent, even if by agreement the agent may receive compensation for services rendered, either in full or in part from the seller.

An agent acting only for a Buyer has the following affirmative obligations:

To the Buyer:

A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the buyer.

To the Buyer and the Seller:

(a) Diligent exercise of reasonable skill and care in performance of the agent's duties.

(b) A duty of honest and fair dealing and good faith.

(c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the parties. An agent is not obligated to reveal to either party any confidential information obtained from the other party that does not involve the affirmative duties set forth above.

Agent Representing Both Seller and Buyer

A real estate agent can legally be the agent of both the Seller and the Buyer in a transaction, but only with the knowledge and consent of both the Seller and the Buyer. This can be difficult to do because the agent knows how much money the buyer is willing to pay AND how low the seller is willing to go to sell the property. The agent is NOT allowed to disclose this information without the express written consent of both parties.

It is of the upmost importance for the consumer to understand exactly how his or her agent is representing them. Never assume the type of agency you have, get it in writing.

Another very important thing to consider when working with a real estate agent:

A real estate agent is a person qualified to advise about real estate. If legal or tax advice is desired, consult a competent professional. A real estate professional is NOT supposed to offer legal or tax advice.

42nd Annual North Highlands/Antelope Memorial Day Parade Monday, 26 May 2008

VFW Post 4647 will present the 42nd Annual Memorial Day Parade honoring all those who gave their lives in defense of our great country.

Applications are now being accepted for parade participants.

Trophies will be awarded in each category. A participation ribbon will be given to each individual participating in the parade. All parade entries will be considered and must be approved by the Parade Committee.

To download and print a copy of the entry form along with the parade route map, visit:

http://vfwpost4647.org/ or Click on the photo to go directly to the Parade sign up information.

For entrants and viewers there will be hot dogs, sodas, and beer (plus a no-host bar, of course) available at VFW Post 4647 following the Parade.

If you have any questions, you can call Parade Co-ordinator, Barbara Fowler at 916-267-3812

Photos from 2007 Memorial Parade from Apple Jack's collection on Flickr.

Chrystina Tovani - Sacramento Metro Living
Sacramento, CA
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Habitat For Humanity may be able to reuse some of your old stuff.

Sacramento's Habitat For Humanity's ReStore is a place where you can purchase or donate items from remodeled homes. Many donations are tax deductable and they will provide you with a receipt.

They accept everything from tools, lumber, wheel barrows, dishwashers, fixtures and household appliances to be reused by the community.

Many items are sold to lower income families through the store.

The Sacramento store is located at:

8351 Umbria Ave., Bldg. 5, Bay 1
Sacramento, CA 95828

916-440-1215 x 1107

They also need volunteers to help run the store.

For more information visit their website

Photo courtesy of Flickr

Thanks to Tracy Riba e-Pro, Johnston County NC Relocation Expert for her article Consider Habitate for Humanity's ReStore when rehabing a home which brought this to my attention.

Interested in purchasing an REO property? REO means Real Estate Owned or managed by Fannie Mae. Fannie Mae developed a brochure for home buyers interested in purchasing California properties owned or managed by Fannie Mae. This brochure will help you understand the process, costs, and risks involved. You can download a copy of this brochure here. I have addressed some of the key questions that I get often, however there is more detailed information and questions on the brochure that I have not addressed in this article. I only highlighted what I felt was the most important part.

How is buying a home owned or managed by Fannie Mae different?

Usually when you buy a home you are purchasing it directly from the seller who lives in the property. When you buy a home that is owned or managed by Fannie Mae or other corporate sellers you are dealing with a seller who has not occupied the home but has acquired it through foreclosure, deed in lieu of foreclosure or forfeiture. When buying this type of property (REO) it is important to know the condition, the costs of any needed repairs and the steps in the loan qualifying process before you enter into a sales agreement.

Has Fannie Mae fixed everything in the house?

Not likely. They may add fresh paint, new carpet, roof, siding, etc. Still, that does not mean that everything has been fixed or is new. Fannie Mae sometimes makes repairs to properties to make them more marketable but there could still be issues concerning safety that require repairs. Fannie Mae sells each property in "AS IS" condition. This means that you, as the buyer, accept the property in its condition at close of escrow. Fannie Mae does not warrant or guarantee any work that may have been done on the property. You should hire a qualified professional to inspect the condition of the property whether it has been repaired or not. Hiring a home inspector is a good practice no matter what type of home you buy.

What can you tell me about this house?

Since Fannie Mae is not a seller who lived in the home, they are exempt from completing a transfer disclosure statement. If Fannie Mae has any knowledge of any hazards on properties they own, they will disclose this information through their listing agent. Home buyers are encouraged to inspect the property and have a professional home inspection.

Will Fannie Mae accept an offer contingent on the sale of my house?

No.

Can I buy a house directly from Fannie Mae without going through real estate agents?

No. You may work with any real estate professional you like, however all offers must be submitted through the listing agent.

What happens if Fannie Mae gets more than one offer?

Submit your best offer in writing through your real estate agent. Fannie Mae is not obligated to accept any offer submitted. They will accept the offer that is in their best interest.

Download the full brochure.

I hope this information was helpful to you. If you have further questions or need assistance in buying or selling a home, feel free to contact me.

Sincerely,

Chrystina Tovani specializes in the sale and financing of Single Family Homes, Condos, Townhomes, and Income Properties, in Sacramento. Sacramento Agent, Chrystina Tovani, assists first time home buyers as well as home buyers and sellers of higher end properties. Whether you are moving up or into your first home, Chrystina will guide you through a smooth real estate transaction.

One of my passions is devoting my time and resources to our veterans. I am a Life Member of the Ladies Auxiliary of the Veterans of Foreign Wars and I am proud to be a member of one of California's largest posts, Post 4647. If you are a returning soldier or have served in the military and want more information on the services that the VFW provides, just follow the links below.

Ever since its founding more than 100 years ago, the VFW has donated millions upon millions of volunteer hours, been a strong supporter of our country's youth, been a major supporter of patriotic and educational efforts and been an unwavering advocate to our military, its veterans, and their families. Of all we do, our programs make the greatest impact on the lives of those we serve and honor.

Here is information about the post I belong to, but there are posts all over the Uniteds States. You can find a local post in your area by visting the National VFW site at www.VFW.org

Membership Information

There's usually something fun going on in the Canteen. Every Friday evening there is dinner and dancing. Dinner is served at 6pm and there is a live band or a DJ that starts at 7:30pm. Every Sunday you can enjoy a hearty breakfast of eggs cooked to order, bisquits and gravy, sausage, bacon and hash browns beginning at 9am until about 11am. Enjoy great company and great music every Sunday evening with our DJ in the Canteen.

During the year there is horse shoes, bowling, golf, pool, darts, dominoes, bus trips to Reno, and lots more to offer for recreation and relaxation.

VFW Post 4647 News & Updates

I hope this information was helpful to you. For more information about the VFW visit http://VFW.org