Today’s General MLS meeting had refreshments provided by Mission Hill Mortgage. We thank them for their constant support of our meetings. You can reach them at 224 0807. We had a guest from Flooring Liquidators on Market Street who offer a line of discontinued flooring and installation, and who distributed a flyer. 244 3878

There was a brief discussion about the recently enacted CLTA Buyer’s Choice Act

“The Buyer's Choice Act (AB 957 - Galgiani) prohibits a seller who acquired title to residential real property at a foreclosure sale from requiring a buyer to purchase title insurance, or escrow services from a company chosen by the seller as a condition of receiving offers or selling the residential real property.”

This issue is more complicated than it sounds, but it just passed, so stay tuned for more info.

Our featured guest was Tim Ferris, attorney for the association, who has just recently attended a legal affairs conference in San Jose. He had the latest legal information affecting your practice. There was especially crucial information about Short Sales and Loan Modification. You can’t give tax advice to your sellers, but there’s a good IRS Q&A sheet for your clients HERE, and additional information from CAR HERE. We have made his talk available to you at our Podcast Page as podcast #16. It’s important that we all be on the same page about these complex transactions and their effects on the consumer. Please take the 50 minutes to give this a listen if you were unable to attend. I was happy to hear all the information a second time in fact, since he packs a ton of good info into the talk. These podcasts are great to hear while doing menial tasks, or working out. It was important information, and all who attended learned something. If you find these posts and podcasts useful, please comment or let a director know your thoughts. Skip Murphy