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Third Party and Vendor Acts

Escrow Liability – Instructions on Disbursement

Type Matter:  Escrow Company Liability – Instructions on Disbursement
Issue:  Can an Escrow company be found liable to a Buyer’s Broker if they take Escrow instructions from a Seller and disburse the commission as directed by the listing Broker?
Answer:  No

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Escrow Liability – Sham Deals

Type Matter:  Escrow Liability
Issue:  Is an Escrow Company likely to be held liable when a sham deal between Buyer and Seller goes bad?
Answer:  Generally No

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Real Estate Appraiser’s Duty of Care in Partnership Disputes

Type Matter:  Real Estate Appraiser’s Duty of Care in Partnership Disputes
Issue:  Does a Real Estate Appraiser owe a duty of care to each Partner of a partnership when only one Partner engages the Appraiser to prepare an appraisal report for that Partner’s benefit?
Answer:  Probably not.

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Real Estate Appraiser Liability for Acts of Others

Type Matter:  Real Estate Appraiser Liability for Acts of Others
Issue:  Can a Supervisory Real Estate Appraiser be held liable for negligence of his/her trainee?
Answer:  Yes

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Real Estate Appraiser Liability to Third Parties

Type Matter:  Real Estate Appraiser Liability to Third Parties
Issue:  Are secondary market Lenders entitled to rely upon a Real Estate Appraiser’s appraisal report even though that Lender is not the intended user of the appraisal report and the Appraiser has no knowledge of the secondary market Lender where there are mixed statements regarding such usage?
Answer:  Probably

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Home Inspector Scope of Duties

Type Matter:  Home Inspector Scope of Duties
Issue:  Does a home Inspector have a duty to undertake more than a reasonable visual inspection?
Answer:  No

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Loan Modification Services

Type Matter:  Loan Modification Services
Issue:  Is an Agent at risk for giving loan modification advice where there is not compensation flowing from the Seller/Borrower to that Agent?
Answer:  Yes

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