David Saks Blog

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Education & Training - The Real Estate Mart of Tennessee, Inc. - TN LIC# 290452
David Saks is a musician, real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2009 

                                                               #344 When a real estate broker acts as the agent for the seller the broker has an obligation to disclose confidential information about the seller to the buyer if it helps the chances of closing the deal. True or false ? Take your tim...
Posted over 4 years ago
                                                            #343 In a real estate transactionn, when one speaks of a fiduciary relationship their typically referring to a relationship that will allow another person to act on behalf of another with the additional privilege and grant of legal power...
Posted over 4 years ago
                                                            #342 A house was built on top a pile of manure. The ceilings of the home we're also poorly constructed and poorly attached to any supporting members or beams. This would be considerd an example of a stigmatized property ? True or false ?...
Posted over 4 years ago
                                                      #341 A buyer inquired as to whether or not a city landfill was going to be constructed on an adjacent lot in a new subdivision. The seller's agent replied that she didn't know even though the agent was fully aware of the fact and failed to dis...
Posted over 4 years ago
                                                           #340 A buyer paid $460,000 for the house. The lot was valued at $65,000. The mortgage was for $200,000. After all is said and done, how much equity does the homeowner have in the place ? A. $260,000 First of all, the value of the lot has ...
Posted over 4 years ago
                                                       #339 Homeowner's purchase homkeowner's insurance because they know that homeowner's insurance will replace old furniture and roofs when these things need replacing. True or false ? A. False Homeowner's insurance doesn't cover replacement beca...
Posted over 4 years ago
                                                   #338 A homeowner's house was constructed in such a way so that the floor of the house was built nearly two feet above a one hundred year old flood mark. The homeowner wants to apply for a federally related home loan. The lender must require flood...
Posted over 4 years ago
                                                      #337 A mortgage broker told a homeowner that he could deduct the appraisal fee from his annual gross income for income tax purposes. Is this true or false ? A. False It could be considered a fraudulent misrepresentation of facts regarding the ...
Posted over 4 years ago
                                                            #336 A homeowner insurance policy contained a provision for coinsurance along with coverage that insured the home for total replacement cost. The home burned down and the homeowner had to settle for the present cash value of property dam...
Posted over 4 years ago
                                                         #335 A developer built a highrise building in the greater Memphis metropolitan area. This highrise includes residential units, office space and retail stores and is considered to be a planned unit development. True or false ? A. False A hig...
Posted over 4 years ago
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David Saks

Memphis, Tennessee
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"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies

The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

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