Under Disclosed
Don't Take My License
Abbreviations
It's In the Contract
Terms
100
This mandated agency document is used on every transaction buy, sell or lease and should be signed by your clients before any other.
What is Agency Disclosure (AD)
100

California State Realtor Licensing and Auditing Authority

What is Department of Real Estate

100

COP

What is Contingency for Sale of Buyer’s Property

100
Contract for Purchasing a Home in California
What is Residential Purchase Agreement
100
Brokerage firm represents both buyer and seller in a transaction
What is Dual Agency
200

Form used by the seller to answer detailed questions regarding property history. 

What is Seller Property Questionaire (SPQ)

200
Legally "Holds" Your License during your tenure in your brokerage
What is the Broker
200

What does MCA stand for?

What is Market Center Administrator (ROSIE!)

200
Name of form used if buyers fail to remove their inspection, loan or appraisal contingencies
What is Notice Buyer to Perform (NBP)
200

This form allows a seller to remain in the property for up to 29 days after close of escrow.

What is the Seller in Possession (SIP) Addendum?

300
Part of the Transfer Disclosure Statement - Form used by Agent to inspect and disclose their observations on a property
What is Agent Visual Inspection Disclosure (AVID)
300

How to lose your license with a misrepresentation of facts

What is committing fraud

300

PITI

What is Principle, Interest, Tax, and Insurance

300
Required form if Seller wishes to rent back home after close of escrow less than 30 days
What is Seller in Possession (SIP)
300
Property sold below amount owed by trustors
What is Short Sale
400

Required in-house form notifying buyers and sellers that Escrow and Transaction Coordinators may be separate companies owned by the same company as the Brokerage?

What is Affiliate Business Disclosure

400
Name of state tax authority that will suspend your license for failure to pay taxes
What is Franchise Tax Board
400

CMA

What is Comparative Market Analysis

400
Form used to force party to finish/close sale of property after all contingencies have been removed.
What is Demand to Close
400

This is the increase in property value due to changes in the market, improvements, or demand.

What is Appreciation?

500
Often wrongly considered as only required with Home Owner's Associations, this document often provided by title or escrow company stating condition and restrictions on use of property.
What is Convenants, Conditions & Restrictions (CC&Rs)
500
Term for placing of clients' funds en"trust"ed to you into personal or office general banking account will almost always result in loss of your license.
What is "Commingling"
500
FIRPTA - Form used to withhold taxes on properties sold by a foreign person (transferor)
What is Foreign Investment in Real Property Tax Act
500

This term describes the compensation amount a buyer risks losing if they default, which is pre-agreed in the contract.

What is Liquidated Damages?

500
Judiciary Process where courts assign person(s) authorized to sell property for the estate of deceased with no will
What is Probate
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