Real Estate Law USA.com

I have a strong background in mortgage and title, have practical knowledge of real estate law, and an MBA (meaning, good with numbers and marketing). I *am not* a realtor, but have a working knowledge of comps, real estate contracts, disclosures, and the sales process. We have recent sales in our relatively small building, so we have a good source for comps and plan to get an appraisal. We would really like to try to sell on our own. I’ve heard of companies that allow you to pay to list on the MLS and would like to do this. My impression is that I would have a lock box and the buyers agent would have access to show our condo at their convenience (and we’d make ourselves scarce). Does this sound right? What are the pros and cons of FSBO? How much should be offer in commission to the buyers agent?

I have located a condo that I am interested in buying and plan to make an offer early next week. I have done some research on recent comps and have found the price to be very reasonable. The unit is being sold by a real estate broker who bought it as an investment property ~5 yrs ago. I’m trying to determine if I need a realtor. I was in the title/mortgage industry for 6 years, but this is my first home purchase. I am familiar with the process and have taken coursework in real estate law & was a licensed title agent. I plan to purchase a home inspection and know what contingencies I plan to ask for. Do I need a realtor at this point? I am familiar with purchase contracts; would it be odd for me to ask the owner to have his office draft a contract for my review? What if I had an attorney review it as well? Any thoughts? I want to close by mid-August and already have a mortgage approval (pending appraisal & title, of course). Thanks!

We purchased a 2 story home, in OK, that was listed as having 2890 sq ft. The home was built in 1973 and needed some major updating. We thought we were getting the home for $51 a sq ft. After living in the home for one month we finally got a copy of our appraisal and to our SHOCK the home only has 2187 sq feet! Did I mention the realtor was the seller’s mother? This was a GROSS misrepresentation. Anyone know OK law that can give us some advice? The county assessor’s records were WRONG. We found out the home had only sold one other time and it was listed at APPROX 2400 sq ft then. It turns out the same appraiser did the appraisal for the previous buyers and he said, "The house didn’t grow." What do we do now? We just lost about $40,000 and this is a nationwide realtor. Our previous home (our first) was only 1200 sq ft so this one seemed WAY big to us.
I also forgot to mention that is 703 sq ft short of what they advertised. AUGH!

Are there any laws in place protecting the consumer with regard to the banks swaying the appraisal of a home? If so where are they on the web? Specifically I am wondering if a bank is allowed to utilize their own appraisal company when determining the value of a property that is attempting to be refinanced. Thank you in advance for your help.

I am planning to get my Real Estate Salesperson License this year.
I know their requirements are 3 course:
1. Real Estate Principles, and
2. Real Estate Practice, and
3. One course from the following list:
Real Estate Appraisal
Property Management
Real Estate Finance
Real Estate Economics
Legal Aspects of Real Estate
Real Estate Office Administration
General Accounting
Business Law
Escrows
Mortgage Loan Brokering and Lending
Computer Applications in Real Estate
Common Interest Developments

I am attracted to "General Accounting" for my 3rd course.
or what do they mean by General Accounting? Is there a course assigned for Real Estate General Accounting?
I have received a Bachelor degree in Business Administration, therefore I have completed Accounting 1A, 1B, and 1C.
Does that mean I have automatically completed 1 of the 3 course requirement?

So I can just take 2 courses then register for an state exam license immediately?

PS. For people who have already passed the exam, does the first 2 courses cover enough materials for you to pass the state exam?

I called a real estate firm and she was very rude when I asked her we needed a value check on a property and said it was against the law to ask such question, our company does this all the time b4 proceeding to order an appraisal or b4 summiting an application to the lender .. help .. is she right ??

The builder did the appraisal 6 months before the house was completed using the plans of the home to determine value knowing that values would be less when I closed.