In addition to the information about buying or selling a home and working with a REALTOR® that is found throughout this section, C.A.R. has other resources for non-English-speaking homebuyers and sellers. Some essentials:
Arbitration for the Consumer Most real estate transactions proceed fairly smoothly; minor disputes between the parties usually can be worked out with a little negotiation and compromise. However, buyers and sellers sometimes find themselves confronted with disputes that they are unable to resolve by themselves. Various alternatives exist for resolving disputes. One such method, which is growing rapidly in popularity, is arbitration. In fact, most real estate contracts, including those published by C.A.R., give the parties the option of agreeing up front to arbitrate disputes that might arise between them. This memorandum provides a brief overview of some of the issues parties to real estate transactions may confront when deciding whether or not to use arbitration as a method for resolving those disputes. Contact your REALTOR® to receive "Arbitration for the Consumer" in English, Chinese, Korean or Spanish via C.A.R. Online.
Liquidated Damages and Deposit Forfeitures Real estate transactions sometimes fail; that's a fact of life. When they do, the parties face the potentially bewildering task of figuring out who might be at fault and whether either has recourse against the other. The resolution of contract disputes can be quite complex. Liquidated damages clauses can eliminate some of this complexity. When made a part of a real property purchase contract, a liquidated damages clause enables a buyer and seller to agree up front, before problems arise, the amount of monetary damages a party will be entitled to in the event the other party fails to perform properly (i.e., if the other party "breaches" or "defaults on" the contract). Contact your REALTOR® to receive "Liquidated Damages and Deposit Forfeitures" in English, Chinese, Korean or Spanish via C.A.R. Online.
Mediation for the Consumer In recent years, our society has seen a dramatic increase in litigation. Turning to the courts to resolve disputes seems to be an almost instinctive reaction these days. However, the sobering reality is that lawsuits can be financially and emotionally draining for the participants, and can even impact our economy over the long-run. While buyers and sellers of real estate usually are able to negotiate away the little disputes that arise in the course of their transactions, sadly those disputes do sometimes end up in lawsuits. Fortunately, there are alternatives to litigation for resolving disputes. Mediation is one such alternative that is growing rapidly in popularity?one that can dramatically reduce the time and cost (both emotional and financial) of resolving disputes. In fact, many real estate contracts, including those published by C.A.R., now require the parties to mediate many disputes that might arise between them. Contact your REALTOR® to receive "Mediation for the Consumer" in English, Chinese, Korean or Spanish via C.A.R. Online.
"Los Bienes Raíces Son Nuestra Vida" This "Real Estate is Our Life" brochure explains how REALTORS® help in the homebuying and selling process in Spanish. To purchase this brochure: please click here and select "Multi-Language" in the menu area on the left. Then click item #BR0106.
NAR Code of Ethics The National Association of REALTORS® (NAR) adopted the Code of Ethics in 1913 following the professions of medicine, law, and engineering. REALTORS® in California are licensed real estate professionals who are members of one or more of California's approximately 125 local associations of REALTORS®. One cannot call himself/herself a REALTOR® unless he/she is a member of one of these local associations of REALTORS®. As members of organized real estate, REALTORS® subscribe to a strict code of ethics and take pride in maintaining professionalism in all aspects of business. Any REALTOR® you work with has voluntarily agreed to abide by the Code of Ethics REALTORS® and are subject to disciplinary action and sanctions if they violate the duties imposed by the Code. The Code of Ethics has been translated into Chinese (Simple and Traditional), Korean, Spanish, Tagalog, and Vietnamese. Please see the NAR Code of Ethics resourcefor a copy of the code, translations and more info.