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 is available in:
English
Spanish
Chinese
Tagalog
Vietnamese
(You must have Adobe Acrobat Reader to read and download these files. If
you don't have it, click
here.)
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