Keeping a pulse on the legal affairs that affect you most

In the ever-evolving technological era two types of appraisals have emerged: hybrid appraisals and desktop appraisals—appraisal methods that intend to utilize technology to make the appraisal process faster and more efficient.

Even prior to the Food and Drug Administration (FDA)’s full approval of the leading COVID-19 vaccines began this past August, the debate has raged as to whether employers could/should/must adopt a vaccine policy in the workplace and how businesses and their customers would interact with in-person commerce returning in the economy. There has been no shortage of opinions from all sides. To state the obvious, the residential real estate industry is not immune from the debate, nor the effect of governmental mandates, private company policies, and the personal beliefs of its customers.

The following document is a summary of the questions and answers from the 2020 and 2021 Hotline. The Louisiana REALTORS® maintains a hotline for their Brokers to answer questions affecting the real estate industry as a whole. The hotline does not provide legal advice but provides general information. It is important to note that the laws and court decisions affecting these responses to these questions may change as new laws are passed and new court decisions are published. The topics commonly asked fall into the below categories:

The real estate market has become increasingly competitive especially in the aftermath of the COVID-19 pandemic. One tool to compete in this market that REALTORS® are discussing with their clients is using escalation clauses in a buyer’s offer to purchase real estate. This article discusses escalation clauses and the potential impact on buyers, sellers, and their agents in real estate negotiations.

In late December 2020, federal legislation was passed to allocate $25 billion nationwide to be utilized for rental and utility payments for those adversely affected by the COVID-19 pandemic. These dollars are not yet available as there are still several details that need to be worked out by both the federal and state government regarding how to disperse the funds.

Multiple offers on a property is great news for a seller. However, negotiating multiple offers on a sale of residential property can be fraught with potential pitfalls for all parties involved in the real estate transaction. It is critical that REALTORS® have a clear understanding of the rules and industry standards to provide to their clients when multiple offer negotiations occur. Some common issues that arise during multiple offer negotiations are discussed below.

Many residential and commercial properties were partially or substantially damaged by hurricanes this year. This article addresses issues that Buyers and Sellers should consider when natural disasters strike during a pending real estate transaction. A sample addendum to the Louisiana Residential Agreement to Buy or Sell with several options for Buyers and Sellers is provided below.

When a natural disaster like Hurricane Laura strikes, health and safety concerns are paramount. If a natural disaster strikes during a pending residential or commercial real estate transaction, there are numerous important issues to consider as buyers and sellers navigate completion of the transaction.

Landlords and tenants continue to be significantly impacted by the COVID-19 pandemic. The ramifications that the pandemic may have on specific leases is fact and contract specific. Many commercial and residential tenants are requesting lease modifications from their landlords. Sample COVID-19 Lease Modification Application (commercial) and COVID-19 Lease Modification Application (residential) are provided.