A new real estate law has come into effect in California: Assembly Bill 957,"Buyer's Choice Act."
AB 957, "Buyer's Choice Act", prohibits a seller of residential real property improved by four or fewer dwelling units from requiring directly or indirectly, as a condition of selling the property, that title insurance covering the property or escrow service provided in connection with the sale of the property be purchased by the buyer from a particular title insurer or escrow agent.
This section does not prohibit a buyer from agreeing to accept the services of a title insurer or an escrow agent recommended by the seller if written notice of the right to make an independent selection of those services is first provided by the seller to the buyer.
A "Seller" means a mortgagee or beneficiary under a deed of trust who acquired title to residential real property improved by four or fewer dwelling units at a foreclosure sale, including a trustee, agent, officer, or other employee of any such mortgagee or beneficiary.
Any seller who violates this section shall be liable to a buyer in an amount equal
to three times all charges made for the title insurance or escrow service. In addition, any person who violates this section shall be deemed to have violated his or her license law and shall be subject to discipline by his or her licensing entity.
There is a lot of free information available to you about buying, selling, investing, or relocating in the Fremont real estate market. If you are considering buying or selling property, planning to relocate, looking for East Bay Area homes for sale, or looking for any other information about real estate in the East Bay, or the surrounding areas, please visit the most complete website dedicated to everything real estate related www.ClydeBrownHomes.com.
If you or someone you know are in need of a competent and experienced Bay Area Realtor, or have real estate or mortgage related questions, please feel free to contact me I will be more than glad to answer your questions. Call me at 800-839-0665 or email me at Clyde@ClydeBrownHomes.com. For all your East Bay cities needs including Fremont, Newark, Union City, Hayward, Oakland, Santa Clara, Milpitas, Dublin, Livermore, Pleasanton, and San Ramon. Clyde Brown Legacy Real Estate & Associates.
