Buyers can terminate real estate contracts under certain conditions, including the failure of any contingencies, and get their earnest money back. Sellers, however, have fewer opportunities to cancel. The Seller has agreed to the price and agreed to the terms and contingencies. If the Buyer fulfills their obligations, terminating the Purchase Agreement becomes very difficult for a Seller.
Landlord Tenant Law and the Fair Credit Reporting Act Stay in Compliance with the GAR Adverse Action Letter
If you use consumer reports to make tenant decisions, you must comply with the Fair Credit Reporting Act (FCRA). The Federal Trade Commission (FTC) enforces the FCRA. Tenant background checks can include a variety of information, including rental and eviction history, credit, income or criminal records.
If you take any action that is unfavorable to the interests of a rental applicant or tenant based on information in a consumer report, then you should send an adverse action.
Stigmatized properties are homes that some buyers find undesirable due to emotional or psychological reasons. Typically, homes are stigmatized when emotionally upsetting events such as murder, suicide, and sexual assaults occur on or near the property.
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