This is #1 of a 9-part series highlighting new and/or updated laws as of the closing of the October 2009 legislative session affecting buyers, sellers, and real estate agents in California. Subscribe to this blog so you won’t miss the rest of the series!
Assembly Bill 957 – Signed into law by Gov. Schwarzenegger on October 11, 2009 and stays in affect until January 1, 2015 is known as “The Buyer’s Choice Act.”
Before we go into the purpose of The Buyer’s Choice Act, let me give you a little of the back-story …
The process of buying a bank-owned (REO) property can be stressful on buyers here in the Palmdale / Lancaster area. During a time in which most foreclosure buyers think that they should have all the control – Hey, it’s a Buyer’s Market, right?! – when they actually get into the process of negotiating an offer on the home they’ve decided on they realize that they don’t have as much power as they thought …
