America’s Most Honored Professionals

Real Estate Attorney in San DiegoSan Diego Attorney Greg Olson has been awarded America’s Most Honored Professionals by Martindale-Hubbell®.

This prestigious honor is awarded for continuous professional recognition; an accomplishment realized by the Top 10% of American Professionals.

All qualifying public recognition of excellence are certified by The American Registry and include:

  • Significant mentions in the press
  • Honors recognized by trade groups
  • Acclaimed recognition by peers or clients

Learn more about our Real Estate Attorney in San Diego.


Real Estate Buyers Favored in Recent CA Supreme Court Decision

The California courts returned a recent ruling in a case that has been closely watched by Real Estate professionals. The San Francisco Chronicle reports that the Court determined that a fiduciary duty is owed to both the seller of the property and the buyer if both agents work for the same brokerage firm.

While the implications of the ruling may not be felt immediately by the industry, Realtor Mag notes that there could be wide-ranging ramifications affecting dual-agency roles.

According to California law, a real estate broker may act as an agent for both the buyer and the seller. However, the broker must disclose that they owe a fiduciary duty to both parties, and both must consent to the arrangement.

The argument at the center of this case was whether the fiduciary duty includes “associate licensees,” individual agents or salespeople who operate under the license of the broker, with the Court ruling unanimously that individual agents are included.

The 2007 sale of a Malibu luxury home sparked the case, which arose out of a dispute on the listed square footage. The sellers of the $12.25 million house were represented by Coldwell Banker, while the buyers were represented by agents from a separate Coldwell Banker office.

Two years later, the home’s buyer, Hiroshi Horiike, reviewed the building permit and discovered a discrepancy between the square footage on the permit as compared to the seller’s description. Horiike filed suit against the seller’s agent, Chris Cortazzo, who is a salesperson in Coldwell Banker’s Malibu West office. Horiike also sued Coldwell Banker, whom he accused of breaching their fiduciary duties. His own agent, Chizuko Namba, was a salesperson for Coldwell Banker’s Beverly Hills office but was not named in the suit.

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Real Estate Attorney Receives High Rating Award

Best Real Estate Attorney in San DiegoSan Diego Real Estate Attorney Gregory P. Olson is the recipient of the 2017 Martindale-Hubbell® award for having a very high rating in both legal ability and ethical standards.  For over 140 years, The Martindale-Hubbell® Peer Review Ratings™ have been an objective indicator of a lawyer’s high ethical standards and professional ability, generated from evaluations of lawyers by other members of the bar and the judiciary in the United States and Canada.
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What Should I Know Before Buying Property in California?

Buying real estate in San Diego, CA or anywhere in California is a major step, and you need to be fully prepared for the legal aspects of purchasing a home before plunging in. Real estate attorneys who understand the body of law governing home purchases can help a great deal, and consulting with one of them might help to avoid any unpleasant surprises during the process.

Here are some of the important legal considerations to be aware of:

  1. Public protection – the state of California considers the protection of the public to be the most important consideration in all its business laws regarding licensure, regulation of business, and disciplinary functions
  2. Disclosure statements – One of the most important documents you can receive from property sellers in California is the Transfer Disclosure Statement, which is mandated by law, and intended to provide prospective San Diego, CA buyers with specific information so they can make informed decisions about any potential property purchases. The bulk of the information contained on the Transfer Disclosure Statement relates to the physical condition of the property, and this must be kept accurate. Another disclosure you are entitled to as a home buyer is the Natural Hazard Disclosures Statement, which details information about the property’s relative proximity to flood zones, earthquake fault lines, and any other natural hazards which have historically affected the property.
  3. Dual agent status – A dual agent is an individual who represents both the seller of a property and a potential buyer of that property. Whereas it may seem that a conflict of interest is inherent in this situation, it is allowed under California state law only when the potential buyer is aware of the agent’s status as a representative of the seller as well as a regular real estate agent representing the buyer. Even if the real estate broker you deal with is licensed as a dual agent, it would be well to keep in mind that the agent must somehow balance achieving the highest purchase price for the seller, and the lowest purchase price for the buyer.
  4. Meeting between Buyer and Seller is not mandatory  –  California state law does not require that the buyer and seller of any piece of real estate meet in person at any point during the transaction. This means the entire process of home purchasing can be conducted through agents, brokers, or lawyers right through to the actual exchange of possession. One good thing about this is that no schedule conflicts are ever involved with the seller of the property, since everything is done according to the schedule for agents of the buyer and seller.

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