Debate over real estate 'Buyer's Choice' law
Does California's AB 957 make a difference?
By Erik Pisor, Thursday, November 12, 2009.
Flickr photo by respres.Aimed at preventing banks from dictating the escrow and title services used in bank-owned (REO) property transactions, California's Assembly Bill 957 was approved and immediately implemented last month.
However, some real estate agents and brokers question the effectiveness of the bill, dubbed the Buyer's Choice Act.
"I don't know if it's going to make a difference," said Ralph Gorgoglione, a real estate agent with John Aaroe Group Inc. of Sherman Oaks.
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