10131.8.
(a) A real estate broker that offers underwriting on a commercial real estate transaction to his or her client shall offer either of the following:(1) A certified underwriting of the commercial real estate transaction.
(2) An uncertified underwriting of the commercial real estate transaction.
(b) A real estate broker that offers a client a certified underwriting of a commercial real estate transaction shall verify the accuracy, to the best of his or her ability, of all information and conclusions given to the real estate broker’s client regarding the commercial real estate transaction, including, but not limited to,
taxes, maintenance costs, and any association fees or dues.
(c) If a real estate broker fails to verify the accuracy of the information given to the client pursuant to subdivision (b), the client may file a cause of action against the real estate broker to recover his or her financial losses and the real estate broker shall be liable for those losses.
(d) For purposes of this section, “underwriting on a commercial real estate transaction” means any type of analysis provided by the real estate broker to his or her client regarding the client’s potential investment in the commercial real estate at issue in the transaction, regardless of whether the commercial real estate transaction is being secured by a loan.
(e) The remedy offered under this section is in addition to any other remedy available under the law.
(f) A violation of this section shall not be punishable as a crime pursuant to Section 10185.