I hope you'll find the information listed below useful.
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The SELLER'S AGENT represents the SELLER only, so the BUYER may be either unrepresented or represented by another agent. The SELLER'S AGENT is responsible for performing the following duties:
promoting the interests of the SELLER with the utmost good faith, loyalty, and fidelity
protecting the SELLER'S confidences, unless disclosure is required
presenting all offers in a timely manner
advising the SELLER to obtain expert advice
accounting for all money and property received
disclosing to the SELLER all adverse material facts about the BUYER that the agent knows
disclosing to the BUYER all adverse material facts actually known by the agent, including:
environmental hazards affecting the property that are required to be disclosed
the physical condition of the property
any materiel defects in the property or in the tittle to the property
any material limitation on the SELLER'S ability to complete the contract
The SELLER'S AGENT has no duty to:
conduct an independent inspection of the property for the benefit of the buyer
independently verify the accuracy or completeness of any statement by the SELLER or any qualified third party
The BUYER'S AGENT represents the BUYER only, so the SELLER may be either unrepresented or represented by another agent. The BUYER'S AGENT is responsible for performing the following duties:
promoting the interests of the BUYER with the utmost good faith, loyalty, and fidelity
protecting the BUYER'S confidences, unless disclosure is required
advising the BUYER to obtain expert advice
accounting for all money and property received
disclosing to the BUYER all adverse material facts that the agent knows
disclosing to the SELLER all adverse material facts actually known by the agent, including all material facts concerning the BUYER'S financing ability to perform the terms of the transaction.
The BUYER's AGENT has no duty to:
conduct an independent investigation of the Buyer's financial condition for the benefit of the SELLER
independently verify the accuracy or completeness of statements made by the BUYER or any qualified third party.
The TRANSACTION BROKER is not an agent for either party, so they do not advocate the interests of either party. The TRANSACTION BROKER is responsible for performing the following duties:
protecting the confidences of both parties including the following information:
the fact that a BUYER is willing to pay more
the fact that a SELLER is willing to accept less
factors that are motivating any party
the fact that a party will agree to different financing terms
any information or personal confidences about a party that might place the other party at an advantage
exercising reasonable skill and care
presenting all offers in a timely manner
advising the parties regarding the transaction
suggesting that the parties obtain expert advice
accounting for all money and property received
keeping the parties fully informed
assisting the parties in closing the transaction
disclosing to the BUYER all adverse material facts actually known by the Transaction Broker including:
environmental hazards affecting the property that are required to be disclosed
the physical condition of the property
any material defects in the property or in the title to the property
any material limitation on the SELLER'S ability to complete the contract
disclosing to the SELLER all adverse material facts actually shown by the Transaction Broker including all material facts concerning the BUYER'S financial ability to person the terms of the transaction
The Transaction Broker has no duty to:
conduct an independent inspection of the property for the benefit of any party
conduct an independent investigation of the BUYER'S financial condition
independently verify the accuracy or completeness of statements made by the SELLER BUYER or any qualified third party.
