Single Agency Agreement Florida

12 avril 2021 par  
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In a previous article we wrote, we looked at the different types of real estate agency relationships and how some of these relationships are beneficial to you. In this article, we want to get a little deeper into the relationship between unified agencies and, at home, the right time to reach such an agreement. Good morning, Sue, sorry. I just saw this. The client signs the disclosure. This shows that they have read it and that they understand their agent`s duties. Now, in Florida, there is no need to sign a disclosure if the agent acts as a transaction broker. It`s presumed by law. Although I think our statutes are very fair with respect to most real estate laws, I think the legislature has probably done the wrong thing. So many people come from other states, and even though they are already there, they do not read the statutes for fun. The potential buyer may consider his agent to be a single agent if he is not. I understand your concern, but I am not sure you fully understand the responsibilities of the trust.

Whether the agent is working as an agent or transaction agent in the first scenario you described, Prescience is not part of the duties of a single agent. It is the buyer`s duty to detect defects during the inspection period. There are many transactions for homes and condominiums that disintegrate during the inspection period (also called due diligence) and even further on the transaction. I just had one in which the seller (Fannie Mae) did not reveal that an oil tank had been removed and that propeller arrows had been placed under the foundations of a detached house to remove the contaminated soil. They had a report of 156, which we only received after more than 60 days in the transaction, and only after three general contractors and an inspector looked at the property and did not say a word about it. The fourth did. My buyer is making progress. It was repaired, but what if it wasn`t? What if the current seller was not aware of the oil tank that was installed there in 1965 and polluted the soil? If they don`t, they don`t have to tell you what they don`t know more than an agent. If it was discovered late in your transaction and the current seller would not get away with it… Well, there are all kinds of scenarios like this.

I give only one, but in your scenario, it is not the fault of the officer who is acting in both capacities — unless the officer knows that there was a problem in that community that answers your last question. Why should an agent withhold this information, knowing that the transaction will not take place? Not every agent I know wants to work in vain, which happens if an agreement fails for one reason or another. Exclusive Buyer Brokerage Contract – Transaction Agency (EBBA-6tb) So… No no. At the end of the day, I do not think that an agent without specific knowledge who answers your question in both capacities is responsible independently of the agency. However, a court may decide that the SHOULD agent has had this knowledge if it is known to all. In this case, a transaction agent is, does not absolve you of the responsibility to disclose essential facts, so I doubt that the agency relationship would make a difference with a court. In any case, it is a legal decision that would be made there. Also note that your choice of lender may influence whether your choice is qualified for financing.

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