Mẹo về What is particular about the duty of confidentiality as its owed by transaction brokers? Chi Tiết
Bạn đang tìm kiếm từ khóa What is particular about the duty of confidentiality as its owed by transaction brokers? được Cập Nhật vào lúc : 2022-10-30 04:05:08 . Với phương châm chia sẻ Mẹo Hướng dẫn trong nội dung bài viết một cách Chi Tiết Mới Nhất. Nếu sau khi tìm hiểu thêm tài liệu vẫn ko hiểu thì hoàn toàn có thể lại Comments ở cuối bài để Ad lý giải và hướng dẫn lại nha.The Kansas Brokerage Relationships in Real Estate Transactions Act (referred to as BRRETA II) became effective on October 1, 1997. The following summary describes a seller's agent, a buyer's agent, and a transaction broker.
Nội dung chính Show- How many duties are owed in a no brokerage relationship in Florida?
- Which of the following is not a duty of a broker engaged by a buyer?
- What is a transaction broker example?
- How do nonresidential transactions differ from residential transactions with respect to the three authorized brokerage relationships available in Florida real estate?
SELLER'S AGENT
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:
- 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
The seller's agent has no duty to:
BUYER'S AGENT
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:
The buyer's agent has no duty to:
TRANSACTION BROKER
The transaction broker is not an
agent for either party, so the transaction broker does not advocate the interests of either party.
The transaction broker is responsible for performing the following duties:
- 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
The transaction broker protects the confidences of both parties.
If the transaction is the sale of one to four residential units or the sale of agricultural real estate, the following information shall not be disclosed by a transaction broker without the consent of all parties:
- that a buyer is willing to pay more than the purchase price offered for the property
- that a seller is willing to accept less than the asking price for the property
- what the motivating factors are for any party buying or selling the property
- that a seller or buyer will agree to financing terms other than those offered; or
- any information or personal confidences about a party to the transaction which might place the other party an advantage over the party unless the disclosure is required by law or failure to disclose such information would constitute fraudulent misrepresentation.
If the transaction is the sale or lease of commercial property or residential property of more than four units, the transaction broker shall not disclose any information or personal confidences about a party to the transaction which might place the other party an advantage unless failure to disclose such information would constitute fraudulent misrepresentation. The transaction broker may disclose the following information unless prohibited by the parties:
- that a buyer or tenant is willing to pay more than the purchase price or lease rate offered for the property
- that a seller or landlord is willing to accept less than the asking price or lease rate for the property
- what the motivating factors are for any party buying, selling or leasing the property; or
- that a seller, buyer, landlord or tenant will agree to financing terms other than those offered.
The transaction broker has no duty to:
STATEMENT OF REPRESENTATION
Do not assume that an agent is acting on your behalf, unless you have signed a contract with the agent's firm to represent you. If you have not entered into a written agency agreement, you are considered to be a customer rather than a client. As a customer, you represent yourself. Any information that you, the customer, disclose to the agent representing another party will be disclosed to that other party. Even though licensees may be representing other parties, they are obligated to treat you honestly, give you accurate information, and disclose all known adverse material facts.