Sentences with phrase «as the seller disclosure»

State associations may also recommend the use of forms and procedures not required by state law, such as seller disclosure statements, recognizing that they are a valuable protection for buyers, sellers, and salespeople.

Documents such as the seller disclosure statement are not covered by Article 9 of the Code.

Not exact matches

In California, for example, the disclosure must identify the dollar amount of the payments being sold, the present value of those payments based on a federally established interest rate, the amount being paid to the seller, and the interest rate calculated as if the transfer were a loan and not a sale of the payment rights.

Unlike some states, such as Massachusetts that doesn't require disclosures by law, Oregon requires sellers to fill out and deliver a disclosure to each buyer who makes a written offer to purchase the property.

* Read everything single piece of information provided by the seller and strata; AGMs, strata minutes, property disclosure statement, Form B as well as the depreciation and engineers report if available.

The HUD - 1 Settlement Statement (a form that itemizes all charges for a borrower and seller as part of a real estate transaction) and Truth in Lending disclosure (a document disclosing the APR details intended to provide a sense of the true loan cost) have been replaced with a single Closing Disclosure.

When the property was listed in 1991, the sellers filled out a seller disclosure statement, known in California as a transfer disclosure statement (TDS).

There isn't really any mention of Registrant / REALTOR representation — beyond the fact that the listing Registrant / REALTOR is supposed to have advised the Seller to amend the SPIS (after the failed transaction) to include mention of the landfill site, but the amended text for same (as displayed in the CanLII summary) was challenged by the presiding judge — which, should call into question if the listing REALTOR was aware of how the Seller had worded the revised disclosure.

The instant we guide a seller as to the choice of box to check or frame their written answer, we've taken the lead in their disclosure position and made it our own.

As a result of its promotion by the Ontario Real Estate Association (OREA) and its sister groups across the country, property disclosure forms like Ontario's Seller Property Information Statement (SPIS) continue to be a source of never - ending business for the litigation bar, and endless grief for unlucky buyers and sellers who are being swept into the bottomless pit of lawsuits because they used it.

PED: regarding your comment below «The instant we guide a seller as to the choice of box to check or frame their written answer, we've taken the lead in their disclosure position and made it our own» - any Realtor that is doing this needs to go through re-training

Any disclosures my sellers or my brokerage as their agent have been by law required to make were made in writing outside of the SPIS — not a drop more.

A real estate licensee serving as a transaction broker has two duties under the state's property condition disclosure law: to make available to the purchaser the seller's disclosure statement and to disclose any defects known to the licensee that are not contained in the disclosure statement.

Provide this disclosure when you begin representing the buyers or sellers or as soon as you agree to pay the fee.

Regardless of how brilliantly the Realtor makes his disclosures, the client does not give his «informed consent» to Designated Agency until such time as when Realtors inform their future principals (sellers and buyers) that they — even if innocent — will become «vicariously liable» for the Realtor's misconduct and neglects committed in the course of the principal's business, even though only committed for the agent's benefit (the earning of a commission).

So the next time you are representing a buyer who are using conditions to protect themselves in the offer, I implore you to provide the buyer with full disclosure as to the possible risks that they may be taking if the seller refuses to sign a mutual release of the deposit or maybe you might just consider using my clause to ensure they get their deposit back in case the conditions are not met!

As an aside, the SPIS assists home sellers in identifying what their disclosure obligations are by asking various questions about various aspects of the property.

Which Realtor would dare to attempt that sort of disclosure without worrying that the seller would refuse to do business as a result of this revelation?

He then claimed to have asked the Real Estate Council of B.C. about disclosure and indicated their response implied «that it's only the «EXTRA» income beyond our contracted fee with our seller that we must declare — not as you just put it in your article, and what we were first led to believe, that all fees are to be declared to everyone.

The «evidence» supported by over 500,000 MLS posted listings yearly by Professional Agents in Canada, is that the home seller needs a professional agent to act as an intermediary when considering the comments and advice of others who have NO LEGAL requirement to communicate all the facts to them or make appropriate disclosures to them.

Private sellers for the most part have little understanding of the complexities or disclosures involved and very easily could find themselves discussing their position with their lawyer as things heat up.

Both advertisements for the property and the purchase agreement stated that the property was available «as is, no seller disclosure».

Aside from inspections, any SPIS or lack thereof, we as REALTORS are the first line of defense to both our seller and buyer clients as far as disclosure is concerned.

To help address solar panel financing issues, some states and state REALTOR ® associations have begun adding questions to their property condition disclosure forms to require sellers to disclose the presence of solar panels as well as other information, such as liens on the property or whether the panels were financed through a PACE - type program.

This was an inexcusable omission on my part since, as an attorney who has worked with property buyers, sellers, and agents on hundreds of matters, I know how important it is to review such disclosures carefully.

Since laws regarding disclosures vary from state to state, for the most part, you as the seller are responsible even after a closing if something has been hidden or unreported to the buyer.

What Realtor would dare to attempt that sort of disclosure without worrying that the seller would refuse to do business as a result of this revelation?

We shouldn't expect a Seller Customer to be properly able to manage their disclosures after receiving «Agency Disclosure» — particularly when, the ensuing discussion includes a full discussion as to the homes market value!

Some states, such as Texas, mandate disclosure forms in which sellers have to reveal any issues or problems with the house, says James Foltz, who recently bought a home there.

This includes seller's disclosures, toxic substances (asbestos, lead, mold, etc.), building permits, tenants rights, as well as condo and subdivision documents.

FYI: Since 1991, NAR has encouraged mandatory seller disclosure laws, recommending 13 components for such laws to inform buyers of the condition of properties for sale as well as to protect REALTORS ® in providing such information from sellers to buyers.

With appropriate disclosure to your current seller client, and with his permission, and after making appropriate disclosures to your former client, you may be able to deal with your former client as an unrepresented buyer.

The disclosure must include how the commission will be shared, if at all, and inform the seller of any other remuneration the licensee will receive or expects to receive as a result of the trade.

A Connecticut seller's disclosure covers general information such as age of the home, whether the property is in a flood hazard area, home issues such as rot or termites and more.

Home is being Sold - as - is however sellers disclosure provided.

Therefore I am opposed to the idea of eliminating dual agency, as long as there is full disclosure and written consent from the buyer and seller.

Both Horiike's agent and the listing agent worked for Coldwell Banker, so the brokerage was the dual agent of the buyer and seller, as confirmed in the disclosure forms Horiike signed.

84 DOS 99 Matter of DOS v. Woodland - failure to appear at hearing; jurisdiction; mortgage applications; failure to pay judgment; ex parte hearing may proceeding upon proof of proper service; DOS has jurisdiction over respondents for acts of misconduct which occurred during licensure even though the licenses expired on their own terms; DOS fails its burden of proof to establish broker failed to obtain signature on agency disclosure form; DOS fails its burden of proof to establish that a broker has an obligation to «pre-qualify» a potential purchaser; broker breached duty to deal honestly with the public when advised purchaser he would assist in obtaining financing and failed to do so; DOS fails its burden of proof that broker wrongfully failed to hold a $ 500.00 deposit in escrow as deposit was remitted to seller with the permission of buyer; failure to pay judgment without a showing that broker is unable to do so is a demonstration of untrustworthiness; no action to be taken for reapplication for broker's license until payment of $ 1,000.00 fine and proof of satisfaction of judgment

Typically, these properties are purchased without a seller's disclosure statement and are sold «As - Is».

185 DOS 05 DOS v. Britt - disclosure of conditions affecting the value or desirability of listed premises; DOS fails its burden of proof; res judicata; judgment rendered in civil court between buyer and seller is not controlling in administrative proceeding against licensee where DOS and licensee were not parties in the civil suit and professional conduct of the licensee was not litigated; duty of disclosure to a buyer by a seller's agent is derivative; seller's agent must make the same disclosure to a buyer that the law requires a seller to make; disclosure by seller's agent to buyer's agent of the condition of the property as known by seller's agent was timely, proper and essentially a disclosure to buyer of that information; DOS has failed to prove by substantial evidence its allegation that basement flooding was a common occurrence or that broker was fully aware that homes in the neighborhood where the property is located encountered frequent flooding; complaint dismissed

This purpose is partially accomplished by requiring a seller of property «to deliver or cause to be delivered to the purchaser of such property, «8 as occurred in this case, «a written property condition disclosure statement... which shall include the information set forth in [833 (B)-RSB-.»

(This despite the fact that the seller did not provide a general inspection report as part of the disclosures.)

1] § 17 - 530 (d)(1)(v) Establishes that «An intra-company agent representing the seller or buyer may provide the same services to the client as an exclusive agent for the sell or buyer, including advising the clients to price and negotiations strategy, provided that the intra-company agent has made the appropriate disclosure to the client and the client has consented, as required by this section, to dual agency representation.»

A disclosure is a legal document that a seller is required to sign when listing their home for the purpose of disclosing any major physical defects in the house that they are aware of, as well as the presence of lead - based paint, radon, or other potentially hazardous materials, conditions, or contaminants.

As 2015 rolls in, Providence Group Realty is rethinking listing disclosures and safety recommendations for Seller clients.

As - is — Refers to a transaction where the property is transferred to the buyer in its current state, without any requirements for additional disclosures or any recourse available for the buyer against the seller.

73 DOS 95 Matter of DOS v. Marotta - consolidation of actions; dual agency; disgorgement of broker commission; broker may act concurrently in a single transaction as an agent and a principal with informed consent of and full disclosure to principal; broker's agreement breached by broker where broker obtained property incompatible with client's stated needs; no broker's fee earned where brokerage agreement breached by broker; broker engaging in business under trade name acts as individual; agency created between broker and buyer by conduct of parties; dual agency allowed upon full disclosure and informed consent of both buyer and seller; no commission earned by broker where breach of fiduciary duty; refund unearned commissions

Homebuyers enjoy certain protections under the North Carolina's Residential Property Disclosure Act law, such as required seller disclosures.

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

A quick Google search that took about 15 seconds, shows, it's Not an a exempt / commercial transaction... but, the first paragraph of the disclosure states the law that a seller may elect to provide a «residential property Disclaimer statement» stating the property is sold as is, with no disclosures provided, or they may provide the standard «residential property Disclosure statement».