Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What does a Real Estate Agent (Selling Agent) do when an offer is made for the purchase of residential property?

April 26, 2017agent Offer Property purchase Real Estate Residential Selling

0

Posted

What does a Real Estate Agent (Selling Agent) do when an offer is made for the purchase of residential property?

1 Answer

0

Posted

A. The Agent is obliged to give to the Buyer a Selling Agent’s Disclosure to Buyer form a statement disclosing the relationship the Agent has with others to whom the Agent may refer the Buyer, and the benefits the Agent or anyone else will receive from the sale. Then the Agent will prepare a Sale Contract, the first page of which must be a prescribed form of Warning to the Buyer that obtaining independent legal advice or an independent valuation is strongly recommended, and that the Buyer has a 5 days cooling off period. The Sale Contract should accurately represent your offer.