Prior to showing property, a selling licensee is required to provide all customers with the following information:
General Agency Disclosure Information
The purchase and sale of real estate may involve one or more real estate licensees. Since a licensee may be the agent of the buyer, or a seller, or both, it is very important to understand whose interests are represented by each agent. Buyers and sellers should not assume that an agent is acting on their behalf unless they have contracted with that licensee to represent them.
Seller Agency Duties - Sellers may list their properties for sale with a real estate agent. A seller's agent has the duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and accounting and a duty to represent the seller's interests in the sale of the property; this generally means a duty to market the property to find a buyer willing to pay the highest price on the most advantageous terms as quickly as possible. The seller's agent also has a duty to disclose to the seller any material information including information received from the buyer or from any other source. The seller's agent can assist a buyer in locating a property, preparing a contract or obtaining financing. Seller's agents are required by law to present properties honestly and accurately.
Buyer Agency Duties - Buyers may hire a real estate agent to represent their interests in the purchase of real estate. This means that their agent has the duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and accounting and a duty to use his or her expertise to help the buyer find suitable property and to acquire it at the most advantageous price and on terms suitable to the buyer. A buyer's agent also has a duty to disclose to the buyer any material information acquired from the seller or from any other source. A buyer's agent has a duty to the seller to present information accurately and to be honest.
Disclosed Dual Agency Duties - A real estate licensee may represent both the buyer and seller in the same transaction, but only with the informed consent of both the buyer and seller. Because the buyer's and seller's interests are adverse to one another, a disclosed dual agent may not disclose confidential information regarding the:
1. willingness of the seller to accept less than the asking price;
2. willingness of the buyer to pay more than what has been offered;
3. confidential negotiating strategy not disclosed in the sales contract as terms of the sale; or
4. motivation of the seller for selling nor the motivation of the buyer for buying.
Buyers and Sellers Responsibility - By providing information on agency relationships, this form is designed top assist buyers and sellers of real estate in understanding how the real estate brokerage industry functions. Regardless of the agency relationship, if any, which a buyer or seller may form with an agent, they have a responsibility to protect their own interests.
Advice to Buyers and Sellers - Buyers and sellers who choose to have an agent represent them should enter into a written contract that clearly establishes both their obligations as well as those of the agent; the contract should set out how and by whom the agent will be paid. (An agent does not necessarily represent the interests of the person who pays the fee.) Any questions concerning agency relationships should be resolved before singing a contract with an agent.
Seller Agency Disclosure Statements
All Dunton Commercial Properties' brokers/salespersons represent the SELLER, not the Buyer, in the marketing, negotiating and sale of the business or property, unless otherwise disclosed in writing; and, therefore, legally represent only the interests of the SELLER.
The broker/salesperson does have an obligation, however, to show reasonable care and skill; honest and fair dealing; and disclosure of known facts to the Buyer in all transactions.
However Buyer should rely on experts of his/her choosing to examine all buildings; all systems including water, septic, plumbing, electrical and smoke detection; equipment; and to make any environmental assessments that Buyer or his experts feel are necessary. In addition, Buyer and/or his experts should also determine to Buyer's satisfaction, all state and local regulations regarding campgrounds, including but not limited to operations, systems, and expansion.
Failure to inspect buildings, systems, soils and regulations is a waiver of any claim pertaining thereto.
This office does business in accordance with the Federal Fair Housing Law Equal Housing Opportunity.