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An offer of compensation is when youthe selleror your agent compensate another agent for bringing a buyer to successfully close the transaction. Offers of compensation help reduce out-of-pocket costs for prospective buyers, which in turn may bring more potential buyers for the transaction.
What does seller addendum mean?
Addendums are in frequent use within the real estate market. As a potential home buyer and seller negotiate an agreement, often referred to as the purchase and sale agreement, addendums provide information regarding issues and items not contained in the original draft.
What is the seller compensation addendum?
A Seller Compensation Addendum (SCA) that is part of the transaction and is an agreement for the seller to pay the buyers broker directly through escrow, thisis NOT broker to broker bur seller to buyers broker.
What is the unrepresented seller disclosure and fee agreement?
The purpose of the Unrepresented Seller Disclosure and Fee Agreement is to formalize the sellers intent to sell their property without agent representation. This document clarifies the fee structure and obligations of both parties involved.
Can a seller cancel a listing agreement in Arizona?
Listing agreements are usually cancelled only with the mutual consent of the involved parties. Depending on the terms of the agreement, a Broker may be not required to cancel the listing at the owners request. The listing agreement may obligate the consumer monetarily after cancellation.
What legal duties does the seller agent owe to an unrepresented buyer?
What are the lawful duties owed to an unrepresented buyer by a sellers agent? fair and honest dealing and disclosure of material facts about the property The legal duties owed by the sellers agent are fair and honest dealing and disclosure of material facts. Loyalty and fidelity would imply an agency relationship.
What is the purpose of the seller financing addendum?
The Addendum serves as a disclosure document, and provides details regarding the interest rate, payment schedule, and maturity date. The Escrow Holder will prepare standardized forms of Note and Deed of Trust if the terms are simple.
Related links
The Transfer of Real Estate by Sale
During this process, the buyer and seller enter into a series of contracts with each other and with third parties such as brokers, lenders, and insurance
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