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Massachusetts open house disclosure sign

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A sample dual agency consent is available at the Board s website at agency disclosure-exclusive agency5. Consequently a dual agent cannot satisfy fully the duties of loyalty full disclosure obedience to lawful instructions which is required of an exclusive seller or buyer agent. The dual agent does not represent either the buyer or the seller solely only your designated agent represents your interests. The written consent for designated agency must contain the information provided for in the re ...

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What is a Massachusetts mandatory real estate licensee consumer relationship disclosure?

The law requires that that you the consumer are to receive the form at your first personal meeting with a real estate agent. The form makes known to you if the real estate agent presenting the form is a seller's agent, a buyer's agent, or a facilitator. It's good to know the role of the agent to whom you are speaking.

Is a sellers disclosure required in Massachusetts?

By contrast, Massachusetts does not require sellers to provide a disclosure form or statement to potential buyers. If you work with a real estate broker or agent, he or she may ask you to complete a statement that will include a provision that indemnifies the broker or agent for any misstatements or errors on the form.

Do you need a buyers agent in Massachusetts?

You'll need to line up your buyer's agent before you start house-hunting, rather than looking at a house, meeting the agent who represents the seller, and authorizing that person (the "listing agent") to represent you in the same transaction.

Can a Realtor represent both buyer and seller in Massachusetts?

In Massachusetts Disclosed Dual Agency is legal, provided there exists full disclosure and written informed consent to the dual agency by both the Buyer and the Seller in a specific transaction. A Dual Agent has a duty of confidentiality and accounting to both parties.

What do you have to disclose when selling a house in Massachusetts?

Although a disclosure statement is not required, the state does mandate the disclosure of two types of information to any prospective buyer: the existence and hazards of lead paint, and the presence of a septic system on the property. Sellers in Massachusetts must disclose the presence of lead to prospective buyers.

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Is mass a buyer beware state?

Massachusetts is one of few states that still follows a legal rule known as caveat emptor, or "buyer beware." This basically mean there is not a lot you are legally required to disclose to the buyer when selling your property.

Is Minnesota a full disclosure state?

Minnesota law requires that all sellers of residential property disclose to prospective buyers all \u201cmaterial facts\u201d that could affect a buyer's use and enjoyment of the property. Minnesota law also requires that real estate salespeople disclose to buyers material information that they may know about the property.

Are property disclosures required in Massachusetts?

Massachusetts laws Sellers and brokers do not have to disclose to buyers or tenants the fact that a property is perceived to be tainted by the health of a previous occupant, a murder or suicide, or paranormal phenomena. However, they may not be deceitful in answers to questions about the property.

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What is a Massachusetts mandatory real estate licensee consumer relationship disclosure?

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Can a Realtor represent both buyer and seller in Massachusetts?

What do you have to disclose when selling a house in Massachusetts?

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