Tuesday, August 7, 2012

Buyer's and Seller's ask me about agency disclosure | Armonk NY ...

terms acceptable to the seller. A seller?s agent has, without limitation, the following fiduciary duties to the seller:?
reasonable care, undivided loyalty, confidentiality, full?
disclosure, obedience and duty to account. A seller?s?
agent does not represent the interests of the buyer. The?
obligations of a seller?s agent are also subject to any specific provisions set forth in an agreement between the?
agent and the seller. In dealings with the buyer, a seller?s?
agent should (a) exercise reasonable skill and care in performance of the agent?s duties; (b) deal honestly, fairly?
and in good faith; and (c) disclose all facts known to the?
agent materially affecting the value or desirability of?
property, except as otherwise provided by law.

Buyer?s Agent A buyer?s agent is an agent who is engaged by a buyer to? represent the buyer?s interests. The buyer?s agent does? this by negotiating the purchase of a home at a price and? on terms acceptable to the buyer. A buyer?s agent has,? without limitation, the following fiduciary duties to the? buyer: reasonable care, undivided loyalty, confidentiality,? full disclosure, obedience and duty to account. A buyer?s? agent does not represent the interest of the seller. The obligations of a buyer?s agent are also subject to any specific provisions set forth in an agreement between the agent? and the buyer. In dealings with the seller, a buyer?s agent? should (a) exercise reasonable skill and care in performance of the agent?s duties; (b) deal honestly, fairly and? in good faith; and (c) disclose all facts known to the agent? materially affecting the buyer?s ability and/or willingness? to perform a contract to acquire seller?s property that are? not inconsistent with the agent?s fiduciary duties to the?

buyer.

Source: http://www.robertpaulsells.com/blog/buyers-and-sellers-ask-me-about-agency-disclosure-armonk-ny-homes/

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