Information For Buyers and Sellers
 

Accredited Buyer's Representation - Part of a select group qualified by the National Association of Realtors as Accredited Buyer's Representatives (ABR), Jim and Penny are proficient in finding the perfect property for their clients at the right price. They are cognizant of the fiduciary responsibilities involved in this relationship and dedicated to providing their best skill, care and diligence to the transaction. This representation is at no cost to you. You really can't afford not to use our expertise!

What You Should Know As a Buyer:

• Brokerage Relationship Disclosure
• Single Agent Notice
• Transaction Broker Notice
• Consent to transition to transaction Broker

BROKERAGE RELATIONSHIP DISCLOSURE
FLORIDA ASSOCIATION OF REALTORS

IMPORTANT NOTICE

FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES PROVIDE THIS NOTICE TO POTENTIAL SELLERS AND BUYERS OF REAL ESTATE.

You should not assume that any real estate broker or sales person represents you unless you agree to engage a real estate licensee in an authorized brokerage relationship, either as a single agent or as a transaction broker. You are advised not to disclose any information you want to be held in confidence until you make a decision on representation.

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SINGLE AGENT NOTICE

FLORIDA LAW REQUIRES THAT ESTATE LICENSEES OPERATING AS SINGLE AGENTS DISCLOSE TO BUYERS AND SELLERS THEIR DUTIES

• Dealing honestly and fairly

• Loyalty

• Confidentiality

• Full disclosure

• Accounting for all funds

• Skill, care, and diligence in the transaction

• Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing

• Disclosing all known facts that materially affect the value of residential real property and are not readily observable

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TRANSACTION BROKER NOTICE

FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATION AS TRANSACTION BROKERS DISCLOSE TO BUYERS AND SELLERS THEIR ROLE AND DUTIES IN PROVIDING A LIMITED FORM OF REPRESENTATION.

• Dealing honestly and fairly

• Accounting for all funds

• Using skill, care and diligence in the transaction

• Disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer

• Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing

• Limited confidentiality, unless waived in writing y a party. This limited confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential

• Any additional duties that are entered into by this or by separate written agreement

Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parities are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parities.

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CONSENT TO TRANSITION TO TRANSACTION BROKER

FLORIDA LAW ALLOWS REAL ESTATE LICENSEES WHO REPRESENT A BUYER OR SELLER AS A SINGLE AGENT TO CHANGE FROM A SINGLE AGENT RELATIONSHIP TO A TRANSACTION BROKERAGE RELATIONSHIP IN ORDER FOR THE LICENSEE TO ASSIST BOTH PARTIES IN A REAL ESTATE TRANSACTION BY PROVIDING A LIMITED FORM OF REPRESENTATION TO BOTH THE BUYER AND THE SELLER. THIS CHANGE IN RELATIONSHIP CANNOT OCCUR WITHOUT YOUR PRIOR WRITTEN CONSENT.

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Titles >Ways to Hold Title When two or more people purchase property together, there are three ways that the title can be held. Knowing the implications of each form of ownership will help you decide how to write your deed. "Tenancy by the entireties" is reserved exclusively for married people. Both husband and wife own an undivided interest in the property. On the death of one party, the surviving spouse owns the entire property and no probate will be necessary. When unmarried persons buy a home together, they should seek legal advice regarding how title should be held. As "tenants in common" each party owns a percentage interest in the property. On the death of one party his or her interest does not go to the surviving owner but is distributed in accordance with the will of the deceased, whose estate must be probated. As "joint tenants" each party owns an undivided, equal interest that passes automatically to the surviving joint tenant. Probate is not necessary if the deed reads "joint tenants with rights of survivorship". It is important to know that in most courts, if a deed is written without specification of how title is held, the property is titled as "tenants in common." See All Tips In The "Titles" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Where is the world's largest bridge located? A  Lake Pontchartrain Causeway at New Orleans, Louisiana is the world's largest bridge. It is almost 24 miles long. See More Real Estate Trivia >