Confidential Information Flashcards
Can you disclose information where the party is willing to pay more or except less than what is being offered?
No. It is confidential information
Can you disclose any party is willing to agree to financing terms that are different from those offered?
No. That information is confidential.
Can you disclose the motivating factors of any party?
No. That information is confidential
How is confidential information handled?
Information that is considered to be confidential shall not be disclosed by the broker without the consent of the party disclosing the information unless consent to disclosure is granted by the party, the disclosure is required by law, or where the information is made public by a source other than the broker.
What is real estate that is psychologically impacted?
1) Real estate where an occupant is or was infected with HIV or AIDS, or other medical disease that is highly unlikely to be transmitted through the occupancy of the dwelling.
2) A site of suicide, homicide, or other felony.
Do the facts of psychologically impacted real estate have to be disclosed?
No. These are not material facts that must be disclosed any transaction.
How do people get information on real estate that has been psychologically impacted?
Request for information can be made by the buyer in writing, submitted to his or her agent to be given to the seller’s agent, to be given to the seller.
What are the four general provisions?
1) statement of purpose
2) authority
3) title and construction
4) operational procedures
How many members are on the Contract Forms Committee?
11 members
A committee require to draft and revise real estate/lease contracts and any related addenda for standardization and use my real estate licensees.
Contract forms committee
How are the 11 members of the contract forms committee appointed?
Three members are appointed by the OREC
Three shall be appointed by the Oklahoma Bar Association
Five shall be appointed by the Oklahoma Association of realtors Inc.
