Disclosure

Question 1

*Disclosure regarding Real Estate agency relationship
*Seller’s agent:
*Diligent exercise of reasonable skill and care
*a duty to be honest
* a duty to disclose all facts
Buyer’s agent- same
Agent representing both buyer and seller- can with both the Seller and buyer knowledge

Answer 1

Seller and buyer responsibilities. The purchase agreement or a separate document will contain a confirmation of which agent is representing you and whether that agent is representing you exclusively.
Throughout your real estate transaction you may receive more than one disclosure form, depending upon number of agents assisting transaction.

Question 2

FAIR HOUSING AND DISCRIMINATION ADVISORY

• equal access to housing for all
• federal and state law prohibit discrimination against identified protected classes
• race, sex, ancestry, religion, sexual orientation etc

Answer 2

examples:
asking for buyer personal information prior to acceptance, letters especially those with pictures
* steering,or channeling a prospective buyer from and area, or panic selling blockbusting by inducing alisting ,sale or rental based on loss of value

Question 3

RPA CONTINUE
3. Finance-
a. we can not tell clients what to put down for deposit. You ask them what they feel comfortable putting down. needs be some consideration.-ADVISE
They have three days to deposit on acceptance of offer.
b. increase deposit- may add it they want
c. cash-all cash- written verification of sufficient funds

Answer 3

D. loans
1. fisrt loan in amount of______
What type of loan(assumes conventional), or FHA, VA,etc add fixed rate 2.9% and that buyer will not pay points to exceed 1.000%
2. second loan in the amount________conventional or seller financing (C.A.R FROM SFA) other________
3. FHA/VA buyer has 17 days after acceptance to deliver seller written notice of any ender-required repairs
seller has no obligation to pay or satisfied lender requirements unless agreed to in writing

Question 4

E additional financing terms- add seller agrees to credit buyer 3% recurring and nonrecurring cost
f. balance of down payment___________
G. Purchase price total.______
H. verification of down payment.
I Appraisal contingency and removal , Will remove within 17 days or __ days after acceptance

Answer 4

J. 1. loan applications-Buyer shall deliver to seller a letter

2. loan contingency -buyer shall act diligently and in good faith to obtain loan
3. loan contingency removal day 21 or__ after acceptance
4. No loan contingency- obtaining any loan above is NOT contingent . if buyer doesn’t purchase, seller may be entitled to buyers deposit