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REAL ESTATE BROKERAGE SERVICES DISCLOSURE Form
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People also ask
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What should a buyer's broker disclose to the seller?
Real estate professionals that represent buyers must find out from their clients any known hazards or defects on the property and other factors that could affect the sale. They should then disclose these defects to the seller's representative. -
What must brokers disclose to customers?
The broker must disclose important facts relating to possible investments and trades and should not make any misrepresentations; A brokerage firm has a duty to supervise the brokers who work for it. -
Which of the following are among the responsibilities of a transaction broker?
The transaction broker is responsible for performing the following duties: exercising reasonable skill and care. presenting all offers in a timely manner. advising the parties regarding the transaction. suggesting that the parties obtain expert advice. accounting for all money and property received. -
When providing brokerage services which of the following duties does an Oklahoma licensee owe only to parties for whom the licensee performs brokerage duties?
When providing brokerage services, which of the following duties does an Oklahoma licensee owe only to parties for whom the licensee performs brokerage duties? Notify parties of transaction costs and their amounts in writing. -
At what point must an Oklahoma broker disclose his brokerage relationship to a party?
A Broker who provides Brokerage Services to one or both parties shall describe and disclose in writing the Broker's duties and responsibilities prior to the party or parties signing a contract to sell, purchase, option, or exchange real estate. -
When a broker is providing brokerage services what must the parties do?
Either a broker or a firm may provide services to one or both parties in a transaction. B. When a broker provides brokerage services to a buyer, her or she must describe and disclose in writing the broker's duties and responsibilities owed to each of the parties. -
What is a broker obligation?
A buying broker is required to truly and correctly account to its principal in ance with § 46.2(y)(3). The broker should advise the appropriate party promptly when any notice of rejection or bsignNow is received, or of any other unforeseen development of which it is informed. -
Is a broker legally obligated to disclose that a property?
Brokers are required to disclose odors, smoke, noises, and other nuisances from industrial, commercial, or military sources that may affect the property occupants. The broker may also require the disclosure of nearby farm operations, landfills, shooting ranges, airports, and other similar nuisances.
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