Utah Residential Real Estate Sales Disclosure Statement Form
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FAQs residential disclosure form
How come real estate sales went from their older forms to the organized profession it is now?It's different from every country, but the main denominator is money.To make more money, the old forms for selling had to be organized.Real estate involves huge sums of money for all parties included in a particular transaction. From the main players (buyers, seller, brokers, agents) to the support players (mortgage firms, construction companies, pest control, maintenance, etc) down to the government agencies (taxes bureaus, local permits, etc).The old ways of selling had to be organized to realize more profit, keep the transaction secure and make the tax man happy.Listings and documentations had to be digitalised, real estate brokers and agents had to be professionalized and all financial transactions tracked and monitored.Anything that makes money in this world would always be organized (whether it be through laissez faire or its opposite, these things will organize themselves in one form or another). That's how things work.
Where do residential real estate companies get their forms from (i.e., offer to purchase, addendum, counters, etc.)? How often are they updated?Most states have standardized forms to simplify this for all parties to a residential transaction. Keep in mind that commercial transactions are a lot more cavalier. As it is assumed that someone purchasing commercial property is somewhat savvy, the government does not aim to regulate and “protect” these individuals as heavily. Florida has the Florida Real Estate Commission (FREC), which governs real estate brokerage activity and provides guidance on best practices. Most states have something comparable that puts together these forms you reference.
Is my real estate agent being honest? He said he has to pay $100 to Zillow each time someone fills out the contact listing agent form on my house. True?Not to my knowledge. In my area, the way Zillow works is it pulls listings from the MLS (multiple listing service) unless I check a box that says the seller prohibits this. So it’s no more work for me to list your property on Zillow than in the MLS. Zillow sells real estate agents “leads” (queries about specific properties) or (in a new program) takes a % of the brokerage fee after a property has closed. Contacting agents online is free to both parties.
How do you build up an organisation model for any business? I have task to work on organisation model for these businesses: Hotel, restaurant, Golf field, Resort, ICD, residential real estate (landonly), apartment for sales, commercial landonly.I would start my research of known corporations that are large in the field. You can do this on the Internet.Look at the management teams listed. Read about them. If they are public corporations look at their finance reports 10k on Yahoo Finance, or similar. I would look at 3 different entities per category as a start.Start the deductive reasoning process, thinking of the models, business size, customer targets etc. compared to your envisioned entities and design organizational charts based on those that you believe you'll need.This process is part of a new business plan, and all business plans are dynamic, not static, in the real world. As market conditions change so does the business plan and the components that make up the plan….that includes the organization.
What should be legally stated on the real estate action sales form concerning a home that has been rented out for 6 months? Is that considered to have a chesty applied when selling this home?What? Real estate action sales form? Chesty? What are you even asking in this question? These terms make no sense in relation to selling real estate.
If you work for yourself doing government contracts and American Express asks for you to show them a current pay stub, how would you provide that? Is there a form that has an earnings statement that you can fill out yourself?It seems to me you should just ask American Express if they have form you can fill out. It seems odd they would want to see an earnings statement, but if you need to show some sort of proof of income, typically in the absence of a pay stub, your most recently-filed tax return should suffice.I'd really ask them first before automatically sending them your tax returns though.