Real Estate Buyer Advisory

REAL ESTATE BUYER ADVISORY

This Buyer Advisory provides important information and cautions to prospective purchasers regarding typical risks, obligations, due diligence recommendations, and agency relationships in residential real estate transactions. It is not a purchase contract and does not create obligations to purchase. Receipt of this advisory does not waive any right to further investigation or inspection of the property.

Buyer and Agent Identification

Client Name:    Date of Receipt:

Property Identification

Agency Relationship and Representation

The buyer is advised to confirm the nature of representation in any transaction. Check the relationship that applies to this transaction and initial where indicated to confirm understanding and consent where required.

Agent represents Buyer (client relationship).    Initials:

Agent represents Seller (client relationship).    Initials:

Dual agency / limited dual agency (agent/broker may represent both parties with written consent).    If dual agency selected, Buyer consents:

Transaction broker / facilitator (no fiduciary client relationship).    Initials:

Agent Duties and Limitations

Unless otherwise provided by law or written agreement, an agent's duties to a client typically include: obedience (to lawful instructions), loyalty, disclosure of material facts, confidentiality of client information, accounting for funds, and the exercise of reasonable care and diligence. Buyer is advised that certain duties and confidentiality obligations differ if the agent represents the seller or acts as a transaction broker.

Broker and agent make no warranty regarding the physical condition, environmental condition, value, or fitness of the property for any particular purpose. Buyer should obtain independent inspections and consult appropriate professionals as described below.

Disclosures and Known Hazards

Sellers and listing agents may be required by law to disclose certain known material facts. Buyer should not assume that any absence of disclosed items means the property is free from defects.

Lead-based paint: Yes    No    Details (if any):

Mold / moisture concerns: Yes    No    Details:

Prior structural or water damage: Yes    No    Details:

Recommended Due Diligence

Buyers are strongly advised to obtain, at minimum: a general home inspection by a licensed inspector, pest inspection, verification of square footage and zoning, a review of title and recorded documents, verification of utility services, investigation of any homeowners' association documents and fees, and any specialized inspections (e.g., septic, roof, HVAC, environmental) appropriate to the property. Buyer should also secure financing approval and review closing costs and prorations prior to contract acceptance.

Recommended inspection period (number of days):    Suggested earnest money deposit: $

Title insurance: Buyer is advised to obtain an owner's title insurance policy and to carefully review any exceptions contained in the preliminary title report.

Homeowners' association or condominium documents: Buyer must request and review the association's governing documents, financial statements, and disclosure packet prior to contingency removal or closing. Failure to review such documents may result in unforeseen assessments, restrictions, or liabilities.

Financing and Appraisal Considerations

If a purchase is contingent upon financing or appraisal, the buyer should obtain pre-qualification and understand lender conditions, required documentation, timelines for loan approval, appraisal valuation risks, and the effect of appraisal deficiencies on negotiation and contract performance.

Limitations, Liability and Attorney Review

This advisory is informational only and does not replace inspections, legal advice, title review, or other professional consultations. Broker and agent do not guarantee accuracy of third-party reports or seller statements. Buyer may wish to consult an attorney before executing any binding contract.

Dispute resolution: Any dispute arising out of a subsequent purchase contract may be subject to arbitration or litigation depending on the terms of that contract. Buyer should review dispute resolution provisions in any contract negotiated for purchase.

Buyer Acknowledgment

By signing below, I acknowledge that I have received and read this Real Estate Buyer Advisory, that I have had an opportunity to ask questions, that I understand the recommendations contained herein, and that I will pursue independent inspections and professional advice as necessary.

Buyer Printed Name:

Additional Buyer / Co-Buyer Printed Name:

Buyer Contact Phone:    Buyer Email:

Governing Law and Entire Advisory

This advisory shall be governed by the laws applicable where the property is located. This document constitutes the complete Buyer Advisory provided to the buyer at the time of receipt and supersedes any prior oral advisories. Nothing in this advisory expands or limits rights or duties created by any separate purchase contract or statute.

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