Seller's Disclosures
You should be aware of the following disclosures required by law:
- Law of Agency. As a seller, you will likely secure the service of a "Seller’s Agent" to work with you in the marketing and sale of property. A Seller’s Agent owes fiduciary responsibilities to the Seller and not to a buyer. Most buyer’s however will secure the service of a Buyer’s Agent who will assist and negotiate with the buyer’s best interests in mind. In some cases "Dual Agency" occurs when a Brokerage or Agent is contractually obligated to both a Buyer and a Seller in the same transaction.
- Contracts. Applicable laws and regulations do not fix most terms of real estate agency contracts. These terms, including the broker’s commission and the time period of the listing, are contractually set by negotiation between the parties.
- Zoning. An agreement of sale must state the zoning classification of the premises, except for single-family dwellings.