I now have the contract of sale signed by me and the seller. Why do I still need to sign this form ? Why is he still bugging out ? Its so after the fact now that I feel he only needs this form back to cover his own *ss and there is absolutely no benefit to me siging it. Am I right ? (Please refer to my last question on this for a better understanding)
2007-01-17 04:20:30 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
That form was supposed to be explained and signed prior to having any offer made. I am sure he is in violation of some realtor code and you really need to speak with a lawyer about this situation. The point of dual agency is to disclose that his company may have a home that is listed with an agent in the same company. Say you want to make an offer on that particular home, this ensures that you were disclosed of this information. First off, do you know what real estate company the condo you made an offer on was? If it wasn't even the same company, the form really doesn't have any bearing on the sale. If the company is the same, there may be some realtor may be in violation of some code. You could also contact the broker about the situation.
2007-01-17 04:36:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well first of all a dual agency form is a document that lets the seller and buyer know that the agent doesnt exclusivley represent either party but is more like a Tranactional Broker Guide the transaction along. Here in massachusetts you can decline to sign the form if you want. which isnt a problem, becuase right on the bottom is says.. Party Refused To Sign....
2007-01-17 17:03:35 · answer #2 · answered by superplayer508 1 · 0⤊ 0⤋
The form is required by the state, and only serves as an aknowledgement that the fact your agent was acting as a dual agent was explained to you.
While it is nice to have all the paperwork signed, the world isn't going to come to an end if you don't sign it, and there is really no benefit to signing or not signing.
However, if you feel that the agent did a good job for you, maybe you can take a few moments and sign the form to put his mind at ease, and so he can quit pestering you about it.
2007-01-17 05:06:44 · answer #3 · answered by ramman 4 · 1⤊ 0⤋
Do you still want to buy the house? If so, then don't sweat it, the form is required by law or at least required by his office, but at this point you've already made a deal so it won't change that. Would it have changed anything about your offer? About the negotiation? Probably not. It just means he represents the homeseller as well as representing you--meaning owing you both loyalty, accountability, confidentiality etc.
2007-01-17 06:50:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
He is bugging you because if you sign the Dual Agency Disclosure, that means that you acknowledge that he will be representing you as a buyer as well. He wants his commission off both sides!
2007-01-17 04:30:31 · answer #5 · answered by <3<3<3 2 · 0⤊ 1⤋
Because he suppoused to have made you sign it before hand. Also......he gets compensated as a dual agent rather than just seller's agent which means instead of making just 2-3% he may now make 4-6%.....
2007-01-17 05:08:40 · answer #6 · answered by boston857 5 · 0⤊ 1⤋
Twinks and Boston 857 are both wrong. It has nothing to do with his commission. It has to do with the state regulations. The others are right
2007-01-17 05:58:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It's not relevant to your agreement to buy, its relevant to his requirements as an agent. So yes, its to cover his *ss.
2007-01-17 04:36:43 · answer #8 · answered by Anonymous · 1⤊ 0⤋