Definition of "Bad faith"

Intent to deceive or never to carry out the provisions of an agreement.

Comments for Bad Faith

Felix Gallegos Felix Gallegos said:

how do i find out if a realtor acted as a dual representative for the buyer and the seller.

Aug 13, 2023  11:28:16

 
Real Estate Agent

Hello Felix! Thank you for reaching out to us!

If you're concerned about the potential dual agency, consulting a real estate attorney is a good idea. They can supply you with legal advice and help you understand potential conflicts of interest. Remember that regulations regarding dual agency can vary by state. Some states require disclosure of dual agency, while others might not. It's essential to understand the rules in your specific state. Also, you can follow these steps:

In some cases, the fact that a realtor acted as a dual agent may be disclosed in the listing agreement or purchase contract. Review these documents to see if there's any mention of dual agency.
You can ask the realtor directly about their role in the transaction. Realtors are required to disclose their agency relationships to clients. If they were a dual agent, they should be honest about it.
You can also search public property records to see if there's any indication of the agent's involvement in the transaction.
Suppose you're unable to determine the agent's role. In that case, you can contact the real estate brokerage that the agent is affiliated with. They may have records that indicate whether the agent acted as a dual agent in the transaction.

Aug 14, 2023  04:58:17
 
 
image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Document between two or more parties indicating a need to take or not take a previous action taking place. For example, a bank may commit to make a loan dependent on a satisfactory credit ...

The direction in which a community is growing. Directional growth is measured over time, and its path strongly influences current and future market values of those properties clearly in ...

The Exclusive Right to Sell Listing is a type of Listing where the Listing Broker/Agent wins his/her commission even if he/she wasn’t directly responsible for the sale.Let’s ...

Major city in a metropolitan area. ...

What does viz. mean? The meaning of viz. derives from the Latin word videlicet which is translated into English as namely, that is, which is, as follows. You may encounter it in legal ...

Claude in a contract, title, or mortgage that is subject to being annulled, repealed, or revoked upon the satisfaction of a claim or completion of a future event. ...

Gradual deterioration of land due to nature such as because of floods, hurricanes and storms. Gradual decline in the value of real estate because of poor market and economic conditions. ...

Adobe construction is one of the oldest types of construction that has been used in the Americas, ancient Egypt, and the Middle East to build long-lasting structures that can be seen even ...

A large enclosed shopping mall having several national and regional retails stores acting as anchor tenants. The enclosed floor area of regional shopping centers ranges between 250,000 ...

Popular Real Estate Questions