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

Increase in the value of property. The appreciation may arise for many possible reasons, such as inflation, construction of higher priced homes in the neighborhood, tax incentives, and ...

Partner in a real estate business who remains anonymous but has legal rights and obligations. ...

Legal suit in which the plaintiff sues the defendant for some reason. A counterclaim of litigation is to exercise one's legal rights. There are many causes for litigation including damages ...

Combined action of two or more people either for or against something. In real estate, used to indicate a common property ownership interest. Joint is also used to indicate a shared ...

Right to select something or perform some act. An example is a renter of property that is given the option to buy the home at the end of the rental period or to renew the lease. Not ...

An attached dwelling in a multiple housing complex having at least two floors and usually a garage. Such dwellings are typically found in condominiums and cooperatives. ...

The yield after deduction inflation and its effects. It is the return on investment stated in real purchasing power. ...

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 ...

Imagine someone asking you about the definition of the real estate market. At first sight, it may seem like an easy answer. But wait! Could the real estate market meaning be more complex ...

Popular Real Estate Questions