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

Siding made out of aluminum, plastic derivates, or cement asbestos having ridges and valleys which is attached to the sides of buildings. ...

Heterogeneous (as opposed to homogenous) means diverse in nature applied to a place or object composed of separate and distinct parts. In other words, heterogeneous describes something that ...

Expecting or looking forward to something happening. ...

An assurance a loan's financial obligation will be secured by a third party. ...

Concrete with steel rods inserted into it to provide additional working load support. The premise is that both materials will act together in resisting loan stress. ...

Similar property. Comparing like property. properties that are side by side but do not meet. They are in the same direction with a constant distance. ...

Market where mortgage loans can be sold to investors. The availability of funds for financing real estate is affected by economic conditions, both local and national. The result is that at ...

The term accusation refers to a declaration made by an individual about another individual or entity having behaved in an immoral, improper, or wrong manner. The two parts of an accusation ...

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. ...

Popular Real Estate Questions