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

Administrator of estate is a term used in common-law jurisdiction for a person assigned a particular responsibility. The administrator of estate definition describes a court-appointed ...

Linear measurement of property abutting a road or water body acting as a boundary market. ...

A partition or wall that provides no support to the structure in which it is located. For example, a nonbearing partition or wall does not support any floors above it. A partition which ...

How many days, months, or years are required before a new building has the desired occupancy ratio. The occupancy rate influences the amount financial institutions are willing to lend. ...

An inlaid stone or wood flooring arranged in tightly fitting geometrical patterns. It is decorative and often more than one color. ...

report containing financial information about a business or individual. The required financial statements for a real estate company are balance sheet, income statement, and statement of ...

Unglazed and natural clay or shale machine extruded into ceramic tile. Quarry tile is often used for factory flooring. ...

Mortgage where the lender pays a borrower a fixed monthly payment based on the value of the property. It allows the borrower to receive monthly receipts against the equity in his or her ...

Money set aside to buy new assets when the older ones are no longer appropriate for the intended use. An example is when the landlord must replace a deteriorating and malfunctioning air ...

Popular Real Estate Questions