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

Legal abbreviation meaning with husband. ...

Building a structure in such a way as to reduce the process of destruction in the event of fire. Fire-resistant materials are used. ...

Highly subjective term, usually an expression of monetary worth applied to a particular piece of real estate property. ...

Work required as a court judgment because of a crime committed. ...

Room containing a toilet and wash basin, but does not include a shower or bath tub. ...

Buying real property subject to risk. For the high risk undertaken, the expected return is higher. The investor may lose all of part of the initial investment. ...

The part of the amount received from selling or exchanging real property that is taxable income. ...

Association of the owners of all condominium units in a building that is concerned with managing day-to-day matters in the building complex, including the surrounding and enforcing ...

You can often bump into the question of what is lot and block in real estate before selling or purchasing a piece of land. This entry will shed light on the lot and block ...

Popular Real Estate Questions