Definition of "Good faith (goodwill)"

Joshua L. Cole real estate agent

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Joshua L. Coleelite badge icon

Venture Realty Group

In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the transaction, carried out in good faith, remains valid. Bad faith is when an individual knowingly commits fraud or deception rendering the transaction null and void.

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