Bad Faith
Definition of "Bad faith"
Intent to deceive or never to carry out the provisions of an agreement.
Popular Real Estate Terms
Hollow building block whose dimensions are 8 x 8 x 16. Concrete blocks are widely used in the construction of foundations and outer walls. They provide strength and durability. ...
An assurance a loan's financial obligation will be secured by a third party. ...
Law enacted by a local authority applicable to the action of people or things. An example is a fine of $5,000 for littering vacant real estate. ...
I am the person. The person himself/herself. The actual person. ...
Personal income minus personal income tax payments and other government deductions. It is the personal income available for people to spend or save; also called take-home pay. It may be a ...
Business entity providing water services in a particular locality. ...
See historic structure. ...
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Property owned and held jointly and equally shared by each spouse. It is purchased during their marriage, regardless of the wage-earning situation of either spouse. A spouse may not make a ...
Comments for Bad Faith
how do i find out if a realtor acted as a dual representative for the buyer and the seller.
Aug 13, 2023 11:28:16Hello 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.
Aug 14, 2023 04:58:17You 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.
Have a question or comment?
We're here to help.