Making Your Next Move, Your Best Move!
Real Estate with Nina Brown
Our Roles
In The Home Buying Process
Understanding Your Role & Responsibilities In The Home Buying Process
As a home buyer, you have an obligation to act in Good Faith, which includes but is not limited to the following
You are obligated to read ALL documents provided to you.
You have an affirmative duty to take the necessary steps to protect yourself, which should include reading, researching and/or discovery of the legal, practical and technical implications of discovered or disclosed facts, and investigation of information and facts which are known to you or are within your diligent attention and observation.
You are advised to read and familiarize yourself with the Buyer’s Investigation Advisory (BIA) document, which provides a list of items and other concerns that may warrant further investigation by your or any other professionals.
You are advised to read the Buyer’s Investigation Advisory and Buyer Transactional Advisory for a list of items and other concerns that may warrant investigation by Buyer or other professionals.
You agree to seek desired assistance from appropriate professionals, selected by you, including but not limited to, those referenced in the Buyer’s Investigation Advisory (BIA).
To timely view and consider properties selected by Broker and to negotiate in good faith to acquire a property. Buyer further agrees to act in good faith toward the completion of any contract entered into.
You agrees to pay for reports, Investigations and meetings arranged by Broker on your behalf.
You are obligated to notify me, your Broker and Agent, in writing (on C.A.R. Form BMI) for information on, or concerns regarding, any particular subject of interest or importance, any important or material issue to you and/or if your circumstances or interests change during the property buying process.
You agrees to indemnify, defend and hold Broker harmless from all claims, disputes, litigation, judgments, attorney fees and costs arising from any incorrect information supplied by you, or from any Material Issues that you fail to disclose in writing to Broker.
Understanding My Duties & Limitations In The Home Buying Process
You have an affirmative fiduciary duty to provide you with the utmost care, integrity, honesty and loyalty in our dealings.
You agree to, and authorize me to use reasonable skill and diligence to provide guidance to and help you with the acquisition of Property.
I have a duty to assist you in locating and presenting selected properties to you, presenting offers authorized by you, and assisting you in negotiating for acceptance of such offers and, as applicable, terms and conditions following such acceptance, and facilitating the escrow process for such accepted offers.
You agree to, and authorize me to as directed by or agreed with you, to order reports and Investigations, and scheduling and attend meetings and appointments with professionals chosen by you.
You agree to, and authorize me to upon request, providing you with a list of professionals or vendors who perform the services described in the attached Buyer’s Investigation Advisory, provided I have a referral for such requested services.
You agree to, and authorize me to upon request, assisting you with the financing process by making referrals to lenders known to Broker, and assisting you in obtaining loan pre-qualification, to the extent Broker can do so without acting as a Mortgage Loan Broker.
If the Property contains residential property with one to four dwelling units, Broker will conduct a reasonably competent and diligent, visual inspection of the accessible areas of the one to four Property (excluding any common areas) and disclose to Buyer all facts materially affecting the value or desirability of such Property that are revealed by this inspection.
Broker shall deliver or communicate to Buyer any disclosures, materials or information received by, in the personal possession of or personally known to the individual signing for Broker during the Representation Period.
Unless otherwise specified in writing, any information provided through Broker in the course of representing you has not been and will not be verified by Broker.
Broker’s services will be performed in compliance with federal, state and local anti-discrimination laws.
Buyer Representation Agreement
Before we start seeing properties, I ask clients to sign this agreement that allows Compass and me, as your agent, to legally and exclusively represent you and your interests. It establishes a formal relationship between us and outlines the terms and conditions under which I will represent you with your property search.
Essential Components of the Buyer Representation Agreement
1. Scope of Services: Defines the services I will provide you including property search, property showings, negotiation, and assistance with the purchase process.
2. Property Type and Location:
The agreement may include details about the type of property you are interested in (e.g. single family, condo, commercial property, etc.) and the geographic area where you are looking to purchase.
3. Duration: The agreement specifies the period during which you are committed to working exclusively with me (typically 6 - 12 months).
4. Compensation: The agreement specifies how Compass will be compensated as it relates to your representation. We can have a conversation at the start of your search to discuss payment scenarios so we can memorialize it in writing in this agreement. Commissions are negotiable.