Bad Faith
Definition of "Bad faith"
Intent to deceive or never to carry out the provisions of an agreement.
Popular Real Estate Terms
Six-by-six mile square area of land designated by the intersection of range lines and township lines in the rectangular survey system. ...
Deed of trust or mortgage in real estate in which the lender subordinates her loan to another lender whose priority is first if there is nonpayment by the borrower. ...
Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...
Ownership rights to real or other types of tangible or intangible property. Property rights include exclusive occupancy, possession, use, and the right of disposition. Individuals groups, ...
Properties that about and actually touch and share a common border. Properties B and C are contiguous. Property A is adjacent to properties B and C, but it is not contiguous. ...
Licensed real estate broker who has a listing of property for sale. ...
Charitable gesture, such as when real estate is donated to a charity. The fair market value of the donated property may be tax deductible as a charitable contribution. ...
The person giving property or establishing a trust. ...
Oral defamation of the character or reputation of another. It is the basis for a lawsuit. ...
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.