Bad Faith
Definition of "Bad faith"
Intent to deceive or never to carry out the provisions of an agreement.
Popular Real Estate Terms
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Combination of insurance policies on property with each providing an additional increment of coverage exceeding the limits of the preceding policy. For example, policy A adds $70,000, then ...
A report published by a governmental unit which is publicly available. For example, the decennial census report published by the U.S. Department of Commerce is a public report. ...
Large, high-volume food store where customers serve themselves by going through the aisles and selecting their groceries to be paid at the cash register on the way out. ...
Same as term landlocked: Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...
Series of sloping horizontal slats most frequently mounted in doors and windows permitting the passage of air while restricting vision and preventing rain from entering the building. ...
An individual against whom a court has placed a financial judgment with a creditor. For example, a court determines that Cole owes Smith $2,000 and makes Cole a judgment debtor. ...
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.
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