IMPORTANT NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES PROVIDE THIS NOTICE TO
POTENTIAL SELLERS AND BUYERS OF REAL ESTATE
You should not assume that any real estate broker or salesman represents you unless you agree to engage a real estate licensee in an authorized brokerage relationship either as a single agent or as a transaction broker. You are advised not to disclose any information you want to be held in confidence until you make a decision on representation.
TRANSACTION BROKER NOTICE
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS TRANSACTION BROKERS DISCLOSE TO BUYERS AND SELLERS THEIR ROLE AND DUTIES IN PROVIDING A LIMITED FORM OF REPRESENTATION. As a transaction broker GMAC Camelot Realtors and its Associates, provides to you a limited form of representation that includes the following duties:
1. Dealing honestly and
fairly;
2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction;
4. Disclosing all known facts that materially affect the value of real property
and are not readily observable to the buyer;
5. Presenting all offers and counteroffers in a timely manner, unless a party
has previously directed the licensee otherwise in writing;
6. Limited confidentiality, unless waived in writing by a party, This limited
confidentially will prevent disclosure that the seller will accept a price less
than the asking or listed price, that the buyer will pay a price greater than
the price submitted in a written offer, of the motivation of any party for
selling or buying property, that a seller or buyer will agree to financing terms
other than those offered, or of any other information requested by a party to
remain confidential; and
7. Any additional duties that are entered into by this or by separate written
agreement.
Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party.
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