RI Realtors 1418 (R-106) 2013-2024 free printable template
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Instructions and Help about ri form real estate disclosure
Welcome to lesson two of contracts I'm here in my zip form plus program, and we've already gone over the cover sheet so let's go over our disclosures as you can see what I have here is a template set up in zip forms which allows me to simply put in information about the property this template then autopopulates all the forms that are needed makes life a lot quicker and a lot easier so let's move on to disclosures here I'm going to open up my disclosures and this is our California Association of Realtors form ad which is the real estate agency relationship so in this particular lesson I want to show you how important it is and how to explain this to your client and right now I'm using a disclosure form for a buyer here's how it gets explained and as you can see down here I'll scroll back down I already have due to my cover sheet being completed everything is populated okay the buyers name the company name the agents name all the licenses so-and-so forth now this is important in representing a buyer this particular form in California there is an agency form for the seller that the seller signs in this area with the agent that is representing them the buyer and the sellers' agency form there's nothing for the seller to sign down here because they've already signed up here for the buyers form understand this that the buyer science agency but then down here also the seller signs to confirm the fact that this particular broker and this particular agent is working with the buyer so here's how I explain it when I'm sitting down with the client this particular form is the definition in the foundation of our agency relationship which gives us a fiduciary duty to represent that particular party whether it's a seller or a buyer if this box is checked right here the form is being provided in connection with a transaction for a lease okay so if they're actually purchasing a property this is not to be checked so use the same form for leases between landlord and agent and then tenant and agent so-and-so forth so keep in mind that agency this form here is what allows you to represent whatever party you're working with in the transaction without this form you simply can't according to California Association of Realtors until this form is signed you're not really representing anyone, so this is why it's the first form that shows up in my template so again here's how I explain it as a seller's agent I have to show diligent and exercise a reasonable skill and care and performance as an agent I also have a duty to be honest and fair dealing in good faith I have a duty to disclose all facts known in regard to the property so what that's saying there is that I have a fiduciary duty to represent that client I have to disclose everything that I know what I also explained to my client were the seller or a buyer that my fiduciary duty is to not only protect them in regard to negotiating and representing them, but I'm going to protect them by disclosing anything and...
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