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Consensual Dual Agency Addendum If property is for sale, the client agrees to pay at closing a broker administration fee ($250.00 Sellers/$195.00 Buyers) to Escrow Services of Iowa, a subsidiary of

How to fill out consensual dual agency addendum

How to fill out consensual dual agency addendum:

1. Start by obtaining a copy of the consensual dual agency addendum form. This form is typically provided by the real estate agent or brokerage involved in the transaction.
2. Read through the form carefully to familiarize yourself with its contents. Pay attention to any specific instructions or requirements mentioned in the document.
3. Fill in the necessary details in the designated fields of the addendum form. These may include your name, the property address, the names of the involved real estate agents or brokers, and any additional information required.
4. Review the terms and conditions outlined in the consensual dual agency addendum. These terms typically highlight the responsibilities and limitations of the agents or brokers representing both the buyer and the seller in a real estate transaction.
5. If you have any questions or concerns about the addendum, consult with a real estate attorney or your own legal advisor. They can provide guidance and ensure that your rights and interests are protected.
6. Once you have completed filling out the consensual dual agency addendum, sign and date the document, along with any other required parties, such as the buyer, seller, or the real estate agents involved.
7. Make copies of the filled-out and signed addendum for all parties involved, including yourself, the other party (buyer or seller), and the real estate agents or brokers.
8. Keep the original copy of the consensual dual agency addendum in a safe and easily accessible place, as it may be required for future reference or legal purposes.

Who needs consensual dual agency addendum?

The consensual dual agency addendum is typically needed in real estate transactions where the buyer and seller are both being represented by agents or brokers from the same agency or brokerage. In these situations, the addendum serves to inform and obtain consent from all parties involved that the agents or brokers will be acting as dual agents, representing both the buyer and seller in the transaction. This addendum ensures transparency and disclosure of the agency relationship, as well as outlines any specific terms or limitations that may apply to the dual agency representation.

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What is consensual dual agency addendum?

The consensual dual agency addendum is a document that allows a real estate agent to represent both the buyer and seller in a transaction with the consent of both parties.

Who is required to file consensual dual agency addendum?

Real estate agents or brokers who are representing both the buyer and seller in a transaction are required to file the consensual dual agency addendum.

How to fill out consensual dual agency addendum?

To fill out the consensual dual agency addendum, the agent must ensure that both the buyer and seller have provided their consent for the dual agency representation. The document must then be completed with all required information and signed by all parties.

What is the purpose of consensual dual agency addendum?

The purpose of the consensual dual agency addendum is to disclose to all parties involved in a real estate transaction that the agent is representing both the buyer and seller.

What information must be reported on consensual dual agency addendum?

The consensual dual agency addendum must include the names of the buyer, seller, and agent, as well as a statement confirming that both parties have consented to the dual agency representation.