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Consensual Dual Agency Addendum 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 Slogan Realty; or the client
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How to fill out consensual dual agency addendum
How to fill out consensual dual agency addendum:
01
Begin by reviewing the terms and conditions of the consensual dual agency addendum. Familiarize yourself with the language and requirements stated in the document.
02
Identify the parties involved in the transaction. This typically includes the buyer, seller, and real estate agents or brokers representing each party.
03
Obtain the necessary signatures. Ensure that all parties involved in the transaction sign the consensual dual agency addendum. This demonstrates their understanding and agreement to the terms outlined in the document.
04
Specify the property in question. Clearly indicate the address or legal description of the property that is the subject of the transaction.
05
Outline the specific terms of the dual agency relationship. This may include a provision for the real estate agent or broker to act as a dual agent, representing both the buyer and the seller. Make sure to include any limitations or conditions that apply to the dual agency relationship.
06
Provide any additional information required by your local real estate laws or regulations. Depending on your jurisdiction, there may be specific disclosures or requirements that need to be included in the consensual dual agency addendum.
07
Make copies of the fully executed consensual dual agency addendum for all parties involved. Ensure that each party has a signed copy for their records.
Who needs consensual dual agency addendum:
01
Parties involved in a real estate transaction where the buyer and seller are each represented by the same real estate agent or broker.
02
Individuals who agree to a dual agency relationship, where a real estate agent or broker acts as a representative for both the buyer and seller.
03
Anyone who wants to clearly establish the terms and conditions of the dual agency relationship and ensure that all parties involved are aware of and consent to this arrangement.
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What is consensual dual agency addendum?
Consensual dual agency addendum is a legal document that allows a real estate agent to represent both the buyer and the seller in a transaction with the informed consent of all parties involved.
Who is required to file consensual dual agency addendum?
Real estate agents who intend to represent both the buyer and the seller in a transaction are required to file consensual dual agency addendum.
How to fill out consensual dual agency addendum?
Consensual dual agency addendum can be filled out by providing the necessary information such as the names of the buyer, seller, and the agent, as well as the property address and the terms of the agreement.
What is the purpose of consensual dual agency addendum?
The purpose of consensual dual agency addendum is to disclose the potential conflict of interest that may arise when a real estate agent represents both the buyer and the seller in a transaction.
What information must be reported on consensual dual agency addendum?
The consensual dual agency addendum must include the names of the parties involved, the property address, the terms of the agreement, and a disclosure of the conflict of interest.
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