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This document serves to inform clients of CBSHOME Real Estate Company about affiliated businesses that may benefit from referrals, highlighting ownership interests and typical costs of associated
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How to fill out affiliated business arrangement disclosure
How to fill out Affiliated Business Arrangement Disclosure
01
Step 1: Obtain the Affiliated Business Arrangement Disclosure form from your real estate office or regulatory agency.
02
Step 2: Fill in the names of the parties involved in the transaction, including the lender, broker, and any affiliated businesses.
03
Step 3: Clearly explain the nature of the relationship between the parties and the affiliated businesses involved.
04
Step 4: Include details about the services being provided by the affiliated businesses and any fees associated with those services.
05
Step 5: Disclose any potential conflicts of interest, ensuring that all parties understand the implications.
06
Step 6: Have all parties sign and date the disclosure to acknowledge their understanding of the arrangement.
Who needs Affiliated Business Arrangement Disclosure?
01
Buyers and sellers of real estate who are involved in a transaction with affiliated businesses.
02
Real estate agents and brokers who facilitate transactions with affiliated services.
03
Lenders who require the disclosure as part of the mortgage process to ensure compliance with regulations.
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What is Affiliated Business Arrangement Disclosure?
Affiliated Business Arrangement Disclosure is a document that informs consumers about business relationships between real estate professionals and service providers involved in a real estate transaction, ensuring transparency.
Who is required to file Affiliated Business Arrangement Disclosure?
Real estate agents, brokers, and lenders who have a financial interest in an affiliated business must file the Affiliated Business Arrangement Disclosure when referring clients to those businesses.
How to fill out Affiliated Business Arrangement Disclosure?
To fill out the Affiliated Business Arrangement Disclosure, provide details about the nature of the affiliation, the services offered, and the financial interests involved. Ensure that the disclosure is clear and signed by the consumer.
What is the purpose of Affiliated Business Arrangement Disclosure?
The purpose of the Affiliated Business Arrangement Disclosure is to protect consumers by providing transparency regarding potential conflicts of interest and ensuring they are aware of any affiliations between service providers.
What information must be reported on Affiliated Business Arrangement Disclosure?
The information that must be reported includes the names of the affiliated businesses, the nature of the relationship, potential costs to the consumer, and any financial interests held by the referring party.
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