51019 Lake Park Drive New Buffalo, MI 49117
- 4 Beds
- 7 Baths
- 8467 sq.ft.
Buyer’s Agency Agreement
Do you need one?
A Buyer’s Agent acts solely on behalf of the buyer and owes duties to the buyer. Which includes the utmost good faith, loyalty, and fidelity. The buyer’s agent will negotiate on behalf of, and act as an advocate for, the buyer. The buyer is legally responsible for the actions of the agent when that agent is acting within the scope of the agency. The agent must disclose to sellers all adverse material facts concerning the buyer’s financial ability to perform the terms of the transaction and whether the buyer intends to occupy the property. A written Exclusive buyer’s agent agreement is required which sets forth the duties and obligations of the parties.
Entering into a Buyer’s Agency Agreement has countless advantages and no disadvantages. When you sign the agreement, you are simply agreeing to “hire” a personal representative who, by law, must represent your best interests to the best of their ability. The Seller is responsible for paying your Buyer’s Agent fee in most cases.
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