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The paperwork Required for all NH Real Estate transactions
The NH Real Estate Commission has posted the Following consumer advisory on their website. "Even though real estate professionals must always present properties honestly and accurately under the law, you must specifically hire an agent - using a written hiring contract - before that person legally owes you a duty of loyalty. Otherwise, that agent may ultimately be hired by a seller, and have a legal duty to disclose to that seller any information that you have revealed Until any agent actually contracts to represent your interests in a real estate transaction, do not disclose any information to him/her that you would not want a seller to possibly know."
This is great advise and we agree that all consumers should understand the paperwork involved in a real estate transaction, the new Hampshire Real Estate Commission website is a great place to see all the information you need to know, and as a convience we are also providing some of this information on this page.
We recommend that you also review the following pages in their site. Duties of Real Estate Licensees tells you what all NH Real Estate Licensee duties are. Broker Responsibilities describes the relationship of the broker in the transaction, remember there could be 2 brokers and 2 agents involved in your transaction. How the NHREC Protects Consumers your recourse with the commission if an agent or broker has acted inappropriate or If You Have Questions it is recommended that you call the NHRC at 603-271-2701
Agency Disclosure
The state of New Hampshire Real Estate Commission requires all consumers to review this form with the real estate agent you are talking with. THIS MAY BE ONE OF THE MOST IMPORTANT FORMS YOU NEED TO FULLY UNDERSTAND. It explains the difference of being a Customer or a Client. Do not assume that a licensee is acting on your behalf unless you sign a contract for representation. Until that time you are a customer and not a client. You should not expect the licensee to promote your best interest or to keep any information confidential, including your bargaining position.
Clients receive more services than customers. You become a client by entering into a written contract for representation as a seller/landlord or as a buyer/tenant. We strongly recommend that you download the NH Real Estate Agency Disclosure Form and read it over. This is a quick summation of the customer/client relationship there are other options you should understand.
| As a customer, you can expect us to provide the following customer-level services: |
As a client, in addition to the customer-level services listed to the left plus,, you can expect the following client-level services: |
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• To disclose all material defects actually known by the licensee pertaining to the on-site physical condition of the real estate; |
• Confidentiality; |
Buyer agency
Do you want to be a Client, then you need to review the NH Real Estate Buyer Agency Agreement. This agreement obligates us to your best interest, the the sellers best interest.
Purchase and Sales Agreement
The last step in owning a property is the NH-Real-Estate-Purchase-and-Sales-Agreement . It is a good idea to read this over before you decide to make any offers on a property. We will be happy to go over all the aspects of this form with out clients to be sure that it is completed with their best interest in mind.
Other Resources
The Federal Trade Commission has some good information on looking for a real estate agent and the selection of a mortgage for you. this link will go direclty to the FTC Mortgages and Real Estate Page. Our tax dollars paid for it so lets use it.
Consumer Protection and Antitrust Bureau in the Attorney General's Office of NH website offers a wealth of info also.
The NH Better Business Bureau is a good place to report any complaint that you cannot resolve with the real estate agent.
| Copyright 03/15/10 New Hampshire Lakes Region Real Estate |
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