Bay Realty Michigan Listing Agreement
Exclusive Listing Contract (Designated Agency)
A real estate listing agreement is a contract between you (the property owner) and a real estate brokerage that outlines the terms under which your home will be marketed and sold. It details key aspects like the listing price, the duration of the agreement, the responsibilities of the agent, and the commission structure. Essentially, it formalizes your partnership with the brokerage, allowing your agent to represent you, promote your property, and guide you through the selling process. It’s designed to protect both parties and ensure a smooth and professional sale of your home.
Bay Realty Michigan Agency Disclosure
Disclosure Regarding Real Estate Agency Relationships
A real estate agency disclosure is a document that explains the relationship between you (the seller) and the real estate agent or brokerage representing you. It outlines the agent's legal duties and responsibilities, such as loyalty, confidentiality, and acting in your best interest throughout the transaction. This disclosure ensures transparency, helping you understand how the agent will work on your behalf and clarifying whether they represent you exclusively or if dual agency (representing both buyer and seller) may apply. It’s an important step to establish trust and clear communication.
Bay Realty Michigan Seller's Disclosure
A real estate seller's disclosure is a document where you, as the property owner, provide information about the condition of your home and any known issues. It’s an important part of the selling process, designed to give prospective buyers a clear understanding of the property they’re considering. The disclosure typically covers areas like the roof, plumbing, electrical systems, appliances, and any past repairs or damage. Being honest and thorough in your seller’s disclosure helps protect you from legal issues down the line and builds trust with potential buyers.
Bay Realty Michigan Lead Based Paint Disclosure
Lead-Based Paint Sellers Disclosure Form
Lead Based Paint in Your Home Pamphlet
A seller's lead-based paint disclosure is a required document for properties built before 1978, informing prospective buyers about the potential presence of lead-based paint in the home. Federal law mandates that sellers disclose any known information about lead-based paint or hazards, provide buyers with the EPA’s pamphlet “Protect Your Family from Lead in Your Home”, and allow buyers the option to conduct a lead-based paint inspection. This disclosure ensures transparency and helps protect both you and the buyer from potential health and safety concerns related to lead exposure.