If the court determines that a lawsuit brought under DTPA is groundless in law or fact, brought in bad faith, or for the purposes of harassment, then the court shall award the defendant reasonable and necessary attorney's fees and court costs.
In an exclusive-right-to-sell listing, one broker is appointed as the seller's agent and is given the exclusive right to market the seller's property; the seller must pay the broker a commission if the property is sold during the term of the listing.
customers. What is not one of the four choices a buyer can make when a counteroffer is given back to him or her? The counteroffer could become a lease. Who can file a discrimination complaint?
1) Meeting occurring at property held open for any prospective buyer or tenant, 2) meeting or written communication occurring after parties to real estate transaction have signed a contract to sell, buy, or lease the real property concerned.
A broker's agreement to represent a property buyer may be terminated for the following reasons... - The agreement's purpose is fulfilled by the transfer of title to the buyer. - The agreement's term expires. - The broker and the buyer mutually agree to cancel the agreement.
The key elements of the buyer-broker agreement are broker exclusivity, contract duration, compensation, and the description of the type of home the buyer is seeking.
What happens when a buyer rejects a counter offer? A counter offer legally voids the buyer's original offer. It typically releases them from any legal obligation they had towards the original contract, and there's nothing you can do should they choose to reject your offer.
Express your gratitude When declining a job counteroffer, it can seem a bit counterintuitive to start your message with sincere gratitude or "thank you," especially since you are not accepting the offer. However, it's important to remember that your employer may have spent energy and time retaining you as an employee.
In the home buying process, a counter offer is an offer made in response to the original bid. When a seller gets an offer, they can choose to accept, reject or counter. In return, if the seller makes a counter, a buyer can also choose to accept, reject or counter it.
What rules should brokers follow to decrease the possibility of lawsuits? the third party has the power to make a binding decision. the third party attempts to create a compromise. the third party conducts a discovery.
When you've finally found the house that meets your needs and budget, it's not necessary to submit a preapproval letter with your offer, but getting preapproved can allow you to shop with greater confidence, and give sellers greater confidence in you as well.
Which of the following is the most serious consequence of treating a customer as a client? If you treat a customer as a client, you could breach your duty to your client.
A listing agreement, the document that puts an agent or broker in business, is a legally enforceable real estate agency agreement between a real estate broker and a client, authorizing the broker to perform a stated service for compensation.
He should look for common threads or themes in those notes that could provide valuable information about the brokerage as a workplace. Which one of the following actions is a required duty of a supervising broker? Approve licensee business expenses.
A contract where the parties exchange a promise for a promise is known as a Bilateral Contract, whereas a contract where one party gives a promise and the other party performs an act is known as a Unilateral Contract.
Agents represent insurers, while brokers represent the client. Agents can complete insurance sales (bind coverage), while brokers cannot.
Misrepresentation is an unintentional mistake, written or spoken.
The duties owed by agents to their clients are known as fiduciary duties.
Sally and Fred are two single people buying a home together. The lender is threatening to deny them a loan because he does not like their lifestyle. If the lender does that, it will be a violation of the:
No, the seller, broker, or agent may be liable for misrepresentation even without malicious or deceptive intent.
A license holder must disclose orally or in writing to others of their representation of a party to a real estate transaction at the first contact.
Fraud is intentional ; misrepresentation is not. Fraud generally includes both affirmative misrepresentations and affirmative concealment, and the person making the misrepresentation is aware of the true facts.
Under the ECOA, it is legal for a lender to ask if a borrower is separated.