I have been negotiating a deal direct with seller direct. No realtor involves. I am curious if I can use Standard Purchase Agreement that I bought from Staples to type an offer and get this deal going?
I do have my realtor license; I assume that I am not allow to use it since I don't get my broker involve.
I dunno how it works in CA, but in CO I believe you have to tell your employing broker about any real estate activities. I'd also think you have to disclose to the seller that you're a licensed agent and still follow any rules and regulations.
In CO doing that requires disclosure so the seller knows you're an agent and are more sophisticated and have more knowledge than they do. But in CO we have standard contracts that must be used.
If anything I'd think CA is more rigorous than CO. Doing this may be a one way ticket to getting your license revoked if anything goes wrong and the seller reports you to the Department of Real Estate.
It's all a negotiable business so I don't see any reason why you couldn't inform your employing broker about the deal and still move forward with no commissions paid on a direct deal.
I don't think that's a good idea. I'm not an agent yet, but my license should be issued in the next week.
If you weren't licensed then there would be no issue, but you are. Do it the right way.
@Anita Effendi I'm not sure about all the realtor technicalities that @Paul Caputo mentioned. But, just to answer your question, the Staples doc should be good enough, there are also some you can download here on BP in the fileplace. You could always show the title company or lawyer that you would use your contract and see what they say.
You have your “real estate salesperson” license. Have you also paid your dues to be a part of the “board of Realtors”? That’s a separate club and through them (CAR - California Association of Realtors) you would have access to all the CAR forms which are standard use across the state. Disclosures are standard across the state also with local disclosures being additional and more specific to your area. If any of this makes you uncertain, look into referring yourself to another agent or going 50/50 with one so you can learn what you need to for the next one.
(nothing herin constitutes legal advice of any sort)
Depends on what you are trying to do. You can't act facilitate a sale between a buyer and seller for a fee and bypass your broker. Escrow will likely not provide an agent's commission to an agent directly, only to a brokerage.
If you are trying to buy a property for yourself only, and you don't want brokerages involved, then I highly suggest having an attorney draft the required paperwork for a small flat fee. If you are a licensed Realtor that practices at all, you should know of and have access to the standard CAR purchase agreements and state and locale-specific disclosures, and you should be used to filling these out all the time. If you are licensed but don't practice, you really should have brokerages involved, or at the very least have an attorney do it for a small flat fee. It's not about whether some random "Staples" contract works or not, it's about protecting the parties from lawsuits in the future (and as a practical matter, title companies here prefer the CAR forms anyway).
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