This form grants to a realtor or broker the sole and exclusive right to list and show the property described in the agreement on one occasion. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Listing Agreement Document For Unimproved Property In Utah
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State:
Multi-State
Control #:
US-00056DR
Format:
Word;
Rich Text
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FAQ
“Listing agreement” means a written contract between a seller of real property or a business opportunity and a real estate broker by which the broker has been authorized to sell the real property or find or obtain a buyer, including rendering other services for which a real estate license is required to the seller ...
"Listing agreement" means a written contract between a seller of real property or a business opportunity and a real estate broker by which the broker has been authorized to sell the real property or find or obtain a buyer, including rendering other services for which a real estate license is required to the seller ...
The listing agreement is a document that protects your real estate agent. It ensures they will receive their commission if they find a buyer for your property and gives them exclusive rights to sell your home.
Explanation: A written listing agreement between a seller and a broker is an example of a bilateral contract. A bilateral contract is a type of contract where both parties make promises to each other. In this case, the seller promises to sell the property and the broker promises to find a buyer.
The purpose of a real estate listing agreement is to establish a contractual relationship between a property owner (seller) and a real estate broker. It authorizes the broker to act on the seller's behalf to sell the property under specified terms and conditions.
Utah law requires sellers to provide a Property Condition Disclosure (PCD) to potential buyers before a sale is completed. This disclosure form requires the seller to answer a series of questions about the condition of the property, including information about the roof, electrical systems, plumbing, and more.
Write the contract in six steps Start with a contract template. Open with the basic information. Describe in detail what you have agreed to. Include a description of how the contract will be ended. Write into the contract which laws apply and how disputes will be resolved. Include space for signatures.
Statutorily Required Seller Disclosures in Utah However, the Utah Supreme Court has ruled that property sellers must disclose known material defects that could not have been discovered by a reasonable inspection by an ordinary prudent buyer. (See Mitchell v. Christensen, 2001 UT 80, 31 P. 3d 572.)
Utah is a Non-Disclosure state, meaning what a home was purchased for is not part of the public record. Square footage, lot size, and property tax information can be searched through the county's Office of the Assessor's website.
A minority of states require sellers to make certain disclosures when selling commercial real estate specifically. These states are California, Maine, Michigan, Minnesota, New Hampshire, Tennessee, Texas, and Washington.
