Arkansas Summary of Principal Terms
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How to fill out Summary Of Principal Terms?
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FAQ
The Real Estate Commission consists of five members appointed by the Governor for three year terms.
The maximum compensation that will be paid from the Arkansas Real Estate Recovery Fund under such circumstances is $50,000. a lender as the basis in determining the value of the buyer's residence for the purpose of obtaining a loan.
Ingly, the real estate regulations require brokers to keep contracts, and any supporting documents related to trust accounts, in their records for three years.
How to File a Complaint. Complaint forms can be obtained from the Arkansas Real Estate Commission or on the Forms & Publications page for download in PDF format. The complaint form will need to be filled out, signed in the presence of a notary public, and the original should be returned to the Commission office.
In an interpleader action, the broker releases the trust funds to the court presiding over the subject property's jurisdiction, which will then release the funds at the conclusion of legal action between the parties to the original contract.
8.5 Fidelity and Honest Dealing This obligation of absolute fidelity to the interest of the client or clients is primary, but does not relieve a licensee from the equally binding obligation of dealing honestly with all parties to the transaction.
Activities Not Requiring a Real Estate License An unlicensed assistant may: perform administrative duties such as answer phones and forward calls. listing signs. offer general information about a property listed for sale.
Any individual who believes they are the victim of misconduct by a licensee or an unlicensed person conducting real estate activities in Arkansas is free to file a complaint with the real estate commission.