This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Colorado Lease Provisions Relating to Brokers
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Multi-State
Control #:
US-OL29A07
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Word;
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FAQ
Final answer: A broker's office policy must include how brokerage relationships are offered to the public, the commissions and fees charged, and adherence to fair housing rules.
The broker determines an appropriate loan amount, loan-to-value (LTV) ratio, and the borrower's ideal loan type. They then submit the application to a lender for approval. The broker communicates with the borrower and the lender during the entire transaction through closing.
If closing documents and statements are prepared by, and the closing is conducted by, an employing broker's company, such broker is primarily responsible for the accuracy and completeness of the settlement statements and documents.
Rule E-35 requires that a broker disclose their relationship to the public before accepting or eliciting confidential information. The answer is drafting a form if a standard one does not exist. A real estate broker may not draft a form if a standard or approved one does not exist.
Real estate brokers are required by Rules E-4 and E-5 to provide copies of complete and accurate closing statements to buyers and sellers for any transaction in which the broker assists or acts in an agency capacity.
An employing broker must exercise authority, direction, and supervision over any associate brokers to ensure conformance to the statutes and Commission rules in the performance of the associate broker's activities.
