Connecticut Transaction Agreement
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How to fill out Transaction Agreement?
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FAQ
If you use a dual agent, they receive the entire real estate commission, most often paid by the seller. In contrast, in a traditional two-agent transaction, the commission is split between the two, sometimes to varying degrees depending on the brokerage.
In other words, a dual agent represents both the buyer and seller in a real estate deal. Dual agency is illegal in the following eight states: Wyoming, Alaska, Vermont, Colorado, Flroida, Maryland, Texas, and Kansas. All the other states and the District of Columbia, permit dual agency.
Any purchase agreement should include at least the following information: The identity of the buyer and seller. A description of the property being purchased. The purchase price. The terms as to how and when payment is to be made. The terms as to how, when, and where the goods will be delivered to the purchaser.
Who pays realtor fees in Connecticut? In Connecticut, home sellers pay real estate commission fees out of the final sale proceeds for both agents involved in a deal. Offering to pay for the buyer's agent's commission is an incentive for agents to show your home to their clients.
Connecticut law prohibits a broker or salesperson from representing or negotiating on behalf of a buyer unless a buyer signs a written agreement to allow the broker or salesperson to act on buyer's behalf.
Dual agents can streamline the home sale process, helping you sell your home faster and with less hassle. However, since they represent the buyer too, your real estate agent may not be willing to negotiate a higher price with the buyer.
Dual agency is allowed, if both parties give their informed consent. Dual agency is permitted if both the buyer and seller give their informed consent to it. One way that this consent can be obtained is by using the Dual Agency/Designated Agency Disclosure Notice and Consent Agreement.
