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- Under Florida law, brokers are liable for the actions (or inaction) of the agents who work for them. That’s seen as part of their duty in overseeing agents who are out there hustling on the streets to bring in deals for their company.
aboutfloridalaw.com/2016/01/19/real-estate-brokers-are-liable-for-harm-caused-by-their-agents/Are Florida Real Estate Brokers Liable ... - About Florida Law
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In Florida, if the selling party withholds such information about the property, then he or she may be committing fraud as specified in the Florida Disclosure Law. Additionally, as a representative of the owner, under state and federal laws, the seller’s real estate agent is also liable.
Licensed Florida real estate agents should be aware of the various categories of professional liability that they face. Knowing the potential liability enables a Florida real estate agent to properly plan and implement proactive methods to avoid such liability.
Jun 21, 2024 · Typically, the seller pays a 5% to 6% commission to the real estate listing agent, who then splits this with the agent (if any) who represents the buyers. The commission comes out of the proceeds of the sale and you pay it at closing.
Mar 25, 2024 · Maintenance and Liability: Until the final payment is made and the deed is transferred, the seller remains the legal owner of the property and may be liable for certain issues, such as property taxes and homeowner's association fees, or even personal injury claims occurring on the property.
Mar 25, 2019 · In a transaction broker relationship the duties of a real estate license include: dealing honestly and fairly; accounting for all funds; using skill, care and diligence in transaction; disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer; presenting all offers and co...
Errors and omissions insurance (E&O) is a type of professional liability insurance that protects companies and their workers or individuals against claims made by clients for inadequate work or negligent actions.
Jul 24, 2017 · There are certain steps required to buy or sell Florida real estate. Read this article to learn each stage of the transaction and how a lawyer makes it easier.
