YOUR CHOICES AND RIGHTS
California customers may request, once per year, that we disclose the identity of any third parties with whom we have shared personal information for the third-parties’ direct marketing purposes within the previous calendar year, along with the type of personal information disclosed.
Do Realtors have access to your financial information?
A real estate agent never needs to know your salary or your credit score and never needs to see your pay stubs, your tax returns, or your financial statements. Only your lender will ask you such questions and request financial documents.
What do Realtors have to disclose?
Duty to disclose ‘material fact‘
The duty of disclosure relates to any issue which is false, misleading or deceptive. Real estate agents need to be aware that if they fail to disclose a “material fact” to a prospective purchaser which might mislead them into purchasing a property.
A: When a real estate transaction involves a member related to the buyer or seller, it must be disclosed in writing. Your agent presented the information legally and correctly if her brother is the buyer.
Why do realtors ask for bank statements?
A bank statement is usually acceptable as a means to prove this. Similarly, an official statement from a solicitor confirming that a sufficient bank balance would also be enough. The amount of the offer on the home should at least be equal to the sum of the cash and mortgage approval.
What is the most common reason a property fails to sell?
The most common reason a property fails to sell is an unreasonable asking price by the seller. An asking price that’s too high is the surest way to increase your days on market and have a “non-starter” listing that buyers simply ignore.
Should you tell your realtor your preapproval amount?
Nevertheless, you should get preapproved for your mortgage to know what you can spend. Your lender can prepare preapproval letters in several amounts so that sellers and agents don’t know what your max budget is. This way, you can give the seller a preapproval letter that matches your offer.
Can real estate agents check your bank account?
“Do agents have the right to ask for bank statements during the application process?” … Bank statements can also verify that the payments you receive go into a bank account in your name. Agents are governed by the Privacy Act 2000, which means they’re only allowed to use your bank statements for this purpose.
Can I sue seller for non disclosure?
Yes, you can sue the seller for not disclosing defects if your attorney can prove that the seller knew about the defect and intentionally failed to disclose it. Unfortunately, many sellers know about defects. Often, they will do things to mask the defect, like repainting or putting in new carpet.
Can I sue my realtor for not disclosing?
You can only sue a person for non-disclosure if he or she in fact had a legal obligation to disclose something to you. Usually this is not an issue since these lawsuits typically arise in the context of a purchase and sale. The seller has a legal duty to the buyer due to the existence of their contractual relationship.
What happens if a seller lies on a disclosure?
If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.