A South Carolina buyout agreement is a document that conveys the operating conditions that a real estate agent and a buyer comply with. The agent will represent the buyer in trying to find a property for sale that meets the buyer`s specifications. If the buyer buys real estate through the broker, the broker receives a commission or other compensation. The agent may also charge a retainer fee as part of the agreement. In accordance with the agreement, the agent is required to work in the best interest of the buyer and negotiate the best possible deal. Remember that only an SC licensed mortgage broker signs a financial services agreement with you in which they declare that they are acting as an agent and owe you the utmost diligence, honesty and loyalty, including full disclosure of all essential facts. Who pays their fees? In most cases, the seller of the property does this. What for? Indeed, when the property is put up for sale with a real estate brokerage company, the wording allows it in most listing agreements signed by the seller. Talk to your agent for more details. This brochure clearly states: “If or until you do not enter into a written agreement with the company on the representation of the agencies, you will be considered the `client` of the company and the company will not act as a representative. As a client, you should not expect the company or its licensees to encourage your best interest or to keep your trading information confidential. By signing a buyer agency contract with a licensed real estate agent, they are required to work on your behalf. This is very important in negotiations with the seller about the price, conditions and possible repairs.
You must also provide all the information they are aware of regarding each property they show you. South Carolina Association of Realtors – Adobe PDF We recommend that you read it before you start interviewing real estate agents you want to work with. It is important that you understand who is working on your behalf and who represents the seller. We firmly believe that you need a real estate agent legally on your side, as well as a mortgage expert who is on your side. The South Carolina Estate Commission has approved a brochure entitled “Agency Relationships in Real Estate,” which can be found here. If you use a buyer agent to help you find your new home and the First Nations to get a mortgage for you, a winning team will be put on your side. Call again today to learn more.. . .