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What is New York State Buyer's Agency Disclosure?

By
Real Estate Broker/Owner with NycCountryHomes - Putnam & Westchester NY

Buyer's Agent Representation

We would never purchase a property or enter into a real estate deal without the representation of our buyer's agent The Lawrence Walsh Group.  (Mary & Joe Alberts) 

Did you know that by default all real estate brokers represent the seller by law! 

Unless, that is, the buyer has entered into a written agreement with a real estate broker to represent the buyer as a "buyer's agent".  This is of such significance that New York State has created a "Buyer & Seller Agency Disclosure Form" to explain the responsibilities of all parties. 

We at The Lawrence Walsh Group professionally represent and consult with buyers in Westchester & Putnam Counties NY in all facets of real estate transactions.  As your professional "Buyer's Agent" we perform the following services;

  • Protect & serve your interest only!
  • Assist you in pre-qualifying for a mortgage
  • Research and identify neighborhood & schools
  • Provide search access to three Multiple Listing Services MLS
  • Provide automatic daily updates of matched properties
  • Research town, tax and building records
  • Professionally negotiate the purchase offer
  • Attend the home inspection
  • Attend the bank appraisal
  • Monitor the progress of the sale & escrow with buying & selling attorneys
  • Attend the closing

If the property is listed on the MLS System, than the seller pays the compensation to the buyer's agent via the Multiple Listing Services cooperating broker's agreement, which is essentially why the MLS System exists.  This means that it cost you $0,  yet can save you thousands of dollars and years of regret.

 New York State defines a Buyer's Agent using the following term;

 "A buyer's agent is an agent who is engaged by a buyer to represent the buyer's interests. The buyer's agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer. A buyer's agent has, without limitation, the following fiduciary duties to the buyer: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account. A buyer's agent does not represent the interests of the seller. The obligations of a buyer's agent are also subject to any specific provisions set forth in an agreement between the agent and the buyer. In dealings with the seller, a buyer's agent should (a) exercise reasonable skill and care in performance of the agent's duties; (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the buyer's ability and/or willingness to perform a contract to acquire seller's property that are not inconsistent with the agent's fiduciary duties to the buyer."

Be smart, be represented, and call the Lawrence Walsh Group at 914-248-1800 for superior representation and unparalleled client satisfaction

CLICK HERE to see ALL Westchester County NY & Putnam County NY Sales and All Active Listings

Call 914-248-1800 or visit us at www.nyccountryhomes.com

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