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Why Disclosure is So Important.
Anyone planning to buy or sell their home who has interviewed one or more Realtors should have been given a document called the New York State Disclosure Form for Buyer and Seller to sign. If this has happened to you recently, and you are wondering what this form is and why your Realtor is so insistent that you sign it, don't worry. This is a New York State Department disclosure form, number DOS-1736, from which your agent must explain the details of your agency relationship at your first meaningful contact. This contact could be at your first face to face meeting, or immediately after your first email, phone call in which you discuss the details of transacting a property. Your signing of it only means that the Realtor has done so, and your signature is the proof. It doesn't obligate you to anything. So why is this form so important? In a nutshell, it explains the obligations of the Realtor to you depending on the different types of representation an agent can perform. The following is a breakdown of that form explained with hopefully less legaleese, and some recommendations for buyers and sellers alike.
Seller's Agent
A seller's agent is engaged ... more

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