1-800-945-4019
970-879-5100
FAX: 970-879-5204
350 S. Lincoln Ave
PO Box 774687
Steamboat Springs
Colorado 80477
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So what exactly is a Buyer's Agent?
Colorado Real Estate Law States:
"a buyer's agent is engaged as a limited agent and works solely on behalf of the buyer and owes duties to the buyer which include the utmost good faith loyalty and fidelity." "Will negotiate on behalf and act as a advocate of the buyer." "a separate written agency agreement is required."
- Broker will promote the interests of Buyer with the utmost good faith, loyalty, and fidelity, including but not limited to:
- seeking a price and terms which are acceptable to Buyer, except that Broker shall not be obligated to seek other properties while buyer is a party to a contract to purchase Property;
- procuring acceptance of any offer to purchase property and to assist in the completion of the transaction;
- presenting all offers to and from Buyer in a timely manner, regardless of whether Buyer is already a party to a contract to purchase Property;
- disclosing to Buyer adverse material facts actually known to Broker;
- counseling Buyer as to any material benefits or risks of the transaction which are actually known to Broker;
- advising Buyer to obtain expert advise as to material matters about which Broker knows but the specifics of which are beyond the expertise of Broker;
- accounting fin a timely manner for all moneys and property received, and
- informing Buyer that Buyer may be vicariously liable for the acts of Broker when Broker is acting within the scope of the agency relationship.
- Broker shall not disclose to the seller or any third party, without the informed consent of Buyer:
- that Buyer is willing to pay more than the purchase price for Property;
- what Buyer's motivating factor(s) are;
- that Buyer will agree to financing terms other than those offered;
- any material information about Buyer unless disclosure is required by law or failure to disclose such information would constitute fraud or dishonest dealing; and
- any facts or suspicions regarding circumstances which would psychologically impact or stigmatize Property
- Broker shall disclose to any prospective seller all adverse material facts actually known by Broker, including but not limited to adverse material facts concerning Buyer's financial ability to perform the terms of the transaction and whether Buyer intends to occupy Property as a principal residence.
- Broker shall make submission to Buyer describing and identifying properties appearing to substantially meet the criteria set forth in Section 3. (In the Buyer's Agency Agreement)
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