Check Your Understanding Answers
- List three items regarding the scope of the broker’s duty that the buyer acknowledges when signing the agreement. (Additional correct answers on page 54.)
- Broker does not decide the price buyer should pay or seller will accept
- Broker does not guarantee the condition of a property
- Broker is not responsible for identify boundary lines or other items affecting title
- As outlined in the provision discussing the buyer’s obligations, what is the buyer expected to do in regards to finding and purchasing a property?
Buyer agrees to consider and view properties in a timely manner and to act in good faith in the acquisition of a property.
- What are the parties agreeing to by initialing Paragraph 11B(2)?
Any dispute not resolved by mediation will be resolved by binding arbitration.
- What is the main difference between the two CAR buyer representation agreements?
The exclusivity of the broker-buyer relationship
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