Talk of The Villages Florida

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-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Question for those who have bought preowned (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/question-those-who-have-bought-preowned-71273/)

Cantwaittoarrive 02-27-2013 07:45 AM

Quote:

Originally Posted by justjim (Post 633387)
If you can't trust YOUR Realtor in a real estate transaction, who can you trust?

I only trust myself in any transaction. After all no realtor can read your mind, if you don't communicate what you want. It's up to each person in a transaction to read the contract fully before signing

gomoho 02-27-2013 08:33 AM

Quote:

Originally Posted by CarolSells (Post 633417)
Let's don't scare everyone! This may be true of Villages salespersons but not necessarily so if you have an outside MLS agent. Unless the listing agent of a property is showing you a house then they would be representing you as a buyer. a) Most brokerages don't allow dual agency and b) Yes, buyers should sign a Buyer's Brokerage Agreement with their agent and his/her broker.

Lack of ethics? Ouch!

Dual agency is not legal in Florida - buyer's agents are not very common.
It is presumed that all licensees are operating as transaction brokers unless
a single agent or no brokerage relationship is established.

A transaction broker provides limited limited representation to a buyer, a seller, or both, but does not represent either party in a fiduciary capicity or as a single agent.

Coming from a state that has dual and buyer agency I found this very hard to wrap my brain around, but that's the way it is done in Florida. Really takes the pressure off sales agents since they aren't responsible to either party.

2BNTV 02-27-2013 08:39 AM

Quote:

Originally Posted by gomoho (Post 633509)
Dual agency is not legal in Florida - buyer's agents are not very common.
It is presumed that all licensees are operating as transaction brokers unless
a single agent or no brokerage relationship is established.

A transaction broker provides limited limited representation to a buyer, a seller, or both, but does not represent either party in a fiduciary capicity or as a single agent.

Coming from a state that has dual and buyer agency I found this very hard to wrap my brain around, but that's the way it is done in Florida. Really takes the pressure off sales agents since they aren't responsible to either party.

If I understand your post on a pre-owned home:

A VLS agent represents the seller?

A MLS agent represents the buyer?

gomoho 02-27-2013 08:47 AM

No that is not correct - all transactions either VLS or MLS are handled as transaction brokers unless a specific agency relationship is established in writing; however I believe VLS agents are not able to be buyer's agents and you would probably be hard pressed to find an MLS agent that would be a buyer's agent either. Don't know why it works this way - I preferred being a buyer's agent in North Carolina because I was in a fiduciary relationship that allowed me to share everything with my buyer that would be to his advantage when purchasing. But, you can't fight city hall!

2BNTV 02-27-2013 09:03 AM

Quote:

Originally Posted by gomoho (Post 633525)
No that is not correct - all transactions either VLS or MLS are handled as transaction brokers unless a specific agency relationship is established in writing; however I believe VLS agents are not able to be buyer's agents and you would probably be hard pressed to find an MLS agent that would be a buyer's agent either. Don't know why it works this way - I preferred being a buyer's agent in North Carolina because I was in a fiduciary relationship that allowed me to share everything with my buyer that would be to his advantage when purchasing. But, you can't fight city hall!

Thanks for the clarification. :smiley:

BettyCrocked 02-27-2013 09:07 AM

Thanks for all the help. I tried going with Comer, but they are booked solid for 2 weeks. So I went with Harwood. Everything is under control.!

Steve & Deanna 02-27-2013 03:16 PM

We purchaed a 'pre-owned' through The Villages although our home back north had nothing to do with our purchase down here. Our Villages realtor gave us three or four home inspectors to choose from as well as a termite/pest inspectors. We used Lake Sumter Home Inspections located in Lady Lake (phone/fax 352 259 0037). They seemed quite thorough and informative as well as helpful as to what we should have done prior to closing. We also used Integrity Termite Inspections in Inverness (phone 352 344 3370). Our Villages rep did NOT choose one however the choice he gave us was that they were all good and trustworthy as we were previosly renters and newbie owners. Also, we wanted a stand alone deal whereas our northern home would have nothing to do with our home down here financially; much like golf cart insurance, I'd never tie that into our personal auto or homeonwers insurance. Good luck with your purchase, hope this helps and welcome to your bit of heaven. Lovin' The Villages lifestyle as they say.


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