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Prospective Buyer

 

Dear Prospective Buyer:

            Attached is a “Buyer Broker Agreement which establishes New Mexico Real Estate Brokerage Relationships.” The State of New Mexico Real Estate Commission requires that all buyers be given this document prior to a Purchase Agreement being written. In the past, all Real Estate Brokers represented the seller, even when working with a buyer. The exciting news is that this has changed. Buyers can now be represented by a Real Estate Broker at no cost. The seller pays the Real Estate Broker, but all Licensee duties are owed to the buyer.

 

Basic Duties owed to the Buyer are:

 

  1. Honesty and Reasonable care.
     
  2. Compliance with all Local, State and Federal Fair Housing Laws.
     
  3. Presentation of all Purchase Agreements and Counter-Offers.
     
  4. Assistance in complying with terms and conditions of contracts.
     
  5. Acknowledgement by Buyer Broker of matters outside scope of knowledge and recommend Buyer seek expert advice.
     
  6. Prompt accounting of all monies.
     
  7. Buyer Broker to disclose relationship or material interest in property, prior to a Purchase Agreement being written.
     
  8. Disclose any adverse material facts known about the property or transaction.
     
  9. Maintenance of confidential information about Buyer, prior Agency relationships or previous pricing information.

Please review the Buyer Broker agreement I have enclosed.

 

Sincerely,

John & Tracy Ingles

Enclosure: Buyer Broker Agreement

(To print out the entire "Buyer's Packet", please Click Here

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