Seller's Guide Provided by Bold Coast Properties
Before you begin working with a real estate licensee it is important for you to understand that Maine Law provides for different levels of brokerage services to buyers and sellers.
While Bold Coast Properties provides brokerage services to both buyers and sellers, the agency’s policy is to represent sellers only. If you want a licensee to represent you, you will need to enter into a written listing agreement, thus becoming a client.
To disclose all material defects pertaining to the physical condition of the real estate that are known by the licensee;
To treat both the buyer and seller honestly and not knowingly give false information;
To account for all money and property received from or on behalf of the buyer or seller;
To comply with all state and federal laws related to real estate brokerage activity;
To perform the terms of the written agreement with skill and care;
To promote your best interests (this means the agent will put your interests first and negotiate for the best price and terms for you); and
To maintain the confidentiality of specific client information, including bargaining information.
Some of the marketing avenues Bold Coast Properties uses in addition to the website are DownEast Multiple Listing Service, The Real Estate Book (and its numerous affiliates), Realtor.com, DownEast Magazine, and local publications.
A seller must disclose material defects about the property.
Typically, a seller would make these disclosures on a Property Disclosure Form.
By disclosing all problems upfront, the seller can avoid the surprise that many times provokes a lawsuit.
A seller must disclose information about the water supply, wastewater disposal, heating systems/sources, and any hazardous materials.
The seller must also provide the buyer with information regarding arsenic in well water and treated wood.