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RM Reports / RM Warehouse

Weekly Word Wizard – Disclosure

RealtyMyths Weekly Word Wizard -Disclosures

Welcome back to weekly word wizard ! This week, we will discuss about Disclosure.

Disclosures

  • Disclosure and Informed Consent: Establishes the relationship between client and agent in writing, and discloses the agent’s ties to a broker or agency.
  • Property Condition Disclosure Form: The seller produces the property condition disclosure form to the buyer, disclosing any defects or damage to the structure or surrounding areas of the property.
  • Truth-in-Lending Disclosure: The bank’s legal obligation to respond to a buyer’s loan application, detailing the loan repayment schedule and amount, plus fees and interest, within three business days.
  • Title Insurance: The buyer typically pays for title insurance to protect the lender or homeowner from any undisclosed ownership claims or fraud related to the property in question.

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