While reviewing a transaction in Pinal County, the buyer's agent is holding earnest money instructions and transaction documents for the buyer. Which statement should the broker communicate?
Correct Answer
A) a buyer's agent owes accounting and proper handling duties with respect to money and documents entrusted in the transaction
Under A.A.C. R4-28-1101; Arizona brokerage practice, a buyer's agent owes accounting and proper handling duties with respect to money and documents entrusted in the transaction.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
More Az Agency Disclosures Questions
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