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LAKE WALLENPAUPACK
AREA INFO
SCHOOLS
WEATHER |
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CONSUMER NOTICE
Your rights when searching for
Lake Wallenpaupack real estate.
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Your REALTOR® is
required to provide this information for you...it
explains our responsibilities and your rights when
considering working with one of us when searching
for Lake Wallenpaupack real estate here in
Northeastern PA.
THIS IS NOT A CONTRACT
Pennsylvania law requires real
estate brokers and salespersons (licensees) to advise
consumers who are seeking to sell or purchase
residential or commercial real estate or tenants who are
seeking to lease residential or commercial real estate
where the licensee is working on behalf of the tenant of
the business relationships permitted by the real estate
licensing and registration act. This notice must be
provided to the consumer at the first contact where a
substantive discussion about real estate occurs unless
an oral disclosure has been previously provided. if the
oral disclosure was provided, this notice must be
provided at the first meeting or the first time a
property is shown to the consumer by the broker or
salesperson.
Before you disclose any
information to a licensee, be advised that unless you
select an agency relationship the licensee is NOT
REPRESENTING YOU. A business relationship of any kind
will NOT be presumed but must be established between the
consumer and the licensee.
Any licensee who provides you with
real estate services owes you the following duties:
• Exercise reasonable professional
skill and care which meets the practice standards
required by the Act.
• Deal honestly and in good faith.
• Present, in a reasonably
practicable period of time, all offers, counteroffers,
notices, and communications to and from the parties in
writing. The duty to present written offers and
counteroffers may be waived if the waiver is in writing.
• Comply with Real Estate Seller
Disclosure Act.
• Account for escrow and deposit
funds.
• Disclose all conflicts of
interest in a reasonably practicable period of time.
• Provide assistance with document
preparation and advise the consumer regarding compliance
with laws pertaining to real estate transactions.
• Advise the consumer to seek
expert advice on matters about the transaction that are
beyond the licensee’s expertise.
• Keep the consumer informed about
the transaction and the tasks to be completed.
• Disclose financial interest in a
service, such as financial, title transfer and
preparation services, insurance, construction, repair or
inspection, at the time service is recommended or the
first time the licensee learns that the service will be
used.
A licensee may have the following
business relationships with the consumer:
Seller Agency:
Seller agency is a relationship
where the licensee, upon entering into a written
agreement, works only for a seller/ landlord. Seller’s
agents owe the additional duties of:
• Loyalty to the seller/landlord
by acting in the seller’s/landlord’s best interest.
• Confidentiality, except that a
licensee has a duty to reveal known material defects
about the property.
• Making a continuous and good
faith effort to find a buyer for the property, except
while the property is subject to an existing agreement.
• Disclosure to other parties in
the transaction that the licensee has been engaged as a
seller’s agent.
A seller’s agent may compensate
other brokers as subagents if the seller/landlord agrees
in writing. Subagents have the same duties and
obligations as the seller’s agent. Seller’s agents may
also compensate buyer’s agents and transaction licensees
who do not have the same duties and obligations as
seller’s agents.
If you enter into a written
agreement, the licensees in the real estate company owe
you the additional duties identified above under seller
agency. The exception is designated agency. See the
designated agency section in this notice for more
information.
Buyer Agency:
Buyer agency is a relationship
where the licensee, upon entering into a written
agreement, works only for the buyer/tenant. Buyer’s
agents owe the additional duties of:
• Loyalty to the buyer/tenant by
acting in the buyer’s/tenant’s best interest.
• Confidentiality, except that a
licensee is required to disclose known material defects
about the property.
• Making a continuous and good
faith effort to find a property for the buyer/tenant,
except while the buyer/tenant is subject to an existing
contract.
• Disclosure to other parties in
the transaction that the licensee has been engaged as a
buyer’s agent.
A buyer’s agent may be paid fees,
which may include a percentage of the purchase price,
and, even if paid by the seller/landlord, will represent
the interests of the buyer/tenant.
If you enter into a written
agreement, the licensees in the real estate company owe
you the additional duties identified above under buyer
agency. The exception is designated agency. See the
designated agency section in this notice for more
information.
Dual Agency:
Dual agency is a relationship
where the licensee acts as the agent for both the
seller/landlord and the buyer/tenant in the same
transaction with the written consent of all parties.
Dual agents owe the additional duties of:
• Taking no action that is adverse
or detrimental to either party’s interest in the
transaction.
• Unless otherwise agree to in
writing, making a continuous and good faith effort to
find a buyer for the property and a property for the
buyer, unless either are subject to an existing
contract.
• Confidentiality, except that a
licensee is required to disclose known material defects
about the property.
Designated Agency:
In designated agency, the
employing broker may, with your consent, designate one
or more licensees from the real estate company to
represent you. Other licensees in the company may
represent another party and shall not be provided with
any confidential information. The designated agent(s)
shall have the duties as listed above under seller
agency and buyer agency.
In designated agency, the
employing broker will be a dual agent and have the
additional duties of:
• Taking reasonable care to
protect any confidential information disclosed to the
licensee.
• Taking responsibility to direct
and supervise the business activities of the licensees
who represent the seller and buyer while taking no
action that is adverse or detrimental to either party’s
interest in the transaction.
The designation may take place at
the time that the parties enter into a written
agreement, but may occur at a later time. Regardless of
when the designation takes place, the employing broker
is responsible for ensuring that confidential
information is not disclosed.
Transaction Licensee:
A transaction licensee is a broker
or salesperson who provides communication or document
preparation services or performs other acts for which a
license is required WITHOUT being the agent or advocate
for either the seller/landlord or the buyer/tenant. Upon
signing a written agreement or disclosure statement, a
transaction licensee has the additional duty of limited
confidentiality in that the following information may
not be disclosed:
• The seller/landlord will accept
a price less than the asking/listing price.
• The buyer/tenant will pay a
price greater than the price submitted in a written
offer.
• The seller/landlord or
buyer/tenant will agree to financing terms other than
those offered.
Other information deemed
confidential by the consumer shall not be provided to
the transaction licensee.
OTHER INFORMATION ABOUT REAL
ESTATE TRANSACTIONS
The following are negotiable and
shall be addressed in an agreement/disclosure statement
with the licensee:
• The duration of the employment,
listing agreement or contract.
• The fees or commissions.
• The scope of the activities or
practices.
• The broker’s cooperation with
other brokers, including the sharing of fees.
Any sales agreement must contain
the zoning classification of a property except in cases
where the property is zoned solely or primarily to
permit single family dwellings.
Real Estate Recovery Fund exists
to reimburse any person who has obtained a final civil
judgment against a Pennsylvania real estate licensee
owing to fraud, misrepresentation, or deceit in a real
estate transaction and who has been unable to collect
the judgment after exhausting all legal and equitable
remedies. For complete details about the Fund, call
(717) 783-3658.
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ABOUT SANDRA
CONTACT INFO
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| Sandra's Listings |
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Tanglwood Lakes
$249,999 |
Pennwood
$259,900
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Cove Point Club,
$269,900 |
Hemlock Farms
$159,000 |
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Masthope chalet
$200,000 |
Masthope Bi-level
$175,000 |
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Masthope ranch
$184,900 |
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