Updated December 27, 2022
A Delaware buyer agency agreement allows a licensed agent and their client to construct terms regarding agency representation for a real estate transaction. The buyer will describe the type of property they’re interested in by defining their geographical area of preference in combination with their financial limitations. With the buyer’s needs established, the agent can set forth provisions such as the contract duration and payment information. After the terms have been established and the agreement has been signed, the agent will have the authorization to present buying opportunities to the client and make offers when requested.
Disclosures
Consumer Information Statement (§ 2938) – If the real estate transaction involves a 1-to-4 family residential property, the consumer information statement must be reviewed by the buyer and signed.