What kind of buyer are you? Represented or Unrepresented?
As a buyer you should become aware of the contracts and forms you will be asked to sign to secure a property. Below are links to some of our Utah Real Estate buyer forms. They are samples to help you become familiar with our Utah Real Estate forms and contracts. Take the time to read and understand them if you are a real estate buyer in Utah. A Utah real estate agent should help you fill them out. Other states have different forms and contracts. Our Utah Real Estate Forms and Contracts have been approved by the Utah Real Estate Commission and the Utah Attorney General. Real Estate agents are required to use them and help you fill them out and sign them.
Unrepresented
A buyer that does not have an agent representing them in the real estate transaction. The sellers agent may facilitate a buyer in writing a contract, if the seller allows. The unrepresented buyer should only share information with the sellers agent that they want the seller to know. The sellers agent is required to tell everything to the seller. If you want to make a low offer do not reveal to the sellers agent if you would actually go higher. The sellers agent is required to tell the seller. The sellers agent is required to treat you honestly and fairly. As an unrepresented buyer you are a customer not a client. No fiduciary relationship exists. Unrepresented buyers are not clients to the sellers agent.
unrepresented buyer disclosure
Represented
The represented buyer has entered into a buyer broker contract with an agent to be represented as a client.
exclusive buyer-broker & agency contract
Forms for both kinds of buyers transactions
What is a limited agent?
An agent that has entered into an agency relationship with the buyer and the seller. Both the Seller and the buyer have to agree to this. In this instance the agent can only tell the parties in the transaction what each has authorized the agent to tell. It can become tricky but it is possible if the buyer and seller understand how this works. The limited agent – the same agent is working as an agent for the buyer and the seller
limited agency consent agreement
The final contract
There will be additional forms you will sign along the way, maybe even counter offers from the seller before you have a complete contract. Real Estate agents help to clarify and sort it all out, keep you on top of important deadlines in your contract. All contracts and forms related to the purchase need to be signed by the buyer and seller. The sellers will have a separate listing contract that will govern their real estate agent.
These forms are COPYRIGHTED by the UTAH ASSOCIATION OF REALTORS® for use solely by its members. Any unauthorized use, modification, copying or distribution without written consent is prohibited. NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DESIRE SPECIFIC LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. These forms are for your reference only to become familiar with them.