Mortgage Agents In Ontario
July 26th, 2010
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What obligation does a listing agent have to obtain sellers Mortgage info and any liens on home?
I live in Ontario, Canada.
If the listing agent does not gather morgage info/liens, can they be held liable if seller accepts a price that is too low and deal falls through?
No, they are not liable. Obtaiing information on liens falls on lenders and title companies, not RE agents.
The agent does have to disclose that the offer is a short sale though. 90% of them fall through.
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