Listing Agent Responsibilities & Documents

At the Listing Appointment Fill out the following documents:

  1. Agency Disclosure and Disclosure to Represent More Than One Buyer or Seller

Both of these documents must be signed prior to signing the Listing Agreement

  1. Listing Agreement Exclusive Right to Sell
  2. Seller’s Advisory
  3. Seller’s Affidavit
  4. All disclosures relating to the property: TDS- Transfer Disclosure Statement
  5. Smoke and Water Heater Disclosure
  6. Seller’s property questionnaire (optional, but many agents request it)
  7. Lead Based Paint (if property was built prior to 1978)
  8. Earthquake Booklet & statement (if property was built prior to 1960)
  9. Statewide Disclosure
  10. Supplemental Statutory Disclosure
  11. Agent Visual Inspection (optional, but many agents request it)

Order a termite inspection. This will alert the seller to the cost of any termite repairs.

Once you have an offer and escrow is opened order the Natural Hazard Report & Tax Data Report. (You need escrow info when ordering so the NHD company can forward the bill to escrow.) This report will provide the following disclosures:

  1. Supplemental Tax Bill information.
  2. Flood zone
  3. Fire hazard zone
  4. Earthquake fault zone
  5. Seismic hazard zone
  6. Airport / Commercial proximity
  7. Military Ordinance
  8. Megan’s Law
  9. Local Hazards
  10. Radon
  11. Toxic Mold
  12. Farmland / Security Zones

Seller and Listing Agent must sign or initial all documents where indicated.

Listing agent must provide all disclosures within 7 days of acceptance of the offer.

Include the termite report.

BUYER’S PHYSICAL INSPECTION

Seller must have all the utilities turned on for the Buyer’s inspection even if the property is vacant. This is provided for in the purchase contract.

Buyer will have or will waive a physical inspection. If buyer does have a physical inspection, they must provide a copy to the seller. The buyer will make a request to the seller to make needed repairs as evidenced by the inspection. The seller does not have to

complete any of the repairs. This is negotiable between buyer and seller. The purchase contract says the seller does not even have to respond to the buyer’s request. However, this could cause the buyer to cancel.

Seller can shop for the best termite repair prices, but if he does, he must provide a copy of

All termite inspections. Termite usually must be completed prior to closing escrow.

ESCROW

Escrow will require a copy of the purchase contract, any counter offers, and addendums.

Escrow doe NOT want a copy of the disclosures.

You must instruct escrow where to send the escrow instructions to you, or directly to the buyer.

Escrow will order the Preliminary Title Report. They will select the company based on which company was agreed to in the purchase contract.

MANAGEMENT OF THE TRANSACTION

As the listing agent you will want to stay in constant communication with the buyer’s agent to make sure the buyer is getting his loan approved. You will want to call escrow and make sure the buyer is cooperating by signing and returning escrow instructions.

You will also want to make sure your seller is completing his escrow instructions and returning them in a timely manner.

If the buyer is not cooperating, you should send the Buyer’s Agent a ‘Notice to Buyer to Perform’. You should also be sending this document at the end of the buyer’s 17 day contingency period, so the buyer can sign-off his contingencies, and demonstrate that he is making progress and wants to complete the transaction.

At this point you should have a 95% completed file.

You will only need the closing package provided by escrow after the close of escrow.

This package should include; Closing Statement, Home Warranty Receipt, Receipt showing buyer received the CC&R’s, and Termite Completion.