Who has $200 to $1,000 to spare these days? The Georgia Real Estate Commission is cracking down on a variety of “falsifications”, and you could receive a fine of thousands of dollars for committing only ONE of the following:
- Fill in your company and the amount of earnest money in Par. 4, but don’t actually collect the personal check, money order or certified funds from the buyer yet. Did the buyer fax you a copy of the check he intends to mail to you? Sorry, but that won’t be accepted for deposit by the bank. Oh, and be ready to pony up the amount of the earnest money, too, just in case the buyer doesn’t provide it to you later.
- Check “IS representing the Buyer” in Par. 13.A.3 but don’t get the Buyer to actually sign an Exclusive Buyer Brokerage Agreement first. Hey, they’re your friend and been riding in your car; that’s enough to establish an agency relationship, isn’t it? (more…)