In Hawaii some real estate transactions are between Sellers and Buyers who are both represented by the same real estate broker/firm. Those realtors are called “Dual Agents” because they owe fiduciary duties to both sellers and buyers.
If you really read the Dual Agency Disclosure Form, the brokers explicitly say that they cannot really help either side in the negotiations.
If they cannot do that, and cannot provide you with legal advice, then you’re basically on your own – and yet the Seller has to pay for both commissions.
At that moment in time the seller or the buyer may want to consider hiring an attorney because neither broker is representing anyone’s interest and just want the deal to close on its own so that they can receive their commission.
If you’re caught in this kinds of situation, Contact our law office and get the experienced guidance you need to ensure the deal is a good one. Don’t just take the word of the real estate firm. It could cost you.
More Articles on Hawaii Real Estate Law
- Duties and Responsibilities of the Selling Agent Regarding the Hawaii Seller’s Real Property Disclosure Statement for Hawaii Residential Real Estate
- Hawaii Agreement of Sale
- Hawaii “For Sale by Owner”
- Hawaii Commercial Lease Interest Rate and Usury
- Hawaii Commercial Leases: Issues You Must Consider
- Hawaii Contractors Disclosure Requirements to Hawaii Homeowners
- Hawaii Land Court Petitions Explained
- Hawaii Regular System and Land Court Recording System
- Hiring a Hawaii General Contractor
- Landlords Who Reside Outside of Hawaii Are Required to Have Hawaii Property Managers
- Mandatory Seller Disclosures for Hawaii Residential Real Estate
- Probate of Hawaii Real Estate Owned by Japanese Citizens
- Should a Hawaii Purchase Contract (DROA) Be Used in Purchasing Hawaii Commercial Property?
- Terminating Co-Ownership of Hawaii Real Estate Property
- The Process of Claiming and Attaching a Mechanic’s or Materialman’s Lien in Hawaii
- The Role of Hawaii Attorneys in Purchasing Hawaii Residential Real Estate
- The Security Deposit Under Hawaii’s Residential Landlord-Tenant Code
- Understanding the “As Is” Addendum to the Hawaii Association of Realtor’s Standard Form Purchase Contract
- Using a Letter of Intent in a Hawaii Real Estate Sale or Purchase
- What Is the Hawaii Dual Agency Disclosure Form?
- Why a Landlord Must Tailor the Standard Hawaii Rental Agreement
- Why a Purchaser of Hawaii Real Estate May Want to Delete an Arbitration Paragraph
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- Why Your Surveying Paragraph in a Hawaii Purchase Contract May be Inadequate When Purchasing Hawaii Residential Real Estate