Disclosures and Representations o The LB shall not make any warranties or representations concerning the condition of any property. o The LB shall not attempt to negotiate sales or contract terms on behalf of Raine or HUD o The LB shall make all disclosures concerning fiduciary representation as required by State or local law o The LB shall prepare any disclosure statements required by State or local law for Raine to execute, including information about Point of Sale inspection ordinances where applicable. Training Raine will assign listings electronically. This electronic assignment is the LLB's authorization to market and advertise each property to comply with the terms of this master listing agreement. The LB is responsible to learn and utilize the electronic systems, websites and portals that Raine provides including but not limited to YARDI P260, RAMP and , HUDHomesStore, etc. LLB is required to attend or view all Raine offered training courses and update courses regarding changes to procedures, marketing, and expectations. LLB will not disclose, publish, release, transfer or make otherwise available training materials or any confidential information within to any other person or entity in any form, except such training or information identified as Train the Trainer. Broker is authorized to release such information to relevant employees, agents, and contractors, only to the extent that it is necessary for the performance of duties in this Agreement. Buying and Selling of HUD owned properties HUD-owned properties cannot be purchase by the LB, an immediate family member, their agents, employees or agents/employees of an affiliated entity. Violation of this policy is grounds for immediate termination of this Listing Agreement and possible deactivation of the LB NAID. Listing Brokers are permitted to sell the homes they list, except where prohibited by state or local law. All disclosures to all parties concerning dual representation must be made as may be required by state or local law. In the event an LB is required to assist a Non-HUD Registered Agent in completing a Sales Contract and Bid Submission, any shared commissions must be handled in an ethical manner, where the terms of the split commission are fully disclosed and agreed upon in writing by both parties. The LB is required to explain to the Non-HUD Registered Agent how he/she can become HUD-Registered and obtain a NAID in the future submit bids on his/her own. Co-brokering agreements must be approved in advance by Raine. Co-b...
Disclosures and Representations
