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What Is The Affiliated Business Disclosure

Visit https://balboateam.com what is the affiliated business disclosure. What's this extra form that finds its way into files, it looks different every time, and agents often get a little bit hesitant about having their clients sign it. Well this form is important because if a company, a real estate brokerage in a transaction, has any interest in another company that's related to a real estate transaction, let's say a real estate brokerage might have interest in an escrow company, or title a company, or a lender, well federal law requires that they disclose this to the parties. So that company is obligated to disclose that they have an interest in another company or some sort of service that might go by another name. The idea is that consumers are made aware of who all the vendors are in their transaction and how that relates to the brokerages representing them. So the form itself is innocuous, it's a harmless form that should be signed just to acknowledge, just so the broker can stay in compliance. It's not that the broker necessarily wants to saddle their agents with an extra form, it's just a way to disclose to their clients affiliated businesses. Get it signed as an annulmen,t and then be in compliance with federal law.