Agent’s are requirement to investigate information
- Buying an apartment in Israel
- The real estate broker
The question arises, which is quite often practical – how much information does an agent need to know? Where can the agent get information? Furthermore, how will an agent know that the data collected is “substantial” for the recognition of the property, given the legal requirements for “skill,” “reasonableness,” and “appropriate means”? Where does the boundary cross between a thorough and extensive examination and a work defined as “legal,” in which it may result in violation of Section 12 of the Realtors Law, which restricts it from invading the work that has been communed with a lawyer?
Disclosure of information required regarding exclusivity This matter was expressed in a ruling that addressed this issue, ruled that indeed the duty of good faith obligates each of the parties to the contract to act with integrity, Fairness, and morality while fulfilling the reasonable expectations of the other side of the agreement he faces.