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6 Legal Duties Every Estate Agents In Canary Wharf Should Follow
Are you one of the UK citizens still confused whether to approach estate agents or not? Though they can help you save a bulk amount, you can’t trust them enough. Keep all your worries at bay. Every broker residing in Canary Wharf or nearby areas has to follow certain legal duties imposed on them. Negligence to do so can cost them dearly. Few of those are stated as follows.
• All vital information is given in written form, starting from the initial undertaking to complete management of the property.
• Their agreement should explain in details their professional services and steps that will be taken under certain situations.
Law Of Obedience
• Brokers should make reasonable effort to ascertain that a prospective tenant is genuine while introducing them.
• This duty being a vital one holds the highest penalty for all estate agents in E14, Docklands, and E16.
Law Of Care And Skill
• They are responsible for instructing the tradesman to undertake all the repairs necessary.
• An absentee landlord can rely on the broker to perform their duties diligently.
Law Of Repair/ Despair
• Estate Agents of Canary Wharf should never allow the interest of a third person or their own interest conflict with the interest of their client.
• Negligence to do so can make the principal cancel the transaction and claim back the profit earned by them.
Law Of Loyalty
• A broker should not entrust the performance of the agency on another person.
• This rule was started as the client already places confidence on a broker while appointing them.
Law Of Personal Performance
• They are accountable for all money paid to them and require to pay it over to the principal or the third party.
• It is their duty to accurately maintain accounts of all the dealings done by him on behalf of the principal.
Law Of Account
This being said all confusions you had regarding whether to appoint an estate agent or not has being cleared. So appoint a reliable one and make the most of it. For more information visit https://goo.gl/O7Ri3S.
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