Disclosure regarding being a licensed real estate salesperson

[promortplanner]

I recently posted about working with people who are in preforeclosure and wanted to follow up with a few comments about disclosure. You must always remember to disclose the fact that you are a licensed real estate salesperson and if working with financially distressed people - make sure that no agency relationship has been formed between you and the person. If not properly addressed and disclosed, you could put your license and career on the line without thinking anything wrong. I would love to hear comments about peoples experiences regarding agency disclosure and what kind of forms they use to cover themselves if going out into the field and engaging in preforeclosure investments.

[ckoback]

I cant speak for all states but in maryland you MUST disclose this. I have also been informed when a client is in distress and loosing the home there is a 10 day right to cancel after closing.

[OregonLO]

you MUST disclose this in Oregon as well. I think you are going to have to in most states. Since I'm a Loan Originator I'm wondering if I have to disclose anything. My partner and I are about to contact some people who are in foreclosure and see if we can't buy their home from them.