When should a buyer's broker complete the Notice of Disclosure?

The Notice of Disclosure is a crucial document in real estate transactions, particularly in the context of buyer's representation. A buyer's broker should complete the Notice of Disclosure before the purchase price is accepted by the seller to ensure that all pertinent information regarding the property is disclosed and that the buyer is fully informed prior to making a commitment. This timing allows the buyer to consider any disclosures that may impact their decision or negotiation strategy before the agreement is solidified. By completing the notice at this stage, the broker helps protect the buyer's interests and ensures compliance with ethical and regulatory standards established by the OACIQ.

The timing is significant because once the purchase price is accepted, the buyer may feel more committed to the deal, potentially making them less likely to address any concerns that might arise from the disclosures. Thus, providing this information beforehand is key in supporting a transparent and informed transaction process.