In fact it’s one of the best tools to protect purchasers and get the most of a real estate broker’s experience and knowledge, and by the same token guide you in choosing a property that meets your criteria and your budget.
The purchaser without a BCP must know that he cannot be represented by the listing broker but that he will nevertheless be entitled to fair treatment. The broker who takes out a promise to purchase without being under contract with the purchaser works ”de facto” for the seller. This means that this broker cannot advise, guide or negotiate the price for the buyer.
The BCP is not mandatory but is advantageous for purchasers since it specifies the bases on which his broker will act with regard to his rights and interests and allows him to choose a dedicated broker who fully understands his needs and criteria and who can advise him judiciously.
For more details ask your broker or contact me Lucyne Farand: 514.952.96316 or lfarand@royallepage.ca
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