Who has the responsibility to verify information on behalf of the principal when a buyer submits an offer contingent on selling their home?

The correct answer highlights the role of the listing agent in the context of real estate transactions. When a buyer submits an offer that includes a contingency related to the sale of their home, it is essential for the listing agent to verify the information provided. This may involve confirming the status of the buyer's current property, understanding its marketability, and ensuring that all contingencies are clearly stated and understood by both parties.

The listing agent serves as a facilitator in the transaction and has a duty to their seller to ensure that offers are valid and that buyers are capable of completing the purchase. This might include confirming that the buyer's home is under contract, verifying any timelines associated with the sale, and ensuring that the buyer has the financial ability to move forward with the offer if their current home sells.

While the buyer, their attorney, and their broker may all play roles in the transaction, the listing agent is particularly positioned to verify the required information on behalf of the seller, ensuring that the seller can make informed decisions based on the buyer's status. Effective communication and detailed verification from the listing agent help maintain the integrity of the transaction process.