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Date Created: 12/22/15
EXCLUSIVE RIGHT TO BUY BUYER AGENCY CONTRACT 1 APPOINTMENT OF BROKER By this contract quotBuyerquot appoints Broker in Charge of Company quotBrokerquot as Buyer39s exclusive agent subject to the terms and conditions stated in this Contract By appointing Broker as Buyer39s exclusive agent Buyer agrees to conduct all negotiations for the types of property described in Section 2 below through Broker and refer to Broker all inquiries made to Buyer about such properties from other brokers salespersons sellers and others during the term of this contract quotNegotiationquot as used in this agreement shall mean property shown negotiated or information requested by Buyer through Broker 2 PURPOSE OF AGENCY Buyer desires to purchase or lease real property which may include items of personal property described as follows Type D Residential Commercial Industrial Vacant Land D Other General Description Approximate Price Range General Location Preferred Terms Other 3 BROKER39S DUTIES a The Broker shall provide to Buyer a meaningful explanation of agency and shall use Broker39s professional real estate knowledge and skills to represent the Buyer in a diligent and effective manner and to locate property which is available for purchase or lease and suitable to the Buyer b if the Broker is not representing the seller the Broker shall represent solely the interest of the Buyer in all negotiations and transactions regarding the acquisition of real property and repudiate any agency or subagency relationship with the seller or the company representing the seller and shall not claim the subagency compensation offered to the selling broker in the Multiple Listing Service c if the Broker represents the seller as well as the Buyer ie disclosed dual agency the Broker shall not disclose to the Buyer information obtained within the confidentiality and trust of the fiduciary relationship with the seller nor disclose to the seller information similarly obtained from the Buyer without the consent of the party adversely affected by the disclosure d the Broker may represent other buyers who may be interested in the same property as the Buyer Upon the termination or completion of this agreement Broker shall keep confidential all information received during the course of this agreement which was made confidential by written request or instructions from the client except as provided for under South Carolina law Broker represents that Broker is duly licensed under the laws of the State of South Carolina as a real estate broker Broker will use his best efforts as Buyer39s agent to locate property of the type described in Section 2 of this contract and to negotiate acceptance of any offer by Buyer to purchase or lease such property During the term of this Contract Broker will give Buyer information describing and identifying properties that appear to Broker to substantially meet the conditions set forth in Section 2 4 BUYER39S DUTIES BUYER AGREES TO A Work exclusively with Broker and its Affiliated licensees during the term of this agreement by 1 viewing any property previewing etc only with Broker or Broker39s designated representative and not with another real estate broker salesperson or seller and 2 exclusively allowing Broker or Salesperson to identify property negotiate for Buyer and othenNise to represent Buyer and 3 referring to Broker all inquiries received in any form from any other real estate broker or affiliated licensees and 4 holding Broker harmless from liability as a result of incompleteinaccurate information provided to Broker by Buyer or Seller 5 holding Broker harmless from liability as a result of Seller39s failure to provide a complete Seller39s Property Condition Disclosure statement and 6 indemnifying Broker against all claims damages losses expenses or liability arising from the handling of earnest money by anyone other than Broker B Assist Broker and its Affiliated Licensees in the process of identifying negotiating and contracting to purchase lease or otherwise acquire by 1 providing Broker with reliable information including financial information and written authorization to obtain verification of funds that Broker deems necessary for the performance of this Agreement and 2 making himself available to meet with Broker and to see properties in order that the Broker will be able to perform the promises of the Brokerage Engagement C Provide Broker and its Affiliated Licensees the following information 1 general nature location and requirements of desired property and 2 price range and other terms and conditions relating to desired property D To authorize Buyer39s attorneys and the settlement agent to furnish to Broker copies of the final HUD1 settlement statement for the transaction prior to the closing date BUYER BUYER BROKER HAVE READ THIS PAGE PAGFEOFmolF30 1 4 KellerWilliams Realty 1800 Paris Avenue Port Royal SC 29935 Phone 843 524 5959 Fax 843 524 5454 Walter Mays Jr Gary Latson Produced with ZipFormTM by RE FormsNet LLC 18025 Fifteen Mile Road Clinton Township Michigan 48035 800 3839805 www2ipformcom 5 COMPENSATION OF BROKER Brokers fees will be deemed earned when Buyer is under contract to purchase any property presented by Broker or negotiated by Buyer This fee will be due and payable at closing or upon Buyer39s default If Buyer defaults the total compensation that would have been due Broker will be due and payable immediately in cash from the Buyer In consideration of the services performed by Broker under the terms of this Contract Buyer agrees to pay Broker the following fees CHECK ALL APPLICABLE SECTIONS I a Retainer Fee Buyer will pay Broker a nonrefundable retainer fee of due and payable upon the signing of this contract This fee I shall or I shall not be credited against the Brokerage fee I b Service Fee Buyer shall pay Broker a Service Fee of to be paid on whether or not Buyer purchases any property Check applicable subsection D This Service Fee shall be the only fee due Broker from Buyer under the terms of this Contract D This Service Fee shall be credited against the Brokerage Fee described in subsection c below and shall be kept by Broker whether or not a Brokerage Fee is earned I This Service Fee shall be credited against the Brokerage Fee described in subsection c below and shall be kept by Broker whether or not a Brokerage Fee is earned unless Buyer enters into a purchase and sale agreement In the event that Buyer enters into a purchase and sale agreement Buyer and Broker agree that the above Service Fee will be credited against the Brokerage Fee as defined below Cl C Brokerage Fee Buyer shall pay Broker a Brokerage Fee which is the greater of or of the purchase or total lease price renewal if applicable of any property purchased or leased by Buyer including quotFor Sale by Ownerquot properties If within days after the expiration of this Contract Buyer purchases or leases any property which Broker has negotiated during the term of this Contract Buyer will pay Broker the Brokerage Fee stated above Broker shall use his best efforts to obtain payment of the Brokerage Fee out of the transaction but Buyer shall have the obligation to pay Broker the Brokerage Fee set forth in this Contract if Broker cannot obtain payment of such fee out of the transaction Any fees paid by the seller or seller39s agent shall be credited against the Brokerage fee I d Brokerage Fee Broker shall obtain payment of the Brokerage Fee out of the transaction Broker shall be paid by the cooperating broker as stated in the Multiple Listing Service or as agreed to by the Broker and cooperating broker or as agreed to by the Broker and Seller in a quotFor Sale By Ownerquot transaction Buyer shall not be responsible for paying Broker the Brokerage fee 6 TERM OF AGENCY Broker39s authority to act as Buyer39s exclusive agent under the terms of this Contract shall begin on and shall end at 1159 pm on 7 CONSENT TO DISCLOSED DUAL AGENCYDESIGNATED AGENCY INITIAL APPLICABLE CHOICES Buyer acknowledges receiving an explanation of the types of agency relationships that are offered by brokerage and an Agency Disclosure Form at the first practical opportunity at which substantive contact occurred between the Broker and Buyer Buyer acknowledges that after entering into this written agency contract agent might request a modification in order to act as a dual agent or a designated agent in a specific transaction If asked Permission to act as a dual agent will not be considered Permission to act as a dual agent may be considered at the time I am provided with information about the other party to a transaction If Buyer agrees Buyer will execute a separate written Dual Agency Agreement Permission to act as a designated agent will not be considered Permission to act as a designated agent may be considered at the time I am provided with information about the other party to a transaction If Buyer agrees Buyer will execute a separate written Designated Agency Agreement 8 OTHER POTENTIAL BUYERS Buyer understands that other potential buyers have entered into similar agency contracts with Broker which may involve the purchase or lease through Broker of the same or similar property or properties as Buyer is attempting to purchase or lease Buyer consents to Broker39s representation of such other buyers I BUYER BUYER BROKER HAVE READ THIS PAGE Form 130 PAGE 2 OF 4 Produced with ZipFormTM by RE FormsNet LLC 18025 Fifteen Mile Road Clinton Township Michigan 48035 www2ipformcom Wa1ter Mays Jr 9 INDEMNIFICATION OF BROKER Buyer promises to disclose to Broker whether Buyer has signed any agency agreement with any other Broker or has been given prior information about any property that is the subject of this Contract by any other Broker or salesperson or has previously been shown any such property by any other broker or salesperson lf Buyer fails to tell Broker about such other broker39s or salesperson39s involvement and Broker incurs any loss or damage as a result of any claim being brought against him on account of such involvement due to no fault of Broker then Buyer shall pay Broker all such losses and damages incurred by Broker because of such claim 10 DISCLOSURE OF BUYER39S IDENTITYCONFIDENTIALITY The Broker I does or I does not have the Buyer39s permission to disclose Buyer39s identity to all property owners and other third parties The Buyer is advised of the possibility that seller or seller39s agent may not treat the existence terms or conditions of offers as confidential unless confidentiality is required by law regulation or by confidentiality agreement of the parties 11 NONDISCRIMINATION Broker and Buyer agree that all actions carried out under this contract shall be in full compliance with local state and federal fair housing laws against discrimination on the basis of race creed color religion national origin sex familial status marital status age or disabilities 12 PROFESSIONAL COUNSEL Buyer acknowledges that Broker is being retained solely as a real estate agent and not as an attorney tax advisor lender appraiser surveyor structural engineer home inspector or other professional service provider Buyer agrees to seek professional advice concerning the condition of the property legal tax and other professional service matters 13 MEDIATION CLAUSE Any dispute or claim arising out of or relating to this Agreement the breach of this Agreement or the services provided in relation to this Agreement shall be submitted to mediation in accordance with the Rules and Procedures of the Dispute Resolution System of the NATIONAL ASSOCIATION OF REALTORS Disputes shall include representations made by Buyer or Broker in connection with the services to which this Agreement pertains including without limitation allegations of concealment misrepresentation negligence andor fraud Any agreement signed by the parties pursuant to the mediation conference shall be binding This mediation clause shall survive for a period of 120 days after the date of the closing 14 SEX OFFENDER REGISTRY INFORMATION The Buyer and Broker agree that during the course of the agency relationship referred to in the above mentioned agreement the Broker and all affiliated agents shall not be responsible for obtaining or disclosing any information contained in the official South Carolina Sex Offender Registry The Buyer understands that no course of action may be brought against the Broker or his affiliates for failing to obtain and disclose information contained in the official South Carolina Sex Offender Registry The Buyer understands and agrees that the Buyer shall be responsible for obtaining any such information The Buyer understands that Sex Offender Registry information may be obtained from the local Sheriff39s Department or other appropriate law enforcement officials 15 ENTIRE BINDING AGREEMENT This written instrument including the additional terms and conditions set forth on the reverse expresses the entire agreement and all promises covenants and warranties between the Buyer and Broker It can be changed only by a subsequently written instrument signed by both parties 16 CONTINGENCIES 17 FACSIMILE AND OTHER ELECTRONIC MEANS The parties agree that this Agreement may be communicated by use of a fax or other secure electronic means including but not limited to electronic mail and the internet and the signatures initials and handwritten or typewritten modifications to any of the foregoing shall be deemed to be valid and binding upon the parties as if the original signatures initials and handwritten or typewritten modifications were present on the documents in the handwriting of each party BUYER BUYER BROKER HAVE READ THIS PAGE Form 130 PAGE 3 OF 4 Produced with ZipFormTM by RE FormsNet LLC 18025 Fifteen Mile Road Clinton Township Michigan 48035 www2ipformcom Wa1ter Mays Jr THIS IS A LEGALLY BINDING AGREEMENT BUYER SHALL SEEK FURTHER ASSISTANCE IF THE CONTENTS ARE NOT UNDERSTOOD BUYER AND BROKER ACKNOWLEDGES RECEIPT OF A COPY OF THIS AGREEMENT BUYER AGREES TO RECEIVE COMMUNICATIONS FROM BROKER AT THE EMAIL ADDRESS PHONE AND FAX NUMBER LISTED BELOW Email BUYER Date Time phone Fax Email BUYER Date Time phone Fax BUYER Address BY BROKERBUYER39S AGENT COMPANY BrokerLicensee Date Time The foregoing form is available for use by the entire real estate industry The use of the form is not intended to identify the user as a REALTOR REALTOR is the registered collective membership mark which may be used only by real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS and who subscribe to its Code of Ethics Expressly prohibited is the duplication or reproduction of such form or the use of the name quotSouth Carolina Association of REALTORS quot in connection with any written form without the prior written consent of the South Carolina Association of REALTORS The foregoing form may not be edited revised or changed without the prior written consent of the South Carolina Association of REALTORS 2006 South Carolina Association of REALTORS 106 Form 130 PAGE 4 OF 4 Produced with ZipFormTM by RE FormsNet LLC 18025 Fifteen Mile Road Clinton Township Michigan 48035 www2ipformcom Walter Mays Jr
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