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Evergreen, CO 80439   services@smarthomesearch.org   800-383-7188

 


"Buyer Brokers" are individuals who put together the seller and the buyer.   


  Transaction Broker Employment SAMPLE Agreement


(Caution: this is a sample agreement, please use this only as a template, and seek the advise of an attorney for any legally-binding agreement)

This AGREEMENT, by ___________________________, (known as "Buyer"), hereby employs _____________________(referred to as Broker) commencing on ________, and expiring at midnight on ________, Costa Rican time, and grants exclusive right to locate property and negotiate terms and conditions acceptable to the Buyer for purchase, exchange or option on the Buyer's behalf.


Buyer declares that he or she intends to acquire property for the following general described purpose:


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Broker's Commission Fee: Broker's fee shall be paid at the time of and as a condition of closing, as follows. Minimum fee is $____________.


Fee is a (choose one:)$_________flat fee, or ___% commission fee.


OR, an hourly fee may be paid at the rate of $_____/hour, with ____hours paid in advance, and remaining hours to be paid within ____ hours of work performed.


1. If commission fee, Broker agrees to accept as the amount of his or her fee that percentage of the sales price which is negotiated with the Seller or Seller's agent. The fee shall not exceed ____% of the sales price.


2. If commission fee, Buyer agrees Broker will be compensated out of the total sales price agreed to by the Seller. Fee shall be paid at the closing date only If Buyer or any other person acting for or on behalf of Buyer enters into an agreement to purchase, exchange or option any property of the general nature as described above.


3. Buyer agrees to pay any agreed upon fees if Buyer within _____calendar days after the termination of this agreement enters into an agreement to purchase, exchange or option any property introduced, shown and/or negotiated on behalf of the Buyer by Broker during the term of this agreement.


Broker Fees as payable in the purchase, exchange or optioning of property are not set by law or in any manner other than through negotiation between the Broker, the Seller, and the Buyer herein.


Retainer fee: Buyer agrees to pay a retainer fee in the amount of $_____, payable to Broker after an initial consultation session and prior to the actual showing of property. This fee shall be credited to any other fee(s) or commissions owed to the Broker at closing. This retainer fee is non-refundable, except in circumstances where Broker may terminate this agreement prior to the scheduled expiration date, in which event the Broker shall refund the full amount paid by the Buyer.


Buyer acknowledges and consents to the fact that Broker may represent other buyers who may potentially consider making offers on, or acquire an interest in the same or similar properties as the Buyer herein is interested in.


Buyer's Duties: In consideration of Broker furnishing time and effort during the specific time frame agreed to above, Buyer agrees to work exclusively with Broker on the properties that Broker physically shows Buyer during the agreement time frame, and not concurrently work with any other Brokers. Buyer agrees to provide upon request, the necessary information to assure Buyer's ability to acquire property as described above. Buyer agrees to view the above described property and to negotiate in good faith to acquire same.


Buyer acknowledges that many new home builders, developers or brokers who have shown property to the Buyer in the past will likely not wish to transfer compensation to a different Broker if that Broker was not the first one to accompany the Buyer to the property.


Agreement Disputes: Any dispute or claim in law arising out of this Agreement shall first be submitted to mediation in accordance with rules and procedures of a recognized local Dispute Resolution Association as a mediation provider.


Attorney's Fees: In any action, proceeding or arbitration arising out of this Agreement, the prevailing party shall be entitled to reasonable attorney's fees and costs.


Both the Broker and the Buyer agree to abide by the laws of Costa Rica.


Entire Agreement: This Agreement and any addenda signed by the parties shall constitute the entire agreement between the Buyer and Broker and shall supersede any other written or oral agreements that may have been between Buyer and Broker. This Agreement can be modified only in writing and signed by both parties.


This Agreement may be terminated at any time prior to scheduled expiration by either party hereto delivering written notice of such intent to the other party.


Acceptance: Buyer hereby agrees to all of the terms and conditions herein and acknowledges receipt of a copy of this Agreement.


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Buyer's Name Printed Date Buyer's Signature


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Buyer's permanent address


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Broker's Name Printed Date Broker's Signature


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Broker's Company Company or Individual Phone number


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Company or Individual address of the Broker