(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:
____________________________________________________________________________________________________________________________________
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.
__________________________________________________________________
Buyer's Name Printed Date Buyer's Signature
__________________________________________________________________
Buyer's permanent address
__________________________________________________________________
Broker's Name Printed Date Broker's Signature
__________________________________________________________________
Broker's Company Company or Individual Phone number
__________________________________________________________________
Company or Individual address of the Broker