Foreclosure Buyer(s) Brokerage Agreement
This agreement made on _____________, 20__ between _____________________________________________________(Buyer(s) and RB Realty (Broker) for the purpose of purchasing Foreclosure real estate wherein RB Realty is hired by Buyer(s) as Buyer(s) Exclusive Agent (Exclusive Right To Represent).
Buyer(s) understands that purchasing Real Estate is a highly risky and volatile investment strategy. Buyer(s) understands that all monies spent on Real Estate purchases may be lost and Buyer(s) may never actually receive any monetary return on initial or subsequent investments. Money invested by Buyer(s) in Real Estate should be monies that Buyer(s) can afford to invest with the likely hood that their money may be lost and profit never realized.
1 Scope Of Coverage. Buyer(s) acknowledges that Broker will present to Buyer(s) Real Estate properties for Buyer(s) examination, selection and purchase. These properties may be made available to Buyer(s) via Web sites, e-mails, tours, personal inspection previews, pictures or other methods currently used by Broker. For properties disclosed to Buyer(s) via these sources Buyer(s) agrees to pay Broker a commission. The extent of this agreement applies to partners, friends, associates, spouses, family and others Buyer(s) come in contact with and divulge the extent of knowledge learned about real estate through RB Realty sources.
2 Commission Buyer(s) acknowledges that Broker is to receive a commission that is negotiable per transaction but generally not greater than 6% for services rendered to Buyer(s). This commission may be paid by Seller, another Broker, Title Company or from Buyer(s).
In many cases the price of the property may be increased to cover Brokers commission.
3 Buyer(s) Right to Attend Sale Buyer(s) understands that Buyer(s) is employing RB Realty to represent Buyer(s) and Buyer(s) need not attend Sales, Auctions or Events where properties are purchased
4 Brokers Release From Liability Buyer(s) understands that the very nature of the properties to be purchased are in a very high risk category. Broker makes no warranties to the condition of title, condition of the property, future salability or the remote possibility of Buyer(s) ever renting, selling or making a dime from the purchased property.
5 Management Agreement Buyer(s) if purchasing properties under a long guaranteed income stream scenario with Broker agrees to allow Broker to Manage Properties for the time period covered under the long term agreement and that this
agreement does not represent a tying agreement of Real Estate activities under the Sherman Anti Trust Act.
6 Delivery of Purchase Funds to Broker Upon intention of Buyer(s) to purchase properties Buyer(s) is to provide a Cashiers Check to Broker made out to the Payee as directed by Broker. Buyer(s) understands that Broker is working with many clients similar to Buyer(s). It is not the intent of the Broker to create "bidding" wars amongst Brokers Clients, therefore the first Buyer(s) to deliver funds to Broker will determine Brokers representation of Clients in purchasing properties. Buyer(s) consents and acknowledges that other potential Buyer(s)s represented by Broker may consider, make offers on, or acquire an interest in the same or similar properties as Buyer(s) is seeking.
7 Compensation To Broker If Buyer(s) purchases an identified property through another Broker of as an Individual representing themselves they agree to pay RB Realty (Broker) a commission equal to 25% of the final purchase price for diligence done by RB Realty in locating said property.
8 Equal Housing OPPORTUNITY: It is the policy of the Broker to abide by all local, state, and federal laws prohibiting discrimination against any individual or group of individuals. The Broker has no duty to disclose the racial, ethnic, or religious composition of any neighborhood, community, or building, nor whether persons with disabilities are housed in any home or facility, except that the agent may identify housing facilities meeting the needs of a disabled Buyer(s).
9. Mediation/ Arbitration: The Broker and Seller hereby agree that any dispute concerning the terms and conditions of this contract shall be resolved through mediation and arbitration proceeding at the GLVAR in accordance with the standards of practice of the National Association of REALTORS. If a lawsuit is instigated it shall be stayed until the dispute is revolved or terminated in accordance with this paragraph.
10. Attorney Fees: In the event suit is brought by either party to enforce this Agreement, the Buyer(s) agrees to Pay Brokers court costs and attorney's fees.
11. Nevada Law Applies: This Agreement is executed and intended to be performed in the State of Nevada, and the laws of Nevada shall govern its interruption and effect. The parties agree that the State of Nevada, and the county in which the property is located, is the appropriate judicial forum for any litigation, arbitration or mediation related to this Agreement
12. Capacity: Buyer(s) warrants that Buyer(s) has the legal capacity, full power and authority to enter into this Agreement and consummate the transaction contemplated hereby on Buyer(s)'s own behalf or on behalf of the party Buyer(s) represents.
13. Entire Contract: All prior negotiations and agreements between the parties are incorporated in this Agreement, which constitutes the entire contract. Its terms are
intended by the parties as a final, complete, and exclusive expression of their agreement with respect to its subject matter and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. This Agreement and any supplement, addendum, or modification, including any photocopy of facsimile, may be executed in two or more counterparts, all of which shall constitute one and the same writing. The term of this Agreement may not be amended, modified or altered except through a written agreement signed by all of the parties hereto.
14. Partial Invalidity: In the event that any provision of this Agreement shall be held to be invalid or unenforceable, such ruling shall not affect the validity or enforce validity of the remainder of the Agreement in any respect whatsoever.
15. Acceptance: Buyer(s) hereby agrees to all terms and conditions herein and acknowledges receipt of a copy of this Agreement.
BUYER(S):__________________________________________________
BUYER(S) __________________________________________________
Date ________________20 _____.
Telephone ____________________Fax ______________ E-Mail__________________
Address ____________________________________
City _____________________State_________ Zip__________
BROKER RB Realty-Richard W. Byrd
Date __________________20 __.
Telephone 702-440-4636 Fax 702-798-4636 E-Mail rick@rbrealty.info
Company RB Realty Address 375 E. Warm Springs 104-6 Las Vegas, Nv. 89119
Broker Signature Richard W Byrd
Designated Licensee____________________________