GreenTree Buyer Agency Agreement
This Buyer Agency Agreement is made between you, the buyer/client(s) and a Buyer's Agent(s) affiliated with GreenTree Real Estate Services.
Buyer/Client(s)
Buyer's Agent
This agreement is effective on (Effective Date) and shall expire on (Expiration Date). This agreement sets the terms of our relationship.
Compensation
Commission for real estate services is solely a matter of negotiation and is not fixed, controlled, recommended, or maintained by the state, the association of Realtors, the listing service, or any party not part of the contract.
Per Showing: In addition to the compensation for Buyer's Agency services, there is additionally a $ charge per showing which shall be due to GreenTree Real Estate within days of the showing in the form of a check.
For each property subject to this agreement, the compensation for the Buyer's Agency services is % of the final contract sales price of the individual property, or $ .
Compensation to be paid at the time of closing of each transaction completed under the terms of this agreement. With the exception of any showing charge, if you do not purchase a property, you do not owe a compensation. If the compensation cannot be secured from the seller or seller's agent, you (Buyer/Client) are responsible for paying the compensation for the Buyer's Agent services.
Other Terms
Office Policy
Buyer acknowledges that they have received/read a copy of the GreenTree Office Policy. GreenTree charges a $150 fee at closing for document handling and storage.
Legal Disclaimer
Buyer acknowledges that the Buyer's Agent is not a professional or expert in matters of law, financing, taxes, property conditions, and/or inspections. In addition, GreenTree Real Estate recommends that you (the buyer/client) seek expert assistance for advice on such matters. GreenTree Real Estate makes no warranty or guarantee concerning the service of such experts, the condition of the property, or the suitability of such property for the buyer's purposes.
Buyer(s) Initial:
Agent Responsibilities
- The Buyer's Agent acknowledges that they currently hold a valid Real Estate license.
- The Buyer's Agent owes duties of trust, loyalty, confidentiality, accounting, and disclosure to the buyer. The Buyer's Agent shall promote the Buyer's best interests.
- The Buyer's Agent will take reasonable steps to help find your desired property and give you information about a property you are interested in pursuing.
- The Buyer's Agent will comply with all federal and state laws including Fair Housing.
- The Buyer's Agent will help prepare an offer for you, including all necessary documentation and guide negotiations.
- The Buyer's Agent will keep you informed during the search and throughout a transaction.
- The Buyer's Agent will advise you to seek appropriate expert advice regarding material matters beyond their expertise.
Buyer/Client Responsibilities
- You agree to contact the Buyer's Agent for all showing appointments so they can schedule with the appropriate party, including "For Sale by Owner" FSBO properties.
- Inform the Buyer's Agent before contacting a builder and register me as your Buyer's Agent with any home builder you contact.
- Submit any and all offers through your Buyer's Agent.
- Be reasonably available for showings and consultation appointments.
- Comply with the terms and timelines of any accepted purchase contract.
- Conduct all due diligence necessary in order to purchase a property.
- Buyer/Client represents that, as of the Effective Date of this agreement, they are not a party to another Buyer Agency Agreement with another brokerage or agent.
Buyer(s) Initial:
Dispute Resolution
All parties to this agreement agree, that for any dispute that arises related to this agreement, the parties will first seek to mutually resolve in good faith in a timely manner. If unable to resolve it, the parties will then seek mediation with a qualified mediator, with each party paying their own expenses, and finally if there is still a dispute, the parties will seek arbitration with a qualified arbitrator, to be held within the State of Indiana or Kentucky, with each party paying for their own expenses.
A party must take action to resolve any dispute within 365 days of the discovery of the matter prompting the dispute or 365 days after the Expiration or Termination of this agreement. Otherwise, the parties agree to hold one another harmless without any further liability or claim.
Hold Harmless
The Buyer's Agent acknowledges that they are not a mortgage lender, title attorney, property inspector, nor do they give financial or legal advice. You (Buyer/Client) must perform and be responsible for all property due diligence and compliance with any purchase contract terms. Unless otherwise agreed to in writing by the parties in this agreement, the Buyer's Agent does not possess any particular expertise that extends beyond my real estate license. You (Buyer/Client) agree to hold me and GreenTree Real Estate Services harmless for: all matters related to property due diligence, property inspections, the condition of the property, compliance with purchase contract terms, payment for the property, liability related to any lawsuit or enforcement action against you, market conditions, and/or price fluctuations. GreenTree Real Estate and the Buyer's Agent are responsible for matters related to our real estate license.
Calendar Days
Concerning this agreement, all days are calendar days that end at midnight.
Other Buyers/Clients
You (Buyer/Client) acknowledge that the Buyer's Agent may represent other buyers during the dates of this agreement that may have similar interests to you. However, they will not submit an offer for another buyer who wants to make an offer on a property that you intend to make an offer on. The Buyer's Agent will inform you if any conflicts related to your representation of multiple buyers arises.
Notices
Notices related to this agreement, including any amendments or alterations are to be submitted in writing to all parties using the contact information above. The Managing Broker of GreenTree Real Estate Services is Mark Hack, contact number: 502-930-0727.
Fee Disclaimer
No fee, compensation, commission, or other consideration has been fixed by any governmental authority or by any trade association, or multiple listing service. Agents affiliated with GreenTree Real Estate base the compensation on the services you (Buyer/Client) select and the work that they perform.
Representing a Lessee
This Agreement may be used to represent a lessee to lease property. For such use, substitute "Buyer" for "Lessee" throughout this agreement.
Survivorship
Any provision in this agreement that should, by its nature, survive the termination or expiration of this agreement does. This includes, but is not limited to, the terms of compensation, dispute resolution, and hold harmless.
Financial Capability
Buyer/Client represents that they have the financial capability to purchase desired property and pay the agreed upon compensation. If financing is required to purchase the property, the Buyer/Client has acquired a loan Pre-Approval and has applied for financing or will immediately upon acceptance of this agreement. Buyer/Client understands that proof of funds or a mortgage pre-approval will be needed to be submitted with an offer in order to secure an accepted purchase contract.
Termination
This agreement shall expire on the Expiration Date above, except if, during the effective time the Buyer's Agent submitted an offer on a property on the Buyer's behalf and is accepted, then this agreement shall automatically extend until the closing of that transaction and expire immediately after that.
If the Buyer's Agent conducted a property showing with the Buyer before the Expiration Date and the Buyer desires to purchase that property within 60 days after the Expiration Date or termination of this agreement, Buyer agrees to use the Buyer's Agent services to purchase that property.
This agreement may be terminated before the Expiration Date by mutual written agreement of all parties. GreenTree Real Estate also reserves the right to assign a temporary agent if the Buyer's Agent cannot show a particular home or write an offer in a reasonable time.
Buyer(s) Initial:
Accepted and Agreed
By signing below you accept this GreenTree Buyer Agency Agreement and its terms.