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Sample
This
sample is based on the Ontario Real Estate Association form. Some
will use this form, but others will have their own. As always, ask
for an explanation and be sure to know how to get out of the
relationship. If a Realtor
tells you that you can be represented without a written agreement report this to
your local Real Estate Board.
To:
JustShelter Realty Services, Inc.
Tel:
905-646-3565
337 Geneva Street
Fax: 905-646-5318
St. Catharines, ON
L2N 2G3
Hereinafter
referred to as the Broker.
1.
AUTHORITY: I/we
..
..,
hereinafter referred to as the Buyer,
hereby give you the authority to act as my agent
until 11:59 p.m. on the
day of
20
.,
for the purpose of locating real property meeting the following general
description: (We recommend no more
than 30 days, regardless of which company you choose. This enables
you to select another agent if your current one fails to provide the
effort or just does not understand what you want.)
Type or Use: (e.g.,
detached, freehold, condo etc.)
Geographic Location: (Where
do you want to live....)
Approximate Price Range: (Be
sure to be clear about this.)
Approximate Initial Investment by Buyer:
(your
down payment)
Other Features: (pool,
garage, large yard, etc.)
I agree that during the currency of this agreement
I will act in good faith and work exclusively with the Broker for the
purchase or lease of a real property of the general description indicated
above. I agree to immediately
inform the Broker of a property that comes to my attention through another
source and which may be of interest to me.
I hereby warrant that I am not a party to a buyer
agency agreement with any other registered real estate broker for the
purchase or lease of a real property of the general description indicated
above.
2. COMMISSION: In consideration of the Broker agreeing to assist me, I agree
to the payment of commission to the Broker as follows:
If I enter into an agreement during the currency of
this Authority to purchase or lease a real property of the general
description indicated above and the property is listed for sale or lease,
I agree the Broker is entitled to receive the commission offered by the
listing broker to a co-operating Broker.
I acknowledge that the payment of any commission by the listing
broker or any other party will not make the Broker either the agent or
sub-agent of the seller or the listing broker.
If I enter into an agreement during the currency of
this Authority to purchase or lease a property of the general description
indicated above, I agree the Broker is entitled to be paid a commission
of
...
(We feel that no commission
should be paid if any commission is paid by the vendor and shared by the
listing broker to the selling broker.)
I
agree to pay directly to the Broker any deficiency between this amount and
any amount to be paid to the Broker by the listing broker or vendor. I agree to pay the Broker such commission if I enter into an
agreement within 60 (most
stipulate 90) days of this Authority (Holdover Period) to purchase
or lease any real property shown or introduced to me during the term of
this Authority, provided, however, that if I enter into a new Buyer Agency
Agreement with another registered real estate broker after the expiration
of this Authority my liability to pay commission to the Broker shall be
reduced by the amount paid by me under the new agreement.
Said commission plus any applicable taxes, shall be
payable on the date set for completion of the purchase of the property or
the date set for commencement of the lease.
3. AGENCY:
I acknowledge the Broker has provided me with written information
explaining agency relationships, including information on Seller Agency,
Sub-Agency, Buyer Agency and Dual Agency.
The Broker shall assist the Buyer in locating real property of the
general description indicted above and shall represent the Buyer in an
endeavour to procure the acceptance of an agreement to purchase or lease
such property.
I acknowledge that I may not be shown or offered
all properties that may be of interest to me.
I acknowledge that the Broker may be entering into
Buyer Agency Agreements with other buyers who may be interested in the
same or similar properties that I may be interested in purchasing or
leasing, and the Broker may represent other such purchasers without any
claim by me of conflict of interest.
I hereby agree that the terms of any buyers offer of agreement
to purchase or lease the property will not be disclosed to any other
buyer.
I hereby acknowledge the Broker may be listing
properties that I may be interested in purchasing or leasing and I hereby
agree to the possibility of Dual Agency.
In the even that the Broker has entered into a Listing Agreement
with the seller of a property that I may be interested in purchasing or
leasing, and therefore a Dual Agency relationship exists for the
transaction, I will be so informed in writing prior to any substantive
negotiations relating to the transaction.
The Buyer hereby appoints the Broker as agent for
the purpose of giving and receiving notices pursuant to any offer or
agreement to purchase or lease a property negotiated by the Broker.
4. INDEMNIFICATION:
broker and salespeople of the Broker are trained in dealing in real
estate but are not qualified in determining the physical condition of the
land or any improvements thereon. I
agree that the Broker will not be liable for any defects, whether latent
or patent, to the land or improvements thereon.
All information supplied by the seller or landlord or the listing
broker may not have been verified and is not warranted by the Broker as
being accurate and will be relied on by the Buyer at the Buyers own
risk. The Buyer acknowledges
having been so advised to make their own enquiries to confirm the
condition of the property.
5. FINDERS FEE: I acknowledge that the Broker may be receiving a finders
fee from a lender in the event that a new mortgage or an increase in
financing is required for a transaction contemplated by this agreement.
6.CONSUMER REPORTS:
The buyer is hereby notified that a Consumer Report containing
credit and/or personal information may be referred to in connection with
this Agreement and any subsequent transaction.
7. CONFLICT OR DISCREPANCY:
If there is any conflict or discrepancy between any provision added
to this Authority and any provision in the standard pre-set portion
thereof, the added provision shall supersede the standard pre-set
provision to the extent of such conflict or discrepancy.
This Authority, including any provisions added to this Authority,
shall constitute the entire Authority from the Buyer to the Broker.
There is no representation, warranty, collateral agreement or
condition, which affects this Authority other than as expressed herein.
8. DEFINITIONS: For the purposes of this Authority, Buyer includes
Purchaser and Tenant and a seller includes a vendor, a landlord or a
prospective vendor or landlord. This
Authority shall be read with all changes of gender or number required by
the context.
9. ELECTRONIC COMMUNICATION:
This buyer Agency Agreement and any agreements, notices or other
communications contemplated thereby may be transmitted by means of
electronic systems, in which case signatures shall be deemed to be
original. The transmission of
this agreement by me by electronic means shall be deemed to confirm I have
retained a true copy of the agreement.
THIS AGREEMENT HAS BEEN READ AND FULLY
UNDERSTOOD BY ME AND I ACKNOWLEDGE THIS DATE HAVING RECEIVED A TRUE COPY.
Any representations and warranties contained herein are true to
the best of my knowledge, information, and belief.
Dated at
..
..........
.. this
day of
20
..
SIGNED, SEALED AND DELIVERED in the presence of:
IN WITNESS whereof I have hereunto set my hand and seal:
..
...................
..
DATE
(witness)
(signature of Buyer
..
...................
..
DATE
(witness)
(signature of Buyer
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