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relating to the subject matter herein.
AND NON-EXCLUSIVE BUYER'S AGENCY (Online)
Whenever you use an agent or broker to represent you in purchasing property, you
are required by law to sign a bunch of papers that define the relationship and
responsibilities between all of the parties. One of these documents is called a
Buyer's Agency, which authorizes the broker or agent to represent you. The
following is a limited and non-exclusive agreement, which
does not obligate you to anything whatsoever. It is
merely an understanding that, should you decide to purchase one of the
properties featured on this website, that you will give us the opportunity to
represent you, at no cost to you.
Click here for printable version.
Prepared by Kelly Burns,
Prepared by Scott L. Hunt,
DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE SELLER AGENCY,
BUYER AGENCY, OR TRANSACTION-BROKERAGE.
NOT A CONTRACT
This Buyer's Agency pertains ONLY to properties featured and offered via this
website. It is NOT AN EXCLUSIVE AGREEMENT. You are NOT GRANTING EXCLUSIVE RIGHTS
to us to represent you.
Feel free to make inquiries about any property you've seen here. We can also
represent you, at no charge to you, in purchasing any property you may have
found yourself. We won't pester you or hunt you down. You are under absolutely
no obligation whatsoever..
You are welcome to call us anytime at (719) 578-0356.
For general questions or comments,
For purposes of this disclosure, seller also means "landlord" (which includes
sublandlord) and buyer also means "tenant" (which includes subtenant).
Limited Online Right-To-Buy Agreement (Buyer's Agency)
1. AGREEMENT. Buyer and Brokerage Firm enter into
this nonexclusive, understanding as of the date set forth above.
2. AGENCY RELATIONSHIP.
Multiple-Person Firm: the individual
designated by Brokerage Firm to serve as the limited agent of Buyer and to
perform the services for Buyer required by this contract is called Broker. If
more than one individual is so designated, then references in this contract to
Broker shall include all persons so designated, including substitute or
additional brokers. The agency relationship exists only with Broker and does not
extend to the employing broker, Brokerage Firm or to any other brokers employed
or engaged by Brokerage Firm who are not so designated.
3. DEFINED TERMS.
The person(s) named in InHouse Realty's online User Registration form and any
other person or entity on whose behalf the named party acts, directly or
indirectly, to Purchase the Property.
b. Brokerage Firm:
INHOUSE REALTY, INC.
Kelly Burns, Broker/Owner
Scott L. Hunt, Broker/Owner
Property means real estate that substantially meets the following requirements
or similar real estate acceptable to Buyer:
Purchase means the acquisition of any interest in the Property or the creation
of the right to acquire any interest in the Property (including a contract or
lease). It also includes an agreement to acquire any ownership interest in an
entity which owns the Property.
The Term of this agreement shall begin upon Buyer's notifying Broker of Buyer's
interest in buying/intent of buying property or properties listed on this
website and will continue through the earlier of (1) completion of the Purchase
of the Property or (2)
Broker shall continue to assist in the completion of any transaction for which
compensation is payable to Brokerage Firm under §6
of this contract.
g. Applicability of Terms.
A check or similar mark in a box means that such provision is applicable. The
abbreviation "N/A" means not
applicable. The abbreviation "MEC" (mutual execution of this contract) means the
latest date upon which both parties have signed this contract., and shall
4. BROKERAGE SERVICES AND DUTIES. Brokerage Firm, acting through Broker, shall
provide brokerage services to Buyer.
Broker shall exercise reasonable skill and care for Buyer, and make reasonable
efforts to locate the Property.
a. Broker, as Buyer's agent, shall promote the interests of Buyer with the
utmost good faith, loyalty, and fidelity, including but not limited to:
(1) Seeking a price and terms that are acceptable to Buyer, except that Broker
shall not be obligated to seek other properties
while Buyer is a party to a contract to Purchase the Property;
(2) Presenting all offers to and from Buyer in a timely manner, regardless of
whether Buyer is already a party to a contract to Purchase the Property;
(3) Disclosing to Buyer adverse material facts actually known by Broker;
(4) Counseling Buyer as to any material benefits or risks of the transaction
that are actually known by Broker;
(5) Advising Buyer to obtain expert advice as to material matters about which
Broker knows but the specifics of which are beyond
the expertise of Broker; and
(6) Accounting in a timely manner for all money and property received.
b. Broker shall NOT disclose the following information without the informed
consent of Buyer:
(1) That Buyer is willing to pay more than the purchase price offered for the
(2) What Buyer's motivating factors are;
(3) That Buyer will agree to financing terms other than those offered;
(4) Any material information about Buyer unless disclosure is required by law or
failure to disclose such information would constitute fraud or dishonest
(5) Any facts or suspicions regarding circumstances that could psychologically
impact or stigmatize the Property.
c. Buyer consents to Broker's disclosure of Buyer's confidential information to
the supervising broker or designee for the purpose of proper supervision,
provided such supervising broker or designee shall not further disclose such
information without consent of Buyer, or use such information to the detriment
d. Buyer shall not be vicariously liable for the acts of Broker that are not
approved, directed or ratified by Buyer.
e. Broker has no duty to conduct an independent inspection of the Property for
the benefit of Buyer and has no duty to independently
verify the accuracy or completeness of statements made by a seller or
independent inspectors. Broker has no duty to conduct an independent
investigation of Buyer's financial condition or to verify the accuracy or
completeness of any statement made by Buyer.
f. Broker shall disclose to any prospective seller all adverse material facts
actually known by Broker, including but not limited to adverse material facts
concerning Buyer's financial ability to perform the terms of the transaction and
whether Buyer intends to occupy the Property as a principal residence.
g. IN-COMPANY TRANSACTION - DIFFERENT BROKERS. When the seller and Buyer in a
transaction are working with different brokers, those brokers continue to
conduct themselves consistent with the brokerage relationships they have
established. Buyer acknowledges that Brokerage Firm is allowed to offer and pay
compensation to brokers within Brokerage Firm working with a seller.
h. IN-COMPANY TRANSACTION - ONE BROKER. If the seller and Buyer are both working
with the same broker, the following applies:
(1) Buyer's Agent. If this box is checked, Broker shall represent Buyer as
Buyer's Agent and shall treat the seller as a customer. A customer is a party to
a transaction with whom Broker has no brokerage relationship. Broker shall
disclose to such customer Broker's relationship with Buyer.
5. BUYER'S OBLIGATIONS TO BROKER. Buyer agrees to conduct all negotiations for
the Property FEATURED ON THIS WEBSITE only through Broker, and to refer to Broker all communications
received in any form from real estate brokers, prospective sellers, or any other
source during the Term
of this contract. Buyer represents that Buyer D Is D Is Not currently a party to
any agreement with any other broker
to represent or assist Buyer in the location or purchase of property.
6. COMPENSATION TO BROKERAGE FIRM. In consideration of the services to be
performed by Broker,
Broker is authorized and instructed to request payment of Brokerage Firm's fee
in any of the following indicated methods:
a. By listing brokerage firm .
By seller from the transaction
d. Other Compensation:
* * NOT APPLICABLE * *
UNLESS BROKERAGE FIRM IS PAID AS SET FORTH ABOVE, BUYER IS OBLIGATED TO PAY
BROKERAGE FIRM'S FEE.
7. LIMITATION ON THIRD-PARTY COMPENSATION. Neither Broker nor the Brokerage
Firm, except as set forth in §6,shall accept compensation from any other person
or entity in connection with the Property without the written consent of Buyer.
Additionally, neither Broker nor Brokerage Firm shall be permitted to assess and
receive mark-ups or other compensation for services performed by any third party
or affiliated business entity unless Buyer signs a separate written consent for
8. COSTS OF SERVICES OR PRODUCTS OBTAINED FROM OUTSIDE SOURCES. Broker will not
obtain or order products or services from outside sources unless Buyer has
agreed to pay for them promptly when due (examples: surveys, radon tests, soil
tests, title reports, engineering studies, property inspections). Neither Broker
nor Brokerage Firm shall be obligated to advance funds for Buyer. Buyer shall
reimburse Brokerage Firm for payments made by Brokerage Firm for such products
or services authorized by Buyer.
9. SHOWING PROPERTIES. Buyer acknowledges that Broker has explained the possible
methods used by listing brokers and sellers to show properties, and the
limitations (if any) on Buyer and Broker being able to access properties due to
such methods. Broker's limitations on accessing properties are as follows:
* * NOT APPLICABLE * *
Broker, through Brokerage Firm, has access to the following multiple listing
services and property information services:
10. DISCLOSURE OF BUYER'S IDENTITY. Broker may or may not have Buyer's
permission to disclose Buyer's identity
to third parties without prior written consent of Buyer.
11. OTHER BUYERS. Buyer acknowledges that, under Colorado law, Broker may show
properties in which Buyer is interested to other prospective buyers without
breaching any duty or obligation to Buyer.
12. NONDISCRIMINATION. The parties agree not to discriminate unlawfully against
any prospective seller because of the race, creed, color, sex, marital status,
national origin, familial status, physical or mental handicap, religion or
ancestry of such person.
13. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By agreeing to this document, Buyer
acknowledges that Broker has advised that this document has important legal
consequences and has recommended consultation with legal and tax or other
counsel before agreeing to this document.
14. MEDIATION. If a dispute arises relating to this contract, prior to or after
closing, and is not resolved, the parties shall first proceed in good faith to
submit the matter to mediation. Mediation is a process in which the parties meet
with an impartial person who helps to resolve the dispute informally and
confidentially. Mediators cannot impose binding decisions. The parties to the
dispute must agree before any settlement is binding. The parties will jointly
appoint an acceptable mediator and will share equally in the cost of such
mediation. The mediation, unless otherwise agreed, shall terminate in the event
the entire dispute is not resolved within 30
calendar days of the date written notice requesting mediation is sent by one
party to the other at the party's last known address.
15. ATTORNEY FEES. In the event of any arbitration or litigation relating to
this contract, the arbitrator or court shall award to the prevailing party all
reasonable costs and expenses, including attorney and legal fees.
16. ADDITIONAL PROVISIONS.
( The following additional provisions have not been approved by the Colorado
Real Estate Commission).
* * NONE OTHER * *
17. ATTACHMENTS. The following are a part of this contract:
* * NONE OTHER * *
18. NOTICE, DELIVERY AND CHOICE OF LAW.
Electronic Delivery. As an alternative to physical delivery, any signed
document and written notice may be delivered in electronic form by the following
indicated methods only:
Documents with original signatures shall be provided upon request of any party.
19. CHOICE OF LAW. This contract and all disputes arising hereunder shall be
governed by and construed in accordance with the laws
of the State of Colorado that would be applicable to Colorado residents who sign
a contract in this state for property located in Colorado.
20. MODIFICATION OF THIS AGREEMENT. No subsequent modification of any of the
terms of this agreement shall be valid, binding upon the parties, or enforceable
unless in writing and signed by the parties.
21. COUNTERPARTS. If more than one person is named as a Buyer herein, this
contract may be executed by each Buyer, separately, and when so executed, such
copies taken together with one executed by Broker on behalf of Brokerage Firm
shall be deemed to be a full and complete contract between the parties.
22. ENTIRE AGREEMENT. This agreement constitutes the entire contract between the
parties and any prior agreements, whether oral or written, have been merged and
integrated into this contract.
23. COPY OF AGREEMENT. Buyer acknowledges receipt of a copy of this contract
signed by Broker, including all attachments.
24. MEGAN'S LAW. If the presence of a registered sex offender is a matter of
concern to Buyer, Buyer understands that Buyer must
contact. local law enforcement officials regarding obtaining such information.
Brokerage Firm authorizes Broker to execute this agreement on behalf of Brokerage
InHouse Realty, Inc.
Scott L. Hunt
1363 Pecan Street
Colorado Springs, Colorado 80904
Phone: Office (719) 578-0356
Fax: Fax (719) 578-0378
The printed portions
of this form, except differentiated additions, have been approved by the
Colorado Real Estate Commission. (DD25-5-04)
Copyright © 2008 The InHouse Companies, Inc.
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