Buyer Agency Contract (BAC) 3&4 PDF

minated, or the terms of a prior written agreement between the Buyer and a seller have been met. Buyer and Seller may name a non-licensee as the escrow holder, in which case the escrow holder will be bound by the terms of the escrow agreement, not by 103 the Real Estate Licensing and Registration Ac...

minated, or the terms of a prior written agreement between the Buyer and a seller have been met. Buyer and Seller may name a non-licensee as the escrow holder, in which case the escrow holder will be bound by the terms of the escrow agreement, not by 103 the Real Estate Licensing and Registration Act. Buyer agrees that the person keeping the deposit monies may wait to deposit any 104 uncashed check that is provided as deposit money until Seller has accepted an offer. 105 (B) Regardless of the apparent entitlement to deposit monies, Pennsylvania law does not allow a Broker holding deposit monies to 106 determine who is entitled to the deposit monies when settlement does not occur. Broker can only release the deposit monies: 107 1. If an agreement of sale is terminated prior to settlement and there is no dispute over entitlement to the deposit monies. A 108 written agreement signed by both parties is evidence that there is no dispute regarding deposit monies. 109 2. If, after Broker has received deposit monies, Broker receives a written agreement that is signed by Buyer and Seller, directing 110 Broker how to distribute some or all of the deposit monies. 111 3. According to the terms of a final order of court. 112 4. According to the terms of a prior written agreement between Buyer and Seller that directs the Broker how to distribute the 113 deposit monies if there is a dispute between the parties that is not resolved. 114 (C) Buyer agrees that if Buyer names Broker or Broker’s licensee(s) in litigation regarding deposit monies, the attorneys’ fees and 115 costs of the Broker(s) and licensee(s) will be paid by Buyer. 101 102 11. CIVIL RIGHTS ACTS  Federal and state laws make it illegal for a seller, broker, or anyone to use RACE, COLOR, RELIGION or RELIGIOUS CREED, 118 SEX, DISABILITY (physical or mental), FAMILIAL STATUS (children under 18 years of age), AGE (40 or older), NATIONAL 119 ORIGIN, USE OR HANDLING/TRAINING OF SUPPORT OR GUIDE ANIMALS, or the FACT OF RELATIONSHIP OR ASSO120 CIATION TO AN INDIVIDUAL KNOWN TO HAVE A DISABILITY as reasons for refusing to sell, show, or rent properties, loan 121 money, or set deposit amounts, or as reasons for any decision relating to the sale or rental of property. 116 117 12. NOTICE REGARDING CONVICTED SEX OFFENDERS (MEGAN’S LAW) The Pennsylvania General Assembly has passed legislation (often referred to as “Megan’s Law,” 42 Pa.C.S. §9791 et seq.) providing 124 for community notification of certain convicted sex offenders. Buyers are encouraged to contact the municipal police department or 125 the Pennsylvania State Police for information relating to the presence of sex offenders near a particular property, or to check the infor126 mation on the Pennsylvania State Police Web site at www.pameganslaw.state.pa.us. 122 123 13. BUYER INSPECTIONS (A) Unless Buyer and a seller agree otherwise, real estate is sold IN ITS PRESENT CONDITION. It is Buyer’s responsibility to 129 determine whether the condition of the property is satisfactory. Buyer is advised to carry out an inspection, at Buyer’s expense, 130 by qualified professionals to determine the condition of the structure or its components. Areas of concern may include, but are 131 not limited to: electrical; plumbing; heating, ventilating and air conditioning; appliances and fixtures; water infiltration; base132 ment; roof; property boundaries; asbestos, mold and indoor air quality, carbon monoxide, radon, and environmental hazards or 133 substances; wood-destroying insect infestation; on-site water service and/or sewage system; property insurance; deeds, restric134 tions and zoning; and lead-based paint. Buyer should discuss inspections and any special needs with Licensee. 135 (B) Buyer is advised that information regarding properties considered for purchase by Buyer has been provided by a seller or a sell136 er’s broker. Such information may include, but is not limited to, the information on the Seller’s Property Disclosure Statement, 137 including environmental conditions; MLS information, including information regarding restrictions, taxes, assessments, associa138 tion fees, zoning restrictions, dimensions, boundaries (if identified); and marketing information. Unless otherwise noted, Broker 139 has not verified the accuracy of this information, and Buyer is advised to investigate its accuracy. 127 128 14. RECORDINGS ON THE PROPERTY (A) Any person who intentionally intercepts oral communications by electronic or other means without the consent of all parties is 142 guilty of a felony under Pennyslvania law. Buyers should not make recordings on the property that capture the oral statements of 143 other persons without having the full consent of all persons who are parties to the communication. 144 (B) Buyer should be aware that a seller’s property may contain smart home technologies or devices, which may record or allow for 145 remote monitoring of the seller’s property, including broadcasting or recording video and audio. Buyer should be aware that any 146 discussions, including discussions of negotiation strategies, held on the property may not be confidential. 147 (C) Buyer hereby releases all Brokers, their LICENSEES, employees and any OFFICER or PARTNER of any one of them, 148 and any PERSON, FIRM, or CORPORATION who may be liable through them, from any claims, lawsuits and actions 149 which may arise from any audio or video recordings occurring in or around any property considered for purchase by 150 Buyer. 140 141 151 Buyer Initials:__________ BAC Page 3 of 4 Broker/Licensee Initials:__________ 152 153 154 155 156 157 158 159 160 161 162 163 15. RECOVERY FUND Pennsylvania has a Real Estate Recovery Fund (the Fund) to repay any person who has received a final court ruling (civil judgment) against a Pennsylvania real estate licensee because of fraud, misrepresentation, or deceit in a real estate transaction. The Fund repays persons who have not been able to collect the judgment after trying all lawful ways to do so. For complete details about the Fund, call (717) 783-3658. 16. SPECIAL CLAUSES (A) The following are part of this Buyer Agency Contract if checked: Single Agency Addendum (PAR Form SA) ____________________________________________________________________________________________________ (B) Additional Terms: Buyer agrees to allow any pictures taken with them in marketing material and social media posts from any member of The Zylkia Rivera Team. 164 165 166 167 168 169 170 171 172 173 174 175 176 Buyer has read and received the Consumer Notice as adopted by the State Real Estate Commission at 49 Pa. Code §35.336. 177 Buyer has read the entire Contract before signing. Buyer must sign this Contract. 178 If Buyer is obtaining mortgage financing, Buyer shall promptly deliver to Broker a copy of all Loan Estimate(s) and Closing Disclosure(s) upon receipt. Buyer gives permission for Broker to send information about this transaction to Buyer’s fax number(s) and/or e-mail address(es) listed. 179 180 181 182 183 184 185 186 187 188 189 190 191 Return of this Contract, and any addenda and amendments, including return by electronic transmission, bearing the signatures of all parties, constitutes acceptance by the parties. This Contract may be executed in one or more counterparts, each of which shall be deemed to be an original and which counterparts together shall constitute one and the same Agreement of the Parties. NOTICE BEFORE SIGNING: IF BUYER HAS LEGAL QUESTIONS, BUYER IS ADVISED TO CONSULT A PENNSYLVANIA REAL ESTATE ATTORNEY. BUYER ________________________________________________________________DATE________________________________ BUYER ________________________________________________________________DATE________________________________ BUYER ________________________________________________________________DATE________________________________ BROKER (COMPANY)________________________________________________________________________________________ ACCEPTED ON BEHALF OF BROKER BY_____________________________DATE________________________________ BAC Page 4 of 4