Buyer Tenant Agency Contract PDF

BUYER (TENANT) AGENCY CONTRACT This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of Realtors® (PAR). BAC Note: The terms “buyer,” “seller,” “agreement of sale,” and “purchase” also will be construed to mean “tenant,” “landlord,” “lease,...

BUYER (TENANT) AGENCY CONTRACT This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of Realtors® (PAR). BAC Note: The terms “buyer,” “seller,” “agreement of sale,” and “purchase” also will be construed to mean “tenant,” “landlord,” “lease,” and “rent,” respectively, throughout this agreement. Broker (Company)_______________________________________ Keller Williams Platinum Realty ______________________________________________________ 3 Company License #__ RB068762 _____________________________________ 4 Company Address__ 60 Commerce Drive Wyomissing PA 19610 ______________________________________ 5 ______________________________________________________ 6 Company Phone_________________________________________ 610-898-1441 1 2 Licensee(s) (Name) ___________________________________ State License # _______________________________________ Direct Phone(s) _______________________________________ Cell Phone(s)_________________________________________ Licensee Fax ________________________________________ Email ______________________________________________ BUYER______________________________________________________________________________________________________ _____________________________________________________________________________________________________________ 9 BUYER’S MAILING ADDRESS________________________________________________________________________________ 10 _____________________________________________________________________________________________________________ 11 PHONE_______________________________________________ FAX________________________________________________ 12 E-MAIL______________________________________________________________________________________________________ 7 8 Buyer understands that this Buyer Agency Contract is between Broker and Buyer. Does Buyer have a Buyer Agency Contract with another Broker? Yes No 15 If yes, explain:______________________________________________________________________________________________ 13 14 1. STARTING & ENDING DATES OF BUYER AGENCY CONTRACT (ALSO CALLED “TERM”) (A) No Association of REALTORS® has set or recommended the term of this Contract. Broker/Licensee and Buyer have discussed and 18 agreed upon the length or term of this Contract. Broker may be paid a fee that is a percentage of the purchase price. Even though 19 Broker’s Fee, or a portion of it, may be paid by seller or listing broker, Broker will continue to represent the interests of Buyer. 20 (B)  This Contract applies to any property that Buyer chooses to purchase during the term of this Contract. Buyer will not enter into 21 a Buyer Agency Contract with another broker/licensee that begins before the Ending Date of this Contract. 22 Starting Date: This Contract starts when signed by Buyer and Broker, unless otherwise stated here:_______________________ 23 24 Ending Date: This Contract ends at 11:59 PM on ___________________, or before if Buyer and Broker agree. The Ending Date of this Contract may not be extended without the written consent of Buyer. 25 26 (C) If Buyer is negotiating or has entered into an Agreement of Sale, this Contract ends upon settlement. 16 17 2. BROKER’S FEE (A) No Association of REALTORS® has set or recommended Broker’s fee. Broker and Buyer have negotiated the fee Broker will 29 receive for exercising professional knowledge and skills in locating and assisting Buyer in the acquisition of real property which 30 is available and suitable for Buyer. 31 (B) Broker’s Fee, paid by Buyer to Broker, is as follows: 32 1. In a purchase transaction: 33 a. with a seller represented by a real estate broker the fee is 3_____% of the purchase price OR $ 1800 , 34 whichever is greater, AND $__________________. 650.00 35 b. with a seller who is not represented by a real estate broker the fee is_____% of the purchase price OR 1800 , 36 3 37 whichever is greater, AND $__________________. 650.00 38 2. Broker’s Fee in event of a lease transaction is:_______________________________________________________________. 39 3. It is Broker’s policy to accept compensation offered by the listing broker. If the amount received from the listing broker is 40 less than the amount in Paragraph 2(B)(1), in a purchase transaction, or 2(B)(2), in a lease transaction, Buyer will pay Broker 41 the difference, unless seller agrees to pay the difference as a term in the agreement of sale. 42 4. $___________________ of Broker’s Fee is earned and due (non-refundable) at signing of this Buyer Agency Contract. 43 5. Other_______________________________________________________________________________________________ 44 (C) The balance of Broker’s Fee is earned if Buyer enters into an agreement of sale during the term of this Contract, whether 45 brought about by Broker, Broker’s Licensee(s) or by any other person, including Buyer. If Buyer defaults on the terms of 46 an agreement of sale, Broker’s Fee will be paid by Buyer to Broker at that time. Buyer is advised that contacting a listing 47 broker or seller directly may compromise Broker’s ability to earn compensation from a listing broker and could result in 48 49 Buyer’s obligation to pay a fee to Broker. 27 28 50 Buyer Initials:__________ BAC Page 1 of 4 Broker/Licensee Initials:__________ COPYRIGHT PENNSYLVANIA ASSOCIATION OF REALTORS® 2020 rev. 11/19; rel. 1/20 (D) If Buyer enters into an agreement of sale for a property after the Ending Date of this Contract, Buyer will pay Broker’s Fee if: 1. The agreement of sale is a result of Broker’s actions during the term of this Contract, OR 53 2. The property was seen during the term of this Contract, AND 54 3. Buyer is not under an exclusive buyer agency contract with another broker at the time Buyer enters into an agreement of sale. 51 52 3. DUAL AGENCY  Buyer agrees that Broker and Broker’s Licensee(s) stated above may also represent the seller(s) of the property Buyer might buy. A 57 Broker is a Dual Agent when a Broker represents both Buyer and a seller in the same transaction. A Licensee is a Dual Agent when 58 a Licensee represents Buyer and a seller in the same transaction. All of Broker’s licensees are also Dual Agents UNLESS there are 59 separate Designated Agents for Buyer and a seller. If the same Licensee is designated for Buyer and a seller, the Licensee is a Dual 60 Agent. Buyer understands that Broker is a Dual Agent when Buyer is viewing properties listed by Broker. 55 56 4. DESIGNATED AGENCY Designated Agency is applicable, unless checked below. Broker designates the Licensee(s) stated above to exclusively represent the 63 interests of Buyer. If Licensee is also the Seller’s Agent, then Licensee is a DUAL AGENT. 64 Designated Agency is not applicable. 61 62 5. BROKER’S SERVICES TO OTHERS (A) Broker may not take action that is inconsistent with Buyer’s interests. However, Broker may provide services to a seller for 67 which Broker may accept a fee. Such services may include, but are not limited to, listing property for sale; representing the 68 Seller as Seller Agent; deed/document preparation; ordering certifications required for closing; financial services; title transfer 69 and preparation services; ordering insurance, construction, repair, or inspection services. Providing such services is not in itself a 70 breach of Broker’s fiduciary duty to Buyer. 71 (B) Broker/Licensee may show the same properties to other buyers and may represent those buyers in attempts to purchase the same 72 property that Buyer wishes to purchase. Broker does not breach a duty to Buyer by showing a property Buyer is interested in to 73 other prospective buyers. 74 (C) It is a conflict of interest when Broker or Licensee has a financial or personal interest in the property and/or cannot put Buyer’s 75 interests before any other. If Broker, or any of Broker’s licensees, has a conflict of interest, Broker will notify Buyer in a t­imely 76 manner. 65 66 6. ENTIRE CONTRACT  This Contract is the entire agreement between Broker and Buyer. Any verbal or written agreements that were made before are not a 79 part of this Contract. All changes to this Contract must be in writing and signed by Broker and Buyer. 77 78 7. TRANSFER OF THIS CONTRACT (A) Buyer agrees that Broker may transfer this Contract to another broker when Broker stops doing business, Broker forms a new real 82 estate business, OR Broker joins his business with another. 83 (B) Broker will notify Buyer immediately in writing if Broker transfers this Contract to another broker. Buyer will follow all require84 ments of this Contract with the new broker. 80 81 8. CONFIDENTIALITY  Unless permitted by Buyer or required by law, Broker will not knowingly reveal or use any confidential information of Buyer. Buyer 87 understands that sellers or sellers’ representatives might not treat the existence, terms or conditions of any offer as confidential unless 88 there is a confidentiality agreement between Buyer and the seller. This Paragraph will survive the termination or expiration of this 89 Contract. 85 86 9. EXPERTISE OF REAL ESTATE AGENTS  Pennsylvania real estate agents are required to be licensed by the Commonwealth of Pennsylvania and are obligated to disclose ad92 verse factors about a property that are reasonably apparent to someone with expertise in the marketing of real property. 93 (A) If Buyer wants information regarding specific conditions or components of a property which are outside Broker’s or Licensee’s 94 area of expertise, Buyer is encouraged to seek the advice of an appropriate professional. 95 (B) If Buyer wants financial, legal, or any other advice, Buyer is encouraged to seek the services of an accountant, lawyer, or other 96 appropriate professional. 90 91 10. DEPOSIT MONEY (A) Broker will keep (or will give to the listing broker, who will keep) all deposit monies that Broker/Licensee receives in an escrow 99 account as required by the real estate licensing laws and regulations until the sale is completed or an agreement of sale is ter97 98 100 Buyer Initials:__________ BAC Page 2 of 4 Broker/Licensee Initials:__________