Colorado Contracts #108891-Entire Right to Buy Listing Contract

Pdf Summary

The BC60 Exclusive Right to Buy Listing Contract is a contract between a broker and a buyer for the purpose of helping the buyer find and purchase a property. Unlike the Exclusive Right to Sell Listing Contract, this contract does not create an agency relationship with the brokerage firm. The contract specifies that all negotiations for the purchase of the property will be conducted through the broker. The buyer agrees to conduct all negotiations through the broker and to refer all communications to the broker. The buyer also acknowledges that the broker may show properties to other prospective buyers.<br /><br />The contract outlines the duties of the broker, which include exercising reasonable skill and care for the buyer, presenting all offers to the buyer in a timely manner, disclosing adverse material facts to the buyer, advising the buyer on the transaction, accounting for money and property received, and keeping the buyer fully informed.<br /><br />The contract also specifies the compensation to the brokerage firm, which includes a fee equal to a percentage of the purchase price or a set amount, as well as additional compensation, bonuses, and incentives paid by the listing brokerage firm or seller. The contract states that the brokerage firm may request payment of the success fee from the listing brokerage firm or seller, but the buyer is obligated to pay any portion not paid by the listing brokerage firm or seller.<br /><br />The contract includes provisions for default and cancellation, as well as disclosures regarding settlement service costs, wire and other frauds in real estate transactions, and the removal of marketing material. It also states that the broker may not violate fair housing laws.<br /><br />The contract concludes with provisions for mediation, attorney fees, notice and delivery, choice of law, modification of the contract, counterparts, and the entire agreement. The buyer acknowledges receipt of a copy of the contract and the brokerage firm authorizes the broker to execute the contract on its behalf.

Asset Caption

Please review the detailed instructor notes for the Right-to-Buy listing contract here.

Keywords

BC60 Exclusive Right to Buy Listing Contract

broker

buyer

property purchase

negotiations

broker's duties

compensation

default and cancellation

disclosures

fair housing laws