Regulations Effective For
Buyer Agreement
The Regulations are incorporated into the Buyer Agreement and are agreed upon by the
signing of the Buyer Agreement.
You acknowledge that Broker
is governed by various federal, state and MLS regulations,
You agree to the following:
Information:
Unless otherwise provided by law or the Buyer consents in writing
herein or elsewhere to the release of the information, the Broker
and the Sales Associate shall maintain the confidentiality of all
personal and financial information and other matters identified as
confidential by the Buyer.
Regulations:
Buyer acknowledges that Broker is bound by and subject to the
regulations, bylaws, policies and procedures of various Associations
of Realtors and the Regulations of the Multiple Listing Services in
which the property is entered and agreement is subject to rules
instituted by MLS Boards of entry.
Term:
This Buyer Agreement shall expire at 5 PM on the date chosen. The
Buyer Agreement shall be extended by signed consent of all parties at least
24 hours prior to expiration.
Withdrawn/Early Release:
Buyer may withdraw/cancel this Buyer Agreement at any time with a written notice to Broker signed by
Buyer.
Broker Withdrawal:
Broker reserves the unilateral right to cancel this Buyer Agreement
at anytime without notice if Buyer
refuses to comply with providing Broker any required paperwork or
other documentation in a timely fashion as required by regulation or
law.
Dual Representation:
Buyer acknowledges that Broker, in the course of its business, may
represent sellers of property as a listing representative, and
certain of the property listed by Broker may be of interest to
Buyer. Buyer authorizes Broker, if consistent with Broker's duties
hereunder, to bring to Buyer's attention any properties listed by
Broker which may suit Buyer's needs and hereby instructs Broker to
inform Buyer at the time of its representation of the Seller. If
Buyer elects to see or consider property listed by Broker and to
make an offer on such property, then dual representation by the
Broker will exist. Broker will be acting as the representative for
Buyer and Seller in the same transaction. Broker may act as such
dual representative only with the knowledge and informed written
consent of all parties to the transaction. Broker will remain
impartial to the Seller and Buyer. Broker shall maintain
confidentiality of bargaining information of the Buyer and Seller.
Broker shall NOT be prevented from disclosing to Buyer any known
material defects in the property or any other matter that must be
disclosed by law and/or regulation. Broker shall not be liable for
any claims, etc. arising from Broker's roles as a dual
representative.
Broker's Role: Buyer
acknowledges that Broker is being retained solely as a real estate
representative and is not an attorney, tax advisor, lender,
appraiser, surveyor, structural engineer, certified home inspector
or other professional service provider. Buyer has been advised to
seek professional advice for all matters. Buyer should exercise
whatever due diligence Buyer deems necessary with respect to
information on any sexual offenders registered under Chapter 23
(Section 19.2-987 et seq.) of Title 19 of the Code of Virginia. Such
information may be obtained by contacting the local police
department or the Department of State Police. Central Records
Exchange at (804) 674-2000 or online at www.vsp.state.va.us/
Authorized Signatures:
This Buyer Agreement requires Buyer's signature (s) as well as
Broker’s signature in order for such Agreement to become effective. If any individual signing this Agreement is acting in a
representative capacity, such individual certifies having legal
authorization to enter into this Agreement.
Indemnification:
Buyer shall indemnify, defend and hold Broker harmless from and
against any and all claims, demands, suits, damages, liability,
losses or expenses( including reasonable attorney’s fees).
Signed Agreement:
Broker will sign and return a copy of the Buyer Agreement to Buyer.
Compliance:
Buyer understands Broker is subject to fines and sanctions for
noncompliance of MLS rules. Should Buyer default under any terms and
conditions of this Agreement, Buyer must pay expenses and fines imposed on Broker by
the MLS or any other agencies for noncompliance, including
reasonable attorney’s fees incurred in connection with such default
or the enforcement of this Agreement.
Applicable Law and Venue:
These terms and conditions shall be governed by and construed in
accordance with the laws of the Commonwealth of Virginia, applicable
to agreements made entirely to be performed within the Commonwealth
of Virginia, without resort to its conflict of law provisions.