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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Withdrawn/Early Release: Buyer may withdraw/cancel this Buyer Agreement at any time with a written notice to Broker signed by Buyer.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.

 


 

 

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Last modified: 03/10/2012