I have begun searching many avenues to find property deals in my area. I have been working with different wholesalers and real estate agents. Looks like I may have a potential property found by one of my real estate agents. The agent is requiring a buyer exclusive agreement (looks like a standard KW form) . Does this limit me from purchasing other properties from other avenues? Do others avoid signing such an agreement?
Sign one for That property, or other properties shown to you by that agent, only.
This particular agreement set a contractual term. (1 month) No options for a property specific agreement. What would you recommend I set the term to? (7 days)
Also I saw this language in the agreement as well
11 Broker’s Fees
B. Source of Commission Payment: Broker will seek to obtain the payment of the commission specified in paragraph 11A first from the seller landlord or their agents. If person refuse or fail to pay Broker the amount specified, Client will pay Broker the amount specified less any amounts Broker receives from such persons.
Conceivable if the Seller fails or refuses to pay their commission fee, it would be upon me to pay the commission. I have never even heard of this before but in was in BOLD print that make we wonder if it happens more than I think.
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