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Buyer Representation Agreement Exclusive
"Need a Buyer Representation Agreement Exclusive for a 6-month term starting January 2025, to help our company acquire commercial property in Mumbai's business district, with monthly progress reports and specific provisions for multiple property viewings."
1. Parties: Identification of the buyer (client) and the real estate agent/broker, including full legal names, addresses, and registration details
2. Background: Context of the agreement, including the buyer's intention to purchase property and desire for exclusive representation
3. Definitions: Key terms used throughout the agreement, including 'Exclusive Period', 'Property Requirements', 'Territory', and 'Commission'
4. Appointment and Scope: Explicit statement of exclusive appointment and detailed scope of services to be provided by the agent
5. Term and Exclusivity: Duration of the agreement and terms of exclusive representation
6. Agent's Obligations: Comprehensive list of agent's duties, including property search, negotiations, due diligence, and reporting
7. Client's Obligations: Buyer's responsibilities, including providing accurate requirements, maintaining exclusivity, and prompt communication
8. Commission Structure: Details of fees, commission calculation, payment terms, and circumstances for commission eligibility
9. Confidentiality: Obligations regarding confidential information shared during the representation
10. Termination: Grounds for termination, notice requirements, and consequences of early termination
11. Dispute Resolution: Process for handling disputes, including mediation and arbitration procedures
12. Governing Law: Specification of Indian law as governing law and jurisdiction details
1. Digital Communications: Terms regarding electronic communications and digital signatures, used when parties agree to conduct business electronically
2. International Property Search: Additional terms for international property search services, included when buyer is interested in properties outside India
3. Power of Attorney: Terms regarding agent's authority to act on behalf of the buyer, included when broader powers are granted
4. Special Requirements: Section for unique buyer requirements or circumstances that need special attention
5. Sub-Agency: Terms regarding the appointment of sub-agents, included when agent may need to collaborate with other professionals
6. Force Majeure: Provisions for unforeseen circumstances affecting performance, particularly relevant in uncertain times
1. Schedule A - Property Requirements: Detailed specifications of the type of property sought, including location preferences, budget, and essential features
2. Schedule B - Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms
3. Schedule C - Scope of Services: Comprehensive list of services to be provided by the agent
4. Schedule D - Excluded Properties: List of properties or dealings excluded from the exclusive agreement
5. Appendix 1 - Agent Credentials: Agent's registration details, licenses, and qualifications
6. Appendix 2 - Communication Protocol: Agreed procedures for regular updates, reporting, and communication between parties
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Healthcare
Education
Corporate Services
Legal
Compliance
Real Estate
Property Management
Facilities
Risk Management
Corporate Services
Procurement
Business Development
Operations
Real Estate Agent
Property Consultant
Real Estate Broker
Legal Counsel
Compliance Officer
Property Acquisition Manager
Real Estate Investment Manager
Corporate Real Estate Manager
Facilities Manager
Business Development Manager
Contract Manager
Risk Manager
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