Buyer Broker Participation Agreement
To Earn a 1% commission on the FINAL HIGH BID PRICE, broker must register their Buyer/Bidder by filling out the attached Buyer/Broker Registration Form in full and sign this agreement. These documents must be faxed or mailed to K&W Auctions Lakeside Inc. by 6PM the day before the schedueld auction date. Original signed documents must be in the Auctioneer’s hands prior to the start of the auction.
Broker must show the property in person to their buyer/bidder.
Broker must attend and register with their buyer/bidder at the auction and encourage bidding.
Broker agrees that no oral registration will qualify broker for a commission.
Broker agrees that they will not be entitledto a commission, if the Broker and/or member of Brokers family or firm participated, as a principal at the auction. Broker shall give an affidavit to this effect if requested.
Broker’s buyer/bidder must be the high bidder with the bid being accepted by the seller.
Broker’s buyer/bidder must sign the Agreement of Sale/Real Estate Auction Contract immediately following the auction.
Broker’sbuyer/bidder must make the required deposit/down payment at the contract signing.
Broker’s buyer/bidder must close on the property within ____ days of the auction date.
Broker agrees that Broker’s commission will be due upon final closing of the purchase by their buyer/bidder with all consideration paid in full.
Broker agrees that only the first registration of a prospective buyer/bidder will be accepted and honored.
Broker agrees that commission will ONLY be paid at time of closing and distributed by Escrow Agent.
Broker agrees to hold harmless and indemnify K&W Auctions Lakeside Inc and Keller Williams Realty, including reasonable attorney’s fees, from any and all claims with regard to such commission.
Broker must bring all forms their office requires to the auction to be executed at the signing of the Agreement of Sale/Real Estate Auction Contract
** If non-qualifying terms are accepted, only individuals are eligible, with corporations or partnerships being excluded. There is a $250.00 origination fee.
No Broker will be recognized with a prospect that has previously contacted K&W Auctions Lakeside Inc., or has been previously contacted by Keller Williams Realty. A complete registration file on all prospects will be maintained. There can be no exceptions to this procedure and no oral registrations will be accepted.
I accept and agree to the above terms and conditions. ______
Printed name
Date ______Signature