The "Agent" above is to act as Designated Brokers Agent for the Seller as more fully described in the Agreement.
According to Broker’s company policy, Broker or Broker’s representatives may cooperate with other brokers acting in any capacity other than a subagency. Therefore, Broker will cooperate, in its discretion and when in the best interests of Seller, with and compensate brokers acting as an agent of the other party or in any other recognized brokerage relationship other than a subagency.
The Broker and Agent are to act in accordance with the laws governing real estate.
7. Seller(s) Duties and Responsibilities.
A. Warrants that the information set forth in this Agreement, along with any additional information the Broker may request, is true and accurate to the best of the Seller(s) knowledge.
B. Acknowledges and accepts that the Broker or Agent may obtain information from other licensed Brokers, Agents, or clients, that they must keep confidential.
C. Acknowledges and accepts that other Licensed Brokers or Agents may represent the buyers of Subject Property.
D. Seller is responsible for any latent, hidden, or undisclosed defects in the property in which the Seller(s) had knowledge of before the closing.
The Seller(s) agrees to hold harmless Broker from any and all claims, disputes, lawsuits, litigation, judgements, and costs arising out of Seller(s) breach of contract.
9. General Terms.
TITLE: Seller shall furnish, at Seller’s expense, an owners title insurance commitment and policy providing coverage for the Property. Additionally, Seller agrees to convey the Property by good and sufficient warranty deed.
TAXES AND ASSESSMENTS: Seller shall pay in full all state, county and municipal taxes and assessments, general and special, which are a lien on the Property, except taxes for the year in which the transaction closes, which shall be prorated as of the date of delivery of the deed. If the current amount of taxes cannot be ascertained, pro-ration may be computed on the amount of taxes for the preceding calendar year.
EARNEST MONEY: Seller authorizes Broker to accept a deposit and/or earnest money to be applied on the sales price and to place such sums with a reputable title company, closing company or escrowee. Seller acknowledges that Broker does not maintain an escrow account.
ADVERTISING AND COOPERATING: Seller authorizes Broker to place a FOR SALE sign on the Property and remove all other signs and otherwise advertise the Property in any manner deemed wise by Broker, including but not limited to advertising on the internet, web-sites and communication via facsimile or electronic mail. Seller authorizes Broker to allow prospective buyers to take photographs or video of the interior and exterior of the improvements located on the Property, provided that Broker or his representative is present when such activity is taking place on the Property. Seller allows Broker to use any of these in Broker’s advertising, as above. Seller authorizes Broker to cooperate with and offer compensation to other brokers acting pursuant to any brokerage relationship in accordance with Broker’s company policy and as set forth above.
INSPECTION AND ACCESS: Seller authorizes Broker or its representatives, other brokers and their representatives, lenders, appraisers and inspectors to make or allow third parties to make such inspections of the Property as are deemed necessary to effectuate the sale of the Property. Seller authorizes Broker or representatives to release information and findings from such inspections to interested parties. Seller understands that, regardless of whether inspections are undertaken, Seller has a legal
obligation to disclose to Broker and prospective buyers all adverse material facts of which the Seller is aware or should be aware which exist upon or affect the Property.
FACSIMILE AND ELECTRONIC SIGNATURES: Seller and Broker agree that documents signed digitally/electronically or transmitted by facsimile machines shall be treated as original documents. At the request of any party, the other party will confirm facsimile signatures by signing an original instrument.
NONDISCRIMINATION: The Property is offered without regard to the race, color, religion, sex, handicap, familial status, national origin or ancestry of any prospective buyer, or any other class protected by Article 3 of the Illinois Human Rights Act.
REFERRALS: Seller will refer all inquiries and prospects Seller may receive from any other broker or individual to Broker to avoid the possibility of confusion over the brokerage relationship and misunderstandings about liability for compensation.
CONSIDERATION: Seller acknowledges that the efforts and endeavors of Broker to procure a buyer, by expenditure of time and money, through advertising, co-brokers or otherwise shall constitute good and sufficient consideration for this Listing Contract.
CANCELLATION: This Listing Contract may be cancelled by either party giving notice to the other party of its intent to cancel this contract at the end three business days; provided, however, that Seller’s obligations with respect to paying the Broker’s compensation . Said notice may be sent via facsimile or US Mail.
INDEMNFICATION: Seller agrees to indemnify and hold Broker and its owners, managers, officers, employees, and agents, harmless from all claims, causes of action, damages, risks, demands, liabilities and expenses of any kind and nature (including reasonable attorney’s fees) which arise out of, or relate to, Seller’s breach of this Listing Contract or any other agreement to which Seller is a party, the inaccuracy or incompleteness of any representation or warranty made by Seller, and/or Seller’s fault, negligence, recklessness, or intentional wrong.
COSTS AND ATTORNEYS FEES: In connection with any claim or cause of action which arises out of, or relates to, this Listing Contract, the prevailing party shall be entitled to recover its costs and expenses, including reasonable attorney’s fees, from the other party.
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