The West End Auction - Registration for Broker Participation
Buyer # ____________________
The undersigned hereby agree to the following terms and conditions:
WHEREAS, Jerrold Pedigo Realty, LLC (“JPR”) is conducting an auction (the “Auction”) of certain condominium units located in “The West End”, 110 31st Avenue North, Nashville, Tennessee 37203 (the “Properties” or the “Property”, if individually);
WHEREAS, _________________________ (“Broker”) is the real estate agent for _______________________________ (“Buyer”), and desires to represent Buyer in the potential purchase of one or more Properties; and
NOW, THEREFORE, Broker and Buyer agree as follows:
1. Broker Commission. In the event (a) Buyer contracts to purchase 1 or more Property at the Auction, and (b) Buyer actually closes on 1 or more Property pursuant to that contract (or “those contracts”, as the case may be), for each Property closed Broker shall be entitled to a commission equal to 4% of the Bid Price. “Bid Price” means the price Buyer has bid to purchase 1 or more Property, not including the 10% buyer’s premium.
2. Limitations.
(a) Broker may only earn a commission related to sales made to Buyer, related to contracts entered into at the Auction.
(b) No commission will be paid to Broker, when Buyer becomes a buyer as the result of a contract not resulting from the Auction, and not entered into at the Auction.
(c) Broker and Buyer certify that they have and/or will inspect the Properties, and in bidding and contracting are relying solely on their own inspections and judgments.
(d) No commission shall be paid to any broker representing any relative of broker, to any broker representing a buyer in which that broker has any direct or indirect ownership interest, or to any broker who will have any interest in the Property purchased.
(e) Broker and Buyer acknowledge that JPR is serving only as an agent for West End Partners, LLC, and does not represent Buyer or Broker.
(f) Broker and Buyer both acknowledge receipt of the Terms of Auction Sale of The West End, and shall bear sole responsibility for obtaining any and all amendments or modifications to the terms made or announced prior to the Auction, or at the Auction.
(g) Buyer must be present at the Auction to bid on Properties, and Broker is not permitted to attend the Auction and bid on Buyer’s behalf.
Broker
Signature ___________________________________
Date ________________________________________
Printed Name _______________________________
Company Name _____________________________
Address _____________________________________
Phone and Fax ______________________________
E-Mail Address ______________________________
License No. __________________________________
Buyer
Signature ___________________________________
Date ________________________________________
Printed Name _______________________________
Address _____________________________________
Phone and Fax ______________________________
E-Mail Address ______________________________
