C. TIMING OF COMPENSATION: Compensation is payable: (1) Upon completion of any resulting transaction, and through escrow. Broker shall be entitled to compensation whether any escrow resulting from this Agreement closes during or after the Representation Period. (2) If acquisition is prevented by default of Prospective Buyer, upon Prospective Buyer's default. (3) If acquisition is prevented by a party to the transaction other than Prospective Buyer, when Prospective Buyer collects damages by suit, settlement or otherwise. Compensation shall equal one-half of the damages recovered, not to exceed the compensation provided for in paragraph 4B(1), after first deducting the unreimbursed payments, credits and expenses of collection and suit, if any. D.PAYMENT THROUGH ESCROW: Prospective Buyer hereby irrevocably assigns to Broker the compensation provided for in this Agreement from Prospective Buyer funds in escrow. Prospective Buyer agrees to submit to escrow any funds needed to compensate Broker under this Agreement. Broker may submit this Agreement, as instructions to compensate Broker, to any escrow regarding Property involving Prospective Buyer and a seller or other transferor. E.ACCOUNTING FOR PAYMENTS TO BROKER IF BROKER ALSO REPRESENTS SELLER: If Broker has a signed listing agreement with the seller of the Property to be purchased, Prospective Buyer shall not receive a credit for the compensation seller owes broker for representing Seller.
F. PAYMENTS RECEIVED FROM OTHERS LESS THAN PROSPECTIVE BUYER COMPENSATION OBLIGATION:
(1) If Prospective Buyer owes Broker compensation, after first deducting payments, if any, due to Broker from others, Broker and Prospective Buyer should discuss the potential benefits and detriments of including a term in any offer Prospective Buyer makes obligating the seller to pay Broker, directly or through escrow, for some or all of any remaining compensation that Prospective Buyer owes Broker. (2)If seller contractually agrees with Prospective Buyer to pay all or part of Broker's compensation, and seller does not pay as contractually required, Prospective Buyer assigns to Broker, as a third-party beneficiary, any rights Prospective Buyer has to pursue the seller for such compensation.
6. CANCELLATION OF REPRESENTATION AGREEMENT:
A. Either Prospective Buyer or Broker may cancel this Agreement by giving written notice to the other within the time specified in paragraph 4C. B. Broker shall still be entitled to compensation if, during the Representation Period, Prospective Buyer acquires Property for which there was Broker Involvement provided Broker delivers to Prospective Buyer a written list of those properties for which there was Broker Involvement (C.A.R. Form NBIP The written list of Broker Involvement properties shall be delivered to Prospective Buyer within 5 calendar days after the effective date of the cancellation. C.Before, during and after the 5-day period, Prospective Buyer is advised to notify any other broker of Broker's rights under this paragraph.
A.DISCLOSURE: Broker will provide Prospective Buyer with a Disclosure Regarding Real Estate Agency Relationships (C.A.R. Form AD) as soon as practicable prior to writing an offer. B.POSSIBLE DUAL AGENCY WITH SELLER: Broker will represent Prospective Buyer in any resulting transaction. Broker may act as an agent for both Prospective Buyer and a seller. Broker, in writing, shall confirm the agency relationship with only Prospective Buyer, or both Prospective Buyer and Seller, prior to or concurrent with Prospective Buyer's execution of a contract to acquire a Property. Prospective Buyer acknowledges and consents to Broker, including agents in Broker's firm, representing other prospective buyers for the Property. 8.BROKER AUTHORIZATIONS AND OBLIGATIONS: Broker is authorized to diligently represent Prospective Purchaser in any resulting transaction for the Property entered into during the Representation Period. If the Property contains residential property with one to four dwelling units, Broker will perform a reasonably competent and diligent visual inspection of the accessible areas of the Property. 9.PROSPECTIVE BUYER OBLIGATIONS: Prospective Buyer will act timely and in good faith to communicate and cooperate with Broker regarding any material issues or factors in any resulting transaction during the representation period. If requested, Prospective Buyer shall provide relevant personal and financial information.
PROSPECTIVE BUYERS ATTENDING AN OPEN HOUSE WITHOUT REPRESENTATION:
(1) You are not required to sign a representation agreement to see this Property at an open house. (2) If you do not want the agent holding the open house to represent you, then you should not sign this form, and you should read and understand the Open House Visitor Non-Agency Disclosure and Sign-In (C.A.R Form OHNA-SI
(1) If you have already signed a representation agreement with another broker, you should inform Broker of the name of that other broker and provide a copy of that agreement to Broker or request Broker to obtain a copy from the other broker. (2) If you have already signed a representation agreement with another broker, and you sign this form, you may be obligated to pay two different brokers if you purchase this Property.