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Exclusive Right-To-Buy Contract BC60 - Colorado

Exclusive Right-To-Buy Contract Form. This is a Colorado form and can be used in Real Estate Statewide .
 Fillable pdf Last Modified 7/22/2011
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (BC60-8-10) (Mandatory 1-11) THIS IS A BINDING CONTRACT. THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. Compensation charged by brokerage firms is not set by law. Such charges are established by each real estate brokerage firm. DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE BUYER AGENCY, SELLER AGENCY, OR TRANSACTION-BROKERAGE. EXCLUSIVE RIGHT-TO-BUY LISTING CONTRACT BUYER AGENCY TRANSACTION-BROKERAGE Date: 1. AGREEMENT. Buyer and Brokerage Firm enter into this exclusive, irrevocable contract (Buyer Listing Contract) as of the date set forth above. BROKER AND BROKERAGE FIRM. 2.1. Multiple-Person Firm. If this box is checked, the individual designated by Brokerage Firm to serve as the broker of Buyer and to perform the services for Buyer required by this Buyer Listing Contract is called Broker. If more than one individual is so designated, then references in this Buyer Listing Contract to Broker shall include all persons so designated, including substitute or additional brokers. The brokerage relationship exists only with Broker and does not extend to the employing broker, Brokerage Firm or to any other brokers employed or engaged by Brokerage Firm who are not so designated. 2.2. One-Person Firm. If this box is checked, Broker is a real estate brokerage firm with only one licensed natural person. References in this Buyer Listing Contract to Broker or Brokerage Firm mean both the licensed natural person and brokerage firm, who serve as the broker of Buyer and perform the services for Buyer required by this Buyer Listing Contract. DEFINED TERMS. 3.1. Buyer: and any other person or entity on whose behalf the named party acts, directly or indirectly, to Purchase the Property. 3.2. 3.3. Brokerage Firm: Broker: 3. 2. 3.4. Property. Property means real estate which substantially meets the following requirements or similar real estate acceptable to Buyer: Purchase. 3.5.1. Purchase means the acquisition of any interest in the Property or the creation of the right to acquire any interest in the Property (including a contract or lease). It also includes an agreement to acquire any ownership interest in an entity that owns the Property. 3.5.2. If this box is checked, Buyer authorizes Broker to negotiate a lease of the Property. Lease of the Property or Lease means any lease of an interest in the Property. 3.6. Term. The Term of this Buyer Listing Contract shall begin on , and shall continue through the earlier of (1) completion of the Purchase of the Property or Lease of the Property or (2) . Broker shall continue to assist in the completion of any purchase or lease for which compensation is payable to Brokerage Firm under § 7 of this Buyer Listing Contract. 3.7. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation "N/A" or the word "Deleted" means not applicable. The abbreviation "MEC" (mutual execution of this contract) means the date upon which both parties have signed this Buyer Listing Contract. 3.8. Day; Computation of Period of Days, Deadline. 3.8.1. Day. As used in this Buyer Listing Contract, the term "day" shall mean the entire day ending at 11:59 p.m., United States Mountain Time (Standard or Daylight Savings as applicable). 3.5. BC60-8-10. EXCLUSIVE RIGHT-TO-BUY LISTING CONTRACT Page 1 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 3.8.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified, the first day is excluded and the last day is included, e.g., three days after MEC. If any deadline falls on a Saturday, Shall Not be extended to the next day that is Shall Sunday or federal or Colorado state holiday (Holiday), such deadline not a Saturday, Sunday or Holiday. Should neither box be checked, the deadline shall not be extended. BROKERAGE RELATIONSHIP. 4.1. If the Buyer Agency box at the top of page 1 is checked, Broker shall represent Buyer as a Buyer's limited agent (Buyer's Agent). If the Transaction-Brokerage box at the top of page 1 is checked, Broker shall act as a Transaction-Broker. 4.2. In-Company Transaction ­ Different Brokers. When the seller and Buyer in a transaction are working with different brokers, those brokers continue to conduct themselves consistent with the brokerage relationships they have established. Buyer acknowledges that Brokerage Firm is allowed to offer and pay compensation to brokers within Brokerage Firm working with a seller. 4.3. In-Company Transaction ­ One Broker. If the seller and Buyer are both working with the same Broker, Broker shall function as: 4.3.1. Buyer's Agent. If the Buyer Agency box at the top of page 1 is checked, the parties agree the following applies: 4.3.1.1. Buyer Agency Only. Unless the box in § 4.3.1.2 (Buyer Agency Unless Brokerage Relationship with Both) is checked, Broker shall represent Buyer as Buyer's Agent and shall treat the seller as a customer. A customer is a party to a transaction with whom Broker has no brokerage relationship. Broker shall disclose to such customer Broker's relationship with Buyer. 4.3.1.2. Buyer Agency Unless Brokerage Relationship with Both. If this box is checked, Broker shall represent Buyer as Buyer's Agent and shall treat the seller as a customer, unless Broker currently has or enters into an agency or Transaction-Brokerage relationship with the seller, in which case Broker shall act as a Transaction-Broker. 4.3.2. Transaction-Broker. If the Transaction-Brokerage box at the top of page 1 is checked, or in the event neither box is checked, Broker shall work with Buyer as a Transaction-Broker. A Transaction-Broker shall perform the duties described in § 5 and facilitate purchase transactions without being an advocate or agent for either party. If the seller and Buyer are working with the same broker, Broker shall continue to function as a Transaction-Broker. 5. BROKERAGE DUTIES. Brokerage Firm, acting through Broker, as either a Transac
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