Some state real estate commissions require the use of a buyout addendum when a real estate broker enters into a contract to purchase a property: i) concurrent with the listing of such property; ii) as an inducement or to facilitate the property owner's purchase of another property; or iii) continues to market that property on behalf of the owner under an existing listing contract.
It is generally recommended that a real estate broker use such an addendum when he/she continues to market the property and is only agreeing to buy it to make the deal. If a licensee actually wants to own the property, using the addendum does not solve the conflict of interest.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Miami-Dade Florida Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate is a legal document used in real estate transactions in Miami-Dade County, Florida. This addendum serves as an agreement between the buyer, seller, and real estate broker involved in the transaction, outlining specific terms related to the buyout of the broker and adjustments to the property's price. The purpose of the Miami-Dade Florida Real Estate Broker Buyout and Price Addendum is to ensure a smooth and fair transaction process by addressing the compensation of the real estate broker and any necessary adjustments to the property's price. This addendum is crucial in circumstances where the involvement of the broker necessitates additional financial considerations or modifications to the originally agreed-upon purchase price. Keywords: Miami-Dade Florida, real estate, broker, buyout, price addendum, contract, buy and sell, property, transaction, compensation, adjustments, purchase price. Different types of Miami-Dade Florida Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate may include: 1. Exclusive Listing Agreement Buyout and Price Addendum: This type of addendum is utilized when a buyer and seller enter into an exclusive listing agreement with a real estate broker. It outlines the terms of the broker's buyout and adjustments to the property's price if the buyer decides to purchase the property during the listing period. 2. Open Listing Agreement Buyout and Price Addendum: This addendum is applicable when a seller lists their property with multiple brokers without an exclusive agreement. It addresses the buyout and price adjustments for the broker who brings in the buyer in such a scenario. 3. Co-Brokerage Agreement Buyout and Price Addendum: In cases where more than one broker is involved in a real estate transaction, this addendum establishes the buyout terms and price adjustments for each broker. 4. Dual Agency Agreement Buyout and Price Addendum: When a real estate broker represents both the buyer and the seller in a transaction, this addendum specifies the buyout conditions and price modifications to ensure fairness and clarity. 5. Buyer's Agent Agreement Buyout and Price Addendum: This type of addendum focuses on the buyout terms and price adjustments if the buyer terminates the agreement with their agent and purchases a property through another broker. These variations of Miami-Dade Florida Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate accommodate different scenarios and ensure that the involvement of brokers is properly accounted for within the transaction process.Miami-Dade Florida Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate is a legal document used in real estate transactions in Miami-Dade County, Florida. This addendum serves as an agreement between the buyer, seller, and real estate broker involved in the transaction, outlining specific terms related to the buyout of the broker and adjustments to the property's price. The purpose of the Miami-Dade Florida Real Estate Broker Buyout and Price Addendum is to ensure a smooth and fair transaction process by addressing the compensation of the real estate broker and any necessary adjustments to the property's price. This addendum is crucial in circumstances where the involvement of the broker necessitates additional financial considerations or modifications to the originally agreed-upon purchase price. Keywords: Miami-Dade Florida, real estate, broker, buyout, price addendum, contract, buy and sell, property, transaction, compensation, adjustments, purchase price. Different types of Miami-Dade Florida Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate may include: 1. Exclusive Listing Agreement Buyout and Price Addendum: This type of addendum is utilized when a buyer and seller enter into an exclusive listing agreement with a real estate broker. It outlines the terms of the broker's buyout and adjustments to the property's price if the buyer decides to purchase the property during the listing period. 2. Open Listing Agreement Buyout and Price Addendum: This addendum is applicable when a seller lists their property with multiple brokers without an exclusive agreement. It addresses the buyout and price adjustments for the broker who brings in the buyer in such a scenario. 3. Co-Brokerage Agreement Buyout and Price Addendum: In cases where more than one broker is involved in a real estate transaction, this addendum establishes the buyout terms and price adjustments for each broker. 4. Dual Agency Agreement Buyout and Price Addendum: When a real estate broker represents both the buyer and the seller in a transaction, this addendum specifies the buyout conditions and price modifications to ensure fairness and clarity. 5. Buyer's Agent Agreement Buyout and Price Addendum: This type of addendum focuses on the buyout terms and price adjustments if the buyer terminates the agreement with their agent and purchases a property through another broker. These variations of Miami-Dade Florida Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate accommodate different scenarios and ensure that the involvement of brokers is properly accounted for within the transaction process.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
