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.
North Dakota 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 North Dakota. It provides a detailed description of the terms and conditions related to the buyout of a real estate broker and the pricing addendum for buying and selling properties. Keywords: North Dakota, real estate, broker buyout, price addendum, contract, buy and sell, properties, transactions, terms and conditions. There are different types of North Dakota Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate, including: 1. Residential Broker Buyout: This addendum specifically applies to residential properties, outlining the terms and conditions related to the buyout of a real estate broker and the pricing addendum for the sale or purchase of a residential property. 2. Commercial Broker Buyout: This addendum is specifically designed for commercial real estate transactions. It covers the terms and conditions related to the buyout of a commercial real estate broker and the pricing addendum for commercial properties. 3. Land Broker Buyout: This addendum is used when dealing with the sale or purchase of land. It addresses the terms and conditions related to the buyout of a land broker and the addendum for pricing. 4. Multi-Unit Broker Buyout: This addendum is used when dealing with multi-unit properties, such as apartment complexes or condominiums. It includes specific terms and conditions related to the buyout of a broker and the pricing addendum for multi-unit properties. 5. Exclusive Broker Buyout: This addendum is used when there is an exclusive agreement between the seller or buyer and the real estate broker. It highlights the terms and conditions related to the buyout of the exclusive broker and the pricing addendum for the property. In conclusion, the North Dakota Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate is a crucial legal document used in various types of real estate transactions. It outlines the terms and conditions related to the broker buyout and pricing addendum for buying and selling residential, commercial, land, multi-unit, and exclusive properties in North Dakota.North Dakota 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 North Dakota. It provides a detailed description of the terms and conditions related to the buyout of a real estate broker and the pricing addendum for buying and selling properties. Keywords: North Dakota, real estate, broker buyout, price addendum, contract, buy and sell, properties, transactions, terms and conditions. There are different types of North Dakota Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate, including: 1. Residential Broker Buyout: This addendum specifically applies to residential properties, outlining the terms and conditions related to the buyout of a real estate broker and the pricing addendum for the sale or purchase of a residential property. 2. Commercial Broker Buyout: This addendum is specifically designed for commercial real estate transactions. It covers the terms and conditions related to the buyout of a commercial real estate broker and the pricing addendum for commercial properties. 3. Land Broker Buyout: This addendum is used when dealing with the sale or purchase of land. It addresses the terms and conditions related to the buyout of a land broker and the addendum for pricing. 4. Multi-Unit Broker Buyout: This addendum is used when dealing with multi-unit properties, such as apartment complexes or condominiums. It includes specific terms and conditions related to the buyout of a broker and the pricing addendum for multi-unit properties. 5. Exclusive Broker Buyout: This addendum is used when there is an exclusive agreement between the seller or buyer and the real estate broker. It highlights the terms and conditions related to the buyout of the exclusive broker and the pricing addendum for the property. In conclusion, the North Dakota Real Estate Broker Buyout and Price Addendum to Contract to Buy and Sell Real Estate is a crucial legal document used in various types of real estate transactions. It outlines the terms and conditions related to the broker buyout and pricing addendum for buying and selling residential, commercial, land, multi-unit, and exclusive properties in North Dakota.
