Tennessee Contract to Assist Real Estate Agent or Realtor in Closing Sale of Residential Property

• Category: Real Estate - Contracts - Residential
• State: Multi-State
• Control #: US-00734BG
• Format: Word; Rich Text

Description

This form is a sample of an agreement between a realtor and an administrative contractor to assist the realtor with residential real estate transactions from the execution of the contract by the buyer and seller to the consummation of the sale of the residential real estate. A Tennessee Contract to Assist Real Estate Agent or Realtor in Closing Sale of Residential Property is a legally binding agreement between a real estate agent or realtor and a client, outlining the terms and conditions of the agent's assistance in the closing process of a residential property sale in the state of Tennessee. This contract helps to clarify the roles and responsibilities of both parties, ensuring a smooth and successful closing. Key aspects covered in the contract include: 1. Parties involved: Clearly identifying the client (seller or buyer) and the real estate agent or realtor (representing the client's interests) entering into the contract. 2. Property details: Providing a detailed description of the residential property being sold, including address, legal description, and any other relevant information. 3. Listing terms and conditions: If the agent is assisting the seller, this section outlines the listing terms, such as the listing price, duration of the listing agreement, commission structure, and any special conditions. If the agent is helping the buyer, it may specify the buyer's representation agreement and any relevant buyer-specific terms. 4. Services provided by the agent: Describing the services the agent will provide to facilitate the closing process, which may include marketing the property, arranging showings, negotiating offers, coordinating inspections, and managing the necessary paperwork. 5. Compensation: Clarifying the manner in which the agent will be compensated for their services, usually specifying a percentage of the final sale price as the commission. Any fee-sharing agreements with other agents involved in the transaction may also be mentioned. 6. Authorization: Confirming that the client authorizes the agent to act on their behalf during the closing process, including signing documents and making decisions related to the transaction. 7. Termination of contract: Outlining the circumstances under which either party may terminate the contract, along with any applicable conditions and notice requirements. It's important to note that there can be different types of Tennessee Contracts to Assist Real Estate Agent or Realtor in Closing Sale of Residential Property based on specific scenarios or circumstances. These may include: 1. Exclusive Right-to-Sell Listing Agreement: This type of contract is commonly used when a seller appoints a real estate agent to exclusively represent them in marketing and selling the property, with the agent being entitled to their commission regardless of who brings the buyer. 2. Exclusive Agency Listing Agreement: Similar to the exclusive right-to-sell listing agreement, but with the seller reserving the right to sell the property themselves without owing a commission to the agent. 3. Buyer's Representation Agreement: This type of contract is employed when a buyer engages the services of a real estate agent to assist them in finding and purchasing a suitable residential property in Tennessee. Each type of contract may have its own unique terms and conditions, which should be carefully reviewed and tailored to suit the unique needs of the parties involved.

A Tennessee Contract to Assist Real Estate Agent or Realtor in Closing Sale of Residential Property is a legally binding agreement between a real estate agent or realtor and a client, outlining the terms and conditions of the agent's assistance in the closing process of a residential property sale in the state of Tennessee. This contract helps to clarify the roles and responsibilities of both parties, ensuring a smooth and successful closing. Key aspects covered in the contract include: 1. Parties involved: Clearly identifying the client (seller or buyer) and the real estate agent or realtor (representing the client's interests) entering into the contract. 2. Property details: Providing a detailed description of the residential property being sold, including address, legal description, and any other relevant information. 3. Listing terms and conditions: If the agent is assisting the seller, this section outlines the listing terms, such as the listing price, duration of the listing agreement, commission structure, and any special conditions. If the agent is helping the buyer, it may specify the buyer's representation agreement and any relevant buyer-specific terms. 4. Services provided by the agent: Describing the services the agent will provide to facilitate the closing process, which may include marketing the property, arranging showings, negotiating offers, coordinating inspections, and managing the necessary paperwork. 5. Compensation: Clarifying the manner in which the agent will be compensated for their services, usually specifying a percentage of the final sale price as the commission. Any fee-sharing agreements with other agents involved in the transaction may also be mentioned. 6. Authorization: Confirming that the client authorizes the agent to act on their behalf during the closing process, including signing documents and making decisions related to the transaction. 7. Termination of contract: Outlining the circumstances under which either party may terminate the contract, along with any applicable conditions and notice requirements. It's important to note that there can be different types of Tennessee Contracts to Assist Real Estate Agent or Realtor in Closing Sale of Residential Property based on specific scenarios or circumstances. These may include: 1. Exclusive Right-to-Sell Listing Agreement: This type of contract is commonly used when a seller appoints a real estate agent to exclusively represent them in marketing and selling the property, with the agent being entitled to their commission regardless of who brings the buyer. 2. Exclusive Agency Listing Agreement: Similar to the exclusive right-to-sell listing agreement, but with the seller reserving the right to sell the property themselves without owing a commission to the agent. 3. Buyer's Representation Agreement: This type of contract is employed when a buyer engages the services of a real estate agent to assist them in finding and purchasing a suitable residential property in Tennessee. Each type of contract may have its own unique terms and conditions, which should be carefully reviewed and tailored to suit the unique needs of the parties involved.