Broker Acknowledgement
I expressly acknowledge and agree to the following Terms and Conditions: 1. I have read, signed, and agree to be bound by, the Terms and Conditions of Participation for the Auction Sale of the above Property; 2. A commission of 20% of the 10% Buyer's Premium charged or 20% of any negotiated commission will be paid to any properly licensed real estate broker whose Buyer/Bidder is the successful purchaser for this property, and who actually closes and pays the total Contract Price and Closing Costs for this property. It is understood and agreed that the Broker commission structure will be based on the stated terms and conditions of sale; 3. Commission is contingent upon, and will ONLY be paid if broker participation form is received by the auction company no later than 5 pm on the day before the auction, no exceptions; 4. Broker agrees that Broker will not claim any exceptions to the foregoing procedures; 5. Broker agrees that if the commission is reduced due to negotiations between buyer and seller the commission to the broker shall be 20% of total commission earned; 6. Broker agrees that Broker’s commission will be due upon closing of the purchase by his Buyer/Bidder with all consideration paid in full; 7. Broker/Agent must accompany their buyer/bidder to the auction; 8. Broker shall not be entitled to said commission on account of any sale to an entity of which (or any affiliante of which) the broker is a principal, employee, or affiliate, or immediate family member. 9. Broker agrees that he/she shall hold harmless and indemnify this company, including its reasonable attorney’s fees, from any and all claims with regard to such commission. By checking this box, I acknowledge that I have read and understood the Broker Acknowledgement above.
