BROKER COMMISSION BREAKDOWN
Cash and Construction Loan
- Commissions based on the purchase price of land to be paid at closing.
- Remaining Commissions based on the construction price to be paid at the second payment by client or lender (The deposit payment for construction is considered the first payment.) To ensure that the client qualifies, and the project is moving forward.
The following constitutes the entire agreement (the “Agreement”) by and between (“Seller”) LIVV UPP, LLC (“Contractor”) and the “Broker” listed below regarding a potential referral fee described in Paragraphs 1 and 2 below with respect to the Buyer(s) and the VACANT LAND AND SALE PURCHASE AGREEMENT AND HOME CONSTRUCTION AGREEMENT to purchase the lot and construction a custom luxury-single family home on the above mentioned property address. No other representations or acknowledgements shall be binding upon either party unless agreed to in writing by both parties. The parties agree as follows:
- Seller shall pay to Broker a Referral Fee equal to three percent (3%) of the land purchase price listed in the Land Purchase Agreement. For Brokers and Agents that attend the LIVV Broker Event on July 21st 2023, Seller shall pay to Broker an additional Referral Fee equal to three percent (3%) of the land purchase price listed in the Land Purchase Agreement. All Referral Fees will be paid at Closing.
- Contractor shall pay to Broker a Referral Fee equal to three percent (3%) of the construction price listed in the Home Construction Agreement. Referral Fee will be paid at second payment by Buyer or Buyer’s Lender. The first payment is considered to be the deposit payment.
- It is a condition for the payment of any Referral Fee that Broker accompanies and registers Buyer(s) with Seller and Developer at the time of Buyer’s first visit as a prospective client. Broker shall not be entitled to any Referral Fee if Buyer or any relative of Buyer or any other person designated by Buyer has visited Seller and Developer without Broker prior to the date of this Agreement.
- The registration of the Broker shall be established only for the particular Buyer of the Property but shall be established only by: (a) complete execution and acceptance of this Agreement and (b) Buyer’s completion of Contractor’s Registration Form referencing that Broker referred Owner to Seller. Upon request, a copy of the Agreement will be given to Broker. Any attempt by Broker to effectuate a broker relationship with Seller and Contractor without Broker’s actual presence at Owner’s first visit shall be null and void.
- Broker understands and agrees that any fees Buyer has agreed to pay to Broker are Buyer’s entire responsibility.
- If Broker wishes the Referral Fee to be reduced and a portion to be paid to Buyer(s), Contractor will require Buyer(s) to execute Contractor’s Referral Fee Credit Disclosure.
- Broker represents that it is licensed as a real estate broker or salesperson in the state in which the Property is located. To the extent required by law, Broker must provide an executed Duties Owed form which disclosures Broker’s relationship with Buyer (executed by Broker and Buyer) indicating that Broker is the agent of Buyer exclusively prior to Buyer’s execution of a Vacant Land Purchase and Sale Agreement and Home Construction Agreement. Broker represents and warrants that its license number as set forth below accurately represents its current, active license number.
- Broker agrees to indemnify and hold harmless Seller and Contractor, Seller’s and Contractor’s parent, subsidiary and affiliate companies and Seller’s and Contractor’s employees, agents, officer and directors (collectively, the “Affiliates” from and against any and all claims, charges, costs, fees, obligations, damages, liabilities, expenses and attorneys’ fees incurred by Seller or the Affiliate by virtue of Broker’s actions or errors with respect to or in connection with this Agreement or the potential transaction between Seller and Buyer(s).
- Broker has no independent authority to bind Buyer, Seller, or Contractor. Only Seller’s Land Purchase Agreement will be used. Broker may not advertise any of Contractor’s homes in any printed form.
- Broker is not authorized to and shall not make any warranties, representations, or covenants regarding the above-referenced Land Purchase Agreement or on behalf of Seller.
- In accordance with NRS 645.635, Broker herby acknowledges and agrees that Seller and Contractor may contact and communicate directly with Buyer in connection with Buyer’s Vacant Land Purchase and Sale Agreement with Seller and Home Construction Agreement with Contractor. Seller and Contractor shall have no obligation to notify Broker of any communication with Buyer. For the purposes of this Agreement, “Buyer(s)” shall mean the Buyer(s) shown on the executed Vacant Land Purchase and Sale Agreement or as Prospective Buyer(s) prior to the execution of the Vacant Land Purchase and Sale Agreement.
This agreement shall not be effective unless it has been executed by an authorized office of Seller and Contractor. On-site sales representatives are not authorized representatives of Seller and Contractor for such purposes.
ALL CHECKS WILL BE ISSUED AS DIRECTED ONLY TO THE BROKER LISTED BELOW.
LIVV UPP, LLC
Broker’s representation of Buyer and Broker’s rights under this Broker Referral Fee Agreement
a re-acknowledged by Buyer(s) as of the same date of Broker’s signature above. Buyer
acknowledges that Broker is not authorized to make any warranties, representations, or
covenants regarding the above-referenced Land Purchase Contract or on behalf of Seller.