Buyer Representation Agreement

Buyer Representation Agreement Template for Denmark

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Document background

The Buyer Representation Agreement is a crucial document used in Danish real estate transactions when a buyer seeks professional representation in property acquisition. This agreement is particularly important in Denmark's regulated real estate market, where specific legal requirements govern agent-client relationships. The document serves to formalize the relationship between a real estate agent and a buyer, outlining the agent's duties in property search, negotiation, and transaction support. It includes essential elements required by Danish law, such as service scope, fee structures, and professional obligations. The agreement is designed to comply with the Danish Estate Agents Act and related regulations, providing clear guidelines for both parties and protecting their interests throughout the property acquisition process. Use of a proper Buyer Representation Agreement is essential for establishing clear expectations and legal compliance in Danish property transactions.

Suggested Sections

1. Parties: Identification of the buyer(s) and the real estate agent/agency, including full legal names, addresses, and registration numbers

2. Background: Brief context explaining the buyer's intention to purchase property and seek representation

3. Definitions: Key terms used throughout the agreement, including technical real estate and legal terminology

4. Scope of Services: Detailed description of services the agent will provide, including property search, negotiations, and advisory services

5. Agent's Obligations: Specific duties and responsibilities of the agent, including fiduciary duties, disclosure requirements, and professional standards

6. Client's Obligations: Buyer's responsibilities, including providing accurate information and cooperating with the agent

7. Compensation: Fee structure, payment terms, and conditions for when fees become payable

8. Confidentiality: Obligations regarding confidential information and personal data protection

9. Duration and Termination: Term of the agreement and conditions for termination by either party

10. Liability and Insurance: Extent of agent's liability and professional insurance coverage

11. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction for disputes

Optional Sections

1. Exclusive Representation: Terms establishing exclusive rights of representation, used when the parties agree to an exclusive arrangement

2. International Purchases: Additional terms for cross-border transactions, included when buyer is seeking foreign property

3. Multiple Buyers: Special provisions for multiple buyers acting together, used when there are joint buyers

4. Special Property Requirements: Specific criteria or requirements for the property search, included when buyer has particular needs

5. Success Fee: Additional compensation terms based on successful completion, used when parties agree to performance-based fees

6. Power of Attorney: Authorization for agent to act on buyer's behalf in specific situations, included when needed for specific transactions

Suggested Schedules

1. Schedule 1 - Service Description: Detailed breakdown of all services included in the representation

2. Schedule 2 - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms

3. Schedule 3 - Property Requirements: Detailed list of buyer's requirements for the property search

4. Appendix A - Agent's Credentials: Copies of agent's licenses, certifications, and professional registrations

5. Appendix B - Privacy Notice: Detailed information about personal data handling and GDPR compliance

6. Appendix C - Complaint Procedure: Information about the process for handling disputes and complaints

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