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Buyer Agency Form
"I need a Buyer Agency Form for a corporate client looking to acquire industrial properties in Lagos, Nigeria, with an exclusive agency period of 12 months starting January 2025, including specific provisions for multiple property acquisitions and a success-based commission structure."
1. Parties: Identifies and provides full details of the buyer (client) and the real estate agent/agency
2. Background: Explains the context of the agreement and the buyer's intention to engage the agent
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Agency Relationship: Formally establishes the agency relationship and whether it's exclusive or non-exclusive
5. Agent's Services and Duties: Details the specific services the agent will provide, including property search, negotiations, and advisory services
6. Client's Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperating with the agent
7. Commission and Fees: Specifies the agent's compensation structure, payment terms, and conditions for earning commission
8. Term and Termination: States the duration of the agreement and conditions for termination
9. Confidentiality: Addresses the handling of confidential information shared during the engagement
10. Liability and Indemnification: Sets out the limitations of the agent's liability and indemnification provisions
11. Governing Law: Specifies that Nigerian law governs the agreement
12. Dispute Resolution: Outlines the process for resolving any disputes between the parties
13. Entire Agreement: Confirms that the document represents the complete agreement between the parties
1. Property Requirements: Used when the buyer has specific property criteria that need to be documented
2. Geographic Limitations: Include when the agent's services are limited to specific regions or states in Nigeria
3. Dual Agency Provisions: Required if the agent may potentially represent both buyer and seller
4. International Considerations: Include for foreign buyers, addressing specific requirements and considerations
5. Anti-Money Laundering Compliance: Additional section for high-value transactions or when dealing with corporate buyers
6. Force Majeure: Optional clause to address unforeseen circumstances that may affect the agreement
7. Assignment Rights: Include when either party may need to transfer their rights under the agreement
1. Schedule A - Commission Structure: Detailed breakdown of commission rates and payment terms
2. Schedule B - Service Level Details: Comprehensive list of services to be provided by the agent
3. Schedule C - Property Requirements: Detailed specifications of the type of property the buyer is seeking
4. Schedule D - Required Documents: List of documents the buyer must provide for due diligence
5. Appendix 1 - Agent's License and Credentials: Copies of the agent's professional licenses and certifications
6. Appendix 2 - Agency Disclosure Form: Standard form explaining the nature of the agency relationship as required by Nigerian law
Authors
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Investment Management
Commercial Property
Residential Property
Retail
Industrial
Hospitality
Legal
Real Estate
Property Management
Facilities
Procurement
Compliance
Corporate Services
Operations
Investment
Risk Management
Finance
Real Estate Agent
Property Consultant
Real Estate Broker
Property Acquisition Manager
Real Estate Legal Counsel
Property Portfolio Manager
Real Estate Investment Manager
Facilities Manager
Corporate Real Estate Manager
Property Buyer's Representative
Real Estate Transaction Coordinator
Real Estate Compliance Officer
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