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Exclusive selling contract. To: _________, Broker For and in consideration of your agreement to list and endeavor to sell the property described below, the undersigned seller, being the owner of it, by this contract gives you the exclusive right and authority to sell the property beginning today and continuing for a period of _________ months from the date of this contract. I further agree to pay the schedule of charges or rates of commission covering such transactions, now in effect in _________, if such sale be made by you or me, or by any other person acting for me or in my behalf, upon the terms mentioned below, or any other terms acceptable to me, or if the property is afterwards sold, within _________ months from the termination of this contract, to a purchaser to whom it was submitted by me or you during the life of this contract. Street number: _________. Description [to be attached to and form a part of this agreement]: _________. Terms of payment: Purchaser may either pay all cash, or $_____ cash, balance to be first loan on captioned property in favor of seller, amortized [_________ years or less at _____% interest] payable monthly, first monthly payment being due and payable _________ days from closing date, this loan to be given by purchaser. Prepayment privilege: Purchaser shall have privilege to make prepayment at any time [on any payment date] in full or in multiple of monthly payments, and so to do without penalty. Outstanding rental contracts: _________. To be assigned to purchaser as part of property sold and covered by sale price. Outstanding incumbrances: Mortgages: _________. To be assumed by purchaser and credited on sale price. To be discharged out of purchase price. Mechanics' liens: _________. To be assumed by purchaser and credited on sale price. [To be discharged out of purchase price.] Taxes, assessments and insurance premiums: To be prorated as of date of giving of possession to purchaser. Other: _________. To be discharged out of purchase price. Undisclosed: At option of purchaser, to be discharged out of purchase price, to be assumed by purchaser and credited on purchase price, or to be ground for cancellation of contract of sale. In event of cancellation of contract by purchaser for undisclosed incumbrances, liens or cloud on title, seller will be liable to broker for commission as though contract of sale were not canceled. Sale price: $_____. Possession: To be given to purchaser not later than _________ days from closing date. Broker is given the privilege of placing signs on the property and otherwise advertising it. In any exchange of the aforesaid property, you are given the right, in negotiating such exchange, to collect commissions on all properties involved in the transaction. This agency contract shall be binding upon, and inure to the benefit of the heirs, executors, administrators, and assigns of the respective parties to this agreement. The undersigned accept the above exclusive sales contract on the terms and conditions set forth in it. Accepted by: _________ _________[Signatures of owner and broker]
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