Transaction Coordinator Agreement
THIS AGREEMENT (the “Agreement”), is entered into upon new contract submission by and between:
White Glove Transactions, LLC, (hereby known as "WGT"), and Agent (hereby known as the "AGENT");
WHEREAS, the AGENT desires to hire the services of White Glove Transactions, LLC to render services to Transaction Coordination;
NOW, THEREFORE, for and in consideration of the mutual covenants made by the parties hereto, the Parties to this agreement agree as follows:
WGT agrees that it shall exercise reasonable effort and due diligence to render services to the AGENT on matters pertaining to Transaction Coordination (the “Services”).
WGT will act ONLY as the Transaction Coordinator on all hired transactions. WGT is NOT the acting real estate licensee with regards to the property transactions and THEREFORE is not responsible as such.
The AGENT will complete all other aspects of the transactions and work with all parties to ensure cooperation with the WGT Transaction Coordinator assigned to these transactions.
Compensation and Payment
Unless otherwise agreed upon by written agreement, the AGENT shall provide payment to WGT for Services as outlined:
Cash Transaction $250
Lender Transaction $300
REO / HUD / SS Transaction: $350
(Dual Closing - Additional $100)
Listing Input: $100
Compensation and Payment regarding Release and Cancellations
Should the transaction release and cancel after the inspection contingency date, the AGENT will incur a $150 charge for services rendered.
Should the transaction release and cancel within 72 hours (3 days) of the contractual closing date, full services will have been considered rendered, and the AGENT will be charged the full Transaction service fee.
This Agreement shall commence upon assignment of each transaction, unless otherwise terminated by WGT or the AGENT or by mutual agreement of the parties herein. Payment for transaction services will be due upon contract closing. Payment for Listing Input will be due at time of service.
In the event that the AGENT desires to terminate the Services of WGT hereunder, the AGENT shall submit a letter to WGT in not less than 7 (seven) days prior to the desired date of termination. All monies receivable by WGT shall be due and demandable. Termination of Services to pending transaction(s) by the AGENT will be charged a $150 cancellation fee on each transaction.
In the event that a law or regulation is passed, the operation or implementation of which would result in the non-execution of the obligation of any of the parties to this Contract, shall automatically result to expiration and be deemed terminated upon the date of its occurrence.
WGT agrees to refrain from disclosing to any third party any details regarding the AGENT's business, including any information regarding any of the AGENT's customers and businesses.
WGT shall not disclose, transmit, or convey, wholly or partially, the confidential information to any third party without the written consent of the other party.
The foregoing notwithstanding, in the event that the recipient of the confidential information is legally compelled or required by any governmental body, court, or competent authority to disclose any such confidential information, if shall promptly notify the other party so that the latter may be able to seek a protective order or avail itself of other appropriate remedies and/or waive compliance with the provisions hereof. The provisions of this section shall survive the termination of this Contract for whatever reason.
The AGENT is ultimately responsible for acquiring the appropriate signatures of all parties involved in the transactions and returning documentation to WGT.
The AGENT agrees that they will abide by any and all state and federal laws as applicable to these types of transactions and that they are duly licensed by the appropriate entities.
The AGENT hereby agrees to release WGT from any and all liabilities that may arise by virtue of these real estate transactions and the AGENT further agrees to indemnify, defend and hold WGT harmless from all claims, disputes, litigation, judgments, and attorney fees that may arise in connection with these transactions and also from any incorrect information supplied by third parties to WGT, or from any material facts that third parties know but fail to disclose to WGT.
No modification or alteration on this Contract shall be considered as having been made unless done with consent by the Parties and fully executed in writing and duly signed by the Parties hereto.
This Agreement shall be governed by and construed in accordance with the laws of the State of Florida, to the exclusion of the other federal and state courts