Effective April 1, 2010.
Seller hereby employs and grants California Timeshare Resales (Broker) the non-exclusive right to sell the timeshare specified in form being emailed to Broker. Seller has the right to cancel this agreement at any time. Seller agrees to notify Broker if Seller sells or disposes of the timeshare.
ASKING PRICE: The seller will transmit an asking price to Broker. Broker retains the right to reject any over priced listing.
COMMISSION: At the close of escrow the seller agrees to compensate California Timeshare Resales 15% of the sales price with a minimum of $1500. being due for each timeshare interval sold.
FIRST RIGHT OF REFUSAL (FROR): In the event that the resort/developer (most resorts do not have this, Marriott, ILX, Villas on the Green and Welk Platinum points do have FROR) has a first right of refusal for the timeshare and the resort/developer exercises that first right of refusal after the Broker has obtained a Buyer satisfactory to the Seller it is agreed between the Seller and the Broker that the Broker has earned his commission and that the Broker was the procuring cause of the sale. If the resort/developer fails to pay Broker from proceeds of sale, Seller agrees to pay Broker the commission that has been earned. Currently (June 2009) we are not aware of any developer exercising FROR although they do require us to obtain a waiver of the FROR.
AGENCY: Seller hereby consents to Broker acting as a dual agent representing both the Buyer and the Seller. In the event that a cooperating broker is the agent for the Buyer, California Timeshare Resales will act as agent for the Seller only.
AUTHORIZATION: Seller authorizes the resort, exchange companies, and the resort management company to cooperate and assist the Broker in verifying all information as is necessary to complete the sale.
OTHER LISTINGS: Seller understands that California Timeshare Resales may have or obtain other listings in the same or similar resorts, and that potential buyers may be offered, may make offers, or purchase through California Timeshare Resales property similar, or the same as Seller’s property.
DEPOSIT: California Timeshare Resales is authorized to accept and hold on the Seller’s behalf a deposit to be applied toward the sales price.
ESCROW AND TITLE: Seller is aware that there will be fees in this transaction for closing costs and resort transfer fee. We almost always have the buyer pay for all the closing costs including the resort transfer fee. We also attempt to have the buyer reimburse the seller any prepaid maintenance fees.
SELLER WARRANTS: Seller is the owner of the property or has the authority to execute this contract.
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