Common use of Broker Fee Clause in Contracts

Broker Fee. Brokers fee is due in the following circumstances: (1) If any interest in the Property is transferred, whether by sale, lease, exchange, bankruptcy, or any other means of transfer, regardless of whether the buyer is secured by the Seller, Broker, or any other person. (2) If Seller refuses or fails to sign an offer at the price and terms stated in this Agreement, defaults on an executed sales contract, or agrees with a Buyer to cancel an executed sales contract. (3) If, within 6 months after the Termination Date (“Protection Period”) Seller transfers or contracts to transfer the Property or any interest in the Property to any prospects with whom Seller, Broker, or an Broker or Brokers agent communicated regarding the Property before the Termination Date. However no fee will be due Broker if the Property is relisted after the Termination Date and sold through another Broker. Seller authorizes Welcome Home Mobile Homes, LLC to place a lien on sellers title for any unpaid compensation as noted on page 1 of this agreement as well as a transaction fee that a buyer typically pays Welcome Home Mobile Homes, LLC in a transaction.