1.     Other Buyer Agency Agreement

1.1 Are you currently in an agency relationship with a brokerage? NO

1.2 The Buyer agrees to retain the Buyer's Agent:

a)     to find real estate which the Buyer may be interested in purchasing; and,

b)     to assist the Buyer in negotiating the terms of the purchase.

2.     Terms of This Agreement

2.1 The following properties are excluded from this Contract: NIL

2.2 This Contract will expire at 11:59 PM, 30-360 days from the date you agreed to it unless renewed/extended in writing.

3.     Duties of the Buyer

3.1    The Buyer agrees to:

a)     use only the Buyer's Agent for the services described in clause 2.2;

b)     advise the Buyer's Agent of real estate in which the Buyer is interested;

c)     provide the Buyer's Agent with sufficient personal and financial information to enable the Buyer's Agent to determine the Buyer's ability to purchase real estate;

d)     negotiate in good faith the purchase of a specific property in which the Buyer is interested.

4.      Duties of the Brokerage

4.1 The Buyer's Agent will:

a)     provide the Buyer with information about real estate listed on the Real Estate Board's multiple listing service or such other real estate as the Buyer's Agent is or becomes aware of which may meet the Buyer's requirements;

b)     assist the Buyer at the Buyer's written request and expense to obtain inspections, real property reports, certificates of title and any other searches and additional information which the Buyer may require in order to decide whether to purchase a specific property;

c)     advise prospective sellers or brokerages with whom the Brokerage is negotiating that they represent the Buyer;

d)     exercise fiduciary duties in favour of the Buyer including the duties of loyalty,  obedience, competence, confidentiality, accountability and disclosure, unless limited by the acceptance of Dual Agency;

e)     cooperate with brokerages which represent sellers of real estate;

f)        not disclose the Buyer’s identity if instructed not to do so.

5.     Ending Agreement

5.1 This contract will automatically end if the Buyer's Agent:

a)     has had his/her license to trade in real estate suspended or cancelled under the Real Estate Act (Quebec);

b)     ceases to be a member in good standing of a real estate board; or

c)     is bankrupt, insolvent, or in receivership.

5.2 Where a party to this Contract has breached the Contract, the other party may end the Contract by notice in writing to the party in breach;

5.3 The Buyer’s Agent may enforce clause 6.5 even if the Contract has ended or expired.

6.     Brokerage Compensation

6.1 The Commission to the Buyer’s Agent will be 3.5% of the purchase price negotiated on the sale of the real estate.

6.2

a)      The Buyer's Agent is to be paid the portion of the Commission offered by the Seller's Agent to brokerages representing a Buyer.

b)      If the Buyer's Agent receives payment from the Seller's Agent, then the payment will be credited towards the Buyer's obligation.

c)      If the amount in clause 6.2(a) is less then the Commission agreed to in clause 6.1, the Buyer will pay the balance of the Commission owing to the Buyer's Agent.

6.3 The Buyer will pay to the Buyer's Agent a Retainer of NIL Dollars.

6.4 The Buyer's Agent will be entitled to receive the Commission and the Buyer will be obligated to pay it, if:

     a)  during the term of this contract:

i.                    the Buyer enters into a Real Estate Purchase Contract with a Seller for the purchase of a specific property;

ii.                   the obligations of the parties are (have become) unconditional; and

iii.                 at the closing date the Seller is willing and able to complete the transaction; or

b)     within 90 days after this Contract has ended, the Buyer enters into a Real Estate Purchase Contract for the purchase of a specific property and during the term of this Contract the specific property was introduced to the Buyer by the Buyer's Agent or through the efforts of the Buyer's Agent.

6.5        Clause 6.4(b) will not apply if after this Contract has ended the Buyer has signed an Agency Contract with a new brokerage and the Buyer is obligated to pay a commission to the new brokerage as a result of the purchase of a specific property.

6.6        The remuneration earned by the Buyer's Agent shall be payable upon completion of the transaction. If there is further Commission payable to the Buyer's Agent, the Buyer will pay the additional amount upon completion of the transaction, in the event the Buyer refuses to complete the transaction, the Commission is due and payable within seven (7) days of demand by the Buyer’s Agent.

7.     Agency Disclosure Acknowledgement

7.1        A real estate brokerage (including its broker, associate brokers and agents) works within a legal relationship is between you, the client, and the brokerage, the Buyer's Agent. Buyer's Agents are obligated to protect and promote the interests of their clients as they would their own interests. Specifically, Buyer's Agents have duties of undivided loyalty, obedience, confidentiality, reasonable care and skill, full disclosure, and full accounting to their clients.

7.2        Both the Buyer and the Seller may be represented by different brokerages in a real estate transaction, and are referred to as Buyer's Agent and the Seller's Agent. Each of these agents owes its client the full fiduciary duties listed above.

7.3        Dual Agency occurs when a brokerage (including its broker, all associate brokers and agents carrying on business from the same or different locations) represents both the Buyer and the Seller in the same transaction. Since the same brokerage is working for both parties, it is necessary to limit the fiduciary duties owed to both clients. When representing both the Buyer and the Seller as a Dual Agent, the Dual Agent:

a)     will have no duty of confidentiality to either the Buyer or the Seller;

b)     will not, without prior written permission of the applicable client, disclose to the other client:

i.                    that the Seller will accept a price less than the asking price (or a countered selling price),

ii.                   that the buyer will pay a price higher than the price offered, and

iii.                 the reason the Buyer is buying and the Seller is selling;

c)     will disclose to the Buyer and Seller all facts known to the Dual Agent that materially affect the marketability or value of the specific property.

7.4        These limitations on the fiduciary duties will apply between buyers when a brokerage represents two or more buyers. When representing multiple buyers, the Dual Agent will at all time keep confidential the terms and conditions of competing offers.

7.5        Before representing a prospective seller, the Buyer's Agent will communicate the terms of this Disclosure to the Seller and shall obtain a written acknowledgement from the Seller.

8.     Additional Terms

8.1        Defined terms:

a)      "Commission" is the real estate commission payable by the Buyer in this real estate transaction. 

b)     "Purchase" includes any sale, agreement for sale, exchange or trade of property with an option to purchase.

c)     "Purchase Price" means the total consideration to be paid by the Buyer either at the closing date or at some future described time.

d)     "Real Estate Purchase Contract" (the contract) means the written agreement that describes a purchase between a buyer and a seller landlord of a property.

e)     "Retainer" is the sum advanced by the Buyer to the Brokerage to secure its services.

8.2        All changes of number will be made where required.

8.3        The interpretation and enforcement of this Contract will be governed by the laws of the Province of Quebec.

8.4        The amount of the Commission is not fixed by law.

8.5        This contract may be signed by the parties and transmitted by fax. This procedure will be as effective as if the parties had signed and delivered an original copy.

8.6        The Buyer warrants that prior to completion, he/she is NOT an "ineligible person" or "foreign controlled corporation: and is eligible to purchase "controlled land" as those terms are defined in The Foreign Ownership of Land Regulations.

9.     Disclaimer

9.1        The Buyer acknowledges that the Buyer's Agent is being retained as a real estate broker, not as a lawyer, tax advisor, lender, appraiser, surveyor, structural engineer, home inspector, or other professional service provider.

9.2        The Buyer acknowledges that he/she has been advised to seek professional advice concerning the condition of any specific property that the Buyer might be introduced to and with respect to any legal and tax matters regarding the entering into this Contract.