Prescott Valley Arizona Real Estate Home Buyers Center.

Prescott AZ Real Estate Home Listing Contract

January 15th, 2008

• The type of listing contract declares if the listing is an open listing, exclusive-right-to-sell, or an exclusive-agency listing. The broker also receives the authority to act on the seller’s behalf with this clause
• Broker and seller names and signatures, including anyone with an ownership interest in the property
• The date on which the contract has been signed
• The time period (lenght) of which the listing is to be running
• The listing price of the property which is ultimately determined by the seller. A broker will often assist the seller in getting a idea of the listing price of the property by performing a competitive market analysis, which is a review of recent sales of homes or similar properties in the local area.
• The amount of the broker’s commission, how it will be determined and when it is to be paid
• A legal description of the property, often the address is sufficient
• A statement of discrimination stating that all marketing performed for the property must be in compliance with all federal, state of Arizona and local area fair housing laws.
• Antitrust practices which prevent the commission structure to be set up by any broker or government organization or institution
• A provision regarding how earnest money deposits will be handled in the case of default on the part of the buyer or the seller
• A list identifying any personal property or fixtures that will be left with the real estate
• Authorization on the part of the seller to allow for the broker to market the property with signage, advertisements and other forms of marketing
• Authorization by the seller to allow the property to be listed in the MLS (multiple listing system)
• The estimated date the buyer of the property will take possession of the premises
• If there will be any homeowner warranty program for the home to be included by the seller, it needs to be listed here
• The circumstances in which the contract can be terminated
• A carryover provision for the broker that establishes the terms for payment of a commission after the listing has expired

Entry Filed under: Buying a Home in Prescott, Prescott Arizona AZ Real Estate Market, homes in prescott