Buying/Cooperating Agent Agreement

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Terms of Use Apply

Buyer(s) and Buyer(s)’ Agent agree:

- You have read, understood, and clicked “Agree” to the Terms of Use, thereby assenting to the terms therein.  
- The Terms of Use are incorporated herein by reference. 
- The Terms of Use contain important clauses that impact your legal rights, including but not limited to:  an arbitration agreement, a class action waiver, a class arbitration waiver, a choice of law provision, and various warranty disclaimers and limitations of liability and releases, as well as indemnification responsibilities.

Basic Licensing and MLS as to the Real Estate Agent

Buyer(s)’ Agent Represents and Warrants That they:

1. Are above the age of eighteen (18);
2. Have legal capacity to enter into legally binding contracts;
3. Are a duly authorized licensed real estate broker and in good standing with all applicable regulatory bodies of the state in which the Property is listed;
4. Are a member, subscriber, or participant (or similarly defined term) in good standing (e.g., not currently suspended, disallowed, and/or under current disciplinary action) with the local MLS in the geographical service area in which the Property is located;
5. Have a working knowledge and understanding of the By-Laws, Membership Restrictions, and Rules and Regulations applicable to the local MLS on which the Property will be listed and/or uploaded.

As to the Agent and the Buyer(s)

Buyer(s) and Buyer(s)’ Agent Represent and Warrant That:

- You have a valid and legally enforceable exclusive real estate agent buying agreement (or similarly termed document) with Buyer(s) and have uploaded a copy of the same to Doorsey for Doorsey’s records, and that such real estate agent buying agreement (or similarly termed document) is not violative of, and is compliant with, any and all local, state, or federal regulations, restrictions, codes, or laws that apply to such agreements;
- You and your client(s) understand and agree that the Seller(s) and Selling Agent have designated Doorsey as the platform through which they want to receive pricing bids on the Property; 
- You understand and agree to only transmit bids on behalf of your client(s) through the Doorsey platform; 
- You desire to use Doorsey’s services on behalf of Your client(s) to transmit pricing bids on real property 
- The Buyer expressly consents to using Doorsey’s online, open platform for the transmission of pricing bids on properties, which are automatically viewable and shared with all other registered users and unregistered viewers;
- You will not encourage or cause Seller(s) or Selling Agent to remove the property from Doorsey prior to the close of the exclusive sales period.

Your Understanding of Doorsey’s Services.

Buyer(s) and Buyer(s)’ Agent Agree and Understand That:
- Doorsey is not an auctioneer, nor is Doorsey hosting, facilitating, or running any type of auction;
-The Buyer(s) and Buyer(s)’s Agent expressly understand - as set forth in the Terms and Conditions of and elsewhere - that Doorsey’s Platform is an open forum for the public aggregation of price bids related to the prospective purchase and sale of the subject Property.  The Buyer(s) expressly understand and acknowledge that any and all pricing bids made on Doorsey will be immediately viewable - and thus shared - with any and all other prospective purchasers.  Your use of Doorsey’s services constitutes acceptance and acknowledgment of this, and all other, Terms.
- Doorsey does not remove any agency of the Seller(s) - that is, the Seller(s) can decide whether to sell or not sell, subject to the Terms of Use and these Representations and Warranties.  
- The making and receipt of bids as to the proposed price for sale by prospective purchasers do not constitute legal and enforceable contracts.  Outside of Doorsey’s Platform, the agents and parties must still prepare a written offer (which is not shared with other parties, since that is handled outside of Doorsey) and a traditional Purchase and Sale Agreement after the close of Doorsey’s services to create an enforceable contract for the purchase and sale of residential real estate.  Please consult with your real estate advisor, financial advisor, or lawyer to determine what elements are required to be in writing in your jurisdiction in order to create a legally enforceable contract.
-Buyer(s) and Buyer(s)’s agent agree to engage in ongoing communication with one another regarding our services as well as any bids on the platform. 
- You understand that Doorsey does not offer legal, tax, real estate, or financial advice and does not prepare:     
   - Memoranda of Sale     
    - Letters of Intent     
    - Purchase and sale agreements;     
   - Deeds;     
   - Excise tax affidavits;      
    - Deeds of trust;     
    - Mortgages;      
    - Promissory notes; or     
    - Any other legal instrument of finance or property transfer.
- The parties are responsible for the payment of any and all sales and use taxes and that Doorsey and/or Doorsey’s agents are authorized to collect said sales and use taxes at any point in time, including at any point in time after the transaction is closed.

Regarding the Pre-listing Inspection and Inspection Report:

Buyer(s) and Buyer(s)’ Agent Agree and Understand That:

- Doorsey encourages the Seller to enlist the services of a Third Party Inspector to assist the parties in their due diligence. 
- Doorsey makes no warranties or representations with regard to the Third Party Inspector or the Third Party Inspection Report.  
- Buyer(s) and Buying Agent rely on the Third Party Inspector and the Third Party Inspection Report at their own risk.  Note:  Doorsey’s liability is limited by virtue of the liability limitations contained in the Terms and Conditions.
- It is your obligation to follow up on any questions you have about the party directly with the Seller(s) or Selling Agent. 

Your Obligations After the Sales Period.

Buyer(s) and Buyer(s)’ Agent Agree and Understand That:

- Doorsey’s responsibilities and legal obligations do not extend beyond the sales period.  
- Once the Seller(s) has received a bid as to the price that they believe may or may not be acceptable to the Seller(s), it is up to the parties and their respective agents or Agents to memorialize and initiate the appropriate buy-sell contracts that facilitate the real property transaction.       
- For the avoidance of doubt, it is your responsibility to use all reasonable efforts to enter into an Agreement to Purchase and Sell Real Estate and to properly communicate with Seller(s) or Seller(s)’ Agent, as applicable.
- You agree to provide confirmation of:     
Execution of the Purchase and Sale Agreement;          
Identification of the Purchaser; and     
Final Terms, including Closing Date.
- You agree to provide confirmation whether the sale of the Property successfully closed and the date on which it closed.
- You agree to provide a copy of all documents pertinent to the sale to Doorsey upon demand and within 24 hours of such demand.

Legal Disputes and Indemnification.

Buyer(s) and Buyer(s)’ Agent Agree and Understand That:

- Buyer(s) and Buying Agent will indemnify and hold harmless Doorsey for any and all claims brought by Seller(s) or their agents that arise as a result of either the Buyer(s) or Buyer(s)’ Agent’s conduct, including but not limited to those for breach of contract, damages, specific performance, equitable relief, and the like.
- Doorsey will not be party to any disputes between Buying Agent and Buyer(s) with regard to the (actual or failed) purchase and sale of the Property. Buying Agent, in this regard, agrees to hold harmless and indemnify Doorsey for any claims brought by Buyer(s) in relation to Buying Agent’s services or lack thereof, whether intentional, reckless, or negligent, with regard to the purchase and sale of residential real estate.  
- Violations by any of these provisions may result in legal action, including for damages or injunction, as necessary.   
- You understand that the legal dispute terms found in the Terms of Use (including but not limited to: choice of law, venue, arbitration agreement, class action and collective action waiver, severance provision, and the like) govern our entire relationship and any legal disputes arising therefrom.