Redfin MN Listing Agreement (2020)

Listing Paperwork (2020) How You Save with Redfin Page 2 Agency Disclosure Page 3-4 Listing Agreement (1.5%) Page 5-11 Wire Fraud Alert Page 12 Redfin Addendum (1% when you Sell and Buy) Page 13-16 Affiliated Business Disclosure Page 17 Marketing Calendar Page 18 Pre-Listing Inspection Page 19 Well Testing and/or Sealing Page 20 Septic Testing and Compliance Page 21 Pre-Marketing and “Coming Soon” Page 22 Withhold From MLS Page 23 Coming Soon Authorization Page 24 Radon and Real Estate Page 25-26 Lead Based Paint Information Page 27-46 MN Residential Arbitration Guide Page 47-66

Redfin Minnesota 12800 Whitewater Drive #100 Minnetonka, MN 55343 (2020-Q1)

DocuSign Envelope ID: 12488E04-DB5D-48C9-A908-28EDDE48868B

Address:

123 Elm Street Anytown, MN 55555

List Price:

350000

How You Save with Redfin Many Minnesota Real Estate Brokers charge 5%, 6%, or even 7% of the home’s sale price as their Lisng Commission. Brokers may also charge an addional “Administrave Commission” that is hundreds of $$$’s more! In Minnesota, Redfin’s Lisng Commission is 4.25% (1.50% + 2.75%*) with NO addional fees or administrave commissions - saving you thousands! Selling a Home Let’s say you want to sell a $350,000 home. The Lisng Broker might charge a 6.00% commission. That’s $21,000! That is typically split 3.30% ($11,550) to the Lisng Broker and 2.70% ($9,450) to the Buyer Broker. At Redfin, our 4.25% commission is just $14,875 (Saving you $6,125)* Buying a Home Let’s say you purchase a new home for $350,000. As your Buyer Broker, Redfin might receive a commission of 2.70%* ($9,450). The typical Buyer Broker keeps all of that $9,450! Redfin gives you back a Redfin Refund!* At Redfin, you get money back! (We’ll refund $580 on a $350,000 sale)* *You may save .5% more if you Sell and Buy with Redfin. There is no refund for homes less than $250,000. Our Minimum Lisng Commission $3,000. Seller determines Buyer Broker Commission. Ask your agent for details!

Redfin Minnesota 12800 Whitewater Drive #100 Minnetonka, MN 55343 (2020-Q2)

DocuSign Envelope ID: 12488E04-DB5D-48C9-A908-28EDDE48868B

AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS

1. Page 1

2. MINNESOTA LAW REQUIRES that early in any relationship, real estate brokers or salespersons discuss with 3. consumers what type of agency representation or relationship they desire. (1) The available options are listed below.This 4. is not a contract. This is an agency disclosure form only. If you desire representation you must enter into a 5. written contract, according to state law (a listing contract or a buyer/tenant representation contract). Until such time 6. as you choose to enter into a written contract for representation, you will be treated as a customer and will not receive 7. any representation from the broker or salesperson. The broker or salesperson will be acting as a Facilitator (see 8. paragraph IV on page two (2)), unless the broker or salesperson is representing another party, as described below. 9. ACKNOWLEDGMENT: I/We acknowledge that I/we have been presented with the below-described options. 10. I/We understand that until I/we have signed a representation contract, I/we am/are not represented by the 11. broker/salesperson. I/We understand that written consent is required for a dual agency relationship.

THIS IS A DISCLOSURE ONLY, NOT A CONTRACT FOR REPRESENTATION.

12.

6/13/2020

6/13/2020

13.

(Signature)

(Date)

(Signature)

(Date)

14. I. Seller’s/Landlord’s Broker: A broker who lists a property, or a salesperson who is licensed to the listing broker, 15. represents the Seller/Landlord and acts on behalf of the Seller/Landlord. A Seller’s/Landlord’s broker owes to 16. the Seller/Landlord the fiduciary duties described on page two (2). (2) The broker must also disclose to the Buyer 17. material facts as defined in MN Statute 82.68, Subd. 3, of which the broker is aware that could adversely and 18. significantly affect the Buyer’s use or enjoyment of the property. (MN Statute 82.68, Subd. 3 does not apply to 19. rental/lease transactions.) If a broker or salesperson working with a Buyer/Tenant as a customer is representing the 20. Seller/Landlord, he or she must act in the Seller’s/Landlord’s best interest and must tell the Seller/Landlord any 21. information disclosed to him or her, except confidential information acquired in a facilitator relationship (see paragraph 22. IV on page two (2)). In that case, the Buyer/Tenant will not be represented and will not receive advice and counsel 23. from the broker or salesperson. 24. II. Buyer’s/Tenant’s Broker: A Buyer/Tenant may enter into an agreement for the broker or salesperson to represent 25. and act on behalf of the Buyer/Tenant.The broker may represent the Buyer/Tenant only, and not the Seller/Landlord, 26. even if he or she is being paid in whole or in part by the Seller/Landlord. A Buyer’s/Tenant’s broker owes to the 27. Buyer/Tenant the fiduciary duties described on page two (2). (2) The broker must disclose to the Buyer material facts 28. as defined in MN Statute 82.68, Subd. 3, of which the broker is aware that could adversely and significantly affect 29. the Buyer’s use or enjoyment of the property. (MN Statute 82.68, Subd. 3 does not apply to rental/lease transactions.) 30. If a broker or salesperson working with a Seller/Landlord as a customer is representing the Buyer/Tenant, he or 31. she must act in the Buyer’s/Tenant’s best interest and must tell the Buyer/Tenant any information disclosed to him 32. or her, except confidential information acquired in a facilitator relationship (see paragraph IV on page two (2)). In 33. that case, the Seller/Landlord will not be represented and will not receive advice and counsel from the broker or 34. salesperson. 35. III. Dual Agency - Broker Representing both Seller/Landlord and Buyer/Tenant: Dual agency occurs when one 36. broker or salesperson represents both parties to a transaction, or when two salespersons licensed to the same 37. broker each represent a party to the transaction. Dual agency requires the informed consent of all parties, and 38. means that the broker and salesperson owe the same duties to the Seller/Landlord and the Buyer/Tenant. This 39. role limits the level of representation the broker and salesperson can provide, and prohibits them from acting 40. exclusively for either party. In a dual agency, confidential information about price, terms and motivation for pursuing 41. a transaction will be kept confidential unless one party instructs the broker or salesperson in writing to disclose 42. specific information about him or her. Other information will be shared. Dual agents may not advocate for one party 43. to the detriment of the other. (3) 44. Within the limitations described above, dual agents owe to both Seller/Landlord and Buyer/Tenant the fiduciary 45. duties described below. (2) Dual agents must disclose to Buyers material facts as defined in MN Statute 82.68, Subd. 46. 3, of which the broker is aware that could adversely and significantly affect the Buyer’s use or enjoyment of the 47. property. (MN Statute 82.68, Subd. 3 does not apply to rental/lease transactions.)

MN:AGCYDICS-1 (8/19)

DocuSign Envelope ID: 12488E04-DB5D-48C9-A908-28EDDE48868B

AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS

48. Page 2

49. IV. Facilitator: A broker or salesperson who performs services for a Buyer/Tenant, a Seller/Landlord or both but 50. does not represent either in a fiduciary capacity as a Buyer’s/Tenant’s Broker, Seller’s/Landlord’s Broker or Dual 51. Agent. THE FACILITATORBROKEROR SALESPERSONDOES NOT OWE ANY PARTY ANYOFTHE FIDUCIARY 52. DUTIES LISTED BELOW, EXCEPT CONFIDENTIALITY, UNLESS THOSE DUTIES ARE INCLUDED IN A 53. WRITTEN FACILITATOR SERVICES AGREEMENT. The facilitator broker or salesperson owes the duty of 54. confidentiality to the party but owes no other duty to the party except those duties required by law or contained in 55. a written facilitator services agreement, if any. In the event a facilitator broker or salesperson working with a Buyer/ 56. Tenant shows a property listed by the facilitator broker or salesperson, then the facilitator broker or salesperson 57. must act as a Seller’s/Landlord’s Broker (see paragraph I on page one (1)). In the event a facilitator broker or 58. salesperson, working with a Seller/Landlord, accepts a showing of the property by a Buyer/Tenant being represented 59. by the facilitator broker or salesperson, then the facilitator broker or salesperson must act as a Buyer’s/Tenant’s 60. Broker (see paragraph II on page one (1)). 61. (1) This disclosure is required by law in any transaction involving property occupied or intended to be occupied by 62. one to four families as their residence. (2) The fiduciary duties mentioned above are listed below and have the following meanings: 64. Loyalty - broker/salesperson will act only in client(s)’ best interest. 65. Obedience - broker/salesperson will carry out all client(s)’ lawful instructions. 66. Disclosure - broker/salesperson will disclose to client(s) all material facts of which broker/salesperson has knowledge 67. which might reasonably affect the client(s)’ use and enjoyment of the property. 68. Confidentiality - broker/salesperson will keep client(s)’ confidences unless required by law to disclose specific 69. information (such as disclosure of material facts to Buyers). 70. Reasonable Care - broker/salesperson will use reasonable care in performing duties as an agent. 71. Accounting - broker/salesperson will account to client(s) for all client(s)’ money and property received as agent. 63. 72. (3) If Seller(s)/Landlord(s) elect(s) not to agree to a dual agency relationship, Seller(s)/Landlord(s) may give up the 73. opportunity to sell/lease the property to Buyer(s)/Tenant(s) represented by the broker/salesperson. If Buyer(s)/ 74. Tenant(s) elect(s) not to agree to a dual agency relationship, Buyer(s)/Tenant(s) may give up the opportunity to 75. purchase/lease properties listed by the broker.

76. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender 77. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be 78. obtained by contacting the local law enforcement offices in the community where the property is located, 79. or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of CorrectionsWeb site at 80. www.corr.state.mn.us.

MN:AGCYDISC-2 (8/19)

DocuSign Envelope ID: 12488E04-DB5D-48C9-A908-28EDDE48868B

LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

This form approved by the Minnesota Association of REALTORS ® , which disclaims any liability arising out of use or misuse of this form. © 2019 Minnesota Association of REALTORS ® , Edina, MN

6/13/2020

1. Date

11

2. Page 1 of

pages

3.

DEFINITIONS: This Contract involves the property located at

,

123 Elm Street Anytown, MN 55555

4.

City of

,

5.

County of

, State of Minnesota, Zip Code

,

6.

legally described as

(“Property”).

Primary Seller

Secondary Seller

7.

Seller is

(“Seller”).

Redfin Corporation

8.

Broker is

(“Broker”).

(Real Estate Company Name)

6/13/2020

9.

This Contract star ts on

, and ends at 11:59 p.m. on

December

31st 2020

10.

.This Contract terminates upon successful closing of the Property(ies) specified

11. in this Contract or expiration or cancellation of this Contract, whichever occurs first.

12. This Contract may only be canceled by written mutual agreement of the parties.

350000

13.

PRICE: Seller offers the Property for sale for the price of $

, upon the following

Cash or New Financing

14. terms:

.

15. LISTING: Seller gives Broker the exclusive right to sell the Property. In exchange, Broker agrees to list and market 16. the Property for sale. Broker may place a “For Sale” sign and a lock box with keys on the Property, unless prohibited by 17. governing authority. Seller understands this Contract DOES NOT give Broker authority to rent or manage the Property. 18. Seller understands Broker may be a member of a Multiple Listing Service (“MLS”), and if Broker is a member of the MLS, 19. and where available, Broker may give information to the MLS concerning the Property. Broker may place information 20. on the Internet concerning the Property, including sold information (except as limited in the following MLS Data Feed 21. Options section). Upon final acceptance of a purchase agreement, Seller allows Broker to withdraw the Property from 22. the market. If Broker sells the Property, Broker may notify the MLS and member REALTORS® of the price and terms 23. of the sale. Seller acknowledges that neither Broker, the MLS, the Minnesota Association of REALTORS®, nor any 24. other broker is insuring Seller or occupant against theft, loss, or vandalism.

25.

MLS DATA FEED OPTIONS:

26. EXPLANATIONS AND DEFINITIONS:

27. “IDX site” means a web site operated by a broker participating in the MLS on which the broker can advertise the 28. listings of other brokers in MLS, subject to certain MLS rules. The consumer visiting an IDX site is not required to 29. register on the site or to have a brokerage relationship with the broker displaying listings on the site. 30. “Virtual office web site” (“VOW”) means a web site operated by a broker participating in the MLS that delivers 31. brokerage services to consumers over the world wide web. Visitors to a VOW are required to register on the site (with 32. their name and a real e-mail address) and enter a brokerage relationship with the broker operating the VOW. The 33. broker operating the VOW can then show the visiting customer/client nearly all of the information available to the broker 34. in MLS. The seller(s) of a listing has the right to opt out of certain kinds of data display under the MLS’s VOW policy. 35. The MLS imposes various other rules and restrictions on VOWs. 36. For each of the following options, the MLS system automatically defaults to “Yes.” Seller’s instructions pertaining to the 37. Internet display of the MLS input data for the Property are as follows:

MN:LC:ERS-1 (8/19)

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LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

38. Page 2

123 Elm Street Anytown, MN 55555

39. Property located at

.

40. Option 1. Listing display on the Internet. If Seller selects “No,” this listing will not be included in MLS data feeds 41. to Internet web sites that display property listing data, whether intended for advertising the Property or 42. providing online brokerage services (e.g., VOWs). Brokers participating in MLS can still disclose the listing 43. to customers/clients via other means, including e-mail, fax, mail, hand delivery, and orally.

8

44.

Shall the Property listing be displayed on the Internet, including sold information?

Yes

No

45. 46. 47.

Seller understands and acknowledges that if Seller has selected “No” for Option 1, consumers who conduct searches for listings on the Internet will not see information about the Property in response to

their searches.

48. If “No” was selected at Option 1, skip Options 2-4. If “Yes” was selected for Option 1, continue to Option 2.

49. Option 2. Listing address (house and unit numbers and street name) display on the Internet. If Seller selects 50. “No,” the address of the Property will be hidden on web sites receiving data feeds from MLS that result in 51. Internet listing display, whether intended for advertising the Property or providing online brokerage services 52. (e.g., VOWs). Brokers participating in MLS can still disclose the address to customers/clients via other 53. means, including e-mail, fax, mail, hand delivery, and orally.

54. 55.

Shall the listing address (house and unit numbers and street name) be displayed

8

on the Internet?

Yes

No

56. Option 3. An automated valuation of the Property listing or a link to an automated valuation of it may be 57. displayed adjacent to the listing. Some VOWs or IDX sites may provide an automated valuation model 58. (“AVM”) function/service. An AVM uses statistical calculations to estimate the value of a property based 59. upon data from public records, MLS, and other sources, and incorporating certain assumptions. The 60. accuracy of AVMs has sometimes been criticized because they do not take into consideration all relevant 61. factors in valuing a property. Seller, by selecting “No,” may prohibit display of an automated valuation of 62. his or her listing adjacent to the listing.

63.

Shall an automatic valuation of the Property listing or a link to an automated

8

64

valuation be displayed adjacent to the listing?

Yes

No

65. Option 4. Comments or reviews of the Property by persons other than the displaying broker may be displayed 66. with or attached as a link to the listing data of the Property. Some VOWs or IDX sites may provide 67. functionality that permits the customers/clients using the VOW or IDX site to enter comments or reviews 68. with the listing or by hyperlink to such comments or reviews. Note that the broker displaying the listing on 69. his or her VOW or IDX site may add commentary representing his or her professional judgment regarding 70. the listing’s value, etc.

71. 72.

Shall comments or reviews of the Property by persons other than the displaying broker be displayed with or attached as a link to the listing data of the Property?

8

Yes

No

8

73.

LISTED FOR LEASE: The Property

IS NOT currently listed for lease. If IS , the listing broker is

IS

----------- (Check one.)----------

Not Applicable

8

74.

. If IS NOT , Seller

MAY NOT list the Property for lease during the

MAY

----------- (Check one.)----------

75. terms of this Contract with another broker.

76. Nothing in this Contract shall prohibit Broker and Seller from entering into a listing agreement for the lease of this 77. Property upon terms acceptable to both parties.

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LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

78. Page 3

123 Elm Street Anytown, MN 55555

79. Property located at

.

80. SELLER’S OBLIGATION: Seller shall notify Broker of relevant information important to the sale of the Property. 81. Seller shall cooperate with Broker in selling the Property. Seller shall promptly inform Broker about all inquiries Seller 82. receives about the Property. Seller agrees to provide and pay for any inspections and reports required by any 83. governmental authority. Seller agrees to provide unit owners’ association documents, if required. Seller shall remain 84. responsible for security, maintenance, utilities, and insurance during the term of this Contract, and for safekeeping, 85. securing and/or concealing any valuable personal property. Seller shall surrender any abstract of title and a copy of any 86. owner’s title insurance policy for this Property, if in Seller’s possession or control, to buyer or buyer’s designated title 87. service provider. Seller shall take all actions necessary to convey marketable title by the date of closing as agreed to in 88. a purchase agreement. Seller shall sign all documents necessary to transfer to buyer marketable title to the Property. 89. Seller has the full legal right to sell the Property. 90. Access to the Property: To facilitate the showing and sale of the Property, Seller authorizes Broker to: 91. 1. access the Property; 92. 2. authorize other brokers and their salespersons, inspectors, appraisers, contractors, and other industry 93. professionals to access the Property at reasonable times and upon reasonable notice; and 94. 3. duplicate keys to facilitate convenient and efficient showings of the Property. 95. Authorizing access means giving Broker permission to allow the above-referenced persons to enter the Property, with 96. or without a licensed salesperson present, disclosing to the other person any security codes necessary to enter the 97. Property, and lending a key to the other person to enter the Property, directly or through a lockbox. Seller agrees to 98. commit no act which might tend to obstruct Broker’s performance here. If the Property is occupied by someone other 99. than Seller, Seller shall comply with Minnesota law and any applicable lease provisions of an existing lease and provide 100. tenant with proper notice in advance of any Property showing. Seller understands the prospective buyers and others 101. authorized to access the Property may record the Property by photograph, video, or other medium while accessing 102. the Property. 103. RECORDING ONTHE PROPERTY: Seller understands that MN Statute 626A.02 specifically prohibits the interception 104. of oral communications without the consent of at least one of the two parties to the communication. Seller should seek 105. appropriate legal advice regarding compliance with this statute if Seller intends to utilize technology that may intercept 106. oral communications between persons other than Seller. 107. SELLER CONTENT LICENSE: In the event Seller provides content, including, but not limited to, any photos or videos 108. of the Property (“Seller Content”) to Broker, Seller grants to Broker a nonexclusive, perpetual, world-wide, transferable, 109. royalty free license to sub-license (including through multiple tiers), reproduce, distribute, display, perform, and create 110. derivative works of the Seller Content. Seller represents and warrants that Seller has authority to provide Seller Content 111. and Seller Content does not violate any restrictions regarding use including any third-party intellectual property rights 112. or laws. Seller agrees to execute any further documents that are necessary to effect this license.

113. NOTICE: THE COMPENSATION FORTHE SALE, LEASE, RENTAL, OR MANAGEMENT OF REAL PROPERTY 114. SHALL BE DETERMINED BETWEEN EACH INDIVIDUAL BROKER AND THE BROKER’S CLIENT.

115. BROKER’S COMPENSATION:

0.00

116. Seller agrees to pay Broker a retainer fee of $ at the commencement of this 117. Contract, which fee should be kept by Broker whether or not Seller sells the Property. The retainer fee will apply toward 118. satisfaction of any obligation to compensate Broker.

1.50

119. Seller shall pay Broker, as Broker’s compensation,

percent (%) of the selling price or

3,000.00

120. $

, whichever is greater, if Seller sells or agrees to sell the Property during

121. the term of this Contract.

This contract may be cancelled at any time, by either party, via email or written notice.

122. Other:

123.

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LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

124. Page 4

123 Elm Street Anytown, MN 55555

125. Property located at

.

126. In addition, if before this Contract expires Broker presents a buyer who is willing and able to buy the Property at the 127. price and terms required in this Contract, but Seller refuses to sell, Seller shall still pay Broker the same compensation. 128. Seller agrees to pay Broker’s compensation whether Broker, Seller, or anyone sells the Property. Seller hereby permits 129. Broker to share part of Broker’s compensation with other real estate brokers, including brokers representing only the 130. buyer. Seller agrees to pay Broker’s compensation in full upon the happening of any of the following events: 131. 1. the closing of the sale; 132. 2. Seller’s refusal to close the sale; or 133. 3. Seller’s refusal to sell at the price and terms specified above.

180

134. If, within

days (not to exceed six (6) months) after the expiration of this Contract, Seller sells or agrees to sell

135. the Property to anyone who: 136. 1. during this Contract made inquiry of Seller about the Property and Seller did not tell Broker about the inquiry; 137. or 138. 2. during this Contract made an affirmative showing of interest in the Property by responding to an advertisement, 139. or by contacting Broker or the licensee involved, or was physically shown the Property by Broker and whose 140. name and address is on a written list Broker gives to Seller within 72 hours after the expiration of this Contract; 141. then Seller shall still pay Broker the compensation noted here, even if Seller sells the Property without Broker’s 142. assistance. Seller understands that Seller does not have to pay Broker’s compensation if Seller signs another valid 143. listing contract or facilitator services agreement for this Property after the expiration or cancellation of this Contract, 144. under which Seller is obligated to compensate another licensed real estate broker. 145. To secure the payment of Broker’s compensation, Seller hereby assigns to Broker the gross proceeds from the sale 146. of the Property in an amount equal to the compensation due to Broker under this Contract.

8

147. COMPENSATION DISCLOSURE: Broker

SHALL NOT offer compensation to cooperating brokers.

SHALL

--------------- (Check one.) ---------------

148. If SHALL , the compensation to cooperating brokers shall be as follows:

2.75

0.00

8

149. 150. 151. 152.

% of the gross sales price or $

, whichever is greater, to cooperating

brokers representing buyer.

1.75

0.00

8

% of the gross sales price or $

, whichever is greater, to cooperating

brokers assisting buyer.

Other: 8 If Buyer chooses to be unrepresented, the Seller agrees to pay an additional 1.00% of the gross sale price to Redfin Corporation.

153.

154.

155. CLOSING SERVICES:

156. NOTICE:

THE REAL ESTATE BROKER, LICENSEE REPRESENTING SELLER, OR REAL ESTATE CLOSING AGENT HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT EXPRESS OPINIONS REGARDINGTHE LEGAL EFFECT OFTHE CLOSING DOCUMENTS OR OFTHE CLOSING

157. 158. 159.

ITSELF.

160. After a purchase agreement for the Property is signed, arrangements must be made to close the transaction. Seller 161. understands that no one can require Seller to use a particular person in connection with a real estate closing and that 162. Seller may arrange for a qualified closing agent or Seller’s attorney to conduct the closing.

163. Seller’s choice for closing services: (Check one.)

8

164.

Seller directs Broker to arrange for a qualified closing agent to conduct the closing.

165.

Seller shall arrange for a qualified closing agent or Seller’s attorney to conduct the closing.

166.

(Seller’s Initials)

(Seller’s Initials)

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LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

167. Page 5

123 Elm Street Anytown, MN 55555

168. Property located at

.

169. ADDITIONAL COSTS: Seller acknowledges that Seller may be required to pay certain closing costs, which may 170. effectively reduce the proceeds from the sale. 171. Seller understands that mortgage financing services are usually paid for by buyer; however, certain insured government 172. loans may require Seller to pay a portion of the fees for the mortgage loan. Seller understands that Seller shall not be 173. required to pay the financing fees on any mortgage without giving Seller’s written consent. 174. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (“FIRPTA”): Section 1445 of the Internal Revenue Code 175. provides that a transferee (“Buyer”) of a United States real property interest must be notified in writing and must withhold 176. tax from the transferor (“Seller”) if the transferor (“Seller”) is a foreign person, provided there are no applicable exceptions 177. from FIRPTA withholding.

8

178. Seller represents and warrants that Seller

IS NOT a foreign person (i.e., a non-resident alien individual,

IS

----- (Check one.) ---- 179. foreign corporation, foreign partnership, foreign trust, or foreign estate) for purposes of income taxation. 180. Due to the complexity and potential risks of failing to comply with FIRPTA, Seller should seek appropriate legal and 181. tax advice regarding FIRPTA compliance, as Broker will be unable to confirmwhether Seller is a foreign person 182. or whether the withholding requirements of FIRPTA apply.

183. WARRANTY: There are warranty programs available for some properties which warrant the performance of certain 184. components of a property, which warranty programs Seller may wish to investigate prior to the sale of the Property.

185. AGENCY REPRESENTATION: If a buyer represented by Broker wishes to buy the Seller’s Property, a dual 186. agency will be created. This means that Broker will represent both the Seller and the buyer, and owe the same 187. duties to the buyer that Broker owes to the Seller.This conflict of interest will prohibit Broker from advocating exclusively 188. on the Seller’s behalf. Dual agency will limit the level of representation Broker can provide. If a dual agency should arise, 189. the Seller will need to agree that confidential information about price, terms, and motivation will still be kept 190. confidential unless the Seller instructs Broker in writing to disclose specific information about the Seller. All other 191. information will be shared. Broker cannot act as a dual agent unless both the Seller and the buyer agree to it. By 192. agreeing to a possible dual agency, the Seller will be giving up the right to exclusive representation in an in-house 193. transaction. However, if the Seller should decide not to agree to a possible dual agency, and the Seller wants Broker 194. to represent the Seller, the Seller may give up the opportunity to sell the Property to buyers represented by Broker. 195. Seller’s Instructions to Broker: 196. Having read and understood this information about dual agency, Seller now instructs Broker as follows: 197. Seller will agree to a dual agency representation and will consider offers made by buyers represented by 198. Broker. 199. Seller will not agree to a dual agency representation and will not consider offers made by buyers represented 200. by Broker. 8

Redfin Corporation

201. Real Estate Company Name:

202.

Seller:

203. By:

Seller:

(Licensee)

6/13/2020

6/13/2020

204.

Date:

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LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

205. Page 6

123 Elm Street Anytown, MN 55555

206. Property located at

.

207. OTHER POTENTIAL SELLERS: Seller understands that Broker may list other properties during the term of this 208. Contract. Seller consents to Broker representing or assisting such other potential sellers before, during, and after the 209. expiration of this Contract. 210. PREVIOUS AGENCY RELATIONSHIPS: Broker, or licensee representing Seller, may have had a previous agency 211. relationship with a potential buyer of Seller’s Property. Seller acknowledges that Seller’s Broker, or licensee representing 212. Seller, is legally required to keep information regarding the ultimate price and terms the buyer would accept and the 213. motivation for buying confidential, if known. 214. TERMINATION OF FIDUCIARY DUTIES: Broker’s fiduciary duties, except the duty of confidentiality, terminate upon the 215. successful closing of the Property(ies) specified in this Contract or expiration or cancellation of this Contract, whichever 216. occurs first. 217. INDEMNIFICATION: Broker will rely on the accuracy of the information Seller provides to Broker. Seller agrees 218. to indemnify and hold harmless Broker from and against any and all claims, liability, damage, or loss arising from any 219. misrepresentation, misstatement, omission of fact, or breach of a promise by Seller. Seller agrees to indemnify and hold 220. harmless Broker from any and all claims or liability related to damage or loss to the Property or its contents, or any 221. injury to persons in connection with the marketing of the Property. Indemnification by Seller shall not apply if the damage, 222. loss, or injury is the result of the gross negligence or willful misconduct of the Broker. 223. FAIR HOUSING NOTICE: Seller understands that Seller shall not refuse to sell or discriminate in the terms, conditions, 224. or privileges of sale, to any person due to his/her race, color, creed, religion, national origin, sex, marital status, status 225. with regard to public assistance, handicap (whether physical or mental), sexual orientation, or family status. Seller 226. understands further that local ordinances may include other protected classes. 227. ADDITIONAL NOTICES AND TERMS: As of this date Seller has not received notices from any municipality, 228. government agency, or unit owners’ association about the Property that Seller has not informed Broker about in writing. 229. Seller agrees to promptly inform Broker, in writing, of any notices of such type that Seller receives during the term of 230. this Contract. 231. This shall serve as Seller’s written notice granting Broker permission to obtain mortgage information (e.g., mortgage 232. balance, interest rate, payoff, and/or assumption figures) regarding any existing financing on the Property. A copy of 233. this document shall be as valid as the original. 234. ENTIRE AGREEMENT: This Contract and any addenda or amendments signed by the parties shall constitute the 235. entire agreement between Seller and Broker. Any other written or oral communication between Seller and Broker, 236. including, but not limited to, e-mails, text messages, or other electronic communications are not part of this Contract. 237. This Contract can be modified or canceled only in writing signed by Seller and Broker or by operation of law. All monetary 238. sums are deemed to be United States currency for purposes of this Contract.

239. ELECTRONIC SIGNATURES: The parties agree the electronic signature of any party on any document related to this 240. transaction constitute valid, binding signatures.

241. CONSENT FOR COMMUNICATION: Seller authorizes Broker and its representatives to contact Seller by mail, phone, 242. fax, e-mail, or other means of communication during the term of this Contract and anytime thereafter.

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LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL

243. Page 7

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244. Property located at

.

245. OTHER :

246.

247.

248.

249. BROKER

SELLER

Redfin Corporation

250. ACCEPTED BY:

ACCEPTED BY:

(Real Estate Company Name)

(Seller’s Signature)

Primary Seller

251. By:

(Licensee’s Signature)

(Seller’s Printed Name)

Chris Prescott

6/13/2020

252.

(Licensee’s Printed Name)

(Date)

6/13/2020

253.

(Date)

(Address)

12800 Whitewater Drive #100

254.

(Address)

(City/State/Zip)

612-555-1212

Minnetonka

MN 55343

255.

(City/State/Zip)

(Phone)

PrimarySeller@PrescottGroup.us

612-999-2909

256.

(Phone)

(E-Mail Address)

chris.prescott@redfin.com

257.

(E-Mail Address)

258.

SELLER

259.

ACCEPTED BY:

(Seller’s Signature)

Secondary Seller

260.

(Seller’s Printed Name)

6/13/2020

261.

(Date)

262.

(Address)

263.

(City/State/Zip)

612-555-1212

264.

(Phone)

SecondarySeller@PrescottGroup.us

265.

(E-Mail Address)

266. 267.

THIS IS A LEGALLY BINDING CONTRACT BETWEEN SELLER AND BROKER. IFYOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

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WIRE FRAUD ALERT

Internet fraud — the use of Internet services or software with Internet access to defraud victims — is on the rise in real estate transactions. THESE SOPHISTICATED CRIMINALS COULD: • HACK INTOYOUR E-MAIL ACCOUNT or the e-mail of others involved in your real estate transaction and may direct you to wire money to the hacker’s account. • SEND FRAUDULENT E-MAILS that appear to be from your real estate licensee, lender, or closing agent. • CALLYOU claiming they have revised wiring instructions.

!

Buyers/Tenants and Sellers/Owners are advised to: (1) Never wire funds without confirming the wiring instructions directly with the intended recipient. (2) Verify that the contact information for the wire transfer recipient is legitimate by calling a known phone number for the broker or closing agent. Do not rely on the information given to you in an e-mail communication. (3) Never send personal information through unsecured/unencrypted e-mail.

If you suspect wire fraud in your transaction: (1) Immediately notify your bank, closing agent, and real estate licensee. (2) File a complaint online at the Internet Crime Complaint Center (IC3) at http://www.ic3.gov.

The undersigned acknowledge receipt of this wire fraud alert and understand the importance of taking proactive measures to avoid being a victim of wire fraud in a real estate transaction.

6/13/2020

6/13/2020

(Signature)

(Date)

(Signature)

(Date)

This form approved by the Minnesota Association of REALTORS ® , which disclaims any liability arising out of use or misuse of this form. © 2018 Minnesota Association of REALTORS ® , Edina, MN

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Addendum to Exclusive Right to Sell Listing Contract 1. Advertising: All advertising of your listing must comply with the Fair Housing Act (“FHA”) requirements, 42 U.S.C. 3600, et. seq., and any applicable state laws and regulations. As part of its services, Redfin will install and maintain a yard sign when appropriate, create a flyer for distribution and post the listing to the multiple listing service(s) (“MLS”) serving your neighborhood, and arrange for your listing to appear on prominent websites advertising residential properties for sale to promote your property. Redfin will arrange for professional photographs of your home, and may record video images and a 3D scan (collectively, “Images”) to be taken of your home and displayed publically, which will be the property of Redfin. You agree that Redfin may use these Images for any purpose, including, without limitation, distribution through the internet, print publications, merchandising, television, and all other forms of media. When using the Images, for the purpose of listing your Property or otherwise, Redfin may use location information of the Property including, without limitation, the property address, city, neighborhood and public information about the property. 2. Change Policy: Before we publish your listing on the MLS, and begin to advertise your home, we will confer with you and review the MLS posting, flyer, and other advertising. After your listing has been posted on the MLS, any changes, updates or modifications to your listing must be submitted to Redfin via email and will be effective within a reasonable time following receipt of the change. 3. Matters of Disclosure: You have the obligation to disclose certain matters to potential buyers. You are strongly encouraged to disclose all issues regarding your home that a reasonable buyer would want to know about, and to take the time to complete any disclosure documents to the best of your ability and knowledge, providing sufficient information for potential buyers to understand the issue(s) you disclose. 4. Lock box and Signs: Lock boxes and all signage provided to you by Redfin are the property of Redfin or the MLS and cannot be modified. It is your responsibility to maintain them in the condition they were in when they were installed on your property. Redfin will remove any lock boxes or signs when your listing is sold or at the conclusion of the Listing Agreement term. In the event of vandalism, please contact Redfin immediately. 5. Open Houses/Showings: Please be aware that theft, although uncommon, can take place during open houses or showings of your home. Please secure prescription drugs, jewelry, cash and other items that can easily be pocketed before open houses or showings.

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6. Fixtures and items included with the sale: Purchase and sale agreements often include provisions for the sale of items related to the home but not necessarily included, such as appliances, audio systems, window coverings and the like. Generally, appliances to be transferred with the property should be listed on the appropriate page of the agreement, and often are those present at the time of showing. Other items that typically remain in the home, unless the purchase and sale agreement specifies otherwise, are window coverings, things that are “attached” or custom‐built for the house, such as built in cabinets, or anything otherwise considered a “fixture.” Examples of items that should be specifically addressed if you intend to exclude them from sale include, but are not limited to, hot tubs, swing sets or children’s play sets, window seat cushions, unique light fixtures/chandeliers, built‐in audio and visual equipment, or any landscaping. 7. Unrepresented Buyer: In the event that an unrepresented buyer approaches you or a Redfin listing team member, it is Redfin practice to recommend that the unrepresented buyer use a Redfin Buyer’s Agent or other licensed broker. 8. Offers and/or Negotiations: You agree that all presentations of offers and all negotiations, whether in person, by telephone, email and/or any electronic means, will be conveyed through Redfin agents. You further agree that you will not engage in negotiations or the presentation of offers, whether in person, by telephone, email and/or any electronic means, except when a Redfin agent is also present via phone. In the event you do engage in the presentation of an offer and/or negotiations directly with a buyer and/or a buyer’s agent, then you waive all claims against Redfin related to or arising out of the subject transaction. 9. Redfin Commission and Additional Expenses: At closing, as its commission, Redfin will collect 1.50% of the final sale price or $ $3,000.00 , whichever is greater, plus 2.75% of the sale price, which will be paid to the buyer’s brokerage. As negotiated in the purchase contract or as provided by law in the case of an FHA or VA financed sale, as the seller, you may be responsible for payment of real estate excise tax and a portion of any escrow fees or other charges associated with the sale process. Traditionally, rent, taxes, interest, reserves, assumed encumbrances, homeowner fees and insurance are to be prorated between you and the buyer as of the date of closing. 10. Termination: Either party has the right to terminate this agreement at any time. Such notice of termination shall be provided in writing or via email. If you are terminating, Redfin shall deliver to the MLS, your written or emailed termination notice and the applicable MLS rescission documents. If Redfin is terminating, Redfin shall deliver to the MLS, written or email termination notice and the applicable MLS rescission documents once receipt of termination by you is confirmed, or if unconfirmed, after two business days. Termination of the listing shall be effective at the time of delivery to the MLS. However, a premature termination of the Listing Agreement does not preclude

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Redfin from collecting all of the commission and/or other expenses incurred in promoting the property to which it is entitled as a result of representing you in the transaction.

11. Choice of Law and Forum: This agreement and the relationship between you and Redfin will be governed by and construed in accordance with the laws and exclusive jurisdiction of the courts where our main branch office/managing broker is located within the state where the home is located. 12. Equal Housing Opportunity: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. 13. Listing Addendum Controls: Where a conflict exists between the terms of this Listing Addendum and the Listing Agreement, the terms in this Listing Addendum will control. Seller has read and approves this Listing Addendum and hereby acknowledges receipt of a copy

Redfin Corporation

Primary Seller

Signature

Signature

Chris Prescott

Primary Seller

Printed Name

Printed Name

6/13/2020

6/13/2020

Date Signed:

Date Signed:

Secondary Seller

Signature

Secondary Seller

Printed Name

6/13/2020

Date Signed:

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REDUCED LISTING FEE FOR SELLERS WHO BUY WITH REDFIN

1) Reduced Listing Fee for Sellers Who Buy With Redfin. Subject to Section 2 of this Addendum, if You purchase a new property with any Redfin agent (“New Home”) before or after closing on the sale of the Property, Redfin will either (i) reduce Your listing fee by 0.5% at Property closing or (ii) send You a check for 0.5% of the final sale price of the Property following the later of the New Home closing or the Property closing. 2) Eligibility Requirements and Limitations. a) You are only eligible to receive the reduced listing fee described above if You close (or have closed) on the New Home within 365 days of the Property closing. b) Redfin’s total earned commission related to the sale of the Property is still subject to the minimum listing fee specified in the listing contract (separate from any amounts paid to buyer’s brokerage). c) The reduced listing fee can only be applied once per property you sell with Redfin even if You purchase multiple New Homes.

d) The reduced listing fee is not available where prohibited by law.

e) Home purchases or sales with Redfin Partner Agents do not qualify toward the eligibility requirements for the reduced listing fee. f) If your New Home purchase closes after the Property closing, the reduced listing fee will add to the Property sale proceeds and may impact how You file Your taxes. Redfin recommends You speak with a tax professional if You have any questions. 3) Conflicts. Any term or provision of the listing contract and any addenda to the listing contract not affected by this Addendum shall remain in full force and effect following the date hereof. In the event of a conflict between the terms and conditions of the listing contract and any previous addenda, and this Addendum, the terms and conditions of this Addendum shall control.

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Affiliated Business Arrangement (AfBA) Disclosure

To : Customer or Potential Customer From : Redfin Corporation and its affiliates identified below Property : TBD

Redfin Corporation is a technology-powered residential real estate brokerage company that represents home buyers and sellers. This is to give you notice that Redfin Corporation owns one hundred percent (100%) of (i) RDFN Ventures, Inc. d/b/a RedfinNow which buys homes directly from homeowners and then resells them; and (ii) Forward Settlement Solutions, Inc. d/b/a Title Forward which provides title insurance, closing, and related services. In addition, Forward Settlement Solutions, Inc. owns one hundred percent (100%) of Forward Settlement Solutions of Texas, LLC d/b/a Title Forward which provides title insurance, closing, and related services. Because of these relationships, this referral may provide Redfin Corporation and/or its affiliates a financial or other benefit. Set forth below is the estimated charge or range of charges for the settlement services listed. You are NOT required to use Redfin Corporation, RedfinNow, or Title Forward as a condition for the purchase or sale of the subject property. Redfin Corporation, RedfinNow, and/or Title Forward services may not be available in the location of the subject property. RedfinNow is not a settlement service provider. There are frequently other settlement service providers available with similar services. You are free to shop around to determine that you are receiving the best services and the best rate for these services .

Provider and Settlement Service

Charge or Range of Charges

Redfin Corporation : Residential real estate brokerage services Title Forward : Title insurance for owner’s and/or lender’s coverage; settlement and closing services

Listing fees range between 1-3% of purchase price of the property, subject to market based minimums. Buyer’s agent commissions not included (which are typically paid by seller, and range between 2.5-3%).

TItle Insurance

Title insurance premiums for an owner’s policy typically range between $1.50 to $8.15 for each $1,000 of the purchase price of the property ($150 minimum fee), depending upon the total price of the property. Extended coverage, binders and endorsements are available at additional premiums. Title insurance premiums for a lender’s policy typically range between $0.75 to $8.15 for each $1,000 of the amount of the loan ($100 minimum fee), depending on the amount of the loan, and depending on whether the policy is issued at the same time as an owner’s policy. Endorsements which may be required by the lender are available at additional premiums. The borrower typically pays for all of the lender’s title insurance. An additional fee of up to $1,495 is charged for settlement and closing services related to title search and examination, document preparation, closing, signing, wire transfers, couriers, and other miscellaneous services. This fee does not cover deed preparation and other services that may be required but are paid directly to third parties such as land surveys, county document recording, lien release tracking, and property inspections.

Settlement and Closing Services

This is an affiliated business arrangement disclosure statement. Actual services and charges may vary according to the particular circumstances underlying the transaction, including the home value, coverage and limits chosen, whether you are the purchaser or seller, as well as other requested terms, unusual market conditions, government regulation, property location and similar factors. This disclosure statement does not account for fees paid or payable to third party service providers.

By checking this box, I/we agree to list Title Forward as the preferred title company for the sale of my/our property.

X

ACKNOWLEDGMENT

I/we have read this disclosure form, and understand that referring party is referring me/us to purchase the above-described settlement service(s) and may receive a financial or other benefit as the result of this referral.

Primary Seller

Secondary Seller

Signature

Signature

6/13/2020

6/13/2020

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