13. HOME WARRANTY PROTECTION: The seller of any property Buyer may be interested in buying may or may not provide a home warranty contract as a part of any sale. If the seller does not provide a home warranty contract, Buyer may elect to purchase one. The Firm recommends that Buyer obtain a home warranty contract at Closing. The Firm carries out and is compensated for marketing services for HMS National, Inc., a nationally recognized home warranty provider. A Buyer or Seller may purchase a plan. The cost of the plan is payable at closing and is required only when there is a closing. Buyers may request that Seller purchase the plan for them. Buyer should discuss home warranty protection with the Individual Buyer Agent and inform them prior to making any offer to purchase property of their desire to request that the seller provide a home warranty contract at Closing or to arrange for the purchase of a home warranty contract by Buyer at Closing. 14. CONFIDENTIALITY OF OFFERS : Real estate brokers are prohibited by N.C. Real Estate Commission rule from disclosing the price or other material terms contained in a party’s offer to purchase, sell, lease, rent or option real property to a competing party without the express authority of the party making the offer. However, sellers may elect not to treat the existence, terms, or conditions of any offers Buyer may make as confidential. 15. ADDITIONAL PROVISIONS : _____________________________________________________________________________ ___________________________________________________________________________________________________________. 16. DUAL AGENCY: Buyer has received a copy of the “Working with Real Estate Agents” brochure and has reviewed it with Firm. Buyer understands that the potential for dual agency will arise if Buyer becomes interested in viewing property listed with Firm. Firm may represent more than one party in the same transaction only with the knowledge and informed consent of all parties for whom Firm acts. Coldwell Banker Howard Perry and Walston practices Dual Agency whenever necessary and Designated Agency as a form of Dual Agency whenever possible. (a) Dual Agency Authorization: Buyer authorizes the Firm to act as a dual agent, representing both the Buyer and the seller, subject to the terms and conditions set forth in this paragraph below. (b) Disclosure of Information. In the event Firm serves as a dual agent, Buyer agrees that without permission from the party about whom the information pertains, Firm shall not disclose to the other party the following information: (1) that a party may agree to a price, terms, or any conditions of sale other than those offered; (2) the motivation of a party for engaging in the transaction, unless disclosure is otherwise required by statute or rule; and (3) any information about a party which that party has identified as confidential unless disclosure is otherwise required by statute or rule. (c) Firm’s Role as Dual Agent . If Firm serves as agent for both Buyer and a seller in a transaction, Firm shall make every reasonable effort to represent Buyer and seller in a balanced and fair manner. Firm shall also make every reasonable effort to encourage and effect communication and negotiation between Buyer and seller. Buyer understands and acknowledges that: (1) Prior to the time dual agency occurs, Firm will act as Buyer’s exclusive agent; (2) In its separate representation of Buyer and seller, Firm may obtain information which, if disclosed, could harm the bargaining position of the party providing such information to Firm; (3) Firm is required by law to disclose to Buyer and seller any known or reasonably ascertainable material facts. Buyer agrees Firm shall not be liable to Buyer for (i) disclosing material facts required by law to be disclosed, and (ii) refusing or failing to disclose other information the law does not require to be disclosed which could harm or compromise one party's bargaining position but could benefit the other party.(d) Buyer’s Role. Should Firm become a dual agent, Buyer understands and acknowledges that: (1) Buyer has the responsibility of making Buyer’s own decisions as to what terms are to be included in any purchase and sale agreement with a seller client of Firm; (2) Buyer is fully aware of and understands the implications and consequences of Firm‘s dual agency role as expressed herein to provide balanced and fair representation of Buyer and seller and to encourage and effect communication between them rather than as an advocate or exclusive agent or representative; (3) Buyer has determined that the benefits of dual agency outweigh any disadvantages or adverse consequences; (4) Buyer may seek independent legal counsel to assist Buyer with the negotiation and preparation of a purchase and sale agreement or with any matter relating to the transaction which is the subject matter of a purchase and sale agreement. Should Firm become a dual agent, Buyer waives all claims, damages, losses, expenses or liabilities, other than violations of the North Carolina Real Estate License Law and intentional wrongful acts, arising from Firm's role as a dual agent. Buyer shall have a duty to protect Buyer’s own interests and should read any purchase and sale agreement carefully to ensure that it accurately sets forth the terms which Buyer wants included in said agreement. (d) Designated Agency Authorization: Buyer hereby authorizes the Firm to designate an agent(s) to represent the Buyer (usually the Individual Agent), to the exclusion of any other agents associated with the Firm. The agent(s) shall not be so designated and shall not undertake to represent only the interests of the Buyer if the agent(s) has actually received confidential information concerning a seller client of the Firm in connection with the transaction. The designated agent(s) shall represent only the interests of the Buyer to the extent permitted by law.
Page 4 of 6 Individual agent initials _______ Buyer initials _______ _______
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