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Auctioneer Referrals
Auctions U.S.A. accepts referrals to interested sellers. Please read our contract below for details.
Auction Referral from a Referring Auctioneer to Auctions U.S.A. These will generally be real estate seller leads whereby the Referring Auctioneer believes the best way for the business to be captured is by referring it to AUSA. When a auction referral is accepted, the referral is given from a Referring Auctioneer to AUSA with no further involvement from the Referring Auctioneer, except as provided for herein. AUSA is not obligated to accept any referrals. Auction referrals are defined as referrals of qualified sellers who are not subject to existing listing agreements with any other parties, including real estate agents.
Referring Auctioneer agrees to the following Referral Fee Schedule:
Auction Referral Fee Schedule:
For events with a 5% Buyer's Premium: 2.0% of the Highest Bid of the Day (HB) of properties referred by the Referring Auctioneer, and sold at auction by AUSA, exclusive of buyer closing costs, prepaids and buyer premiums paid to AUSA, will be paid to the Referring Auctioneer within 3 business days of closing (excluding weekends) on the sale of the property represented by AUSA.
For events with a 4% Buyer's Premium: 1.5% of the Highest Bid of the Day (HB) of properties referred by the Referring Auctioneer, and sold at auction by AUSA, exclusive of buyer closing costs, prepaids and buyer premiums paid to AUSA, will be paid to the Referring Auctioneer within 3 business days of closing (excluding weekends) on the sale of the property represented by AUSA.
For events with a 3% Buyer's Premium: 1.0% of the Highest Bid of the Day (HB) of properties referred by the Referring Auctioneer, and sold at auction by AUSA, exclusive of buyer closing costs, prepaids and buyer premiums paid to AUSA, will be paid to the Referring Auctioneer within 3 business days of closing (excluding weekends) on the sale of the property represented by AUSA.
Auctions U.S.A. requires that all buyers entering into escrow for the purchase of a particular property, offered through its auction events, execute a Purchase Contract. Said Purchase Contract obligates the buyer to compensate Auctions U.S.A. in the amount equal to the original buyer's premium related to a particular property.
In the event that the auction sale is not consummated, but later such particular property is subsequently purchased by that buyer, by any means, during the 180 day period beginning on the original auction date (the "Protection Window"), and Auctions U.S.A. is made aware of such subsequent sale, and is able to successfully collect such buyer's premium, Auctions U.S.A. will make payment to the Referring Auctioneer according to the aforementioned fee schedule. In no event will Auctions U.S.A. be required to monitor or otherwise investigate such subsequent sales absent notification by the Referring Auctioneer. If the Referring Auctioneer provides Auctions U.S.A. information that such a sale has occurred, Auctions U.S.A. will use its best efforts to determine if payment of the buyer's premium is reasonably collectable. In no event will Auctions U.S.A. be obligated to make payment to a Referring Auctioneer when it has not collected a buyer's premium in full, less any legal fees to pursue such collection.
Referring Auctioneer agrees to the following duties and responsibilities:
To not offer the same referral to AUSA and other auction company(s) once this Agreement is executed with respect to a particular referral.
To not quote or estimate fees, premiums, commissions, advertising costs, marketing timelines, or any other contractual matters of AUSA to a prospective seller.
To comply with all local, state and federal laws, codes and regulations.
Term: This Agreement shall be in effect until the later of (a) the referred property is successfully sold at auction (and subsequently closed); (b) the referred property is released from the AUSA auction inventory and related binding agreements; and (c) the expiration of the Protection Window.
Governing Law: This Agreement shall be construed in accordance with the laws of the State having legal jurisdiction (where the property is located).
Limitation of Liability: Under no circumstances shall either party to this Agreement be liable for any indirect, consequential, punitive, or special damages, regardless of the cause of action or legal theory.
Acceptance Procedures: All referrals require a fully-executed Auction Referral Agreement, including an Addendum identifying the specific property and referral amounts. Upon acceptance of a referred property into an auction event, AUSA will indicate its acceptance by executing the Auction Referral Agreement and Addendum, and faxing it to the Referring Auctioneer, who shall execute the Auction Referral Agreement and Addendum for their part and fax back to Auctions U.S.A. at the Fax number below.
Notice Address: All notices intended for Auctions U.S.A. shall be sent to the following address:
Auctions U.S.A.
79-735 Oxford Drive
Suite #100
Indio, CA 92203
Office: 760-200-9405
Fax: 760- 200-9183
E-mail: info@bidauctionsusa.com
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