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Power To Contract Sale-Reservation To Withdraw
POWER TO CONTRACT PROPERTY SALE - RESERVATION TO WITHDRAW
The principal grants the agent specific authority to negotiate, execute, and deliver a contract of sale for property to any purchaser found by the agent within [Number of months] months from date of this notice, and is subject to the following terms and conditions:
No price will be accepted if it is less than $ [Minimum acceptable price]. Any payment must be made by: [description the terms and conditions of payment];
The property is to be transferred by principal to purchaser according to the specified terms, and after the completion and acceptance of the contract with a good and sufficient [warranty or as the case may be] deed;
The principal agrees to provide, to any potential purchaser, within [Grace period] days after a deposit by the potential purchaser of ($[Amount of deposit]) is made with principal or with agent for principals account, [a complete title or a policy of title insurance covering title] to the property;
If the agent completes the sale of the property according to this agreement within [Period to close the sale] months from the date of this notice, the principal agrees to pay the agent a commission of ([Percent of the purchase price to be paid as commission]%) of the purchase price;
The principal has the right to withdraw the property [Days to notify agent of cancellation] days from the date of this notice by giving notice of such withdrawal to the agent in writing, provided that the sale of the property is not pending at the time of the.
Signature