[Note: The following is a sample Authority to Sell with Exclusive Right to Sell. However, please consult with a legal professional to ensure compliance with current laws and regulations, as well as to customize the document to specific circumstances.]
AUTHORITY TO SELL WITH EXCLUSIVE RIGHT TO SELL
KNOW ALL MEN BY THESE PRESENTS:
This Authority to Sell with Exclusive Right to Sell is made and executed on this ____ day of _______, 20, by and between:
PRINCIPAL: Name: [Principal’s Full Name] Citizenship: Filipino Civil Status: [Married/Single/Widowed], of legal age Residential Address: [Complete Residential Address] Tax Identification Number (TIN): [TIN Number]
And
AUTHORIZED AGENT: Name: [Agent’s Full Name] Citizenship: Filipino Civil Status: [Married/Single/Widowed], of legal age Residential Address: [Complete Residential Address] Tax Identification Number (TIN): [TIN Number]
Collectively referred to as the “PARTIES.”
WITNESSETH, that:
WHEREAS, the PRINCIPAL is the lawful owner of certain real property, situated in the City/Municipality of [City/Municipality], Province of [Province], Philippines, particularly described as follows:
(Insert Property Description here, including the title information, lot number, boundaries, and technical details as per the Transfer Certificate of Title or Tax Declaration.)
WHEREAS, the PRINCIPAL desires to appoint an AUTHORIZED AGENT with the exclusive right to offer, negotiate, and secure potential buyers for the said property;
NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, the Parties hereby agree as follows:
- Appointment: The PRINCIPAL hereby appoints the AUTHORIZED AGENT with the exclusive right to offer, negotiate, and secure potential buyers for the property described above.
- Exclusive Right to Sell: During the term of this Authority to Sell, the AUTHORIZED AGENT shall have the exclusive right to market and sell the property. The PRINCIPAL shall not appoint other agents or personally sell the property during the duration of this exclusive authority.
- Duties and Obligations of the AUTHORIZED AGENT: a. The AUTHORIZED AGENT shall use best efforts to market and promote the property to potential buyers. b. The AUTHORIZED AGENT shall provide interested buyers with accurate and complete information about the property and facilitate property viewings as needed. c. The AUTHORIZED AGENT shall promptly inform the PRINCIPAL of any inquiries, offers, or developments related to the property. d. The AUTHORIZED AGENT shall not engage in any activity that may harm the PRINCIPAL’s interests or reputation.
- Compensation: The AUTHORIZED AGENT’s compensation shall be in the form of a commission based on the successful sale of the property. The commission rate and other payment terms shall be agreed upon separately by the Parties in writing.
- Duration: This Authority to Sell with Exclusive Right to Sell shall be in effect for a period of [Duration in months or years] from the date of execution, unless earlier terminated by either Party with written notice to the other.
- Termination: In the event that the PRINCIPAL sells the property directly or through another agent during the term of this exclusive authority, the AUTHORIZED AGENT shall be entitled to the agreed commission if the buyer was sourced or negotiated by the AUTHORIZED AGENT during the period of the exclusive authority.
- Governing Law: This Authority to Sell with Exclusive Right to Sell shall be governed by and construed in accordance with the laws of the Republic of the Philippines.
IN WITNESS WHEREOF, the PARTIES have hereunto set their hands on the date and place first above written.
[Principal’s Full Name and Signature] Principal
[Authorized Agent’s Full Name and Signature] Authorized Agent
SIGNED IN THE PRESENCE OF:
[Witness 1 Name and Signature] Address: ___________________
[Witness 2 Name and Signature] Address: ___________________
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