Mutual Agreement and Understanding between Ryvenco.com and User
For the purpose of clarification and identification of this agreement the following names or titles will be used.
Ryvenco, LLC may be referred to as Ryvenco.com, Ryvenco Realty or Ryvenco.
User, visitor or potential customer to this site will be referred to as Buyer. The term Buyer is for identification purposes only and does not obligate the user to purchase anything and there is no cost to user (buyer) at any time.
Builder, will mean and reefer to all builders, developers, communities and or their agents, sub-agents or employees.
Buyer's Agent (Ryvenco), as defined by the State Real Estate Commission, works to insure the buyer's best interest "even tough" Buyers Agent may be paid by a third party
Ryvenco.com: Buyers Agent
Affiliated Broker - A licensed real estate broker that Ryvenco.com refers buyers to. All affiliated brokers are bound by the terms & conditions stated here.
Ryvenco, LLC. AKA Ryvenco.com (Ryvenco) operates as a new home Information and referral (introduction) service. It is the intention of Ryvenco to gather collect & distribute information relating to new homes; free of charge, to the home buying public and to assist the buying public locate and purchase a new home. Ryvenco will, and does collect, a fee from the participating builder or listing Real Estate Broker for registering potential new home prospects at builders community, with builder or builders agent if, and in the event, that registration results in the purchase of property. There is no obligation or requirement for any user or visitor to the Ryvenco web site to purchase any home and there is never a charge to user for any services rendered by Ryvenco.
Ryvenco is not a sales organization and does not operate as an agent, sub agent or employee of any builder or other Reality company. That being said Ryvenco does declare that it is a licensed Real Estate enmity and complies with the various state licensing laws relating to real estate sales, Ryvenco states and announces that, even though our fees are paid by the builder or Real Estate Listing broker, we operate as a Buyers Agent. Ryvenco and any employee, agent or representative of Ryvenco will and does represent the best interest of the buyer; however, Ryvenco will endeavor to treat all parties fairly, honestly and in a responsible manor.
Equal Housing Opportunity
All real estate information and services provided by Ryvenco is subject to the Federal Fair Housing and Civil Rights Laws, which makes it illegal to advertise "any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation or discrimination." Ryvenco is pledged and committed to the letter and spirit of the United States policy for the achievement of equal housing opportunity. Ryvenco encourages and supports an affirmative program in which there are no barriers to obtaining housing information because of race, color, religion sex, handicap, familial status, or national origin.
RELATIONSHIP & EXCLUSIVE BUYER AGENT AGREEMENT
It is acknowledged and understood that Buyer and Ryvenco will enter into a mutual relationship by both electronic signature and in spirit where buyer accepts, appoints and authorizes Ryvenco to act as Exclusive Buyers Agent should and if buyer elects to visit any of the communities, new home builder or listing brokers located, found or viewed on the Ryvenco web-site. Both Ryvenco and Buyer agree to comply with the terms and conditions as outlined below.
TRANSFER OF THIS AGREEMENT:
Buyer agrees that Ryvenco may assign or transfer this Agreement to another Broker at any time without notification to Buyer, however doing so will not alter or change any of the conditions perversely stated.
RYVENCO'S OBLIGATIONS AND RESPONSIBILITIES: PERTAINING TO THE REBATE PROGRAM
- Ryvenco Agrees To:
- Ryvenco will make a good faith effort to maintain current and reliable information relating to buyer’s requirements on the Ryvenco web-site. Ryvenco will endeavor to assist Buyer throughout the term of this agreement in compliance with items stated below.
- Maintain a dialog between buyer and Ryvenco.
- Meet with Buyer at community or communities selected by buyers at a pre-arranged mutually agreed upon time, introduce buyer to builder or builder’s representative, and register buyer in accordance with builder's policy or requirements.
- Ryvenco will represent buyer as Buyers Agent as outline above in the buyer agent statement.
- Ryvenco acknowledges that it abides by all real estate rules and regulations as required by the state in which it does business.
As stated earlier Ryvenco may receive a fee from the builder or listing brokers In the event that the referred prospect purchases a new home at a community where buyer was properly registered. In this event Ryvenco will solicit, request, negotiate with or direct the seller to reduce the fee paid to Ryvenco and direct the settlement agent to give the Buyer this amount as a credit to the buyer or in the form of a check to buyer at settlement in accordance with the following schedule:
- Buyer will receive a rebate of 1% of base price of the home as credit to buyer. This rebate, is based on, and subject to, the builder paying to and Ryvenco receiving a fee equal to 3% of the base price of the home purchased.
- However, if in the event, Ryvenco receives a fee less then 3 percent of the base price of the home, the cash back bonus credit will be equal to 1/3 of the total amount of the fee paid to and received by Ryvenco from the builder.
- All rebates will be paid at time of settlement and will be shown as a credit to buyer on the HUD 1 document.
THIS AGREEMENT WILL BECOME NULL & VOID IF BUYER HAS PREVIOUSLY VISITED THE COMMUNITY, HAS REGISTERED WITH ANOTHER REAL ESTATE AGENT AT THE COMMUNITY PREVIOUSLY, OR IS ACCOMPANIED TO THE COMMUNITY WITH ANOTHER REAL ESTATE AGENT.
BUYER'S OBLIGATIONS AND RESPONSIBILITIES:
- Buyer agrees to:
- Follow the registration procedure ("Registration Procedure") as outlined below.
- Print a rebate coupon from the Ryvenco web-site for each new home community buyer plans to visit and notify Ryvenco, via e-mail or phone, of buyers desire to visit a given community or communities.
- Meet with the Ryvenco agent at the selected community or communities (at a mutually agreed upon time) and allow the Ryvenco agent to validate the Ryvenco coupon and register the potential buyer at the time of first visit to a new home community.
- Buyer will indicate on builders registration form that the buyer is working with, was referred by and that Ryvenco is the Buyers Agent upon buyers first visit to a selected community.
- Insure that Ryvenco is listed as the Buyer’s Agent on the purchase agreement of sale should potential buyer purchase a home at that community.
- Buyer will not utilize the services of any other broker/licensee for the location of new construction property during the Term of this Agreement.
- Buyer Warrants and Agrees That:
- Buyer agrees to provide accurate information during registration at the Ryvenco website, including my name and valid email address.
- Buyer will use information about new homes or new home communities found on the Ryvenco website solely for buyers own personal non-commercial use and will not redistribute, retransmit or sell information provided to buyer by Ryvenco without the written permission from Ryvenco.
- It is agreed and understood that in order to remain eligible for a rebate, Ryvenco must first print coupon and allow Ryvenco to register buyer with builder in accordance with the builder's policy.
- Buyer states that they have not signed an exclusive agency agreement with another real estate broker, and will notify Ryvenco in the event that they do.
- Buyer declares that they are not a licensed real estate broker or real estate agent.
- Buyer agrees to maintain communication with and allow Ryvenco and or Builder to contact buyer by e-mail, phone or should buyer elect to purchase a property.
- Buyer acknowledges that by accessing the information available on the Ryvenco web-site and printing a coupon Buyer will become a bona-fide client of Ryvenco.
- Buyer understands that Ryvenco does not and can not guarantee the accuracy of the information displayed on the Ryvenco web-site. Builders reserve the right to make changes to any and all information without notice.
- Buyer acknowledges that they were offered and has had the opportunity to read the Agency Disclosure Statement as required by the state Real Estate Commission.
- Buyer acknowledges that they have read and agreed to New Jersey Rebate Agreement through electronic signature.
This Agreement becomes effective when acknowledged and accepted by Buyer through electronic signature:
- Duration: Without such notice of termination this Agreement will terminate immediately upon execution of a seller's Agreement of Sale by Buyer, but, unless extended by both Buyer and Broker, this Agreement will otherwise end on a date no later than three hundred and sixty-five days (365) from the starting date of this Agreement. Upon termination, Ryvenco and Buyer will have no further obligations toward each other except the obligation for Ryvenco to: (1) request that the seller reduce the commission that they will pay to Ryvenco, and (2) further request that the seller direct the settlement agent to give the Buyer this amount as a credit toward Buyer's closing costs at settlement, will survive termination until the date of settlement by Buyer.
- Buyer and Ryvenco mutually agree that this Agreement may be terminated by either party at any time upon written notice by US Mail, email or fax.
NOTICE - IF BUYER HAS ANY QUESTIONS THEY ARE ADVISED TO SEEK LEGAL ADVICE BY CONSULTING AN ATTORNEY BEFORE ACKNOWLEDGING ACCEPTANCE OF THESE TERMS OF SERVICE THROUGH ELECTRONIC SIGNATURE.
Ryvenco and Buyer acknowledge acceptance of these Terms of Service through Electronic Signature
Ryvenco makes every effort to maintain current and up to date information, but Ryvenco does not and can not represent or warrant the accuracy or reliability of any statement, picture, drawing or other information displayed, uploaded or distributed through the Ryvenco web-site. Such information has been provided by independent third parties that are solely responsible for its content
Ryvenco or it's Affiliated Broker shall not be liable for, and the Buyer hereby waives, any claims Buyer may have against Ryvenco in any way relating to the property identified, listed or described in the Ryvenco website or the construction of any residence or other improvement constructed thereon by any of the Builders. Buyer specifically acknowledges that its rights and remedies with respect to the property, the condition of any home built by any Builder or any other aspect of its potential purchase of property listed in the Ryvenco website shall be against the Builders. Ryvenco shall not be liable for damage by reason of defects in materials or workmanship or for any other representations, warranties, statements or covenants of the Builder, whether express or implied (including, without limitation, any implied warranty of merchantability, habitability or fitness for a particular purpose) with respect to the information contained on the Ryvenco website, the property listed or referenced thereon, or the construction of the home on such property.
Ryvenco reserves the right to collect for damages:
Buyer agrees that Ryvenco will suffer damages through the loss of a fee if Buyer intentionally violates any provisions of these Terms and Conditions. The exact amount of fee lost may be difficult or impossible to calculate, however Ryvenco and Buyer agree that Buyer will pay Ryvenco $2,000 as liquidated damages for the loss of such fee if such Terms and Conditions are intentionally breached by buyer.