tiktok���˰�

The Buyer Broker Contract is a crucial document in Indian real estate transactions that formalizes the relationship between a property buyer and their chosen real estate broker. This agreement is particularly important in the context of India's regulated real estate market, where the Real Estate (Regulation and Development) Act (RERA) sets specific requirements for broker operations. The contract is used when a buyer seeks professional representation in property transactions, whether for residential, commercial, or industrial properties. It typically includes essential elements such as property search criteria, broker's scope of services, commission structures, exclusivity terms, and compliance requirements. The document ensures clarity in the professional relationship while protecting both parties' interests under Indian law, incorporating necessary provisions for RERA compliance and state-specific regulations.

1. Parties: Identification of the buyer and the broker, including full legal names, addresses, and registration details (especially RERA registration for broker)

2. Background: Context of the agreement, including buyer's intention to purchase property and broker's qualification to provide services

3. Definitions: Key terms used throughout the agreement, including 'Services', 'Property Requirements', 'Commission', 'Exclusive Period' etc.

4. Scope of Services: Detailed description of services to be provided by the broker, including property search, negotiation, and documentation assistance

5. Term and Exclusivity: Duration of the agreement and whether the arrangement is exclusive or non-exclusive

6. Broker's Obligations: Specific duties and responsibilities of the broker, including compliance with RERA and other applicable laws

7. Buyer's Obligations: Responsibilities of the buyer, including providing accurate requirements and cooperating with the broker

8. Commission Structure: Details of broker's compensation, payment terms, and conditions for commission eligibility

9. Confidentiality: Obligations regarding confidential information shared during the engagement

10. Termination: Conditions and process for ending the agreement, including notice periods and consequences

11. Indemnification: Mutual indemnification provisions for various scenarios

12. Governing Law and Jurisdiction: Specification of applicable laws and courts having jurisdiction

13. Notices: Process and addresses for formal communications between parties

14. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability