REAL ESTATE
COMMISSIONS:
Any and
all real estate commissions for the buyer’s real estate
agent are to be paid from initial seller transaction
close based on auction winning bid. Seller commissions
are to be agreed upon initial seller and seller’s real
estate broker. A buyer commission of 3% of auction
winning bid will be paid out of closing to any buyer
real estate broker that was indicated BEFORE a bidder’s
authorization auction number was initiated. If no real
estate broker is identified BEFORE authorization number
is determined there will be zero buyers’ real estate
commissions. Any and all disputes are between buyer/
initial seller real estate brokers and buyer/sellers. RE
Champ is specifically not involved and shall be held
without liability by all parties.
GOT
QUESTIONS?
How much do I make in commission?
As long as; you are licensed to represent
buyers and/or sellers of real estate in the state in
which the property is located; you make whatever amount
you agreed to; with the initial seller in the listing
agreement.
How to I become a registered agent/broker with
www.REChamp.com?
You must register on the web site;
www.rechamp.com,
be a licensed agent/broker.
Is there a limit on the number of properties that I can
represent on www.REChamp.com?
NO LIMIT
Is there a limit on the number of offers that I can make
to my clients from Champ Funding?
No Limit, you can make an unlimited number of offers
(only one per property though) and all offers must be
approved by Champ Funding or its’ authorized
representative
Is this a listing; or is Champ Funding actually buying
every property that is on www.REChamp.com??
It is a sale; with one contingency (see below) and can
not be listed for sale after an agreement has been
reached.
What is the 15 day rule?
If the bidders’ pool does not fill in 15 days or less;
the initial seller has three (3) options.
1.
Extend the agreement another 15 days
2.
Have the initial seller accept a lower amount
based on the number of bidders in the pool.
3.
Take the property back and remove it off of the
www.REChamp.com
site.
How is the purchase agreement put together?
·
You help your client register property and pay the fee
http://rechamp.com/listyourhome.php
·
You (on your state approved purchase agreement) put
together an offer, have your client sign it and send
back to
customerservice@rechamp.com
1.
Sales Prices: (Asking Price-must cover all encumbrances)
2.
Buyer: Champ Funding, Inc.
3.
Earnest: none
4.
Close of Escrow: 15 days after you receive back property
web site
5.
Contingencies: See below
6.
Financing: none
·
You collect Pictures and property info to forward to
customerservice@rechamp.com
·
You receive back property web site (usually 3 business
day)
·
You help promote property to fill bidders pool and make
$20 for every bidder you sponsor
http://www.REChamp.com/ShareTheDream
Does the Contingency clause have to be part of every
agreement?
YES
What is the Contingency clause?
TO BE INCLUDED ON EVERY OFFER
"This offer is contingent upon the bidders' pool for
www.REChamp.com being
filled. Number of bidders is determined by the offer
amount of this agreement times 1.1 divided by 35. Seller
authorizes RE Champ, Champ Funding, and/or their agents
to market/advertise the property during the time of this
agreement until the auction has closed. Initial seller
to pay, 100% of closing costs for both the sale to Champ
Funding and the ultimate auction winner, via escrow or
closing agent. These costs include but are not limited
to: all real estate agent/broker fees, all prepaids
(100%) , a 1% marketing fee.
Agent then sends us Contact, pictures, and info on
property. We post
property with its own URL. We try to fill the bidding
pool in 15 days or less. If pool is not full; at 15 day
intervals, it is completely up to initial seller to: 1)
extend agreement another 15 days, 2) take collect
amount, 3) cancel agreement.
Here is the
ONLY contingency clause:
"This offer is contingent upon the bidders’ pool for
www.REChamp.com being filled. Number of bidders is
determined by the offer amount of this agreement times
1.1divided by 35. Seller authorizes RE Champ, Champ
Funding, and/or their agents to market/advertise the
property during the time of this agreement until the
auction has closed. Initial seller to pay 100% of
closing costs for both the sale to Champ Funding and
the ultimate auction winner, via escrow or closing
agent. These costs include but are not limited to:
all real estate agent/broker fees, all prepaids
(100%) , a 1% marketing fee.
Agent
then sends us Contact, pictures, and info on
property. We post property with its own URL. We
try to fill the bidding pool in 15 days or less. If
pool is not full; at 15 day intervals, it is
completely up to initial seller to: 1) extend
agreement another 15 days, 2) take collect amount,
3) cancel agreement.
