It is strictly prohibited for agents, independent contractors, or employees of Buy the Beach Realty Group to accept kickbacks, referral fees, splits from markups, or compensation of any kind from any vendors providing services to customers.
When referring customers to vendors, it is best to supply 2-3 options. We can never guarantee the quality of product or services, but certainly steer clear of impropriety.
There’s a saying, “Everything is fine until it’s not.” Even good, reliable vendors can mess up.
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Disbursal
Request:
Use this
on-line form to submit request for disbursal from our Trust Account. Please
read all instructions:
1. This form is only required
if Buy the Beach Realty, Inc. is holding the escrow deposit. If we are
not the escrow agent, you do not require this form.
2. If both agents
participating in the transaction are Buy the Beach agents, the form should be
submitted by the Selling agent.
3. This form has nothing
to do with requesting a commission check. You do not need to submit it to
receive a commission; you do need to submit it if you need to disburse escrow
deposits to settle a transaction. Commissions are not paid from escrow funds
and you will receive commissions when you have earned them. For
requirements to receive commission checks link here.
4. When you submit this
form, you will see a display on your screen of the information submitted. You
may use the "Print" function on your web browser to print a copy
which should be scanned and emailed as PDF to fax@buybeach.com or, if
impractical, faxed to 305-531-6742 and saved as a reference.
5. Please review your
submission carefully before sending it. There will be a $50.00 charge
for replacement checks issued after your order has been processed.
Checks
ordered before 4 PM will be available after noon on the next business day. It
is your responsibility to submit requests for checks in a timely
manner. If you do not receive an acknowledgement that this form was
processed within 24 hours of sending it, please notify David.
Your name:
Your e-mail:
Property Address:
Buyer/Lessee:
Seller/Lessor:
File Title: Instructions
Transaction type:
Sale
Lease
Your Role:
Selling
Agent
Listing Agent
Both
Sides
Closing/Move-In Date
Other agent (if any):
Other Brokerage Name and
mailing address:
How deliver the checks?
Give
them to me, I will deliver them
Leave
in pickup box for other agent
Mail
them to other broker
Other
(explain below)
In checking
off this box you are certifying to management that you have personally
verified the correct commission arrangement by reviewing the listing
agreement on file with the company (if our listing) or the MLS printout if
offered by a cooperating brokerage.
I have reviewed the listing agreement or MLS output if listed with another
brokerage. The commission rate payable/due is:
3% to Buy the
Beach
5% to Buy the Beach
6% to Buy the Beach
½
Months rent to Buy the Beach
1
month's rent to Buy the Beach
10%
to Buy the Beach
Other
(explain below)
Are any further payments
due to Buy the Beach Realty from any parties?
Yes No
This would include, for
example, commission balance checks from owners in rental transactions,
further payments of move-in money on rentals etc. You do not need to
include funds that are to be paid directly to someone else, such as
to a condo association etc. If you answer "Yes" to the above
question, then please indicate amount, source and type below:
Amount:
Source:
Landlord:
Tenant:
Other
Are any referrals due to
any outside parties, brokers, relocation companies?
Yes No
If so, please indicate amount or percentage:
Payable to whom?
(if to an agent, give name of his/her Brokerage):
You
should verify this by reviewing the deposit(s) in the file.
If you have done this and are confused about the amount we are
holding, email David at buybeach@buybeach.com
Amount in Escrow:
Sale Price or Lease Value:
Indicate Payee and Amount for each Trust
Check below:
These are the checks from
our trust account to parties in the transaction such as the
settlement agent, our company, a cooperating brokerage, the seller, the
landlord, the other broker etc.
Do not include your commission
check paid to you by Buy the Beach
Realty here. It is not paid directly from Trust. What does belong
here is:
checks to participants in
the transaction such as Landlords or Sellers.
Funds payable to closing agents
Funds payable to Brokers
(including Buy the Beach Realty) for all or part of Brokerage fee to
be paid from Escrowed Funds.
The total of all the checks requested
should equal the amount in escrow for the transaction. If not, use the
Comments/Notes fields to explain why not.
Amount $:
Payee:
Comments/Notes:
Sales: You are responsible to verify the
amounts and payees above by reviewing the disbursals with the Settlement
Agent
Rentals: Review Rental
Disbursals for legal requirements, review and confirm with Listing
Agent if co-brokerage transaction.
Yes,
I confirmed amounts and payees.
No,
I want a $50.00 fine deducted from my commission!
Have you confirmed the
disbursals with settlement agent or co-broker?
Indicate name, company name address and phone number
of Settlement Agent (if a Sale).
Settlement Agent also called Closing Agent is
the attorney or Title Company responsible for holding the closing and
preparing the Settlement Statement (HUD-1).
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