RD 1955-42 Open Real Property Master Listing Agreement

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Form RD 1955-42
(Rev. 6-97)

FORM APPROVED
OMB NO. 0575-0172

UNITED STATES DEPARTMENT OF
AGRICULTURE RURAL DEVELOPMENT FARM
SERVICE AGENCY

OPEN REAL PROPERTY MASTER
LISTING AGREEMENT
This agreement is for a: (a) Term Listing
The property(ies) to be listed is (are): (a) Residential

(b) Individual Property Listing
(b) Farm

Contract No.

(d) Other
Rural Housing Service;
Farm Service Agency as owner of the property or properties
(c) Commercial

THIS AGREEMENT is entered into by and between the United States Government represented by the
Rural Utilities Service;

Rural Business-Cooperative Service;

to be listed, herein called the ''Government'', and
,
licensed to engage in the business of selling real property, hereinafter called ''BROKER''. BECAUSE the Government is the owner of
real property or properties specifically described on certain notices issued by the Government and desires to sell this property and
BECAUSE BROKER can and will provide services for the sale of real property, the
parties agree as follows:

I.

PERIOD OF AGREEMENT
A.
Term Listing. If this Agreement is for a term listing, it is effective upon date of signature and continues until December

B.

31 of this current year. Properties offered for sale under this term listing shall be listed for the term of this Agreement unless sooner
sold or withdrawn, except that this Agreement shall continue in force for any property listed after September 1 of this current year
subject to sale or withdrawal, for a period of one hundred twenty (120) calendar days from the
effective date of the notice of real property for sale.
Individual Property Listing. If this Agreement is for an Individual Property Listing, it is effective upon date of signature and continues
for a period of one hundred twenty (120) calendar days from the effective date of the notice of real property
for sale attached hereto or until the property is sold or withdrawn.

RENEWAL: By mutual consent in writing of the parties hereto, this Agreement may be renewed for not to exceed one (1)
calendar year for Term Listing and not to exceed one hundred twenty (120) calendar days for Individual Property Listing.
III. TERMINATION: The Government or BROKER may terminate this Agreement upon thirty (30) days written notice to the
other party. This Agreement shall continue in force for any individual property until that property has been listed for one

II.

hundred twenty (120) calendar days unless sold or withdrawn.

IV.

SERVICES PROVIDED By THE GOVERNMENT
A. Listing. Specific property listings are made by the Government preparing a notice of real property for sale for each
property to be listed. In conformance with current Government regulations notices will be made available to BROKER
pertaining to location of the listed property, physical description, the selling price, types of financial assistance available,
any limitations on the offering, the effective date of the notice, listing changes, withdrawal, sales of listed property, and
other pertinent information. The notice shall be furnished as follows:
BROKER shall be responsible for obtaining current notices of real property for sale or changes and withdrawals, by
appearing personally or through agent at the Government listing office at least once weekly.
The Government shall prepare and deliver/mail to BROKER one copy of current notices of real property for sale, or

B.

C.
D.

E.

changes and withdrawals, when property is offered for sale or when changes or withdrawals occur.
Sign. When appropriate, the Government will install a ''For Sale'' sign on each property. This sign will direct the
prospective purchaser to contact any real estate broker. Only Government authorized signs may be displayed on listed
property.
Access. The BROKER will be given access to each property with keys, or lock box installation. Property keys or lock box remain the
property of the Government and shall be returned by the BROKER to the Government after use is completed.
Financial Assistance. The Government may provide financial assistance to credit worthy purchasers of its property who request
financing in accordance with the rates and terms described in Government regulations. Specific information on available financing will
be furnished on each notice of real property for sale. The Government will solely determine the
suitability of property and the eligibility of prospective purchasers in accordance with its procedures.

Forms. Sufficient copies of Government forms to be submitted with offers will be provided to the BROKER for all
aspects of sale and financial assistance transaction. These forms are:
Form RD 1955-45, ''STANDARD SALES CONTRACT SALE OF REAL PROPERTY BY THE UNITED STATES''
Form FSA 410-1, ''REQUEST FOR DIRECT LOAN ASSISTANCE''
Form RD 410-4, ''APPLICATION FOR RURAL HOUSING ASSISTANCE''

Form SF 424.1, ''APPLICATION FOR FEDERAL ASSISTANCE (FOR NONCONSTRUCTION)''
Form SF 424.2, ''APPLICATION FOR FEDERAL ASSISTANCE (FOR CONSTRUCTION):"
Form RD 1910-5, ''REQUEST FOR VERIFICATION OF EMPLOYMENT'' Form RD 410-9,
''STATEMENT REQUIRED BY THE PRIVACY ACT:

as appropriate

or other such form(s) as may subsequently be approved for use by the Government
According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB
control number for this information collection is 0575-0172. The time required to complete this information collection is estimated to average 30 minutes per response, including the time
for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information.

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Broker Assistance. Government will provide additional assistance as follows:
Appropriate Government regulations and Forms Manual Inserts shall be made available for reading at the
Government listing office during the normal working hours to BROKER and his/her licensed agents.
The Government listing office shall conduct an appropriate instructional class at least twice annually for BROKER
and his/her licensed agents. Date, time and place of instruction shall be announced by letter in advance.
G. Referrals. All inquiries received from the public concerning listed property will be referred to qualified BROKERS on an
equitable basis. Government will not engage in sales activity of listed property during the period of this Agreement.
SERVICES PROVIDED BY THE BROKER
A. Advertising. If BROKER advertises property for sale, he/she shall pay all costs of advertising.
B. Showing Property. BROKER shall show the property to all qualified prospects. He/She will advise the Government
listing office personnel immediately of any damage, vandalism or unusual circumstances involving the property.
C. Taxes and Insurance. BROKER shall advise the prospective buyer of the estimated amounts for annual taxes and
insurance.
D. Offers to Purchase. BROKER shall promptly convey offers to purchase to the Government. Offers to purchase shall be
made on Government sales contract forms. Offers to purchase from a prospective buyer who may qualify for credit on
eligible terms will include the appropriate application forms for the respective loan program. Offers requesting credit on
ineligible terms will require Government sales contract forms and sufficient information to establish financial stability,
credit worthiness and adequate repayment ability.
Closing Costs. BROKER shall advise the prospective buyer of estimated closing costs to be paid at or before closing.
E.
These include items such as closing agent fees, recording fees, etc.
GENERAL CONDITIONS
A. Standard Sales Contract - Sale of Real Property. The conditions set forth in Government sales contract forms and as
indicated on notice of real property for sale shall apply to all offers and contracts obtained by BROKER.
B. Earnest Money. A prospective buyer shall deposit with BROKER or cooperating broker Earnest Money not less than the
amounts set forth in Government regulations for the type property involved. BROKER or cooperating broker shall hold
the Earnest Money in trust until time of closing of the sales transaction when it shall be given to the closing agent or the
Government. The prospective buyer and BROKER or cooperating broker will agree upon the amount, if any that the
prospective buyer will pay to BROKER or cooperating broker in the event an offer is accepted by the Government and the
prospective buyer refuses to complete the sales transaction. Neither BROKER nor cooperating broker will charge or
collect a fee or commission from a prospective buyer under any other circumstances. Forfeited earnest money deposits
shall be immediately delivered to and retained by the Government.
C. Nondiscrimination. All property must be offered without regard to race, creed, color, national origin, sex, marital status,
age, religion or handicap.
D. Offering Limitation
1. Property will be offered for sale to Government defined eligible applicants in accordance with the terms of the
notice of real property for sale and thereafter the general public.
2. An offer for suitable property made by an eligible applicant will be considered for financial assistance in accordance
with Government regulations.
Consideration of Offers. Offers will be considered in the order prescribed by Government regulations. Offers tendered
from purchasers requesting Government assistance on ineligible terms prior to the expiration of the period limited to
purchasers requesting Government assistance at eligible terms will be held until the beginning of business on the day
following the limitation, and then considered in accordance with Government regulations. Offers less than the listing price
will be held by the Government pending any administrative price reduction, reappraisal, withdrawal or expiration.
Incomplete Offers. Offers which are incomplete or lacking required additional forms may be rejected at the sole
F.
discretion of the Government.
G. Agreement Administration. This Agreement will be administered under the provisions of the Federal Acquisition
Regulations (FAR) as prescribed in Chapter 1 of Title 48 of the Code of Federal Regulations except as provided 7 CFR,
Part 1955, Subpart C or as subsequently assigned by the Government.
COMMISSION: For all services rendered which result in a Completed sale transaction, BROKER will receive as full
compensation a sum determined as a percentage of sale price of the property as follows:
A. Residential Properties of one or two living Units
Percent
B. Residential Properties of more than two living units
Percent
C. Farm Properties
Percent
D. Commercial Properties
Percent
E. Other Properties
Percent
F. Special Effort Properties
The percentage of sale price indicated on the notice of real property for sale
PLUS any bonus, in dollar amount, so indicated.
F.

V.

VI.

VII.

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The commission will only be due and payable at the time a sales transaction is closed and title has passed. No commission will be due
from the Government if a transaction is not closed for any reason. No commission will be paid for sales where the sale is to BROKER,
BROKER'S salesperson(s), to persons living in BROKER'S or salesperson's immediate household or to the legal entities in which
BROKER or salesperson(s) have an interest. Commissions will be paid at closing where sufficient down payment is made by
Purchaser, otherwise commissions will be paid within thirty (30) days of closing. BROKER will be responsible for division of
commissions with cooperating brokers.
VIII. NONDISCRIMINATION CERTIFICATION:
A. General. The undersigned broker participating in the sales of Government-owned properties agrees that neither he/she nor
any of his/her sales or rental personnel, employees, or others authorized to act for him/her will, in violation of Title VIII of
the Civil Rights Act of 1968 (the ''Fair Housing'' Title VIII of Public Law 90-284) or Executive Order 11063, decline to
show or will discriminate in the sale or rental of any property now or hereafter listed with him/her. It is further agreed that
the undersigned will: (1) instruct his/her staff in the policies of nondiscrimination and applicable laws; (2) prominently
display the Fair Housing Poster in all offices in which sale or rental activity takes place; (3) use the approved Equal
Housing Opportunity logo, slogan, or statement in all advertising in conformance with the Advertising Guidelines for Fair
Housing; (4) when advertising Government-owned properties located in predominantly white areas, utilize any available
minority media (solely or in addition to other media); and (5) maintain a nondiscriminatory hiring policy by affirmatively
recruiting from both minority and majority groups for staff.
B.

Noncompliance. The undersigned agrees that noncompliance by him/her or any employee of his/her organization with the
laws, executive orders, or regulations against discrimination in the sale or rental of any property or with this certification
will be proper basis for barring the undersigned from participation in the program of selling, renting or managing
Government-owned properties. The undersigned understands that such determination of debarment by either Rural
Development, Farm Service Agency, or HUD shall be honored by all.

The parties have executed this Agreement on this

day of

Signature (Broker)

,20

Signature (U.S. Government)

Typed Name and Title

Company Name

(Agency)
(Address)
(Telephone No.)

(Address)
(Telephone No.)

AGREEMENT RENEWAL

,

IN ACCORDANCE WITH ARTICLE II, the parties to this Agreement hereby renew the same until
20
IN WITNESS WHEREOF the parties executed this renewal on this

Signature (Broker)

Company Name

day of

,20

Signature (U.S. Government)

Typed Name and Title
(Agency)

(Address)
(Address)
(Telephone No.)

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(Telephone No.)