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#218887 - 04/11/08 02:47 PM "Hold Harmless" Agreement
Adolfo Santiago Offline
Member

Registered: 08/30/07
Posts: 130
Loc: Orlando, FL
Does anyone have some sample verbage that can be used for a "hold harmless" agreement? A clause or something?

One of my sellers is willing to allow the buyer to install appliances in the house prior to closing as part of buyer compliance with FHA loan conditions. They want me to do a "hold harmless" agreement and they don't have one of their own.

Has anyone ever had to do one of these?
_________________________
Adolfo Santiago, Realtor
Sun Crest Florida Properties
Orlando, FL

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#218964 - 04/11/08 09:25 PM Re: "Hold Harmless" Agreement [Re: Adolfo Santiago]
jgh Offline
Member

Registered: 01/23/08
Posts: 35
Loc: NJ, USA
My property management agreement's "hold harmless" provision while not exactly the same thing might help you write one.

SAVE HARMLESS
a.) To save the Agent harmless from all damage suits in connection with the management of the herein described property and from liability from injury suffered by any employee or other person whomsoever, and to carry, at his own expense, necessary public liability insurance adequate to protect the interests of the parties hereto, which policies shall be so written as to protect the Agent in the same manner and to the same extent they protect the Owner, and will name the Agent as co-insured. The Agent also shall not be liable for any error of judgement or for any mistake of fact of law, or for anything which it may do or refrain from doing hereinafter, except in cases of willful misconduct or gross negligence.
b.) The Agent is hereby instructed and authorized to pay mortgage indebtedness, property taxes, special assessments, and to place fire, liability, or any other insurance required, and the Agent is hereby directed to accrue and pay for same from the Owner's funds, with the following exceptions: Owner to pay all above.
If Owner shall fail to pay to Agent the sums due to Agent under Paragraph 2b) hereof, or if any mortgage upon said property shall be foreclosed and the mortgagee or other person, firm or corporation lawfully entitled to possession of said premises under said foreclosure shall demand or take possession thereof, or if any person or corporation holding an assignment of the rentals due or to become due upon said premises shall exercise his or its right to collect said rentals, or, if such rentals shall be seized under any order of any court, or if Owner shall fail to furnish Agent with funds necessary, in Agent's sole opinion and discretion, to properly operate and maintain said premises and necessary services in connection therewith, then, in any of such events, at Agent's option, Agent may terminate this Agreement, with or without prior notice to Owner, but any such termination shall not relieve Owner of any of his or its obligations to Agent theretofore accrued. Upon any such termination, Agent shall make a full written accounting to Owner for all funds received by Agent since the date of any last such accounting made to Owner.

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#218968 - 04/11/08 09:32 PM Re: "Hold Harmless" Agreement [Re: jgh]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
I should have one you can use if I can locate a copy (been a while since I needed it). You can PM a fax number or e-mail address and when/if I find it I will pass it along.

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#219097 - 04/12/08 03:16 PM Re: "Hold Harmless" Agreement [Re: Mr. Foreclosure]
Adolfo Santiago Offline
Member

Registered: 08/30/07
Posts: 130
Loc: Orlando, FL
Thanks for the replies guys!

Because of time constraints, I had to write my own. I'm posting it here for the benefit of the collective. I was suprised to find out that these agreements are like ghosts: everyone knows about them, but no one has ever seen one. I hope this helps someone else in my same situation.

I wrote this on a contract addendum form, the usual one from the Realtors association that already has spaces for the address and the signatures.

By the way, the usual disclaimers apply: This is not legal advice and use at your own risk. Don't call me if you get in legal hot water because you used this.

Here it is:

=======================================================

RELEASE AND AGREEMENT TO HOLD HARMLESS

In consideration for being allowed access to the property indicated above before closing and transfer of ownership, and for the sole purpose of:

1. Installation of kitchen appliances in order to comply with FHA loan conditions that require them.

Buyer agrees to exercise all reasonable caution and care to a) protect and preserve the real estate and improvements from any damage or loss and b) to protect themselves and everyone else with whom they access the property from damage, loss, or injury. Buyer further agrees to indemnify and hold harmless the Seller, the Seller's brokers and their agents and employees, and any other party related to or associated with the Seller, from any and all claims resulting from injuries, damage, or loss to persons or property arising from accessing the property and any and all activities performed within it.

Access is being granted solely and strictly for the purpose stated above and only for the time period beginning on Friday, April 11, 2008 at 12:00 PM and ending on Tuesday, April 15, 2008 at 5:00 PM (EST). Such access does not grant any rights of possession or create any type of tenancy.

=============================================

Enjoy!
_________________________
Adolfo Santiago, Realtor
Sun Crest Florida Properties
Orlando, FL

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#219107 - 04/12/08 03:41 PM Re: "Hold Harmless" Agreement [Re: Adolfo Santiago]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
I'm not an attorney but it sounds good to me!

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#219280 - 04/13/08 12:57 PM Re: "Hold Harmless" Agreement [Re: Mr. Foreclosure]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 1817
Loc: Outer Banks
Lawyers practice law, we practice real estate. It becomes a dangerous trip when we get them confused.

What if the buyer has his brother do the work? It looks like he can still sue if he gets hurt.

Who is responsible for repairing any damage caused by the buyer? I would guess you will be the first one asked because you didn't cover it in your agreement.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#219299 - 04/13/08 04:09 PM Re: "Hold Harmless" Agreement [Re: Bigtoe]
Adolfo Santiago Offline
Member

Registered: 08/30/07
Posts: 130
Loc: Orlando, FL
Bigtoe: I will answer your question, but I won't nitpick the agreement any further. It should be considered a good starting point. Modify as needed. Or don't.

Any damage caused by the buyer is the responsibility of the buyer, just as it would be if she was driving down the street, lost control, and hit the house by accident.

If someone under the control of the buyer decides to sue, the seller's response will be "go talk to the buyer who took on all the liability during the approved access period." And if they go there outside that period, they would be trespassing. And that can happen with anyone at any time.

When I said don't call me, I meant anyone using what I posted. Use at your own risk. It isn't a perfect agreement and it could easily be 17 pages longer of legalese, but it's what we had to do and both the seller and the buyer approved it.
_________________________
Adolfo Santiago, Realtor
Sun Crest Florida Properties
Orlando, FL

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#219452 - 04/14/08 04:13 AM Re: "Hold Harmless" Agreement [Re: Adolfo Santiago]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
Since you are not an attorney you should probably add the language: "This is a legally binding document, if not fully understood consult an attorney before signing." As I recall that statement is interpreted as relieving agents from the possible charge of unauthorized practice of law (at least in New York).

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#219462 - 04/14/08 04:35 AM Re: "Hold Harmless" Agreement [Re: Mr. Foreclosure]
Adolfo Santiago Offline
Member

Registered: 08/30/07
Posts: 130
Loc: Orlando, FL
This is good advice. I use the contract addendum form so the agreement becomes part of the contract and the main contract already has the clause you mentioned.
_________________________
Adolfo Santiago, Realtor
Sun Crest Florida Properties
Orlando, FL

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#219465 - 04/14/08 04:42 AM Re: "Hold Harmless" Agreement [Re: Adolfo Santiago]
northtxbroker Offline
Major Contributor

Registered: 05/18/07
Posts: 1864
Loc: Texas
When you start writing your own addendums, you're practicing law. Watch out....

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