Part 1 of this form is where the buyer or broker gives notice of cancellation to the other. A signature is required in Part 1 below paragraph 2. Paragraph 3 of the form identifies the compensation that would be due the buyer’s broker. Reverts back to the BRBC form and applies to any applicable property purchased or only those for which there was broker involvement. Other compensation options include just expenses incurred, broker receiving a referral fee, broker getting paid from the seller, or no compensation at all.
Revised December 2022