Addendum

TXR 1402 — Named Exclusions Addendum to Listing

The Named Exclusions Addendum to Listing allows a property owner (seller or landlord) to identify specific individuals by name who are excluded from the broker's full commission entitlement under the listing agreement. If the owner contracts with a Named Exclusion within a specified time period, the

Source: TXR
Form Number: 1402
Category: Addendum
Revised: June 24, 2024

Used For

Residential Sales, Residential Leases, Commercial Sales

Form Outline

The TXR 1402 form is organized into the following sections:

  1. Header and Property Identification
    Identifies the property address and links this addendum to the existing listing agreement.
  2. Definitions
    Defines 'Owner' as the seller or landlord, and 'Named Exclusion' as the specific persons listed by the owner who are excluded from the broker's standard commission.
  3. Contract with a Named Exclusion
    Establishes the terms under which a Named Exclusion sale/lease results in a reduced commission. The owner must contract within a specified number of days. If the deadline passes or if the Named Exclusion routes an offer through any broker, the exclusion terminates and full commission applies. A reduced fee structure (percentage or flat fee) is specified for valid exclusion transactions.
  4. Offers from Named Exclusions
    Requires the owner to immediately notify the broker of all activity with Named Exclusions: receipt of offers, acceptance (with a copy of the contract), closing, and any termination of a contract that does not close.
  5. Effect on Listing upon Sale or Lease to a Named Exclusion
    If the owner contracts with a Named Exclusion within the exclusion period, the broker has no obligation to provide further services for that transaction. The broker may either terminate the listing or continue marketing for back-up offers.
  6. Signatures
    Signature block for the broker (or broker's associate) and owner(s) with printed names, license numbers, and dates.

How RaiderX Agents Use This Form

When you upload a signed TXR 1402 to a deal in RaiderX's Deal Manager, it reads the form's key dates and terms and automatically builds out your deadlines, contingencies, and tasks — so nothing slips through the cracks between contract and closing. Forms with a fill map also support e-signature directly inside RaiderX, so you can send this document for signature without leaving the platform.

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