UTAH DEPARTMENT OF TRANSPORTATION

SURPLUS LAND ONLINE AUCTION

Broker – Client Registration Information

 

The Utah Department of Transportation is authorized to pay commissions or finder’s fees to Utah licensed real estate brokers who represents and provides a successful buyer for a sale transaction on surplus property.  In order to be eligible for payment of a commission or finder’s fee on a particular property, brokers must register their clients with the Utah Department of Transportation by completing the Broker - Client Registration Form and submitting it for approval prior to the auction transaction. A finder’s fee of 2% of the final selling price is available to qualified pre-registered brokers

Finder’s Fees - Terms

  1. A finder’s fee of two (2%) of the final selling price may be payable to a real estate broker upon the following terms:

 

  1. The broker must be licensed in the State of Utah. Real estate agents may represent clients for the online auction; however, payment will be made only to licensed Utah brokers.

 

  1. The signed Broker - Client Registration Form must be received by SVN Auction Services no later than 5:00 p.m. two (2) business days before the auction is to close for the identified property. The registration form can be scanned and emailed to david.gilmore@svn.com.

 

  1. The form must be signed by both the broker and the client and must list the property address the client is interested in purchasing. A finder’s fee will not be paid for property which is not identified on the form (one form per property).

 

  1. The broker’s client must be successful at purchasing and closing on the property described on the registration form.

 

  1. For tax and payment purposes, the broker representing the successful bidder will be required to submit a W-9 at the close of the auction for payment purposes.

 

  1. The broker must submit an invoice to the Utah Department of Transportation for the finder’s fee being claimed. The invoice must identify the Property Address, Sale Amount, Auction Property No. and UDOT’s corresponding Pin, Project and Parcel Number.

 

The invoice must be submitted no less than five (5) business days before the closing date.

 


BROKER / CLIENT UDOT ONLINE AUCTION REGISTRATION FORM                        
SURPLUS PARCELS

 

Property Address: _____________________________________________

 

Principal / Buyer Information                            Broker Information 

                       

Name                                                                         Name

___________________                                          ___________________

Title                                                                            Title

___________________                                          ___________________

Company                                                                  Company

___________________                                          ___________________

Address                                                                     Address

___________________                                          ___________________

City, State, Zip                                                          City, State, Zip

___________________                                          ___________________

Daytime Phone                                                        Daytime Phone

___________________                                          ___________________

Mobile Phone                                                           Mobile Phone

___________________                                          ___________________

Email                                                                          Email

___________________                                          ___________________

 

Registration form must be signed by principal | buyer to be valid. Special Notice: No sub agency is offered or implied. A referral broker must represent the actual buyer and as acknowledged by buyer. In addition, the Broker | Client registration must be in full accordance with the terms of sale and the sale(s) must be approved by the State of Utah Department of Transportation (UDOT) for any fee to be paid. A finder’s fee will not be paid for property which is not identified on the form (one form per property).

Fully executed form is to be returned no later than 5:00 PM two (2) business days before the auction closes either by (i) scanning and emailing to david.gilmore@svn.com or (ii) faxing to 504.468.6811.


Click here to download the Client Registration Information and Broker Registration Form