The purpose of this agreement is to define the relationship between you, or the entity you represent, and Texas Royalty Brokers when submitting bids and/or purchasing mineral rights listed on our platform.

I. Legal

1. Parties: This agreement is between you (the “buyer”) and Texas Royalty Brokers LLC (the “broker”).
2. Legal Authority: You confirm you have the authority to enter into this agreement on behalf of yourself or the entity you represent.
3. Indemnification: You agree to indemnify Texas Royalty Brokers from any claims, lawsuits, losses, or liabilities, including costs and attorney fees, related to buying mineral rights on our platform.
4. Term: This agreement is effective from the execution date until canceled in writing by either party. The terms will survive for any listings you have previously bid on or have under contract.
5. Agreement Validity: Texas Royalty Brokers does not need to countersign this agreement for it to be valid.
6. Electronic Agreement: If signed online, this agreement is binding as if physically signed.

II. Offers

7.Offers: All offers must be made through Texas Royalty Brokers unless otherwise agreed. This clause only applies to properties listed on our website; you may make offers directly to mineral owners not exclusively listed with us.

III. Purchase and Sale Agreement

8. Commission: Texas Royalty Brokers’ commission (default 6%) must be included in the PSA or a separate signed agreement before the fully executed PSA is received.
9. Cancelled Contract Fee: A fee of $5,000 for deals under $1,000,000 or $10,000 for deals over $1,000,000 applies if you do not close, except if title shows less than 90% ownership and either buyer or seller terminates the agreement or if the seller breaches the contract.

IV. Escrow and Closing

10. Escrow: Texas Royalty Brokers will hold the fully executed mineral deed from the seller until payments are made as a form of escrow. Any other escrow method must be mutually agreed upon and at your expense.
11. Closing:

• • Mineral Deed: You provide the mineral deed for the seller to sign and notarized.
  • Owner Signature: The seller returns the executed deed to Texas Royalty Brokers, and we provide a scanned copy to you.
  • Wire Transfers: Payments are made via wire transfer, 94% to the seller and 6% to Texas Royalty Brokers. We hold the deed until both payments are confirmed.
  • Overnight Deed: Once payments are confirmed, we will send the mineral deed via overnight shipping within 2 business days. You may digitally record the deed if the county allows.