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1.
Commencement:
We will commence working on your behalf as soon as you have signed
and returned these Conditions of Business and the registration fee
referred to below has been paid in full.
2.
Service:
We undertake upon acceptance of your instructions to work with you
to find a suitable property for you to purchase or rent, as described
overleaf or discussed with us.
3.
Fees:
We will be expending considerable time and effort on your behalf
to find a suitable property for you.
Purchase:
The initial retention fee £500 (inclusive of VAT) is subsequently
deductible from the Success Fee.
Our Success Fee: Our fees amount to the greater of either 1.5% of
the purchase price or 15% of the negotiated saving between the documented
asking price and the final purchase price, for any property you
exchange contracts to purchase an interest in,
Rental:
The initial retention fee £300 (inclusive of VAT) or one months
rental in respect of any property you agree to rent, payable on
completion.
For the purposes or our agreement, we shall be deemed to have introduced
a property to you, if you have either received the particulars of
a property from ourselves directly or indirectly, or from any of
the firms of estate agents with whom we have regular contact, or
through agents or individuals whom you have instructed us to negotiate
with on your behalf.
VAT is inclusive unless stated otherwise.
For the purposes of this agreement you will be deemed to have exchanged
contracts to purchase a property if:-
(a) you or any close relation, or any person with the aid of any
funds provided by any of such persons, acquires or agrees to acquire,
or any body corporate or trust in which any of those persons has
an interest (directly or indirectly) acquires or agrees to acquire,
any legal or beneficial or other interest in any freehold or leasehold
property, or agrees to occupy a property;
(b) a third party acquires or agrees to acquire any legal or beneficial
or other interest in any freehold or leasehold property, or agrees
to occupy a property and, within one year you occupy that property
either together with or independently or that third party (including
temporary occupation for holidays or weekends).
4. Duration:
This agreement shall subsist for an initial period of six months
and shall continue thereafter for a further period of one year unless
and until terminated prior to the expiry of that period of one year
by one months notice given by either party to the other.
We reserve the right to charge a further Retention Fee if this agreement
continues beyond the initial period of six months, but if we do
so then the fee payable on exchange of contracts under paragraph
3 above will be reduced by the amount of any additional retention
fee paid.
5.
Charges on Termination:
Upon termination or expiry of this agreement, if you have not purchased
or rented or agreed to purchase or rent a property, we shall be
entitled to charge you for all reasonable expenses and disbursements
(including for the time of our personnel at our rates from time
to time, details of which are available on request) incurred by
us in providing services to you up until the date of termination.
Any sum charged pursuant to this paragraph shall be deducted from
any further payments you make to us on exchange of contracts under
paragraph 3 above.
6.
Payment:
Payment of fees (other than the Retention Fees) shall be made in
full on completion of contracts for the purchaser or rental of a
property.
We reserve the right to charge interest on any sums not paid on
the due date at a rate of 4% per annum above base rate.
7.
Liability:
Details of properties, valuations, reports and other information
provided by us are prepared in good faith and are solely for your
guidance, they do not form any part of any contract relating to
the purchase or letting of any property.
All purchasers and/ or tenants must satisfy themselves as to the
correctness and accuracy or any details provided by us and none
of our officers or agents or employees have any authority to make
any representations or statements in relation to any property and/or
the service provided by us.
In addition, we do not accept liability for the views of or contents
of any report prepared by any third party in relation to any property.
We strongly recommend all prospective purchasers and/or tenants
take appropriate legal and other advice and to use the services
of solicitors, surveyors, valuers and other specialists. The service
provided by us is not intended as a substitute to obtaining such
advice and accordingly no liability is accepted for any defects
in legal title or in the fabric and structure of any property.
We will, when possible, communicate with you by email and you agree
to this.
8. General:
The supply of the services by us is subject to the terms and conditions
set out in this agreement and, unless otherwise expressly agreed
in writing by us, these conditions shal prevail over any other terms
and conditions and shall comprise the whole agreement between you
and us.
No relaxation of delay or indulgence by us in exercising rights
or enforcing any of these terms and conditions or the granting of
time by us for remedy or any breach shall operate as a waiver of
any subsequent or continuing breach.
If at any time any of these conditions are found to be unreasonable,
invalid or unlawful then the validity of the remaining conditions
or parts therefore shall not in any way be affected or impaired
and shall be in force as if the unreasonable, invalid or unlawful
part had not been included.
For the avoidance of doubt, nothing in this Agreement shall confer
on any third party any benefit or the right to enforce any term
of this Agreement.
This Agreement is governed by the laws of England and Wales, and
you agree to submit to the exclusive jurisdiction of the courts
of England and Wales.
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