Confirmation of instructions agreement (in accordance with the Estate Agents Act 1979 and the Estate Agents (provision of Information Regulations 1991)
Terms and Conditions of Business IMPORTANT NOTICE This is a legal document. Please take time to read it carefully and ask questions relating to the terms and conditions below before signing.
This is a Sole Selling Rights Agreement between Bespoke Lettings Sales & Property Management Ltd. (The ‘agent’) and
For the sale of
The property will be marketed at an initial asking price of (The asking price is not a valuation but a figure for marketing purposes)
Energy Performance Certificate (EPC) it is a statutory requirement that an EPC is commissioned before a property is offered on the open market. If for any reason the EPC is not available within 7 days of receiving an instruction then marketing will be suspended.
Agency Fees A flat fee of £749.00 inc VAT will be charged at which contracts are exchanged (including any part if the price attributable to contents (such as curtains, carpets and any other fixtures and chattels where their sale is agreed by the agent).
Period of Agreement We require a minimum of 14 weeks agency period to commence from the first day of marketing and to continue after the minimum period until cancelled in writing by either party in accordance with the termination of agency clause below.
Termination of agency Either party can terminate this agreement by given fourteen days’ notice to the other in writing. The fourteen days’ notice can may be given at any time to terminate this agreement at the end of or after the last day of the minimum period. The client agrees that all fees will be paid within fourteen days of the date when they fall due for payment.
The Agents’ Charges The flat fee that the client pays is based on the total value of the transaction including the price of the fixtures and fittings. The amount charged will be either the flat fee or the specified amount shown, subject to any minimum fee detailed above.
Withdrawal Charges In the event of the property being withdrawn without a ready, willing and able purchaser being introduced then we agree to make no charge.
Ready, Willing and Able Purchaser A purchaser is a ready, willing and able purchaser if he is prepared and able to exchange unconditional contracts for the purchase of your property. You will be liable to pay commission to the Agent, in addition to any other costs or charges agreed, if such a purchaser is introduced by the Agent in accordance with your instructions and this must be paid even if you subsequently withdraw and unconditional contracts for sale are not exchanged, irrespective of your reasons.
Additional Charges The Agent may recommend additional marketing activity for the clients’ property and will make a separate charge for this. The agent will not commit to additional marketing without asking and agreeing such costs with the client first in writing. The client will be sent a separate invoice for any extra charges. The client must pay the invoice in full within 10 working days of the date stated (or within fourteen days of withdrawal of the property from the market, whichever is earlier). Unless stated otherwise, the client must pay VAT (currently 20%) on all charges.
Settlement of fee’s (a) Fees Payable for Sole Sale Rights The Flat Fee is payable as a result of the circumstances outlined herein. Fees become due at exchange of contracts (or if there is no contract) upon completion of sale. (b) Responsibility of fees The responsibility for the payment of these fees remain with the client named herein. The agent will submit his account to the client’s
Solicitors/ licensed conveyancer who should settle the payment no later than three working days after completion or 28 days after exchange of contracts on the property, whichever is sooner.
If the account remains unpaid within 10 working days after the payment date the Agent reserves
the right to charge daily interest on the outstanding balance at an annual rate of interest 3% above Barclays Bank base rate from the due payment date until payment is received in full.
Sole Selling Rights The client will be liable to pay remuneration to the agent, in addition to any other costs or charges agreed, in each of the following circumstances. If unconditional contracts for the sale of the property are exchanged in the period during which the Agent has sole selling rights even if the purchaser was not found by the agent but by another agent or by any other person, including the client. ii) If a purchaser first introduced by the Agent during this agreement goes on to buy the property within six months of the date of this agreement ended.
Double Commission Warning the client is liable has instructed another agent on a Sole Agency / Joint Sole Agency or Sole selling rights basis the client must check, Whether by instructing this agent as well, the client will be liable to pay both estate agents’ fees.
Joint Agency Terms The client will not appoint a joint selling Agent without the written consent of the Agent. In the event of a joint Agent being appointed the Flat fee would be increased by 50%. The Flat Fee would be payable to the successful selling Agent who would pay an agreed amount to the non-selling Agent.
For Sale Boards The Agent accepts liability for any claim arising under the property to assist in the marketing of the property. Any such board will comply with the Town and Country planning (control of Advertisements) Regulations 1992 as amended. The client consents that the Agent may erect a For Sale board at the property Yes No (please circle)
The Agent accepts liability for any claim arising under these Regulations in connection with the board, unless the action arises as a result of a result of a further board being erected by another agent. The For Sale board will remain at the property of the Agent.
Offers The Agent will, promptly forward details in writing of all offers received from potential purchasers at any time up until contracts have been exchanged, unless the offer is of an amount or type which the client has specifically instructed the Agents, in writing, not to pass on. A written or computerised record of all offers received will be kept (including the date and time such offers the Agent received and the client’s response). This record will be available to the client on request. In turn, the client must promptly inform the Agent of all enquires or discussions which the client may have with any prospective purchaser introduced by this agent that are not made with the knowledge of the Agent.
Access to Premises If the Agent holds the keys to the property, the Agent must accompany any viewings of the property, unless the Agent and the client agree otherwise in writing. If the Agent is arranging for someone to view an occupied property, the Agent must agree arrangements with the occupier beforehand. It is the Agent’s usual practice to release the keys to certain professionals who require access, such as surveyors acting on behalf of the purchasers. In order to avoid delaying the sale, once the Agent has established their identity, they are permitted to inspect the property unaccompanied. Please advise the Agent immediately if the is NOT acceptable to the client. The Agent will continue to seek the client’s permission to allow unaccompanied visits by any other third parties such as trades people or representatives of any utility companies.
Extra Services By law, the Agent must tell the client if the Agent or any connected person intends to earn any commission from offering the client or a buyer other services. If the Agent or any connected erson earns money from any of these services the Agent or connected person would keep this commission. The following services will be offered by the Agent or connected persons: Mortgage advice, Estate agency service and a conveyancing service.
Personal Interest By law, the Agent must declare whether there is a personal interest in the sale of the property. To assist the Agent to fulfill this obligation the client is asked to indicate any personal association with the agent of which the client is aware. If the client is, or thinks they may be, a close relative or friend or have any business interests with anyone involved
with the agent, the client should let the agent know immediately.
The Property Details The property details has prepared after the agent’s visit are attached to this agreement if the details are not attached, they will follow shortly. Under the consumer protection of unfair trading regulations 2008, anything the Agent says or publishes about the property, as the client’s estate agent must not be false or misleading. It is very important that the client reads these details carefully and immediately informs the Agent if there is anything that the client thinks the Agent should have included or that is inaccurate. Please remember that the client cannot say anything about the client’s property that the Agent cannot prove. For example, the Agent should not say the property has cavity-wall insulation if there are no guarantees or invoices to show that the work was done.
Discrimination The Agent will not discriminate against any person under the definitions of The Sex Discrimination Act 1975, The Race Relations Act 1976 or the Equality Act 2006. The Agent will not discriminate, or threaten to discriminate against any prospective Buyer of the clients property because that person is, will not be, or is unlikely to be accepting services that the Agent will directly or indirectly provide.
Data Protection The Agent is registered under the Data Protection Act 1998.
Money Laundering Under the Money Laundering Regulations 2007 the Agent is legally obliged to undertake customer due diligence and is required to hold on file two forms of identification for the legal owner/s. The client understands that the Agent will undertake a search with Experian to verify the client’s identity. To do so Experian may check the details the client has supplied any particulars on any database (public or otherwise) to which they have access. They may use the client’s details in the future to assist other companies for verification purposes. A record search will be retained.
The Property Ombudsman The agent is a member of the TPOS (The Property Ombudsman Scheme) and follows the TPOS Code of Practice. The Client agrees that the Agentmay give information about the sale to the client’s property to the Ombudsman, if the client has registered a complaint and they ask for that information. The client also agrees that the Agent may give the Client’s contact details to TPOS (if they ask for it) to help them monitor how the Agent is following the code of practice. A copy of the Code of Practice and the Customer Guide is available from www.tpos.co.uk
Signatures Before signing this agreement you should ensure that you have read the terms of this agreement and asked for clarification of any issue that is not understood.
The client acknowledges that by appointing the Agent the client is contracting on behalf of the client and all owners of the property.
When you instruct Bespoke Sales Lettings and Property Management you are contracting on behalf of all owners of the property.