Here are our standard terms and conditions for payment of fees. Our fees will be discussed at the time of the valuation.
You will be liable to pay commission to us, in addition to any costs or charges agreed if, at any time, unconditional contracts for the sale of the Property are exchanged with a Buyer that has:
a) been introduced by us and viewed the Property with us during the period of our sole agency; or
b) been introduced by another agent during our sole agency period.
The sole agency period will be for an initial period as stated on page two of this agreement and will continue until either party gives to the other 14 days’ notice in writing. Any notice may be served during the period of the sole agency to expire at the end of the agreed period or may be served at any time after the agreed period has come to an end.
The initial period of the sole agency will commence from:
- the first day that marketing is allowed under the Regulations for the provision of an Energy Performance Certificate; and
- where the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (“the Cancellation Regulations”) apply, from the first day after the expiry of the cancellation period or from the date you request us in writing to begin marketing the Property under this Agreement.
There may be a situation where you are liable to pay two fees including VAT together with any agreed costs and expenses:
- If you sell the Property at a later date to a potential buyer who was introduced by us and who viewed the Property with us during the term of this sole agency period
- If you have given us sole agency and instruct another agent during the term of this sole agency period
- If a Buyer, who was introduced by us and who viewed the Property with us during our period of sole agency, purchases through another estate agency
We will not have the right to be paid commission provided that the other agent introduced the buyer (who had viewed the Property with us) six months or more from the date that we were dis-instructed.
Our fee for sole agency is as specified on page two of this agreement. If you do instruct another agent during this sole agency period (with or without informing us) the fee payable by you to us will be the rate payable for multiple agency in place of the sole agency rate specified on page two of this agreement.
In the case of two or more other agents marketing the property at the same time as us, our commission will be at the rate stated on page two of this agreement.
You will be liable to pay commission to us, in addition to any costs or charges agreed, if at any time, unconditional contracts for the sale of the Property are exchanged with a Buyer who was introduced by us and who viewed the Property with us during the period of our multiple agency.
Our agency will continue until the Property is sold or fourteen days after a written notice terminating the agency is given by either party to the other in writing.
Please note if the contract selling price is higher or lower than the price at which the Property is marketed then our commission will be correspondingly higher or lower.
4. Payment of Fees
Our fees are on a no sale – no fee basis and become payable upon exchange of contracts. Provided that your solicitor has received clear and irrevocable instruction from yourself to proceed with the payment of our fees, we will agree to delay the collection of this payment until completion. Please note that fees remained unpaid for longer than fourteen days after completion of the sale will cause an additional interest charge to become applicable. This interest charge will be calculated at 3.5% above the basic annual rate applied by National Westminster Bank and will be applied to the period starting from the date on which our fees became payable up to the day on which full payment of our fees has been received.
If the Property is part-exchanged with other premises, our fees will be calculated on the full market value of the Property with vacant possession on the day that the exchange takes place.