STANDARD TERMS OF ENGAGEMENT FREEHOLD SALE

Transcription

1 STANDARD TERMS OF ENGAGEMENT FREEHOLD SALE

2 PHOENIX & PARTNERS TERMS of ENGAGEMENT FREEHOLD SALE COMPANY NAME HERE 1.0 This document sets out information in relation to our company services in connection with the above property should you decide to instruct us on your behalf. You will pay a commission to Phoenix & Partners who (whether directly or indirectly) introduce, communicate or arrange a transaction at the property to any purchaser who enters into a contract to sell the property. The commission will be payable immediately on completion of the transaction. 2.0 FEE (i) Freehold Sale For a freehold sale our fee would be 1.5% of the freehold price achieved of the building/site, plus VAT at the rate applicable at the time.

3 2.1 Should the nature of the transaction be not covered by the fee basis as set out in these Terms of Engagement, then Phoenix & Partners reserve the right to forward a revised fee quote which would be based on similar remuneration. 2.2 VAT shall be payable where applicable, In addition to all amounts due by the client to Phoenix & Partners. 2.3 This is on the understanding that you grant Phoenix & Partners Sole Agency for an indefinite period from the date of your instruction to us to act on your behalf. These instructions may be terminated by either party at one month's notice. Under the Estate Agents Act 1979 we are obliged to define the meaning of Sole agency in this connection. 3.0 SOLE AGENCY You will be required to pay remuneration to us in addition to any other costs or charges agreed, if at any time unconditional contracts for the letting/sale of the property are exchanged - (i) with a party introduced by us during the period of our Sole agency or with whom we had negotiations about the property during that period; or (ii) with a party introduced by another agent during that period.

4 4.0 Except where otherwise stated, the fees set out are exclusive of marketing costs. The reimbursement of these costs will be charged in addition to the fees charged. 4.1 Remuneration will also become payable if a tenant has been introduced to the property during the period or the Agency contract prior to any termination and if such tenant shall enter into a binding contract to base the property before or after such termination. Where the instruction is withdrawn, an abortive fee may be charged, calculated on a quantum meruit basis VAT shall be payable where applicable, In addition to all amounts due by the client to Phoenix & Partners. 6.0 Under the Estates Agents Act 1979 we are required to notify parties of any personal interest in the property. Please would you notify us promptly and in writing, if you become aware of any personal interest in the property or any connected property by any member of Phoenix & Partners whether or not that person is involved in the letting of the property. 6.1 We are not aware that there is any personal interest (within the meaning of Section 21 of the Estate Agents Act 1979) between anyone in the employment of Phoenix & Partners, or any other connected person and yourselves, but if you are aware of, or become aware of' such interest you should notify Phoenix & Partners immediately.

5 SERVICES Phoenix & Partners also offers the following services if required: Agency Advice: Including acquisition, disposal, marketing and development. Investment Advice: Including funding and financing. Asset Management: Including professional work, rent reviews/renewals, facilities management, rent collection and landscaping services. Project Management: Including design for new build, refurbishment, alterations, extensions and fitting out works and encompassing advice on planning and other statutory requirements, City Grant advice and application. Building Surveying: Including condition surveys, planned maintenance programmes, approvals for alterations to leasehold properties, schedules of dilapidations, insurance claims management, fire certification, rebuilding valuations for insurance purposes.