C
CookieJar
New Member
Hi All
First time selling a property and just wanted to check if the below terms seem reasonable or what do people feel would be reasonable level to negotiate to ?
Just pasted the ones that I think matter replacing agency name with X;
" SOLE SELLING RIGHTS: X have sole selling rights for a period of 12 weeks from the date of this agreement. The agreement will continue after this period unless terminated by either party giving written notice of 28 days. During this period you will not instruct any other agent to sell the property. In the event of an abortive sale our agreement will remain in force for an additional 4 weeks.
TERMS OF BUSINESS: You will be liable to pay remuneration to X, in addition to any other costs or charges agreed, in each of the following circumstances: If unconditional contracts for sale of the property are exchanged in the period during which we have sole selling rights, even if the purchaser was not found by X but by another agent or by any other person, including yourself. If unconditional contracts for the sale of the property are exchanged within 6 months with a buyer that was originally introduced during the period which X had sole selling rights.
COMMISSION: X commission is calculated at X% of the eventual sale contract price of the property. All charges are subject to VAT at the prevailing rate. (i) A charge of £95.00 plus VAT will be made for the provision of the Energy Performance Certificate (EPC). (ii) Our charges include advertising and promotional costs, other than any other agreed costs agreed separately between X and you in writing.
PAYMENT: Our commission, and any other agreed costs, are due for payment on exchange of contracts. You give your authority to the solicitor appointed at the time of the sale to pay out of the proceeds of the sale the agreed charges, plus VAT, in accordance with the conditions agreed herein. Interest may be charged if the account remains unpaid for more than 10 days after the completion of the sale.
OTHER SERVICES: X may offer prospective purchasers mortgage and conveyancing services through various financial and legal advisers. Where prospective purchasers have a property to sell, X may also offer them estate agency services. Fees or commission may be received. X confirm that we will forward to you promptly and accurately all offers received from prospective purchasers and will not in any way discriminate between purchasers because one or another has agreed to take any of these services."
Is this what people normally expect to see ? anything missing I should ask for ? or negotiate down ?
Additionally does the below means if we terminate with them and move to another agency who sell the property within 4 months the original agent still gets their fee even though they didn't introduce the buyer but the new one did ?
'If unconditional contracts for the sale of the property are exchanged within 6 months with a buyer that was originally introduced during the period which X had sole selling rights.'
Many Thanks in Advance Any Advice Appreciated
First time selling a property and just wanted to check if the below terms seem reasonable or what do people feel would be reasonable level to negotiate to ?
Just pasted the ones that I think matter replacing agency name with X;
" SOLE SELLING RIGHTS: X have sole selling rights for a period of 12 weeks from the date of this agreement. The agreement will continue after this period unless terminated by either party giving written notice of 28 days. During this period you will not instruct any other agent to sell the property. In the event of an abortive sale our agreement will remain in force for an additional 4 weeks.
TERMS OF BUSINESS: You will be liable to pay remuneration to X, in addition to any other costs or charges agreed, in each of the following circumstances: If unconditional contracts for sale of the property are exchanged in the period during which we have sole selling rights, even if the purchaser was not found by X but by another agent or by any other person, including yourself. If unconditional contracts for the sale of the property are exchanged within 6 months with a buyer that was originally introduced during the period which X had sole selling rights.
COMMISSION: X commission is calculated at X% of the eventual sale contract price of the property. All charges are subject to VAT at the prevailing rate. (i) A charge of £95.00 plus VAT will be made for the provision of the Energy Performance Certificate (EPC). (ii) Our charges include advertising and promotional costs, other than any other agreed costs agreed separately between X and you in writing.
PAYMENT: Our commission, and any other agreed costs, are due for payment on exchange of contracts. You give your authority to the solicitor appointed at the time of the sale to pay out of the proceeds of the sale the agreed charges, plus VAT, in accordance with the conditions agreed herein. Interest may be charged if the account remains unpaid for more than 10 days after the completion of the sale.
OTHER SERVICES: X may offer prospective purchasers mortgage and conveyancing services through various financial and legal advisers. Where prospective purchasers have a property to sell, X may also offer them estate agency services. Fees or commission may be received. X confirm that we will forward to you promptly and accurately all offers received from prospective purchasers and will not in any way discriminate between purchasers because one or another has agreed to take any of these services."
Is this what people normally expect to see ? anything missing I should ask for ? or negotiate down ?
Additionally does the below means if we terminate with them and move to another agency who sell the property within 4 months the original agent still gets their fee even though they didn't introduce the buyer but the new one did ?
'If unconditional contracts for the sale of the property are exchanged within 6 months with a buyer that was originally introduced during the period which X had sole selling rights.'
Many Thanks in Advance Any Advice Appreciated
