LUSCOMBE MAYE – STANDARD TERMS

Generally, for property sales, these will be our standard terms. Each sale is different of course and our standard terms may be varied by mutual agreement. The below is simply an example of our standard terms currently in use (1/3/2019).

These Terms Set Out The Legal Basis On Which We Agree To Work For You.  When You Accept These TERMS, It Will Create A Binding Agreement Between Us.  You Need To Read Them Carefully

1. Definitions See below
2. General We offer to provide You with a quality Estate Agency service in accordance with the Act these Terms and any accompanying letter signed by Us. We ask You to confirm our offer by accepting these Terms by returning one set signed. We are not able to accept instructions on any terms other than these without the express approval of a Partner in writing
3. Our Promises to You

• To advise You to the best of our ability and to a professional standard as to the appropriate price to seek for your Property and the marketing strategy which We think most appropriate for it
• To market your Property in accordance with that strategy
• To endeavour to achieve a sale of that Property
• To use our skill and experience in connection with such marketing and any decision to appoint a Sub-Agent
• With your consent to erect a For Sale Board outside the Property and maintain the same (if advised) during the course of our instructions
• To record all enquiries made in respect of Your Property and put all verbal and written offers to You
• To comply with the Data Protection Act 1998, now amended by the General Data Protection Regulation (GDPR) and not reveal any details about You to any third party without your consent
• To disclose to You if any party interested in the Property is a Connected Person
• To honour Your statutory rights which are not affected by these Terms

4. Your Promises to Us

• To appoint Us in accordance with these Terms
• To work with Us to achieve a sale of the Property
• To make the Property available at all reasonable times for the purpose of photographing, inspection and valuation
• To assist Us in presenting the Property in a reasonable condition for inspection
• To pay Us and irrevocably instruct your solicitors to pay Us in accordance with these terms
• To provide Us with correct information to enable us to comply with the Property Misdescriptions Act 1991 and notify us immediately if any fact subsequently becomes inaccurate or misleading
• To pay Us interest on fees in the event of delayed payment in accordance with these Terms
• Not to terminate this retainer for 20 weeks after acceptance in order to give Us a fair chance to achieve a sale
• Inform Us if You sell the Property and to whom within 3 months of termination of these Terms
• Inform Us if You receive direct any interest from any potential purchaser
• Instruct Your solicitor to prepare a Solicitors Pack anticipating a sale and to obtain copies of Your title deeds and plans and should We require furnish us with details as to restrictive covenants or boundaries relating to the Property
• To accurately disclose all fixtures and fittings included in the sale and to ensure that they can be sold with good title at the time of completion
• Provide Us with evidence of your identity in the form of a Passport and Utility Bill before We start work

5. The Appointment You appoint Us under these Terms to act for You in the sale of the Property in the capacity and at the fee contained in the accompanying letter
6. Our fee

6.1   You must pay Us when either:

• We introduce to You a Ready Willing and Able Purchaser even if You withdraw or having exchanged unconditional contracts that Purchaser fails to complete or
• If You have agreed with Us Sole Selling Rights or Joint Sole Selling Rights as defined by these Terms on exchange of unconditional contracts with a Purchaser whether or not arranged by Us or on a Multiple Agency basis

6.2   Payment will be on completion of the sale

• Interest is payable on our fee at our discretion at the statutory rate applicable to debts under the Late Payment of Commercial Debts (Interest) Act 1998 or at 4% above Lloyds Bank Plc base rate (whichever shall be the lower) if our account remains outstanding 7 days after legal completion for the sale of the Property

7. Termination

7.1   You have a 14-day “notice of right to cancel” period from the agreement date. If You wish Us to begin marketing during the “notice of right to cancel” period You will be required to pay Us £300 including VAT to cover all reasonable expenses incurred should you terminate our retainer

(Signed)

(Dated)

7.2  To enable Us to have a fair chance to earn our fee You promise Us that You will not terminate this retainer for 20 weeks after accepting these Terms

7.3   You may terminate our retainer on providing Us with 28 days prior notice in writing

7.4   All notices must be sent by first class post or e mail

7.5   If You terminate our retainer and nevertheless sell the Property within 3 months of termination You promise Us that You will provide Us with the name and address of that purchaser

7.6   If You terminate our retainer You will be required to pay Us £300 including V.A.T. to cover all reasonable expenses incurred

8. Complaints Because We are anxious to provide You with a professional quality service if You have any complaints in connection with the service We provide, We would ask that You raise it with your Named Agent but if You are not happy with that response We have an internal complaints procedure which starts by You writing a letter of complaint addressed to the Senior Partner at any of our offices. Luscombe Maye uses The Property Ombudsman for Estate Agency related complaints. Contact details are, Milford House, 43 – 55 Milford Street, Salisbury, Wiltshire SP1 2BP. www.tpos.co.uk 01722 333 306
9. Limitations to our Retainer You agree that We cannot be responsible for:
10. Delay caused by National/Lockout/Bank Holidays
11. Delay/failure to sell caused by some impediment in the legal title
12. A Purchaser failing to complete on the day of completion

10. Unoccupied Property You agree that We are not responsible for the maintenance or repair of your Property if it is unoccupied unless We expressly agree to do so in writing. You agree that it is Your decision to decide whether the main services of any unoccupied property should be turned off and water and heating systems professionally drained.
11. EPC You are responsible for the cost of producing an energy performance certificate unless the property is exempt. This amounts to £150 including V.A.T. should you wish Us to arrange this on your behalf. This cost is to be settled by You prior to us commencing marketing, or added to Your invoice upon an exchange of sale contract.

I CONFIRM I have read and understood and accept the above terms

(Signed)                                                                                                  (Dated) 

1. Definitions

Used in these terms:

We and Us = Luscombe Maye

You and Yours = The person named in the accompanying letter and that person only

Sole Selling Rights = You will be liable to pay remuneration to Us 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 We have sole selling rights, even if the Purchaser was not found by Us but by another agent or by any other person, including yourself
• if unconditional contracts for the sale of the Property are exchanged after the expiry of the period during which We have sole selling rights but to a Purchaser who was introduced to You during that period or with whom We had negotiations about the property during that period

Multiple Agency = You will appoint Us in competition with one or more other agents.  You will liable to pay Our fee in addition to the other costs or charges agreed at the Multiple Agency rate if at any time unconditional contracts for the sale of the Property are exchanged with a Purchaser introduced by Us whom We had negotiations about the Property

Joint Sole Selling Rights = You appoint Us or one or more Agents (the precise number of which We have to agree) in which case You will be liable to pay remuneration to the Agents appointed under a Joint Sole Selling Rights Agreement, in other words one or more of the Agents as agreed in addition to any additional costs or charges agreed if at any time unconditional contracts for the sale of the Property are exchanged with a Purchaser introduced by the Agents or with whom We had negotiations about the Property during the period of the Joint Sole Selling Rights; or with a Purchaser introduced by another Agent during that period and You confirmed to Us that as at the date of these Terms You have no prospective purchaser from any source who has expressed an interest in buying the Property

The Property Ombudsman for Estate Agency related complaints. Contact details are, Milford House, 43 – 55 Milford Street, Salisbury, Wiltshire SP1 2BP. www.tpos.co.uk  01722 333 306

Property = The Property referred to on the front page of these Terms

Ready, Willing and Able Purchaser = a purchaser who is “ready, willing and able” if he is prepared and is able to exchange unconditional contracts for the purchase of your Property.  You will be liable to pay remuneration to Us in addition to any other costs or charges as agreed if a Purchaser is introduced by Us in accordance with your instructions and this must be paid even if You subsequently withdraw and unconditional contracts for the sale are not exchanged irrespective of your reasons

The Act = means the Estate Agents Act 1979

Named Agent = means the person whose name appears on the accompanying letter

Connected Person = In relation to an Estate Agent, any of the following:

1. His employer or principle
2. Any employee or agent of his, or
3. Any associate of his or of any person mentioned and (a) or (b) above

Purchaser = A person to whom an interest in land is transferred or in whose favour it is created

Sub-Agent = An Estate Agent, whom We may appoint as Sub-Agent without reference to You where We consider it to be in a step in your best interest.  Such appointment will involve You in no extra cost and all negotiations will be co-ordinated through us

Term = A promise in this contract

Minimum Term = 20 weeks from the date of acceptance of these Terms

Additional Costs = The marketing and other preparatory costs including promotional costs, advertising brochures, photography set out in the covering letter which You accept by signing these Terms