Sales Terms & Conditions
In accordance with the Estate Agents Act 1979 and the Estate Agents (Provision of Information) Regulations 1992, we are obliged to provide you with the following information
Clients: In this agreement 'Client' or 'you' means the owner or joint owners of the property.
Commission: Means the agreed percentage of the total sale price of the property.
Upon the agreed agency, we shall enter into all negotiations for sale of the property on your behalf on a ‘Subject to Contract’ basis. The agency may be terminated by either party given 4 weeks’ notice in writing by either party.
Engel & Völkers will act as agents in the sale of the property for the period set out in the Confirmation of Instruction and thereafter until Engel & Völkers instructions are terminated by either party in accordance with Clause 1.
If the client has already established contact with a prospective purchaser for the property then the Client will provide details of the prospective purchaser to Engel & Völkers prior to this agreement coming into force. This prospective purchaser is listed as an ‘excluded party’. Any subsequent sale to excluded parties will not attract fees unless the client has asked Engel & Völkers to become involved with the sale to the excluded party.
If the client, instructs another agent before or after entering into this agreement, a double liability for fees could arise. In particular if the Client i) has previously instructed another agent to sell the same property on a sole or joint sole agency or a sole selling rights basis or ii) instructs another agent during or after the period of Engel & Völkers’ sole agency, sole selling rights or joint sole agency. Subject to these terms and conditions, Engel & Völkers Commission and expenses will be charged even if a liability to another agent arises.
3) Types of Agency
The beneficial owner of the property (client) will be liable to pay Commission to Engel & Völkers in the following situations.
- A) Sole Selling Rights/ Sole Agency
Engel & Völkers is appointed as sole agents for the initial period of 4 weeks from the date of this agreement.
During the period of this sole agency agreement your property remains with us for sale excluding all other estate agents. If during the period of Engel & Völkers’ sole agency you instruct another agent (with or without our knowledge) the fee payable by you will be 3% plus VAT, in place of the sole agency rate specified in the confirmation of terms and conditions.
You will be liable to pay remuneration to Engel & Völkers, in addition to any other costs or charges agreed, if at any time (or within six months of termination by you of the Engel & Völkers sole agency if a subsequent agent is instructed) unconditional contracts for the sale of the property are exchanged:
- With a purchaser introduced by Engel & Völkers during the period of its sole agency or with whom Engel & Völkers had negotiations about the property during that period, or
- With a purchaser introduced by another agent during the period of Engel & Völkers’ sole agency
After the initial period, the sole agency agreement will continue until either you or we bring it to an end giving 4 weeks’ written notice. Notice can be given within the initial period to expire at the end of the initial period
- B) Multiple Agency
Should Engel & Völkers be instructed with one or more agents on a multiple agency basis to market your property until such time as it is sold or until either you or we terminate the agreement with 4 weeks’ notice, you will be liable to pay remuneration to us, in addition to any other costs or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with a purchaser introduced by us; or with a purchaser to whose attention we brought the availability of the property. A multiple agency instruction can be terminated at any time by either party by giving 4 weeks’ notice in writing.
Ready Willing and Able Purchaser
A purchaser is ready, willing and able if he/she is prepared and is able to exchange unconditional contracts for the purchase of your property. You will be liable to pay commission to us, in addition to any extra costs or charges agreed, if such 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. In these circumstances Engel & Völkers will charge 20% of the Commission that would otherwise have been due had the sale completed. If Engel & Völkers subsequently sell the same property on behalf of the Client, this charge will be credited against the Commission payable by the Client on the completed sale.
A purchaser may be introduced either directly or indirectly as a result of our activities. Whilst you may cancel instructions by giving us 4 weeks’ notice in writing, we shall remain entitled to our full commission where an eventual sale results from our previous activities or introductions during the period of our agency or any period whilst we are under notice.
We reserve the right to instruct a selection of sub-agents, as well as notifying a number of recognised relocation agents, on your behalf where we consider such a step to be in your best interest. This will involve you in no extra cost and all viewings and negotiations will be co-ordinated solely through us unless agreed separately i.e. when a lower sole agency fee has been agreed.
Our Commission will be calculated as a percentage of the sale price achieved for the property, In addition to any extra costs or charges agreed (where their sale is agreed by Engel & Völkers). Commission is payable at the rate set out in the Confirmation of Instruction. All Commission payments are subject to VAT at the prevailing rate.
7) Method of Payment
a) All Engel & Völkers’ fees, in addition to any other costs or charges agreed, become payable upon exchange of contracts. The time by which these sums shall be paid will be on completion of the sale by the representing solicitor of the beneficial owner (client) or, if the sale does not complete within 14 days of the date of exchange, within 7 days of the
date of a notice in writing requiring payment of any outstanding sums (‘Payment Date’).
b) If payment is not made by the Payment Date, we reserve the right to charge interest at 6 per cent over the then prevailing rate of The Bank of England. If we should find it necessary to instruct solicitors or other parties to recover the monies due, you will be required to pay all reasonable costs and disbursements incurred.
8) Private Buyer
Once you have entered into an agency agreement, any private approach or offer must be notified to us forthwith and, where applicable, of the full sale fee and these terms of business will apply unless a special arrangement is agreed in writing at the time of our instruction.
9) Costs and Expenses
The Client will only be responsible for any pre-agreed costs and expenses such as advertising, brochures and professional photography, which are pre-agreed and confirmed to the Client by Engel & Völkers in writing The expenses will be payable by the Client within seven days of Engel & Völkers invoice in respect thereof which may be submitted by Engel & Völkers prior to such costs and expenses being incurred by Engel & Völkers and are not dependant on the sale of the property.
10) For Sale Boards
Subject to your agreement, our ‘For Sale’ board will be erected outside the property. The planning regulations governing this form of advertising permit only one sign to be erected at each property and if any agents’ boards remain at the property, these will need to be removed.
11) Sales Particulars
The Property Misdescriptions Act 1991 makes it a criminal offence to give false or misleading information about the property or matters relating to its disposal. Draft sales particulars will be sent to you for your approval and your assistance is essential to ensure that any information we provide is factually accurate in every respect. If you are in any doubt about any information relating to title, land charges, covenants, planning or other legal matters, you should inform us immediately. We strongly recommend such issues should be referred to your solicitors; in any event, if you have not already done so, it would be helpful if you would let us have your solicitors’ name and address.
12) Energy Performance Certificate (EPCs)
It is a legal requirement to have commissioned an EPC before marketing can commence on your property. Engel & Völkers can arrange this for you at a cost £118.80 incl. VAT.
13) Personal Interest
Under the Estate Agents Act 1979, we are required to disclose to prospective purchasers any family relationship or business association between the vendor and any employee or Partner/Director of Engel & Völkers. Where we are aware of such a declarable interest, the relevant disclosure will be made up in all sales and marketing particulars. To help Engel & Völkers comply with its obligations, please notify us as soon as possible with full details if you are, or become aware of, any such relationship.
14) Services to Prospective Purchasers
We may offer the following services to prospective purchasers and similarly, the services may be offered to them by another organisation in circumstances where we may financially benefit i) Valuation/survey and estate agency services; ii) Provision of financial services, including mortgages.
15) Unoccupied Premises
Engel & Völkers accept no liability or responsibility for the maintenance or repair of, or any damage to, the property at any time. If the property is vacant when adverse weather conditions are likely, frost damage may occur to water and heating systems and sanitary appliances. Our clients are strongly recommended to take all necessary action to protect their property from such risks and they ensure that they have adequate insurance cover.
16) Anti- Money Laundering regulations
Engel & Völkers are subject to the Money Laundering Regulations 2007. As a result we will need to ask you for suitable identification and will be unable to proceed with any work on your behalf if we are unable to obtain this from you.
17) Disclosure of Information
Engel & Völkers complies with the data protection laws in the United Kingdom and takes all reasonable care to prevent any unauthorised access to or use of your personal data. Engel & Völkers employees and those working for our approved agents or contractors have a responsibility to keep your information confidential and will only use it to offer products and services on behalf of Engel & Völkers.
The personal details that Engel & Völkers use to provide or promote our products and services (for example your name, telephone number or details of any services that you use) as well as any information taken from you during the course of our dealings with you, will NOT be passed to any organisation beyond Engel & Völkers International GmbH to be used for marketing purposes.
18) Termination of Instruction
Engel & Völkers contract will continue for the period specified in the Confirmation of Instruction. Thereafter if no such period is specified
a. the Client has the right to terminate Engel & Völkers’ instructions at any time by giving not less than 4 weeks’ notice in writing.
b. Engel & Völkers may terminate the contract by giving the client not less than 4 weeks’ notice in writing.
Please contact us on email@example.com for any complaints you would like to address and we will follow our formal procedure to deal with it. Details of this procedure are available from Leo Comer at firstname.lastname@example.org. As a member of the Property Ombudsman Services a resolution is provided any consumer complaints that are not satisfactorily resolved between the parties and will be referred to the independent Ombudsman.
The Ombudsman Services Property website is: http://www.ombudsman-services.org/property.html