Land/Property sale: Sole selling rights agreement
We set out below the terms of business that are to apply to the appointment of Links Property UK to act as your agent with sole selling rights for the sale of ....................................................
In this agreement, the following expressions have the meaningsgiven here:
“We” and “Us” :Links Property UK
1.1 Sole Selling Rights You appoint us to act for the term as your sole agent with sole selling rights in respect of the land/property.
2. Responsibility and payment of fees and expenses
By signing this agreement you accept the terms set out in this document which are binding on you.
2.1 Sole Selling Rights
2.1.1 You will be liable to pay us fees in addition to any other charges or expenses agreed, in each of the following circumstances.
(a) the exchange during the period during which we have sole selling rights (the term) of an unconditional contract for the sale of the land/property or a conditional contract for the sale of the land/property becoming unconditional even if the buyer was not found by us but by another agent or any other person including you;
(b) the exchange after the end of the term of an unconditional contract for the sale of the property, or on a conditional contract becoming unconditional for the sale of the land/property, to a buyer who was:
(i) introduction to you by whatever source; or
(ii) with whom we had negotiation about the land/Property. During the period during which we had sole selling rights to the land/property.
2.2 Fees 2.2.1 The fee payable under paragraph 2.1.1 will be 1.5% of the sale price.
2.2.2 If, for any reason you decide to terminate our appointment once marketing has begun but prior to any bids being received, you will be required to pay all agreed expenses which we have incurred to that date together with a fee based on the time spent dealing with the sale at the rate of £120.00 per hour.
2.2.3 If, for any reason, you decide to terminate our appointment after bids have been received, you will be required to pay all agreed expenses which we have incurred to that date together with a fee based on 25% of the full fee based on the highest offer received.
3. Payment of accounts
3.1.1 In the case of an unconditional contract our fees become due and payable on exchanged on contracts.
3.1.2 For a conditional contract our fees become due and payable on the date the contract becomes unconditional. We may however at our discretion accept payment on completion.
3.2 If, for any reason, any of our bills remain unpaid 14 days after it is due to be paid, interest will automatically be charged at 3.1% above National Westminster Bank Plc base rate from the date when payment was due.
3.3. Fees payable under 2.2.2 or 2.2.3 are payable upon submission of our invoice.
3.4. Expenses are payable on submission of our invoice.
All fees, charges and expenses are expressed exclusive of VAT which is added to each invoice at the prevailing rate.
5. Marketing Expenses
Agency fees exclude all marketing expenses which are payable whether or not a sale takes place.
5.1 You are responsible for all agreed charges for marketing and other expenses. We will provide you with estimates separately and agree them with you before incurring any expenses.
6. Links Property UK corporate identity
The Links Property UK logo will appear on all marketing material, including brochures, site hoardings and price lists. The Links Property UK logo will also appear on all national, international and local advertising. The use of the Links Property UK name and logo must conform to our corporate standards of sizing, colour etc details of which are available on www.linkpropertyuk.com, unless varied by prior arrangement.
7. Related Services
You acknowledge that a buyer may instruct us with regard to a property-related service. These might include:
a) the sale or purchase of a separate property:
b) the rental and management of the property;
c) the provision of financial services through either a related organisation.
d) instances where services may be offered by a third party and we or an employee may benefit financially.
We will inform you of such an instruction and may refuse it if you reasonably object because of a conflict of interest with our duties under this agreement.
8. Termination of the appointment
8.1 Default by the client
We may terminate this agreement immediately if:
a) You have not remedied in all material respects a substantial breach of your duties after notice from us allowing you a reasonable time to do so, where at the time of our giving notice the breach is not serious enough to fall within paragraph 8.1(b);
b) You have committed breaches of your duties which are individually or cumulatively so serious that we may treat this agreement as repudiated by these breaches; or
c) You undergo an “event of insolvency”.
An “event of insolvency” includes: Inability to pay your debts. Entry into liquidation (compulsory or voluntary, except For the purpose of amalgamation or reconstruction). The passing of a resolution for winding up; A proposal to your creditors for composition in satisfaction of your debts or for a scheme of arrangement your affairs; and The appointment of a receiver or administrative receiver.
Any such termination does not prejudice the rights we have accrued while acting under this agreement.
9.1 it is a criminal offence for agents and developers to make inaccurate or misleading statement about property/land in sales material and non verbally. This includes making statements that might give the wrong impression about a property (e.g. its condition) and includes omitting facts (e.g. its condition, accessibility, noise from road traffic or other properties).
9.2 . You undertake:
9.2.1 to ensure that all details supplied to us for use are drafted correctly.
9.2.2. to have control procedures to ensure the information is correct.
9.2.3. to take particular care in the use of photographs and the preparation of artists’ impressions, models, plans and area calculations to ensure that there is no misdiscription or false impressions;
9.2.4. to notify us immediately of any changes to plans, areas and any other relevant issues concerning the Property/land; and
9.2.5. to submit all advertisements to appear under our logo for our priory approval
9.3. Where we are required to draw up details of the Property/land, we will submit draft particulars to you for your checking and approval.
10 Other Services
our role as your agent does not include or encompass property management or peripheral services such as purchaser ‘handovers’, ‘snagging’ or customer care issues, but we may be prepared to provide some or all of these services by separate agreement.
we do not accept liability for any indirect or consequential loss, such as loss of profits.
12. Acceptance We cannot proceed with the sale of the property/land until we have received as duly signed copy of these terms.
Read and Agreed
Please sign and print name and company position (if applicable)
After sending this form, your confirmation page will be a printable version of this form.
Please print out your Developers/Vendors Agency Agreement Form, fill in the fields and sign as appropiate and post to our head office
Links Property UK
Tyne & Wear
Any queries please ring 0191 415 7411
Links Property UK