TERMS AND CONDITIONS OF HILLS RESIDENTIAL & HILLS AGENCY AGREEMENT
1. Entitlement to commission
The Commission Fee is the amount set out in the Agency Agreement. The commission fee is payable under the circumstances set out in clause 2 and/or clause 3 below The Commission Fee will be payable whether the introduction is a direct introduction or an indirect introduction (where the buyer makes the purchase as a result of becoming aware that the property was for sale through the marketing of the property by the agent) and whether or not the buyer makes the offer to purchase through another agent or through any other person. Another agent is someone involved in estate agency work or someone who in the course of the business introduces a buyer to the property but has no further involvement. The agent’s contractual responsibility is confined to marketing the property and the other obligations set out in this agreement, any further assistance in relation to the purchase is entirely at the agent’s discretion. In the event of a part exchange, any commission fee is calculated by a percentage rate will be calculated on the full selling price of the property The commission fee calculated by a percentage is calculated on the price of the property, including any contents, carpets and fittings
2. Hills Residential Agency
The agent will be the agent for sale of the property during the agency period (the Hills Residential agency) The seller will be liable to pay the commission fee to the agent, 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 the Hills Residential Agency is in force, even if the buyer was not found by the agent but by another agent or by any person, including the seller; · If unconditional contracts for the sale of the property are exchanged after the expiry of the period during which the Hills Residential is in force but to a buyer who was introduced to the seller during that period or with whom the agent had negotiations about the property during that period.
However, the seller will not be liable to pay the commission fee in any of these circumstances if the unconditional contracts for the sale of the property are exchanged six months after the expiry of the period during which the Hills Residential agency is in force and where the seller has appointed another estate agent whose activities have resulted in the sale of the property or twenty four months after the expiry of the Hills Residential agency in all other circumstances
On expiry of the agency period, unless terminated by either side by a minimum of 14 days written notice expiring on the last day of the agency agreement, the agency shall continue as the Hills Residential Agency until either: – · It is terminated by either the seller or the agent by 14 days written notice; or · The seller by 14 days written notice to be served not earlier than the last day of the agency period converts the Hills Residential agency into a multiple agency, which multiple agency shall then continue on the terms set out in clause 8 of the agency agreement and in clause 3 below; or · The seller appoints another agent without giving any or any adequate notice, in which case the Hills Residential agency will continue to apply save that the multiple agency commission fee would be payable if a fee becomes due
Option 1 or 2
If the seller decided to pay upfront or spread the agency cost equally over 6 months’ then the maximum marketing term will be 18 months. On expiry of this term Hills Residential will have no obligation to the seller and there will be no monetary refund if the property fails to sell. Hills Residential reserves the right to terminate the agreement after this period with a minimum of 14 days written notice. Hills Residential further reserves the right to all marketing decisions and advertising within the terms set out in the agency period.
3. Multiple Agency
3.1 If this agreement is on a multiple agency basis or it becomes a multiple agency agreement following the conclusion of a Hills Residential agency the seller may from the commencement of the multiple agency appoint another estate agent or agents in addition to the agent.
3.2 The multiple agency period shall continue until terminated by either the seller or the agent giving the other party 14 days notice in writing expiring on or after the agency period, in which case it shall terminate on the last day of the notice period.
3.3 The seller will be liable to pay the commission fee to the agent, in addition to any other costs or charges agreed if at any time unconditional contracts are exchanged with a buyer introduced by the agent or whom the agent had negotiations about the property during the multiple agency period. However, the seller will not be liable to pay the commission fee in any of these circumstances if the unconditional contracts are exchanged for the sale of the property are exchanged six months after the expiry of the agents multiple agency period and where the seller has appointed another estate agent whose activities have resulted in the sale of the property, or twenty four months after the expiry or the agents multiple agency period in all other circumstances.
4. Dual fee Liability
If you (the seller) have previously instructed another agent to act for you, or if in the future you instruct another agent, you may become liable to pay the other agent a fee as well as any fee due to us under this agreement. You should therefore consult the terms of business of any agreement you have entered into with the other estate agent.
5. Payment of Commission Fee
5.1 The commission fee will become due on exchange on unconditional contracts for the sale of the property and payable on the earliest of completion or 60 days after exchange on contracts (“the due payment date”). The seller agrees that the agency may carry out a credit search on the seller at any time after payment of the commission fee has become due
5.2 The seller agrees to instruct and authorize its legal representative to give, no later than the exchange of unconditional contracts for the sale of the property an undertaking to the agent to pay from its client account the commission fee as set out in clause 5.1 above. The seller agrees that the agent may send its invoice direct to the seller’s legal representative. The seller may revoke his instruction pursuant to this clause if he considers that there are grounds to do so by writing to the agent stating the reasons.
5.3 The various prepayments/other charges itemized on the attached schedule (if applicable) are due and payable in accordance with the schedule irrespective of whether the commission fee is due.
6. Interest of Late Payments
If the commission fee or disbursements are not paid in full within 10 days of the due payment date or any alternative date agreed in writing with the agent interest will become payable on any outstanding sum or sums. The rate of interest will be 3% above the National Westminster Bank PLC base rate then in force.
7. Initial Marketing Price
The initial marketing price (otherwise referred to as the initial asking price) does not represent a formal valuation of the property. The initial marketing price may be varied upon the written instructions of the seller, but this shall not affect this agreement. The agent has discussed the initial marketing price with the seller but has not carried out a structural examination of the property and has assumed that there are no defects, third party rights, covenants or conditions affecting the property and that vacant possession will be given on completion. The initial marketing price has been set at a level agreed with the seller for marketing purposes and is not indicative of the best market price for the property. The seller acknowledges and agrees that the agent is under no obligation to disclose to the seller comparable pricing information, confidential information or marketing strategies relating to the other properties.
8. Energy Performance Certificate (EPC’s)
8.1 We will not begin marketing until a valid EPC has been ordered or has been made available and is in our possession
8.2 If you have an EPC that has been supplied to you by a third party, the terms of that supply must include the right for us or a third party employed by us to use the EPC in order to meet our legal obligation. In the event of any third party seeking damages from us or a third party employed by us on the grounds that our use of the PEC to meet legal obligations has infringed their rights, you will be liable for any costs and damages we and/or a third party employed by us incur. The cost of an EPC is £72 inclusive of VAT.
9. Sale via other Estate Agents/or privately
If the property is sold through another estate agent or privately the seller agrees to advise the agent promptly of the name and address of the selling agent (if applicable), the sale price, the date of exchange of contracts and the name and address of the purchaser.
10. Fixtures and Fittings
To comply with the requirements of the property mis-descriptions act 1991, all fixtures and fittings that are mentioned in the sales particulars will be deemed to be included in the sale unless otherwise specified in writing.
11. For Sale Board
The agent may erect a for sale board outside the property. Under current legislation only one board is permitted per property and the seller agrees not to allow the display of any other for sale board at the same time.
The seller agrees that the agent may mention the property and use the properties images (but not mention the sellers name or identity) in general advertising following the sale.
13. Other Services
The agent and/or companies associated to Hills Property Solutions/Hills Swinton may offer prospective purchasers services from which they will or may earn commission. These services include estate agency, arranging mortgages, conveyancing services, surveys, valuations and other property related services.
14. Unoccupied property
The agent is not ordinarily responsible for the security, maintenance or repair of the property save where the agent negligently fails to secure the property after an accompanied viewing. It is the seller’s responsibility to ensure the mains services are turned off, water and heating services professionally drained and the insurer notified.
15. Tenancy Agreement
In the event that the agent negotiates with, or directly or indirectly introduced, a tenant for the property during the period of this agreement, then the agent will be entitled to an introducers fee based on 10% of the total rent payable during the period of occupation by the tenant, plus VAT. This fee excludes any management services.
16. Sub Agent
The seller confirms that unless specifically instructed in writing to the contrary, the agent may appoint sub agents to assist the agent with the marketing of the property providing no additional cost to the seller.
17. Final Agreement
This contract, includes the schedule of prepayment/charges (together with any additional services agreement where the seller requires the agent to supply additional services) sets out the definitive terms and conditions of engagement between the agent and the seller and supersedes all previous written, oral or customary arrangements. Any change to the terms and conditions (e.g. a change of commission rate) must be specifically agreed in writing and signed by the parties.
Hills Residential and Hills are trading names of Hills Property Solutions Ltd. Registered in England No. 08016644
Hills Residential and Hills are trading name of Hills Swinton Limited. Registered in England No. 10112293
Hills Residential and Hills are trading names of Hills Lettings Limited. Registered in England No. 10051684