Subject only to any Right to Cancel the Vendor may have, this Sole Selling Rights Agreement will continue for a minimum period of 6 months and thereafter month to month until terminated by either party on giving one month’s prior notice in writing. In the period during which we have sole selling rights you may NOT:
You will be liable to pay a Commission Fee to us, in addition to any other costs or charges agreed, in each of the following circumstances:
- if unconditional missives for the sale of the Property are concluded 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 the Vendor;
- if unconditional missives for the sale of the Property are concluded 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.
2. Client Liability
Even if you terminate this Agreement, we may be entitled to a Commission Fee if a formal offer is issued by a Solicitor acting for a purchaser that we have introduced, and that within 6 months of the date your instruction ended and where unconditional missives for the sale of the Property are concluded. This time limit extends to 2 years if no other estate agent is involved.
NOTE: You may be liable to pay more than one fee if:
- you have previously instructed another agent to sell the Property on a sole agency, joint sole agency or on a sole selling rights basis; OR
- you instruct another agent during or after the period of your sole agency, joint sole agency or on a sole selling rights basis.
3. Our Commission and Charges
The Commission Fee due to the Agent is calculated in accordance with the Confirmation of Sole Selling Rights Agreement. The amount charged will be a percentage rate, subject to any minimum amount detailed. Our commission is based on the total value of the transaction including the sale price and the price of fixtures and fittings (the “Total Value”). For the avoidance of doubt, the Total Value will include the value of any goods or property exchanged by the purchaser in satisfaction, whether in whole or in part, of the transaction.
4. VAT
VAT at the rate prevailing from time to time will be payable in addition to our Commission Fee and to any other costs and charges due and payable.
5. Termination or Withdrawal
A fee of £400 + VAT may be payable at the Agent’s sole discretion upon withdrawal of the Property from the market following expiry of 14 days from the day this Agreement is agreed.
6. Advertising
We shall carry out any advertising or marketing of the Property in addition to that covered by the Commission Fee and/or the Initial Advertising as is agreed with you, the cost of which will be payable by you whether or not we sell the Property. At regular intervals we will send you accounts for the marketing and advertising charges, which must be settled within 10 days in line with normal commercial practice, we will retain any discount received from suppliers.
7. Interest
If payment of our account or any costs, charges or other sums due by you in terms of this Agreement (including the fee on termination or withdrawal) is not paid in full within 7 days of the due date for payment , the Agent reserves the right to charge interest on the amount outstanding (inclusive of VAT) at 4% above Lloyds TSB base rate from time to time from the due date for payment until payment is received in full.
8. General terms
We fully observe the provisions of the Estate Agency Act 1979, the Property Misdescriptions Act 1991 and all other relevant legislation and regulations relating to estate agency services and governing residential estate agents in Scotland, but your attention is particularly drawn to the following points:- We, O’Malley Property Limited, may offer services to vendors and prospective purchasers from which commission may be earned. These services include estate agency, arranging mortgages, insurance, conveyancing services, surveying, chattel auctions, lettings and property management. We will treat all parties fairly and with courtesy and we will not discriminate against any person in any way contrary to the TPO Code or contrary to any law (including, in particular, the Sex Discrimination, Race Relations and Disability Discrimination Acts). We have your permission to put a “For Sale” board at the Property. Only one estate agent’s board is permitted in the period during which we have sole selling rights and you agree that you will not allow any other “For Sale” boards to be erected during this period.
9. Complaints Procedure
O’Malley Property Limited operates an in-house complaints procedure. If you have any concerns about the service provided by us you should put your complaint in writing addressed to John O’Malley, O’Malley Property, 6 Primrose Street, Alloa, FK10 1JG. If you are dissatisfied with the outcome of such procedure, then the matter can be referred to the Property Ombudsman.
