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Terms & Conditions

1 THESE TERMS AND CONDITIONS
1.1 Must be read together with our Instruction Letter;
1.2 Are to be interpreted according with English law. If any of them shall not apply for any reason it shall not affect the validity of the others;
1.3 May be varied only by our agreement in writing.

2 AGENCY AGREEMENT
2.1 You instruct us to act as your agents in the sale of your property ('the property') until terminated by either of us on 14 days notice in writing (but subject to a period of 12 weeks in the case of termination of a sole agency
2.2 By instructing us to act, you:- (a) become our client and are personally liable to pay our commission agreed costs and charges; (b) warrant that you are able to give us instructions to act in the sale.

3 TYPE OF AGENCY
3.1 Our accompanying Instruction Letter will indicate the type of agency.

3.1.1 SOLE/JOINT AGENCY
3.1.1.1 Where a sole/joint sole agency is agreed:-
3.1.1.2 You will be liable to pay remuneration (commission) to us in addition to any other agreed costs or charges, if at any time unconditional contracts for the sale of the property are exchanged:-
with a purchaser introduced by us during the period of our sole/joint sole agency or with whom we had negotiations about the property during that period; or with a purchaser introduced by another agent during that period.

3.1.2 MULTIPLE AGENCY
3.1.2.1 Where you also instruct other agents or you retain the right to do so.
3.1.2.2 Commission will be charged at a higher rate than that applicable to a sole agency.
3.1.2.3 You will be liable to pay commission to us in addition to any other agreed costs or charges if at any time unconditional contracts for the sale of the property are exchanged with a purchaser introduced by us during the period of our agency or with whom we had negotiations about the property during that period.
3.2 Your attention is drawn to the provisions of Clause 7 which set out other circumstances in which you will be liable to pay commission to us.

4 INTRODUCTION
A purchaser may be introduced either directly or indirectly as a result of our activities. Whilst you or we may determine our agency as provided in Clause 2.1, we shall remain entitled to our commission where any eventual sale results from our previous activities or introductions during the period of our agency or any period of notice.

5 SUB-AGENTS
We reserve the right to instruct sub-agents on your behalf where we consider such a step to be in your best interest. This will involve you in no extra costs and all viewings and negotiations will be coordinated through us.

6 COMMISSION
Waterbridge Estates charges commission at 2.5% for sole and joint/sole agency and 3% for Multiple Agency. In exceptional circumstances we reserve the right to discount the rate for sole and joint/sole agency by negotiation.

7 PAYMENT
7.1.1 Where unconditional contracts for the sale of the property are exchanged our commission becomes payable upon exchange of contracts
7.1.2 Where conditional contracts for the sale of the property are exchanged our commission become payable upon such contracts becoming unconditional whether by satisfaction waiver or otherwise.
7.1.3 You agree to irrevocably instruct your solicitors to pay to us all sums properly due to us out of the completion monies (or in the circumstances mentioned in Clause 7.1.4 out of the deposit monies within 10 working days of the contracted completion date save where the deposit monies are held by them as stakeholders and are repayable to the purchaser) and to undertake to us no later than on the date of exchange that they will do so.
7.1.4 Where unconditional contracts for the sale of the property are exchanged but the purchase is not completed for any reason, our commission must be paid within 10 working days of the contracted completion date.
7.2 Where contracts for the sale of the property are exchanged conditionally but do not become unconditional as a result of any act or default on your part whereby the condition(s) are not satisfied you must pay to us our commission in full within 14 days of our invoicing you for it.
7.3 If the property is sold privately or let other than through us or withdrawn from the market you will pay to us a contribution of £500.00 plus V.A.T. towards out of pocket expenses within 14 days of our invoicing you for it. Should you subsequently reinstruct us on the sale of the property we would credit this against commission you become liable to pay to us.
7.4 If any payment due to us is not made within 10 days of the due date, we reserve the right to charge interest at three per cent above the base lending rate of National Westminster Bank Plc from time to time. If we should find it necessary to use solicitors or other parties to recover monies due, you will pay all costs and disbursements so incurred on an indemnity basis.

8 EXPENSES
If with your agreement we incur expenses on your behalf these expenses are payable (in addition to commission) regardless of whether or not a sale is transacted; they become payable within 7 days of us invoicing you for them.

9 SALES PARTICULARS
The Property Misdescription Act 1991 makes it a criminal offence to give false or misleading information about the property and matters relating to its disposal. Draft 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, the extent of the property, land charges, covenants, planning or other legal matters, you must tell us and we strongly recommend such issues should be referred to your solicitors.

10 PERSONAL INTEREST
Under the Estate Agents Act 1979, we are required to disclose to prospective purchasers any family relationship or business association between you and any of our employees or officers. Where we are aware of such a declarable interest, the relevant disclosure will be made in all sales and marketing particulars. If you are aware of any such relationship, you must notify us as soon as possible with full details.

11 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:-
(a) valuation/survey, estate agency and property management services.
(b) provision of financial services, including mortgages, insurance and pensions.

12 MAINTENANCE/REPAIR
We accept no liability or responsibility for the maintenance or repair of, or for any damage to, the property at any time.

 
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Contact Information
Waterbridge Estates Ltd.
Suite 3, 12 Portman Close
London W1H 6BR
 
Tel: +44(0) 207 487 1355
Fax: +44(0) 207 487 1356
Email: property@waterb.com
 
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