SALE AGREEMENT (SOLE AGENCY CONTRACT)

PROPERTY ADDRESS

VENDOR’S NAME:

VENDOR’S ADDRESS: As Above

The 1979 Estate Agents Act dictates that Estate Agents must provide Vendors with information which states the amount due for services received, the method of payment required and duration of payment period acceptable.

The Vendor/s agree to appoint the agent under the following terms;

Sole Agency
Marina Quay Properties (MQP) are my/our only agents and are instructed to place my/our property on the market at an asking price of
£

Fees
I/We the vendor/s agree that as and when MQP find a purchaser who is ready, willing and able to proceed to exchange of contracts for the above property, I/We will become liable to pay remuneration to MQP in the sum of 1.50%+VAT of the agreed sale price (subject to a minimum fee of £1500.00) and will authorize my/our solicitor to pay the said fees and any other agreed costs and charges promptly and in full upon completion.

If such a purchaser is introduced by MQP in accordance with my/our instructions, I/we agree to pay the said fees even if I/we subsequently withdraw and unconditional contracts for sale are not exchanged, irrespective of my/our reasons.

I/We will be liable to pay remuneration to MQP if at any time unconditional contracts for the sale of the property are exchanged with a purchaser introduced by MQP during the period of our sole/joint agency or with whom they had negotiations about the property during that period; or with a purchaser introduced by any other agent during that period.

My/Our agreement with MQP will stay in force for a period of 4 months from receipt of this signed contract. If I/we decide to withdraw at the end of this period, I/we agree to give 2 week’s notice in writing.

I/We confirm that there is currently no other agent negotiating for the sale of my/our property. If I/we decide to change to Joint Agency Terms during this contracted period I/we agree that the commission rate will revert to 2%.

If, after termination of the contract, I/we sell the property to a purchaser who was introduced by MQP during the period of the contract, I/we agree to pay the fees in full.

The Agent, Marina Quay Properties will use the following marketing strategies;

(A) Provide a current market valuation and advise on any course of action required to maximise sale potential.

(B) MQP website advertising. Local Press advertising at our discretion. Place a poster in the property. Display window and wall spec. details in MQP office/s.

(C) Ensure that the sales particulars are not misleading and supply me/us with a draft copy for approval.

(D) Register on MQP mailing list. Provide vendor feedback re viewings (all accompanied) 

(E) We understand that the Agent is not responsible for forwarding mail, or maintenance of the property, or utilities readings, either during the sale process or following completion.

(F) In accordance with the 1979 Estate Agents Act, MQP will inform me/us of any business or family relationship which may be associated with the sale of my property.

Name of Agent’s employee……………………………………………………………………………………

Relationship or Association……………………………………………………………………………………

N.B.. Where a vendor wishes to utilise our Sole Agency Agreement while retaining private selling rights, MQP will apply a Standard Cost Cover fee of £500.00 to all such sale agreements which is payable to MQP if and when the vendor finds a private purchaser during the contract term before MQP finds a purchaser. Once this payment is made the contract shall be deemed to be terminated.
HIPS: If a vendor chooses to use MQP’s H.I.P. supplier – a commission for MQP will be included in the price.

VENDOR’S SIGNATURE…………………………………………………………………………..DATE………………….