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Standard Business Terms and Conditions of Service

1. THE AGREEMENT TO ACT ON YOUR BEHALF

Upon receipt of confirmation of your instructions we undertake to work with you to find a suitable property for you to purchase or rent, as described in the completed Requirement Form, or as subsequently discussed with us.

2. FEES

a) Initial Registration Fee
In view of the substantial amount of time and effort we shall be investing on your behalf to find a suitable property, there is an Initial Registration Fee of £500, payable with the confirmation of your instructions ; there is an Initial Registration Fee of £300, payable upon receipt of your instructions, for rental property.

b) Final Fee
Our Final Fee will be 1% of the purchase price for any property which we have introduced you to and on which you exchange contracts to purchase an interest in, or one month’s rent in respect of any property you agree to rent, during the period of our Agreement or, within one year after the date of termination or expiry of this Agreement.

For the purposes of this Agreement, we shall be deemed to have introduced a property to you, if you have either directly or indirectly, received the particulars of a property from ourselves, from any of the firms of estate agents with whom we have regular contact, or through either agents or individuals whom you have instructed us to negotiate with on your behalf during the term of this Agreement, or any extension to that term.

3. WHEN DOES THE FEE BECOME DUE?

Should you subsequently exchange contracts on such a property, then our fee would become due in accordance with paragraph 2(b).

Payment of fees calculated as detailed in paragraph 2(b) should be made in full upon exchange of contracts for the purchase or rent of a property.

We reserve the right to charge interest on any sums of money not paid on the due date at a rate of 4% per annum above base rate from time to time of Lloyds Bank plc.

4. DEFINITION OF EXCHANGE OF CONTRACTS

(a)
You or any close relation, or any other person with the aid of funds provided by any of such persons, acquires or agrees to acquire, or any body, corporate or trust in which any of those persons has an interest (directly or indirectly) acquires or agrees to acquire, any legal or beneficial or other interest in any freehold or leasehold property, or agrees to occupy any such property ; or

(b)
A third party acquires or agrees to acquire any legal or beneficial or other interest in any freehold or leasehold property, or agrees to occupy a property and, within one year you occupy that property either together with or independently of that third party.

5. TERM / CANCELLATION / RENEWAL

This Agreement shall subsist for an initial period of four months, and shall continue thereafter until terminated by one month’s notice given in writing by either party to the other. (For the purposes of this Agreement, this will include notice given by e-mail).

If this Agreement continues beyond the initial period of four months, Relocate Herefordshire reserves the right to charge a further fee. Howevever, if we do so, the Final Fee payable on Exchange of Contracts, or the signing of the Rental Agreement, shall be reduced by the additional sum charged.

6. GENERAL PROVISIONS

The details of properties, including reports and other information which we may provide, are prepared in good faith and are solely for guidance puposes. They do not form any part of any contract relating to the purchase or letting of any property. We recommend that all purchasers and/or tenants must satisfy themselves as to the correctness and accuracy of any details provided by us.

In addition, we do not accept liability for the views of, or contents of, any report prepared by any third party in relation to any property. It is strongly advised that all prospective ourchasers and/or tenants take appropriate legal and other advice and use the services of relevant legal, property and valuation specialists.

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