TERMS OF BUSINESS - PRIVATE VENDOR AGREEMENTS
1. All commissions will be calculated on a percentage of the final selling price agreed between the buyer and the vendor as outlined below:
SOLE AGENCY - 4% of sale price plus IVA
This is subject to a minimum fee of €6,500 plus IVA
MULTIPLE AGENCY - 5% of sale price plus IVA This is subject to a minimum fee of €6,500 plus IVA
2. If the vendor selects to instruct Si Spain Property Consultants S.L. to market their property exclusively under a Sole Agency Agreement then Si Spain Group will be the sole and exclusive agent for the marketing of the property specified for an initial minimum period of 16 weeks from the date of the agreement. The agreement will continue after this period unless terminated by either party with four weeks written notice. The vendor agrees not to instruct any other agent to market the property during this period. The vendor also agrees not to place any additional "For Sale" boards at the property, either private or from third parties and agrees not to market the property through any other means or methods, either directly or indirectly during this period. After this initial 16 week period of exclusivity and following the required 4 weeks written notice other agents may be appointed. In this instance, and unless specifically instructed in writing by the vendor to cease marketing the property, Si Spain Property Consultants S.L. will continue to market the property and this agreement will automatically transfer to a Non Exclusive/Multiple Agency agreement with the appropriate commission levels as outlined in section 1 of this agreement then being applicable.
3. During the period of exclusivity the vendor will be liable to pay a fee to Si Spain Property Consultants S.L. at the rate of commission outlined in this agreement as well as any additional costs or charges agreed if at any time a sale of the property is agreed with a purchaser that:
- Was directly introduced or made aware of the property by Si Spain Consultants S.L. either through their website, online advertising, direct email marketing, in- office marketing or verbal presentation by phone or in person.
- Was found directly by or introduced to the vendor by any 3rd party organisation or person during the period of exclusivity.
Commission payments will normally be accepted on the day of completion. In this case Si Spain Property Consultants S.L. requires the vendor to instruct their solicitor to pay the full fee from the proceeds of the sale. This payment can be made with a cleared funds cheque or by electronic bank transfer but must be made prior to or on the actual day of completion. Where payment is made by electronic transfer proof of payment will be required to be presented to Si Spain either before or during legal completion at the notary office. However, Si Spain do reserve the right to take payment of their full fee at any time following the signing of a private purchase agreement by both parties. Si Spain reserve the right to take this payment directly from the non refundable deposit (10% of the purchase price) which is required to be paid by the purchaser to the vendor no later than 4 weeks following the date of reservation. Si Spain Group's commission charge is fully inclusive of all marketing fees and expenses except where the vendor has specifically requested and authorised them to carry out non standard services at a pre-agreed cost.
If any fees or agreed expenses payments are not received within seven working days from the date of legal completion Si Spain Property Consultants S.L. reserves the right to charge interest at 3% above the prevailing Euribor base rate which will be calculated from the date of legal completion. In addition should the collection of our fees or expenses incur additional legal or collection costs these may also be charged to the vendor.
4. Si Spain will place a branded "For Sale" sign at the property (where possible) and the vendor agrees that no other "For sale," "Se Vende" or similar marketing signs or materials can be displayed whilst Si Spain Property Consultants S.L. remain sole/exclusive agents.
5. Si Spain are authorised to present certain 3rd party financial products and services to potential purchasers from which introduction fees and commission may be earned.
6. Si Spain Property Consultants S.L. cannot accept responsibility for the maintenance or repairs of unoccupied properties for sale unless also they are also appointed to manage the property.
7. The property will be marketed at the agreed price that does not include any taxes. Si Spain Consultants S.L. always endeavour to provide an accurate assessment of price for all properties based on current market conditions. Whilst Si Spain Property Consultants S.L. are always committed to ensure the vendor receives the best price possible they cannot be held responsible or liable if the property does not achieve the expected sale price. Details of the property contents included in the sale will be included in the property particulars.
8. If there is any breach of these terms of business by the vendor the property will be withdrawn from sale and the vendor may be charged for administration expenses.
9. At the point at which an offer is accepted by the vendor and a sale is agreed between the purchaser and the vendor for the property Si Spain Property Consultants S.L. will take a non- refundable reservation deposit or guarantee of €5,000 from the purchaser. Should the purchaser then withdraw from the sale Si Spain Property Consultants S.L. will retain €2,500 of this deposit for expenses incurred and the remaining €2,500 will be paid to the vendor.
BY INSTRUCTING SI SPAIN TO MARKET THEIR PROPERTY THE VENDOR CONFIRMS THEY HAVE READ, UNDERSTOOD AND AGREE TO THESE TERMS. ALL CLAUSES ABOVE WILL APPLY UNLESS AGREED SEPARATELY IN WRITING.