Terms & Conditions

TYPES OF AGENCY

Sole Agency
1. You will be liable to pay fees to Crayson, in addition to any other costs or charges agreed, if at any time during or after the period of our Sole Agency; unconditional contracts for the sale of the property are exchanged with a purchaser introduced by Crayson during the period of our Sole Agency or with whom we had negotiations about the property during that period; or with a purchaser introduced by another agent during the period of our Sole Agency. Our Sole Agency will continue unless terminated by either party giving four weeks notice in writing.

Joint Sole Agency
2. You will be liable to pay fees to Crayson, in addition to any other costs or charges agreed, if at any time whether during or after the period of our Joint Sole Agency unconditional contracts for the sale of the property are exchanged with a purchaser introduced by Crayson during the period of our Joint Sole Agency or with whom we had negotiations about the property during that period; or with a purchaser introduced by another agent during the period of our Joint Sole Agency. The fees will be shared between the two Joint Sole Agents in the proportions already mutually agreed, or if no such proportions are set out, equally between the other firm and Crayson. We are entitled to look to you for the proportion of the fee payable to Crayson. Our Joint Sole Agency will continue unless terminated by either party giving four weeks notice in writing.

Multiple Agency
3. You will be liable to pay fees to Crayson, in addition to any other costs or charges agreed, if at any time whether during or after the period of our Multiple Agency unconditional contracts for the sale of the property are exchanged with a purchaser introduced by Crayson during the period of our Multiple Agency or with whom we had negotiations about the property during that period; or with a purchaser introduced by one of our sub-agents during the period of our Multiple Agency. Our Multiple Agency will continue unless terminated by either party giving four weeks notice in writing.

Sub Agents
4. We reserve the right to sub-instruct other agencies at any time during our agency if we consider that this would be in your best interests. This will not involve any extra costs and all viewings and negotiations will be co-ordinated by and remain our responsibility.

FEES

Fees Payable
5.1 Our fees are calculated as a percentage (%) of the sale price achieved plus VAT at the prevailing rate. For all Sole Agency instructions this is at a rate of 2.5% plus VAT. For all Joint Sole Agency instructions this is at a rate of 3% plus VAT. For all Multiple Agency instructions this is at a rate of 3% plus VAT. The sale price will be deemed to include any extra prices for fixtures, fittings, goods, chattels, carpets, curtains and other such related items.
5.2 Should you terminate your contract with Crayson under clauses 1, 2, 3 or 4 within 4 weeks of the commencement of our agency you will reimburse Crayson immediately for any marketing costs we have incurred relating to the property, including (but not limited to) costs of producing property brochures and any advertising spent or booked.

Time & Payment of Fees
6. Our fees become due and payable on exchange of contracts. We will however accept payment from your solicitors out of the proceeds of the sale on the day of completion provided:
(1) you give irrevocable instructions to your solicitors in writing that they are to pay our fees plus VAT within 24 hours of completion; or
(2) we receive confirmation in writing from your solicitors that they have received such instructions and we have their undertaking to pay our fees plus VAT within 24 hours of completion.

Failed Completion
7. If a purchaser exchanges contracts but fails to complete the purchase, we reserve the right to charge half the agreed sale fee plus any outstanding marketing expenses plus VAT.

Unpaid Fees
8. If we find it necessary to use solicitors to recover agreed fees or expenses, our costs will be charged to you.

EPC
9. In the event that we are instructed as Sole Agent, we reserve the right to require you to put Crayson in funds for an EPC (Energy Performance Certificate) before formal instruction can be taken from Crayson to market the property.

INSTRUCTIONS WITHDRAWN OR TERMINATED ONCE A SALE HAS BEEN AGREED

10. In the event of an instruction being withdrawn or terminated by you, for whatever reason and unconditional contracts have not been exchanged once a sale has been agreed by Crayson in accordance with your instructions to a ‘ready, willing and able purchaser’, we reserve the right to charge half our fee plus agreed marketing expenses plus VAT. A purchaser is deemed a ‘ready, willing and able purchaser’ if they are prepared and able to exchange unconditional contracts for the purchase of the property.

OUTSTANDING INVOICES

11. We reserve the right to charge interest on any amounts still outstanding after twenty-eight days from the date of our first invoice. The prescribed rate of interest will be 4% above the current base rate of the Bank of England at the date of the demand.

EXPENSES

12. In the event that you agree with Crayson any additional costs and expenses, a detailed schedule of such items of expense will be submitted to you for your signed authorisation. Once authorised, all such expenses are invoiced and are payable within twenty-eight days of the date of our invoice.

PRIVATE BUYERS

13. Once we have received instructions to sell the property, either as Sole or Joint Agents, any private approach or private offer must be notified to Crayson forthwith, who will negotiate the sale on your behalf, at a fee of 1% plus VAT of the final sale price.

CONNECTED PERSONS

14. In pursuance of the Estate Agents Act 1979, as amended, unless specifically stated, we are not aware of any personal interest existing between Crayson and anyone in our employ or any connected person and you. If you are or become aware of any such an interest you should notify Crayson immediately.

MONEY LAUNDERING REGULATIONS

15. Under the terms of the Money Laundering Regulations we are required to verify the identity of all new clients who enter into a business relationship with Crayson. Accordingly we are required to inspect and copy two verification documents before we can proceed further.

DISCLOSURE

16. Should an offer be agreed privately, or via another estate agent, the seller must disclose to Crayson the identity of the purchaser prior to Exchange of Contracts.

DIRECT AND INDIRECT PURCHASE OF PROPERTY

17. These Terms and Conditions shall apply where a property is purchased directly or indirectly including (but not limited to) the purchase of an entity owning or having title to the property (such as a company or limited liability partnership) and these terms and conditions shall apply accordingly with the necessary changes being made.