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PROPERTY SOURCING NON-DISCLOSURE AGREEMENT & TERMS AND CONDITIONS

 

PARTIES

(1) The property Sourcer: Means Soldmyhaus Ltd incorporated and registered in England and Wales with Company Number 14718365 whose registered office is at Office 8, Titan Business Centre Roydsdale Way, Euroway House, Bradford, BD4 6SE (Property Sourcer)

and

(2) Property Buyer (s): Means the person, firm or company who engages the services of the Property Sourcer via joining their property mailing list.

Approval of this Agreement will allow us to provide you with information on businesses and properties we are working with now and in the future. We will not need additional approval on future business or property opportunities. The terms of this Agreement are in effect for all business and properties discussed, at any time, between Soldmyhaus Ltd, hereafter referred to as property sourcer, and the undersigned party/parties. The undersigned prospective property buyer(s) hereby request information on business and properties represented by Soldmyhaus Ltd, also referred to as “property sourcer.” In consideration for Soldmyhaus Ltd providing such information to prospective buyers, the Buyer hereby agrees to the following:

BACKGROUND

1. The Property Sourcer is a property email mailing list that sends properties for sale direct to the Property Buyer’s email. The mailing list is made up of people who signed up to receive properties direct to their inbox via www.soldmyhaus.co.uk

2. The Property Sourcer charges 1.5% of the property purchase price subject to a minimum of £1,500 to the Property Buyers if they exchange and complete on a property that the Property Sourcer sent them when sending out that property deal to its mailing list.

3. The Property Buyer wants to join the mailing list so they can receive the properties sent by the Property Sourcer direct to their inbox. They understand that to join the mailing list they need to input their name, email address and phone number and read the Property Sourcer T&Cs to which they accept that if they exchange and complete on a deal that was sent to them via the Property Sourcer they will need to pay a 1.5% fee of the purchase price subject to a minimum of £1,500.

PROPERTY SOURCING FEE, RESERVATION FEE, ADDITIONAL COSTS & PAYMENT

  1. The Property Sourcer will charge the Property Buyer a non-refundable holding deposit of £1,500 (Payable within 2 hours of your offer being accepted.) This non-refundable holding deposit is to take the property that they wish to buy off the market that the Property Sourcer has sent out to the mailing list. The Property Sourcer agrees to take the property off the market and will mark it sold. The non-refundable holding deposit will be deducted from the final fee that the Property Sourcer will invoice the Property Buyer for if they exchange and complete on a property purchase that the Property Sourcer introduced to them. If the Property Buyer does not exchange and complete in the agreed time frame at which case it goes back on the market and the Property Buyer loses their non-refundable holding deposit. 
  2. Reservation Fee: A fixed amount of £5,000 (no VAT), to hold on behalf of the Seller. The reservation Fee will form part of the Purchase Price of the Property. (Payable within 2 hours of your offer being accepted.) If the Property Buyer does not exchange and complete in the agreed time frame at which case it goes back on the market and the Property Buyer could lose their reservation fee.
  3. The Property Sourcer fee to source a property for the Property Buyer is 1.5% subject to a minimum of £1,500 of the purchase price of the property. If this amount is different to the paid price on the Land Register, then the 1.5% will be based on the higher of the two
  4. The Property Sourcer has £1,500 minimum finder’s fee. The 1.5% is based on the price that the Property Buyer pays for the property introduce.
  5. The Property Buyer agrees to pay the Property Sourcer within 14 calendar days from the date they exchange on property that they have been introduced to from the Property Sourcer via the mailing list.
  6. If the fee to the Property Sourcer has not been received within 14 calendar days of the due date, which is the day they exchanged on the property, the Property Sourcer will be entitled to charge interest on all sums outstanding from the due date at the rate of 2.5% per month until payment is received. The Property Sourcer will also charge a handling fee of £50.00 and all costs, including legal costs, that the Property Sourcer incurs in recovering the Property Buyers debt.
  7. The Property Buyer will not contact a vendor or any of its agents or developers, regarding a property that they have been introduced to by the Property Sourcer. In the event that the Property Buyer does circumvent the Property Sourcer to exchange and complete on a property introduce to them from the Property Sourcer via email direct to their inbox then the Property Sourcer will charge the Property Buyer 1.5% of the purchase price subject to a minimum of £1,500 to which it is to be paid within 14 days of the invoice. If the fee to the Property Sourcer is not received within 14 calendar days of the due date, which is the day that the Property Sourcer sent the Property Buyer an invoice, the Property Sourcer will be entitled to charge interest on all sums outstanding from the due date at the rate of 2.5% per month until payment is received. The Property Sourcer will also charge a handling fee of £50.00 and all costs, including legal costs, that the Property Sourcer incurs in recovering the Property Buyers debt.

    THE PROPERTY BUYER ACKNOWLEDGES AND AGREES THAT:

    1. The Property Buyer understands that all information sent to them by the Property Sourcer is private and confidential and should not be discussed with any third party unrelated to this agreement, this information will remain the property of Soldmyhaus Ltd. All conversations and documents shall be held in strict confidence and discussed solely with Soldmyhaus Ltd, as Seller’s representative. 
    2. Not all the properties introduced to the Property Buyer from the Property Sourcer will match the Property Buyers requirements in every respect.
    3. All the details and any information provided to the Property Buyer are for guidance only. Any photographs, floor plans, sizes and specification are subject to changes and only give a general indication of a property. The Market Value of the property is an estimated value. It is based on comparable properties for sale or sold in the area as well as the Property Sourcer and local agents’ opinions.
    4. The Property Buyer shall satisfy itself as to the correctness of any information provided by the Property Sourcer before purchasing a property.
    5. A seller/vendor may increase the price of a property at any time.
    6. The Property Sourcer does not offer any legal, surveying, financial, tax, accounting or other specialist advice.
    7. The Property Sourcer recommends that the Property Buyer take appropriate legal and other advice and to use the services of solicitors, surveyors, valuers, financial advisers and other specialists, for whose fees the Property Buyer is solely responsible.
    8. The choice of property to purchase is the Property Buyer’s responsibility.
    9. The Property Buyer must instruct a solicitor and provide the Property Sourcer with the solicitor’s details within 5 calendar days of having an offer accepted on the property introduced.
    10. The Property Sourcer shall endeavour to ensure that all information passed to the Property Buyer about any property is accurate and does not mislead. However, the Property Sourcer is not responsible for the accuracy of any information provided to the Property Sourcer by the seller’s, agent or 3rd party for the accuracy of any entry in any public register and shall not be liable for any loss or damage resulting from the inaccuracy of any such information. The Property Sourcer shall use reasonable endeavours to highlight any material inaccuracies of which it or they are aware but shall not verify any information provided to it or them unless instructed by the Property Buyer to do so to which there can be additional unforeseen costs charged to the Property Buyer from the Property Sourcer.
    11. All statements made in the particulars are made without responsibility on the part of the Property Sourcer.
    12. None of the statements contained in the particulars are to be relied on as a statement or representation of fact.
    13. The Property Buyer is under no obligation to purchase property through the Property Sourcer. However, the Property Buyer authorise the Property Sourcer to contact them when suitable property opportunities arise via email, post, SMS or phone.
    14. The Property Buyer understands and agrees that exchange of contracts must take place no later than 28 days from receipt of contract from the Property Buyers solicitors. Failure to do so could result in the vendor withdrawing a property and the Property Buyer is non-refundable holding deposit lost.
    15. The Property Sourcer will mention OMV (open market value) when it sends out properties via the mailing list, this value is the Property Sourcer or 3rd party opinion from the data it has looked at. The Property Buyer understands that they need to do their own Due Diligence to determine the OMV of the property sent to them via the mail shot before they put in an offer and exchange and complete.
    16. The final decision to exchange and complete on a property that the Property Sourcer has put forward via the mailing list is the sole responsibility of the Property Buyer. It is the Property Buyers responsibility to check, verify and do their own due diligence on the properties put forward.

    LIMITATIONS OF LIABILITY

    Loss of profit, revenue, goodwill, or anticipated savings. Neither party shall under any circumstances whatsoever be liable to the other, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for:

    1. any loss of profit sales, revenue, or business.
    2. any loss of expected profit.
    3. any loss of expected income.
    4. loss of anticipated savings.
    5. loss of or damage to goodwill.
    6. loss of use or corruption of software, data or information.
    7. any loss arising out of the lawful termination of this agreement or any decision not to renew its term, or
    8. any loss that is an indirect or secondary consequence of any act or omission of the party in question.

    TOTAL CAP

    The Property Sourcer’s total liability under or in connection with this agreement how so ever caused shall be capped at the aggregate amount of fee received by the Property Sourcer in this agreement.

    LIMITED SCOPE OF AUTHORITY.

    The Property Sourcer shall have no authority, and shall not hold itself out, or permit any person to hold itself out, or otherwise create the impression that it is authorised to bind the Property Buyer in any way apart from to negotiate the price of a property for sale and shall not do any act which might reasonably create the impression that the Introducer is so authorised.

    The Property Sourcer has the right to negotiate with the property vendor, seller, agent, or developer on the sale price. However, the Property Buyer does not have to accept the price that has been agreed by the Property Sourcer.

    THIRD PARTY RIGHTS

    No one other than a party to this agreement shall have any right to enforce any of its terms.

    GOVERNING LAW

    This agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales.

    JURISDICTION

    Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).

    This agreement has been entered into on the date stated at the beginning of it.

    VARIATION

    No variation of this agreement shall be effective unless it is in writing and signed by the parties.

    TERMINATION

    Without affecting any other rights or remedy available to it either party may terminate this agreement with immediate effect by giving written notice via email to the other party. All fee/commissions/payments will still be due as per this contract to the Property Sourcer on all properties they introduce to the Property Buyer before the termination no matter how far into the future they are if they exchange and complete any of these properties.

    In consideration for introducing and furnishing me with information on businesses /Properties for sale, I agree that if I should purchase any business or Property or enter into a property purchase agreement within eighteen (18) months of the date it was introduced to me by property sourcer the agreed to commission shall be due to the property sourcer. Should the undersigned prospective Buyer(s) act directly or no directly to circumnavigate the property sourcer’s right to his commission or nor abide by the terms of this Agreement, it is hereby understood that the Buyer may be held personally responsible for the property sourcing fee and any and all of the property sourcer’s legal expense in enforcing sourcer’s rights herein.