Terms and Conditions
Fazuba - Terms and Conditions
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Fazuba Commercial Estate Agency Terms and Conditions
Introduction
Estate agents in the UK are regulated by various laws and guidelines to ensure fair practices and protect both buyers and sellers. These regulations cover aspects such as fees, contracts, and the duties of the estate agent.
Definitions and Key Terms
- Vendor: The person selling the property.
- Buyer: The person purchasing the property.
- Agent: The estate agent facilitating the sale or purchase.
- Sole Agency: A contract where only one estate agent has the right to sell the property.
- Multiple Agency: A contract where multiple estate agents have the right to sell the property.
- Commission: The fee paid to the estate agent, usually a percentage of the sale price.
Agency Agreements
The terms of the relationship between the vendor and the estate agent are set out in the agency agreement. This document should be carefully reviewed before signing.
Sole Agency Agreement
A sole agency agreement gives one estate agent the exclusive right to sell the property for a specified period, usually 8-12 weeks. If the property is sold by another agent or the vendor during this period, the original agent may still be entitled to commission.
Multiple Agency Agreement
A multiple agency agreement allows several agents to market the property simultaneously. Only the agent who successfully sells the property receives the commission. This arrangement can sometimes lead to faster sales but may also result in higher fees.
Ready, Willing, and Able Purchaser Agreement
In this type of agreement, the estate agent is entitled to commission if they find a buyer who makes an acceptable offer, even if the vendor decides not to sell.
Fees and Commissions
The commission charged by estate agents can vary but typically ranges from 1% to 3% of the final sale price, plus VAT.
Fixed Fees
Some agents offer a fixed fee structure, where the commission is a set amount regardless of the sale price. This can provide clarity and help with budgeting.
Percentage-Based Fees
In a percentage-based fee structure, the commission is calculated as a percentage of the sale price. While this can incentivize the agent to achieve a higher sale price, it can also result in higher costs for the vendor.
Marketing and Advertising
The estate agent's responsibility includes marketing the property to potential buyers.
Property Listings
The agent will typically list the property on various online platforms, in local newspapers, and in their own office. High-quality photographs and detailed descriptions are essential to attract interest.
Viewings
The agent will arrange and conduct viewings of the property, providing feedback to the vendor. Flexible viewing times, including weekends and evenings, can increase the chances of a successful sale.
For Sale Boards
A For Sale board outside the property can be an effective marketing tool, although the vendor has the right to decline this option.
Legal Compliance
Estate agents must comply with various legal requirements to ensure transparency and fairness.
Consumer Protection from Unfair Trading Regulations
These regulations prohibit misleading actions or omissions by the estate agent. For example, all claims about the property must be accurate, and any material information must be disclosed.
Property Misdescriptions Act
Under this act, agents must ensure that all descriptions of the property are truthful and not misleading. Any inaccuracies can lead to legal action.
Money Laundering Regulations
Estate agents are required to verify the identity of their clients and report any suspicious activities to prevent money laundering.
Termination of Agreement
The terms for terminating the agency agreement should be clearly outlined.
Notice Period
Most agreements include a notice period, usually between two to four weeks, during which either party can terminate the contract.
Breach of Contract
If either party fails to comply with the terms of the agreement, the other party may have the right to terminate the contract and seek compensation.
Complaints and Disputes
In case of any disputes, there are mechanisms in place for resolution.
Complaints Procedure
Estate agents must have a formal complaints procedure. If a complaint cannot be resolved internally, it can be escalated to an independent ombudsman.
Ombudsman Services
The Property Ombudsman and other similar services provide an independent review of disputes between estate agents and their clients. Their decisions are binding and aim to ensure fair resolution.
By using our website and engaging in any advertising activities, you agree to comply with these terms and conditions. Your cooperation ensures a safe and enjoyable experience for all users and advertisers. Thank you for your understanding and adherence to our policies.
Disclaimer Notice
Important Information for Property Buyers and Sellers
General Disclaimer
The information provided on this website and in our property listings is for general informational purposes only. While we strive to ensure that the information is accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
Property Details
Accuracy of Information
The property details provided in our listings, including but not limited to dimensions, floor plans, descriptions, and photographs, are intended to give a general impression of the property. While we make every effort to ensure the accuracy of these details, we cannot guarantee that they are free from errors or omissions. Prospective buyers are advised to conduct their own inspections and surveys to confirm the accuracy of the information provided.
Marketing Material
All marketing material, including brochures, advertisements, and digital content, is produced for promotional purposes only and may not necessarily reflect the current state or condition of the property. We reserve the right to update or withdraw marketing material without notice.
Third-Party Information
This website may contain links to other websites or content provided by third parties. These links are provided for your convenience only, and we have no control over the content or availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them. We are not responsible for the content, accuracy, or practices of third-party websites.
Legal and Financial Advice
The information provided by us is not intended to constitute legal or financial advice. We strongly recommend that prospective buyers and sellers seek independent legal and financial counsel before entering into any property transactions. We do not accept any liability for any decisions made based on the information provided on this website or during the course of a property transaction.
Environmental and Planning Matters
Environmental Issues
We do not conduct environmental surveys or assessments of properties. Prospective buyers are encouraged to obtain their own independent environmental reports to determine the presence of any environmental issues, such as contamination or flood risk, that may affect the property.
Planning Permissions and Building Regulations
We do not provide advice on planning permissions or building regulations. Prospective buyers should consult with local planning authorities and obtain their own advice regarding any planning permissions, building regulations, or other legal requirements that may apply to the property.
Viewings and Inspections
Appointment of Viewings
Viewings of properties are by appointment only. We reserve the right to cancel or reschedule viewings at our discretion. Prospective buyers are advised to conduct thorough inspections during viewings to ascertain the condition and suitability of the property.
Health and Safety
During property viewings, buyers are required to comply with all health and safety regulations and guidelines. We accept no liability for any injury, loss, or damage incurred during property viewings.
Offers and Sales
Binding Agreements
All offers made on properties are subject to contract and are not legally binding until a formal sales agreement has been signed by both parties. We reserve the right to accept or reject any offers at our discretion.
Negotiations
Negotiations between buyers and sellers are conducted in good faith, but we do not accept any responsibility for the outcome of such negotiations. All parties are encouraged to seek independent legal advice during the negotiation process.
Disclaimer Changes
We reserve the right to modify or update this disclaimer notice at any time without prior notice. Any changes will be posted on this website, and your continued use of the website constitutes acceptance of any such changes.
Contact Information
If you have any questions or concerns about this disclaimer notice or any of our services, please contact us at contact@fazuba.com
Final Note
While we endeavor to provide accurate and up-to-date information, this disclaimer notice serves to protect our interests and clarify our position regarding the information and services we provide. Your understanding and cooperation are greatly appreciated.
Please note that this disclaimer applies to all properties listed and services offered by our estate agency.
Last Updated: 19th January 2025