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Authority Form

AGENCY TERMS & INSTRUCTIONS TO SELL OR LET

ESTATE AGENTS ACT 1979

and its Orders & Regulations

THE PROPERTY MISDESCRIPTIONS ACT 1991

THE PROPERTY MISDESCRIPTION (SPECIFIED MATTERS) ORDER 1992

The provisions of the above are embraced in this document which must be read before signature confirming the instruction. The definitions of 'Sole Selling Rights' and 'Ready Willing and Able purchaser' are those provided by the legislation. Reference to property also includes an interest in business - reference to sale also includes a letting as appropriate and vice versa.

APPOINTMENT

Austin Blowers are hereby appointed agents with sole selling rights to sell/let the property and or business described herein to a ready, willing and able purchaser subject to the following provisions:

SOLE SELLING RIGHTS

(as stipulated by the Office of Fair Trading)

You will be liable to pay remuneration to us, in addition to any other costs or charges agreed, in each of the following circumstances:

If unconditional contracts for the sale of the property are exchanged in the period during which we have sole selling rights, even if the purchaser was not found by us but by another agent or by an other person, including yourself:-

If unconditional contracts for the sale of property are exchanged after the expiry of the period during which we have sole selling rights, but to a purchaser who was introduced to you during that period or with whom we had negotiations about the property during that period.

READY, WILLING AND ABLE PURCHASER

(as stipulated by the Office of Fair Trading)

A purchaser is a 'ready, willing and able purchaser' if he/she is prepared and is able to exchange unconditional contracts for the purchase of your property.

You will be liable to pay remuneration to us, in addition to any other costs or charges agreed if such a purchaser is introduced by us in accordance with your instructions and this must be paid even if you subsequently withdraw and unconditional contracts for sale are not exchanged irrespective of your reasons.

ADVERTISING AND ASSOCIATED COSTS

Austin Blowers reserve the right to retain discounts offered by its suppliers. Where a property is advertised in display format, the cost of the heading and subsidiary information will be charged or shared equally with any other property in the same advertisement. Unless otherwise agreed in writing I/we authorise Austin Blowers, to advertise up to £150.00 approx. inc. VAT in publications they deem appropriate. Accounts will be submitted for payment within 7 days of submission.

COST OF PROFESSIONAL PHOTOS

A 7" x 5" colour photo costs approx. £20.00 inc. VAT

50 mini print photos costs approx. £10.00 inc. VAT

A 7" x 5" colour photo + 100 mini prints approx. £40.00 inc. VAT

(An external photograph will be taken within a few days of the return of this form - IF YOU HAVE ANY OBJECTIONS, PLEASE CONTACT US IMMEDIATELY).

COST OF BOARDS

A 'Flag' For Sale Board (Residential only) £16.00 inc. VAT approx.

A 'Flat' For Sale Board costs £45.65 inc. VAT approx.

A 4' x 4' For Sale V Board costs £80.90 inc. VAT approx.

A 4' x 4' Let Board costs £80.90 inc. VAT approx.

Extra wording costs £ 7.05 inc. VAT approx. per side.

Sold By/Let etc. costs £ 5.60 inc. VAT approx. per side.

Additional wording on boards or 'slips' will be charged - an estimate for this work will be provided.

Outside of 12 mile radius of Austin Blowers, 55/57 Mansfield Road, Nottingham, £1.00 + VAT per mile is charged for the erection of the board.

NOTE: As all Publications have different methods of charging and as adverts differ in size depended upon the number of words used, the below are for guidance only.

The approx. cost of a classified advert is as follows:

Nottingham Evening Post £40-£45 inc. VAT

Leicester Mercury £60-£80 inc. VAT

Derby Telegraph £35-£60 inc. VAT

Daltons Weekly £60-£90 inc. VAT

Daily Telegraph £160-£190 inc. VAT

Birmingham Morning Post £40-£70 inc. VAT

The approx. cost of a semi-display advert is as follows:

Nottingham Evening Post £40-£50 inc. VAT

Leicester Mercury £60-£80 inc. VAT

Derby Telegraph £40-£60 inc. VAT

Daltons Weekly £60-£90 inc. VAT

Daily Telegraph £300-£420 inc. VAT

Birmingham Morning Post £50-£80 inc. VAT

OTHER COSTS

In instances where it is necessary to take up references, a charge of £15.00 inc. VAT will be made for each reference.

VIEWINGS - MONITORING INSPECTIONS

If an accompanied viewing has to be arranged for surveyors or other specialists, a charge of £60 per hour inc. VAT or part thereof will be payable. A similar charge will be made for 'monitoring' and 'inspections' of vacant property and a fixed charge of £60 inc. VAT will be made for arranging estimates (per estimate) for such matters as removals, gardening, decorations and repairs. NO CHARGE IS MADE FOR NORMAL ACCOMPANIED VIEWING WITHIN AN 8 MILE RADIUS OF OUR OFFICE.

SALE PARTICULARS

Will be provided and dispensed up until the time that the property is sold (i.e. a contract for sale is signed and exchanged) unless otherwise instructed in writing. A fixed charge of £15 inc. VAT is made for providing original and subsequently amended particulars in each case.

OTHER SERVICES

In accordance with regulations made under the Estate Agents Act 1979, the vendor is specifically notified that Austin Blowers intend and will as a matter of course in appropriate cases, offer (by way of introduction) prospective purchasers/lessees of the property, mortgage/finance advice.

If any of these circumstances arise, we will give you written notice as soon as possible.

UNOCCUPIED PROPERTY

The Agent accepts no liability or responsibility for the maintenance or repair or any damage to the Property or its Contents whether it is unoccupied or occupied. If the property is vacant when adverse weather conditions are likely, frost damage may occur to water and heating systems and sanitary appliances. YOU ARE STRONGLY RECOMMENDED TO TAKE ALL NECESSARY ACTION TO PROTECT YOUR PROPERTY FROM SUCH RISKS AND TO ENSURE THAT YOU HAVE ADEQUATE INSURANCE COVER. YOUR INSURERS SHOULD BE NOTIFIED AS SOON AS THE PROPERTY IS VACANT AND PREFERABLY BEFORE.

CLIENT UNDERTAKINGS

The Client undertakes the following:

I/we have read and accept the terms of this Agreement on behalf of myself/the Client and any other joint owners, and understand a copy of this Agreement duly completed will be provided.
I/we undertake (to comply with current legislation) that during the period of this Agreement I/we will permit only an Austin Blowers 'For Sale/To Let' board to be displayed on the Property.
I/we will advise you at once if any aspect of the sale particulars you are able to supply to me/us and the public is, OR LATER becomes, inaccurate or misleading.
I/we authorise you to release keys of the property to persons wishing to view the property or otherwise inspect it.
I/we give you authority to collect a pre-contract deposit from the prospective purchaser/tenant with whom terms for the purchase or letting of the Property are agreed. I/we understand that the deposit will be refunded to the prospective purchaser if contracts are not exchanged.
I/we will notify you immediately if there is any change in my/our Legal Representatives.
Unless all monies owed have previously been paid, I/we (the Client) hereby irrevocably instruct (and undertake not to revoke such authorisation and instruction) my/our Legal Representatives to discharge any outstanding account and commission/fee levied by Austin Blwoers out of the deposit (or advance rent payable) paid by the purchaser/lessee on exchange of contract or when the purchaser/lessee takes possession whichever is the earlier. If the amount of deposit (or advance rent payment) is insufficient to discharge the amount, the balance or the whole, as the case might be, is to be discharged on completion of the sale. Furthermore, in the case of a Private Limited Company instructing Austin Blowers, the directors at the time of instruction then holding that office will be liable collectively and individually for payment in the event of default by the Company itself.
I/we agree that in the event of any account for remuneration or other charges payable in accordance with this Agreement remaining unpaid after the due date or date the account is rendered, (whichever is the later), interest will be payable at the compound rate of 2% per month (or part thereof) plus compensation as provided by the Late Payment of Commercial Debts (Interest) Act 1998 until payment in full has been made. I/we also agree to be responsible for all debt collection costs incurred by Austin Blowers or it's agents/representatives should it be necessary to incur such costs.
I/we authorise you to inform our Legal Representatives of our intention to sell the Property and to request them to obtain the title documents in order to prepare a draft contract as soon as an acceptable purchaser has been found.
I/we irrevocably authorise you to obtain from my/our Legal Representatives, at my/our cost, all necessary information to enable you to comply with the requirements of the Property Misdescriptions Act 1991 with reference in particular to the Property Misdescriptions (Specified Matters) Order 1992.
If a business is to be sold, I/we irrevocably authorise you to obtain, at my/our cost from my/our Accountant any information that you may find necessary to value/sell the business of for use by a prospective purchaser, his or her financial advisor or lending source.
I/we are not aware of any personal, family or business relationship which exists between us and the Agent or any person/business associated with the Agent, BUT I/WE UNDERTAKE TO ADVISE YOU, AT ONCE, IF I/WE BECOME AWARE OF ANY SUCH RELATIONSHIP.
I/we agree that decisions/instructions given to you by one of us or by my/our Legal Representative are given on behalf of the Client(s).
I/we agree not to hinder, delay or otherwise obstruct viewing arrangements or to act in a manner that will deter or undermine the confidence of prospective purchasers/lessees and I/we agree to assist wherever possible in effecting a sale/letting. I/we accept that your agreed remuneration will immediately be paid should a sale not proceed on substantiation of the foregoing.
For the avoidance of doubt I/we acknowledge that the file relating to this transaction will remain in the ownership of Austin Blowers.

VALUE ADDED TAX

VAT is payable at the current applicable rate on all items qualifying for this payment, unless otherwise stated.

RACE RELATIONS

Parties to this agreement agree to abide by the Code of Practice in Non-Rented Owner Occupied Housing.

NOTIFICATIONS AND NOTICES TO AUSTIN BLOWERS

ALL MATTERS relating to this agreement must be given in writing and will not be effective until received by Austin Blowers who will acknowledge them.

THE MONEY LAUNDERING REGULATIONS 2003

THE PROCEED OF CRIME ACT 2002

There is a mandatory requirement for Austin Blowers to receive formal proof of identity from our clients (both vendors and purchasers - old or new). As such we will write to you separately concerning this. Your signature to this agreement confirms that you will provide the information required.

AGENTS RIGHT TO WITHDRAW

Austin Blowers reserve the right to cancel this Agreement with immediate effect, by word of mouth or in writing without relinquishing any rights to reimbursement of commission and advertising and associated costs.

CLIENTS RIGHT TO WITHDRAW

The Agency will continue for a minimum period of 3 months and may be terminated thereafter upon 4 weeks notice in writing being given.

NO ADMINSTRATION OR WITHDRAWAL CHARGE IS MADE IN THE EVENT OF THE PROPERTY AND/OR BUSINESS BEING WITHDRAWN FROM OUR REGISTERS.

COMMERCIAL & INDUSTRIAL PROPERTY AND/OR BUSINESS

NAME AND ADDRESS OF PROPERTY/BUSINESS: __________________________________________

TEL:________________________________________

NATURE OF BUSINESS:_______________________________________________________________

PRICE GUIDE IN THE REGION OF

SELLING PRICE: LEASE/BUSINESS £ +SAV PROPERTY £

THE CLIENT:_______________________________________________________________________

TEL:________________________________________

I/we confirm that I/we are the owner of the property to be sold, let or otherwise disposed of and have the legal authority (with the authority of all relevant persons and bodies) to authorise Austin Blowers to sell it. Any party signing this authority who has no power to do so will be personally liable for any loss to Austin Blowers as a result of such misrepresentation.

LEGAL REPRESENTATIVE: ______________________________________________________

ACCOUNTANT: ______________________________________________________

NATURE OF INTEREST

FREEHOLD LEASEHOLD PERIODIC TENANCY NEW LEASE DETAILS TO BE CONFIRMED

For a term of _____ years from __________________ 20____ incorporating ______________ year

rent reviews at a (current) RENT (in the region) £________________________ per annum/pcm

LANDLORD OR AGENT: ________________________________________________________________

TURNOVER: £_________________________ year TURNOVER: £_____________________________pw approx.

GROSS PROFIT: £_________________________ Ended

NET PROFIT: £_________________________ STOCK: £_____________________________

STAFF: FULL TIME____________________________PART TIME________________________________

NORMAL BUSINESS HOURS:

Monday__________________________

Tuesday____________________________

Wesdnesday_____________________________

Thursday____________________________

Friday__________________________

Saturday_________________________

Sunday_______________________________

FOR SALE/TO LET BOARD_____ PHOTO____ IN ORDER TO RELEASE KEY (S) UNACCOMPANIED______

COMMISSION AND CHARGES

CALL-OUT: A Call-Out charge of £50.00 inc VAT is made for our initial inspection of your property/business, to be paid at the time.

REGISTRATION: On instructing Austin Blowers, a Registration Fee of £400+VAT (£470 inc VAT) is payable.

COMMISSION: Once the property/business has been sold/let or otherwise disposed of, commission in accordance with the terms of this agreement will be paid on the following basis (LESS the amount already paid above).

SALE OF BUSINESS AND/OR LEASEHOLD INTEREST:

5% plus VAT of the total sale price realised, subject to a minimum of £750 plus VAT

PLUS

SALE OR LETTING OF PROPERTY

2% plus VAT of the sale price realised for a freehold or long leasehold interest

10% plus VAT of the rental/licence fee where a lease/tenancy/licence is arranged, assigned or otherwise transferred, as an alternative to a sale of the property. In either case subject to a minimum of £750 plus VAT

NOTE: IRRESPECTIVE OF price(s) realised on sale, letting or licence fee, a minimum of £1,500+VAT will be paid (LESS £400 inc VAT) where we are instructed to sell as a going concern and when business ceases to trade.

The sum of £ is hereby paid towards initial advertising costs and I acknowledge that I/we will be responsible for further advertising costs up to £150 inc VAT and thereafter on my/our instruction.

NB: In the circumstances where a prospective purchaser becomes employed by the vendors, or takes any interest in the business being sold (and the property from which it is conducted), as opposed to purchasing it, the commission will be payable, calculated on the price(s) quoted irrespective of the expression "Price Guide in the region of".

I/we have read the terms of this 7 page Agreement on behalf of myself/the Client and any other joint owners (as evidenced by my signature below), and understand that a copy of it will be given to me or will be given on request.

SIGNED ON BEHALF OF CLIENT SIGNED ON BEHALF OF AGENT

_____________________________ ________________________________

DATE________________________