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Schedule 1
Duties of Agent
The Agent shall -
(a) market
the Property on behalf of the Vendor;
(b)obtain
information in relation to the Property for the Vendor;
(c)arrange
for purchasers to inspect the Property;
(d)conduct
negotiation and submit all offers in relation to the Property
to the Vendor; and
(e)assist
the Vendor in entering into a binding agreement for sale and
purchase with a purchaser.
Schedule
2
Commission to be Paid by Vendor
| 1. |
Subject to section 2 of
this Schedule, if during the Validity Period the Vendor
through the Agent enters into a binding agreement for
sale and purchase with a purchaser in respect of the
Property then the Vendor is liable to pay the Agent
commission in the amount of $________________/at the
rate of _______% of the transacted price of the Property(1):
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(8)upon the signing of the agreement for
sale and purchase.
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(8) upon the completion of the property transaction
as specified in the agreement for sale and purchase.
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| 2. |
Subject to section 3 of
this Schedule, the Vendor shall have no obligation to
pay any commission to the Agent if completion of the
property transaction falls through without fault on
the part of the Vendor and, in such case, if the commission
has already been paid it shall be refunded by the Agent
to the Vendor as soon as is practicable and in any case
not later than 5 working days from the completion date
as specified in the agreement for sale and purchase
with interest/without interest(1).
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| 3. |
The commission shall become
payable to the Agent in the case of mutual cancellation
of a binding agreement for sale and purchase of the
Property not arising from any provisions of the agreement
for sale and purchase.
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| 4. |
The Vendor is not liable
to pay any commission to other estate agents with whom
the Agent co-operates in the marketing of the Property.
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Schedule 3
Interests in Property
In accordance with clause 9 of
this Agreement, particulars of the pecuniary or other beneficial
interests in respect of the Property are as follows:
______________________________________________________________
______________________________________________________________
Schedule
4
Explanatory
Notes
| (1) |
This means delete whichever
is inappropriate. All deletions must be initialled.
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| (2) |
Enter the name of the estate
agency business entity concerned in clause 1 of this
Agreement.
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| (3) |
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Exclusive Agency -
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this means the Agent
is the only estate agent acting for the Vendor.
If during the Validity Period the Vendor enters
into a binding agreement for sale and purchase with
a purchaser in respect of the Property through another
estate agent, the Agent has a right to claim commission
as specified in section 1 of Schedule 2 from the
Vendor. |
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Single agency -this means the Agent acts
for the Vendor only.
Dual agency -this means the Agent acts for both the Vendor
and a purchaser of the Property.
Potentially dual agency - this means the Agent acts for
the Vendor only but may also act for a purchaser of the
Property at a later stage. |
| (4) |
The amount or rate of commission
is negotiable between the Vendor and the Agent.
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| (5) |
Specified relative -this
means the spouse, parent, child, brother or sister.
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| (6) |
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Substantial shareholder
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this means a person who is entitled
to exercise or control the exercise of 10% or more
of the voting power at any general meeting of the
Agent. |
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| (7) |
Having a pecuniary or other
beneficial interest includes:
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| (a) |
being a member of
a company or any other body which has a pecuniary
or other beneficial interest in respect of the
Property;
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| (b) |
being in partnership
with or is in the employment of a person who has
a pecuniary or other beneficial interest in respect
of the Property; or
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| (c) |
being a party to any
arrangement or agreement (whether enforceable
or not) concerning the Property.
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| (8) |
Tick the relevant box. |
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