TERMS AND CONDITIONS OF BUSINESS FEES AND EXPENSES
Please see below a copy of our terms and conditions:
Instructions – Where London Key accepts your instructions and acts on your behalf you will be liable to pay remuneration to us in addition to any other costs or charges agreed.
Purchase or Letting- Administration fees are payable by you to London Key on commencement of the instruction. The current fee is £500
Property Search for a Purchase – A fee of 1% of the contract purchase price (less administration fee paid) is payable in the event that exchange of contracts takes place for a purchase of a property introduced by us regardless of when exchange of contracts takes place. Such payment to be made within 14 days of exchange of contracts or on completion whichever is earlier.
Property Search for a Rental – A fee of 10% of the annual rent (subject to a minimum of £2500)(less administration fee paid) is payable on entering in to a letting agreement in respect of a property introduced by us regardless of when the tenancy agreement is entered into. Such payment to be made within 14 days of entering into the tenancy agreement.
Property Sale – A fee of 1% of the contract sale price is payable in the event that exchange of contracts takes place for the sale of the property to either a buyer introduced by us or within the contract period. By signing these terms and conditions you irrevocably authorise your conveyancer to pay the fees on completion of your sale.
Interest – Failure to pay the fees by the contractual date specified shall result in interest at the rate of 4% above Bank of England Base Rate being charged as default interest calculated as at the date first demanded.
We do not have a facility to accept credit card or debit card payments. Payments to be made by electronic bank transfer and bank details will be provided.
Duration of Agreement – This Agreement shall be limited to a period of twelve weeks.
Cancellation – You may cancel this Agreement at any time on giving 14 days notice, however the fees referred to above are payable even in the event of cancellation as referred to above. You may also have the right to cancel this Agreement under the Consumer Protection Act 2015 within fourteen days from the date upon which it was signed. Notice of cancellation must be made in writing (e-mail accepted)
Anti Money Laundering Regulations – We require you to provide suitable evidence of your identity. Evidence of source of funds will be required to progress negotiations on your behalf. For a sale evidence of ownership is required.
Purchase or Letting -we shall undertake research on your behalf to find suitable properties which meet your specifications. We shall carry out initial viewings and provide you with a summary and arrange viewings for you. We shall negotiate the terms on your behalf.
Sale – We shall advise you on the price, arrange your EPC and marketing brochure. We shall market your property and vet interested parties. We will attend viewings and negotiate on your behalf. We shall keep you updated during the sales process.
Related/additional services – you may wish to instruct us for a related or additional service and fees will be agreed separately in writing.
Disclosure – it is a requirement of this Agreement for you to disclose any agreements you may enter into with any seller, landlord or buyer with whom we have introduced to you
Jurisdiction – you agree that the laws of England and Wales and the Courts in England and Wales shall jurisdiction over this Agreement
Entire Agreement and variations- This Agreement constitutes a contract between you and London Key and supersedes all prior Agreements understandings and representations or communications between us. No amendments or variations will have any contractual effect unless notified in writing and accepted by us in writing.
We/I confirm that we/I have read and understood the terms and conditions contained within this document. We/I understand that we/I have the right to cancel this agreement in accordance with the Consumer Rights Act 2015. We/ I accept that on signing this document we/I are/am bound by its entire contents unless cancelled within 14 days. We understand that London Key is a trading name for London Key 1 Ltd.