Selling with Wadyi
Guide to Selling a Property
- Accurate valuation
- Selecting an estate agent
- Instructing a solicitor
- Presenting your property
- Marketing your property
- Accompanied viewings
- Receiving an offer
- Offer agreed
- Exchange of contracts
- Completion
Wadyi Properties & Management Limited can assist you throughout these processes and take the pressure of selling out of your hands. We work hard to sell your property for the best possible price, in the shortest possible time. We abide by the strictest codes of practice.
The company charges sales fees of 2.5% (From Agreed Sale Price).
As required by the Estate Agents Act 1979 (as amended), our terms and conditions of business are set out below:
Sole Agency
This means the appointment of only one agent. Should you instruct Wadyi Properties & Management Limited to act as Sole Agent then you will be liable to pay remuneration to us at the agreed rate of 2.5% of the final agreed selling price of your property, in addition to any other costs or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with:
A Buyer introduced by Wadyi Properties & Management Limited during the period of Sole Agency, or with whom Wadyi Properties & Management Limited had negotiations about the property, during that period, or
A Buyer introduced by another agent during that period.
The remuneration entitlement will not be subject to any additional fees.
The selling price used to determine our remuneration will be deemed to include any extra monies being paid for fixtures, fitting, goods, carpets, curtains or related items.
A sole Agency arrangement means that you will not instruct another Agent for a minimum period of Eight weeks.
Multiple Agency
This means that you are free to enter into a separate agreement with more than one Agent.
If Wadyi Properties & Management Limited are to act on a Multiple Agency basis, there is liability to pay remuneration at a rate of 2.5% of the final agreed selling price of your property, in addition to any other costs or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with a buyer introduced by Wadyi Properties & Management Limited during the period of the Agreement.
Joint Sole Agency
The term Joint Sole Agency means that two agents market the property and agree to share the sale remuneration regardless of which one of them achieves the sale. In most instances, the split of remuneration will be two thirds to the successful agent and one third to the other agent. The rate of remuneration will be agreed between you and the two agents involved. It is usual for the rate agreed to be higher than the sole agency rate offered by each agent.
The remuneration will become due on exchange of contracts to the successful agent and that agent will then arrange payment to other agent.
Sub-Instruction
Wadyi Properties & Management Limited reserve the right to sub-instruct other agencies during our agency if we believe this is to be in your best interests. You will not incur any additional costs or charges and all viewings will be co-ordinated by Wadyi Properties & Management Limited.
Our Remuneration
Exchange of Contracts, this occurs when unconditional contracts are exchanged between the seller and Buyer to transfer the ownership from one to the other. Under this agreement, this is the event which causes you, the Seller(s), to become liable to pay remuneration to Wadyi Properties & Management Limited.
Payment, upon exchange of contracts, Wadyi Properties & Management Limited will submit a remuneration statement to your solicitor and will allow payment to be delayed until completion of the sale. Should any part of the account statement remain unpaid for more than seven days after the completion date, interest at 3% over HSBC plc Base Rate will be added to the sum due.
Where Wadyi Properties & Management Limited receives your authority to incur additional charges for non-standard advertising and other items, these will be agreed with you in Sales Particulars.
Following an instruction to proceed with marketing of your property, Wadyi Properties & Management Limited will carefully prepare and forward to you a copy of the draft sales particulars for approval.
The Consumer Protection from Unfair Trading Regulations 2008 introduced tight controls over the way Estate Agents describe and advertise property in order to prevent misleading advertising. This means that we can be fined for violations. Consequently we are unable to distribute sales particulars until we have from you a signed and approved copy.
Please review carefully the draft particulars in due course and bring to our attention any errors or omissions. You should also consider the language used to represent your property and highlight any remarks which you consider to be potentially misleading. Once you have completed your review, please send us a signed and amended copy using prepaid envelope provided.
If the specification of your property changes in any way, you should notify us immediately and we will make immediate amendments to our records. Changes in specification could include removal of fitted appliances, fixed mirrors etc. Equally, you must bring to our attention any other matters which may affect the property such as planning applications or pending disputes.
Keys
It is usual for Wadyi Properties & Management Limited to hold keys to the property for the purpose of carrying out viewings. All keys are security coded to ensure that third parties cannot identify which property a set of keys relate to.
The Agreement
This agreement shall be governed by English Law and each party confirms that these terms and condition of business constitute the entire agreement between the parties, without variation.
Right to Cancel
If you are a consumer client and this contract was not agreed within our branch you have the right to cancel this contract within 14 days without giving any reason. The cancellation period will expire after 14 days from the day this contract was agreed. To exercise the right to cancel, you must inform us of your decision to cancel this contract by sending us a clear statement in writing to the above address or e mailing us at admin@wadyiproperties.co.uk.
Energy Performance Certificate
It is now mandatory that all commercial and residential properties, being sold or built or leased, to make available an energy performance certificate to prospective purchasers or tenants. This will aid decision making relating to efficiencies on outgoing cost on fuel. An EPC provided and energy efficiency for a property ranging from ‘A’ representing the most energy efficient to ‘G’ being the least. The certificate also indicates a properties carbon dioxide emission.
Before you begin marketing the property, you must have an Energy Performance Certificate (EPC). At the very least an EPC must be commissioned before marketing and then obtained within seven days.
The EPC must be made available to “prospective tenants” when you are viewing the property or if they request written particulars about the property from you. The person who ultimately becomes the tenant must have been given the full EPC.
The cost of this is approximately £80 per property for 1-3 bedrooms. Wadyi Properties & Management Limited can arrange this. A copy of the EPC must be kept on file and made available to all prospective interested parties. These copies will be retained on our files for 5 years as required by law. We would therefore be grateful if you could provide these documents as soon as possible to avoid any delay in marketing the property.
