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Foxtons Fees and Terms London

This document outlines Foxtons' sales terms, including sole or multiple agency options with minimum 12 week terms, fees of 2.5% + VAT for sole agency or 3% + VAT for multiple agency based on sale price, and that Foxtons' fees are due upon exchange of contracts or potentially paid from completion monies. It also notes the possibility of dual fee liability if another agent was previously or becomes involved, and that Foxtons reserves the right to sub-instruct other agencies.

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0% found this document useful (0 votes)
1K views

Foxtons Fees and Terms London

This document outlines Foxtons' sales terms, including sole or multiple agency options with minimum 12 week terms, fees of 2.5% + VAT for sole agency or 3% + VAT for multiple agency based on sale price, and that Foxtons' fees are due upon exchange of contracts or potentially paid from completion monies. It also notes the possibility of dual fee liability if another agent was previously or becomes involved, and that Foxtons reserves the right to sub-instruct other agencies.

Uploaded by

Alejandro
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Sales Terms and Conditions of business, fees and expenses

Client: Sole agency


Where Foxtons act on your behalf as your sole agent, you will be liable to pay remuneration to us, in addition to any other
Property address: costs or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with a purchaser
introduced by us during the period of our sole agency or with whom we had negotiations about the property during that period;
or with a purchaser introduced by another agent during that period. Sole agency instructions, including Open House which is
only available on a sole agency basis, are subject to a minimum contract period of 12 weeks. Either party may terminate such a
Contact address: contract by giving four weeks’ notice in writing. Such notice cannot be served prior to the eighth week of instruction due to this
minimum period.
Multiple agency
Where Foxtons is instructed along with other agents, you will be liable to pay remuneration to us, in addition to any other costs
Daytime tel: or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with a purchaser introduced
by us; or with a purchaser to whose attention we brought the availability of the property. A multiple agency instruction can be
terminated at any time by either party by giving four weeks’ notice in writing.
Home tel:
Asset Transfer
Mobile: For the avoidance of doubt and without prejudice to the above it is the intention of the parties to this agreement that any
purchase by way of asset transfer will be effected to maximise efficiencies and that such a transfer will be treated as if it was a
sale of property for the purposes of this agreement.
Fax:
Energy Performance Certificates (EPCs)
It is a legal requirement to have commissioned an EPC before marketing can commence on your property. Foxtons can arrange
Email: this for you at a cost of £118.80 inc VAT.
Sub instruction
Agency type: Foxtons reserves the right to sub-instruct other agencies at any time during our agency if we consider that this would be in your
(Tick box) best interests. This will not involve any extra costs and all viewings and negotiations will be co-ordinated by Foxtons.
Fees payable
Sole agency: 2.5% + VAT (3% inc VAT) Multiple agency: 3.00% + VAT Foxtons’ fees are calculated as a percentage (%) of the sale price achieved + VAT at the prevailing rate. As Foxtons’ fees are based
(12 week minimum term) (3.6% inc VAT) on a percentage of the price achieved, should this be higher or lower than the asking price, Foxtons’ fees will be correspondingly
higher or lower. For all sole agency instructions, this percentage is at a rate of 2.5% + VAT (3% inc VAT). For all multiple agency
instructions, this percentage is at a rate of 3% + VAT (3.6% inc VAT). For example, on a sole agency instruction our fees of 2.5% for
Open House: 2.5% + VAT (3% inc VAT) a £400,000 property would be £10,000+VAT (£12,000 inc VAT). On a multiple agency instruction our fees of 3% for a £400,000
(12 week minimum term) property would be £12,000+VAT (£14,400 inc VAT). All agency commissions are subject to a minimum fee of £4,500 + VAT
(£5,400 inc VAT). The sale price will be deemed to include any extra prices for fixtures, fittings, goods, chattels, carpets, curtains and
Tenure: Freehold Leasehold other such related items.
Responsibility of fees
(delete as appropriate) The responsibility for the payment of fees remains with the party(ies) named on this document and you hereby confirm that
you have obtained all necessary consents to allow you to instruct Foxtons to sell the property. Foxtons will be entitled to a
commission fee if you terminate this contract and go on to sell the property to a purchaser that Foxtons has introduced within
Expiry date: / / + Share of freehold (Y/N) six months of the date Foxtons’ instruction ended. However, Foxtons will give up its rights to any commission fee if a purchaser
first introduced by Foxtons goes on to buy the property through another estate agent in circumstances where that purchaser
was introduced by the other estate agent more than six months after Foxtons’ instruction ended. If no other estate agent is
Service charge: £ or % pa introduced, this time limit will not apply. There may be a dual fee liability if:
a) the seller has previously instructed another agent to sell the same property on a sole agency, joint sole agency or a sole selling
rights basis; or
b) that seller instructs another agent during or after the period of Foxtons’ sole agency or joint sole agency.
Ground rent: £ or % pa Time and payment of fees
All Foxtons’ fees become due and payable upon exchange of contracts. However, and at the discretion of Foxtons, fees may be
Other: paid out of completion monies. On signing this document, you are hereby authorising your lawyers to pay our fees out of the
sale proceeds.

Asking price: £ Interest


We reserve the right to charge interest from the date of exchange of contracts on any amounts still outstanding 28 days after
Foxtons’ fees are first demanded. The prescribed rate of interest shall be 2% above the Bank of England base rate as at the date
they are first demanded and payable from that date.
Notice of the Right to Cancel Magazine/newspaper/publications
You may have the right to cancel this contract under the Consumer Contracts (Information, Cancellation and Most properties marketed by ourselves are included in the Foxtons magazine. However, we reserve the right not to produce
Additional Charges) Regulations 2013 within 14 calendar days from the date upon which it was signed. Notice details of or include any property in our magazine or any other publication.
of Cancellation MUST BE IN WRITING and should be delivered or sent by post to the Cancellations Department, Connected persons
Foxtons Limited, Building One, Chiswick Business Park, 566 Chiswick High Road, London, W4 5BE; or by email to As required by Section 21 of the Estate Agents Act 1979, unless specifically stated otherwise, we are not aware of any personal
[email protected]. Any Notice of Cancellation is deemed served on the day that it is delivered, posted interest existing between ourselves or anyone in our employ or any connected person(s) and yourself(ves). If you are or become
or sent. aware of such an interest you should notify Foxtons immediately.
If you have given us your written agreement to market your property within the cancellation period you Related services
may be required to pay our commission fees if we have introduced a purchaser to your property prior to A purchaser may wish to instruct us about a related service. Foxtons does offer such services to purchasers including the
your serving a Notice of Cancellation. following: the sale or rental of this or another property; the provision of financial services via Alexander Hall Associates Ltd, part
of Foxtons Group; and management of property. Where this occurs, Foxtons or its employees may receive a fee. Any commission
Notice of Cancellation or other income earned by Foxtons while carrying out our duties as agent for the sale of the property, for example by referrals to
If you wish to cancel this contract, you MUST DO SO IN WRITING and you may complete this section to do so. third party EPC suppliers or solicitors, will be retained by Foxtons.
Please ensure that it is delivered or sent by post to the address given above, or emailed to Keys
[email protected]. Where you provide us with a set of keys (or authorise us to use keys held by another agent), we may make further copies to
facilitate viewings by the instructed office and other offices where appropriate. We will not charge you for this service. Foxtons’
I/We (delete as appropriate) hereby give notice to cancel the contract relating to my/our property
secure key tag system ensures that third parties cannot identify which property a set of keys belongs to, therefore, in the event
(delete as appropriate) the address of which is: that keys are lost or unaccounted for, Foxtons’ liability is strictly limited to the cost of cutting a new set of keys.
Complaints procedure
Should you have any problems with Foxtons’ service which you are unable to resolve with the Negotiator involved or the
branch/department Manager, you should write to the Director for the area/department in question. This complaint will
be acknowledged within three working days of receipt and an investigation undertaken. A formal written outcome of the
I confirm that the above information is accurate and that I have read and investigation will be sent to you within 15 working days. If you remain dissatisfied, you should write to the Director of Customer
understood the terms and conditions contained within this document. I Services and Compliance (DCSC). The same time limits will apply. Following the DCSC’s investigation, a written statement
understand that I may have the right to cancel this agreement under the expressing Foxtons’ final view will be sent to you and will include any offer made. This letter will confirm that you are entitled, if
Consumer Contracts (Information, Cancellation and Additional Charges) dissatisfied, to refer the matter to The Property Ombudsman (TPO) within six months for a review. For the avoidance of doubt,
TPO will only review complaints made by consumers.
Regulations 2013 within 14 calendar days from the date upon which it Anti-Money Laundering Regulations
was signed and confirm that I wish Foxtons to commence marketing the Foxtons is subject to the Money Laundering Regulations 2007. As a result we will need to ask you for suitable identification and
property immediately. I accept that in signing this document I am bound will be unable to proceed with any work on your behalf if we are unable to obtain this from you.
by its entire contents. Data protection and privacy policy
Foxtons is registered under the Data Protection Act 1998 and we undertake to comply with the Act in all our dealings with your
personal data. We will keep your personal information secure. Occasionally, we may contact you by letter, telephone, email or
otherwise to inform you about other products and services we offer. We try to limit this contact to acceptable levels, but if you
wish to exercise your right to opt out, simply write to: The Manager of New Business, Foxtons Limited, Building One, Chiswick
Signed: Park, 566 Chiswick High Road, London W4 5BE.
(for and on behalf of seller) Disclosure
It is a requirement of this agreement that should an offer be agreed privately, or via another estate agent, the seller must
disclose to Foxtons the identity of the purchaser prior to exchange of contracts.
Name: Jurisdiction
The High Court and the County Courts of England and Wales shall have jurisdiction over this agreement.
Entire agreement and variations
Date: This contract constitutes the entire agreement between Foxtons and the seller and supersedes all prior agreements,
understandings, representations or communications between the parties. No amendment or variation to this contract will have
any contractual effect unless approved in writing by a Director of Foxtons.

We are members of The Property Ombudsman and abide by The Property Ombudsman Code of Practice. You agree that we may disclose information relating to the sale
of your property to The Property Ombudsman, if you or the applicant have registered a complaint and The Property Ombudsman asks for it. You also agree that we may
disclose your contact details to The Property Ombudsman if they ask for them, to assist in their monitoring of our compliance with the Code of Practice.
Foxtons Limited Registered Office Building One, Chiswick Park, 566 Chiswick High Road, London W4 5BE Registration No.1680058 (England) LONDON  V.02/02/15

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