The Home Buyers Agreement is essential when engaging professional services for property acquisition in England and Wales. This document is typically used when a buyer requires assistance in identifying, evaluating, and securing suitable properties. The agreement establishes clear expectations, protects both parties' interests, and ensures transparency in fee structures and service delivery. It should be used at the outset of any professional property search arrangement and includes crucial details about search criteria, territory coverage, reporting requirements, and terms of exclusivity if applicable.
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1. Parties: Identification and details of the buyer and estate agent
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Services: Description of services to be provided by the estate agent
5. Fees and Charges: Breakdown of all costs and payment terms
6. Duration: Term of the agreement and termination provisions
7. Obligations: Responsibilities of both parties
1. Multiple Agency Provisions: Additional terms and conditions for cases where multiple agents may be involved in the property search
2. Special Requirements: Specific requirements and criteria for property search as specified by the buyer
3. International Provisions: Additional terms and requirements for international buyers including currency provisions and overseas communication
1. Schedule of Fees: Detailed breakdown of all possible fees and charges including payment terms and conditions
2. Property Requirements Schedule: Detailed specifications of property being sought including location, size, price range and special features
3. Service Level Agreement: Detailed service standards and response times for various aspects of the service
4. Complaints Procedure: Process for handling disputes and complaints including escalation procedures and timelines
Relevant legal definitions
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