Buyer’s Advocacy Agreement
The text of an agreement we will ask you to sign before we get started …
|Name:||Morrell & Koren Pty Ltd|
|Address:||650 Chapel Street, South Yarra, Victoria 3141|
|Telephone:||(03) 9826 2222||Email:||enquiry @ morrellandkoren.com|
You have agreed to engage Us to provide the following services (Services) on the terms and conditions set out in Schedule 1 (Terms): · assisting You to identify a property that meets your requirements (where You have not already identified the property); · providing You with a market assessment of properties that You are interested in acquiring; and · providing on-site bidding services and assisting you to negotiate and acquire your selected property. You authorise Us to make binding offers for the property selected by You (Property) up to the maximum price authorised by You from time to time and negotiate the terms of the purchase of the Property on Your behalf. However, We will not make a binding offer for a property that has not been approved by You. When you have selected a property that meets your requirements We will discuss with You what You are willing to pay for the property and the settlement terms acceptable to You. Our fees (Fees) payable on the purchase of a property are calculated as follows: · 1% of the purchase price (where You specify the property in advance and We bid for, or negotiate the acquisition of, the property on Your behalf); or · 2% of the purchase price (2% of the purchase price (where You engage Us to search for a property and to bid for, or negotiate the acquisition of, a property identified by You or Us on Your behalf). Our independence is of paramount importance. We never accept any commissions or fees from third parties in relation to properties that we recommend to You. While we would rather formalise this arrangement with a handshake, please confirm Your acceptance of the terms of appointment by signing where indicated below.
|Signed by You||Signed by Us|
Schedule 1 Terms and conditions 1.1 Subject to law, these terms and conditions (Terms) are the only terms and conditions which are binding upon Us in relation to the supply of Services to You. 1.2 By signing the Agreement, You will be engaging Us to provide the Services on these Terms. The engagement continues until terminated by either party by written notice. 1.3 In consideration for Us providing the Services, You must pay the Fees prior to the settlement of the acquisition of the Property (or on the terms of the invoice provided). You will remain liable for the Fees if the settlement does not proceed for any reason beyond our control. 1.4 If you terminate the Agreement, You will remain liable for the Fees if You enter into a contract to acquire a Property which We have identified within 120 days of the Agreement being terminated. 1.5 Payment is deemed to be made on the date on which We receive cleared funds. 1.6 Our Fees are exclusive of GST (unless otherwise specified) and will be grossed up for GST where applicable. 1.7 Subject to law, We are under no obligation to make a refund to You in relation to the Services and We have no liability (including liability in negligence) to any person for any loss or damage, consequential or otherwise, suffered or incurred by that person in relation to the Services. 1.8 You acknowledge and agree that: (1) We are not providing You with financial advice and You will conduct your own due diligence in relation to the acquisition of a Property; (2) You will not rely on any advice from Us in making Your decision as to whether or not to acquire a Property; (3) We cannot guarantee any financial returns from a Property acquired by You; (4) although We will notify you if We have any concerns about the condition of a Property, We do not warrant the condition of any Property acquired by You and We recommend You engage a qualified property inspector if you have any concerns; (5) any opinions We give are based on our knowledge of the market but We are not licensed valuers and cannot provide You with a sworn valuation of a Property; and (6) You need to get independent advice in relation to the contract of sale for the Property. 1.9 In these Terms: (1) Agreement means the agreement between You and Us to which these Terms are attached; (2) Fees means the fees specified in the Agreement; and (3) GST has the meaning given in A New Tax System (Goods and Services Tax) Act 1999. 1.10 If any part of these terms and conditions, being a whole or part of a clause, is held to be unenforceable or invalid then it is severed without affecting any other part of these terms and conditions. 1.11 A waiver is not effective unless it is in writing. A waiver of a power or right and the exercise of a power or right does not preclude either its exercise in the future or the exercise of any other power or right. 1.12 The law of Victoria governs these terms and conditions and the parties submit to the non-exclusive jurisdiction of the courts of Victoria and the Federal Court of Australia.