Terms and Conditions of Your Guarantee.
If you are Serious about Selling and are Motivated to do so, then this Guarantee is for you!
- If you’re just dreaming, this is not for you.
- If you’re looking to test the market at our expense, this is not for you.
- If you are just trying to sell overpriced property well above its market value, this is not for you.
We are happy to market your property at a much higher price than market value but there will not be a guarantee in place.
Under the terms of this agreement, within the period of the Sales Agency Agreement between you and Plaza Real Estate, which is for 3 Months and/ or extension thereof.
We Offer You This Guarantee:
Provided the following conditions have been met and a Guarantee of Sale Agreement signed at the time of Sales Agency Agreement being made.
Conditions of Guarantee
- Value is independently calculated as agreed either by:
A) A current Written Sworn Market Valuation for Selling Purposes or
B) RPData Automated Valuation Report (AVR) or
C) An Agreed Realistic Asking Price based on Sales Data
- Vendor commits to fully invest in the comprehensive SET DATE SALE SYSTEM or an AUCTION Campaign with the appropriate marketing program.
The Guarantee does not include the Partner Program.
The Guarantee does not apply to: Mortgagee, Trustee, Corporate Sales nor Trade Exchange Fee including Bartercard, BBX & others.
The Guarantee does not apply where a Recession is called nor a major Economic downturn eg Pandemic
- The vendors’ property is thoroughly prepared for sale and fit for presentation, including recommendations made by us before marketing starts as well as completing written recommendations based on feedback throughout the marketing period.
- The vendor warrants the property is in good saleable, approved condition.
- Open Inspections are held regularly and Inspections By-Appointment are made readily available even at short notice.
- An offer is considered to have been made with the issue of written notice showing the offer and details of parties making the offer.
- The vendor is not obliged to accept any offer.
However, should the vendor refuse an offer A) above the Market Valuation or B) At/ above the lower end of AVR then guarantee becomes void.
- An accepted offer is considered ‘Sold’ under the terms of this guarantee. A sale which subsequently ‘falls over’ due to events beyond our control will void this guarantee.
- The Marketing Levy, Administration Fee & Auctioneer Fee (If Auction) is payable regardless of a sale or not.
- We guarantee our service but not events beyond our control.
However, if you believe you still got real value from working with us you can still decide to pay us in full for a Successful Sale beyond 90 days, or a percentage of what you believe has been of value, to get you to your goal or destination.
Definitions Within Guarantee
10% Price Range
In SA the Price Range cannot exceed 10%. The Advertised Price or Range will include the Market Valuation as the Asking Price or Low Point of the Range or The Lower end of the AVR Range becomes the Vendors’ Selling Price to allow a 10% Range above this to allow for Asking Price purposes. Vendors agree that the Asking Price/ Range will need to be adjusted as required by the agency to attract offers. That is, if no or few offers are made, the price will need to be adjusted. If no price adjustment is made, Guarantee is void.
The fee charged by the agent to set up, arrange sales file and systems. It is payable by the vendor whether the property sells or not.
A Fee charged by Auctioneer to prepare for and conduct an Auction. It is payable by the vendor whether the property sells or not.
Condition of Property
Unless otherwise advised and priced accordingly. The property is free from known/ unknown major problems, including building defects, white ants, structural defects, costly fixes. That is all structures have the necessary building and council consents.
If the sale ‘falls over’ due to the property condition, then guarantee is void.
Subject to Change based on Location even in Metropolitan Area.
Metropolitan Property 90 Days, Metropolitan Land 180 days, Country Property 180 days, Country Land 270 days.
Includes advertising, marketing and promotion from the initial marketing period through to the end of the Sales Agency Agreement (and/ or extension thereof) unless sold earlier.
The guarantee period begins on the day of the first open inspection. Marketing days during major holidays or events are not included in the nominated marketing day’s total. (E.g. Public Holidays 1 day each, Easter 7 days, Xmas 14 days are not counted.) And will allow extra days to this guarantee.
If the vendor withdraws the property for sale for any reason at any time prior to the expiration of the Sales Agency period then the guarantee becomes void and marketing levy is payable in full. The guarantee expires with the Sales Agency Agreement listing authority. Any cancellation of an Open will allow 7 extra days to this guarantee.
Marketing Program/ Marketing Levy/ Marketing Fee
Includes mutually agreed marketing and/ or advertising costs specified in the sales agency agreement. The marketing expenses are a levy and the total amount is payable irrespective of whether the full expenses have been incurred or not.
This includes any offer made or attracted during the initial guarantee period (whether verbal or written) but not finalized until after the initial period. This includes an accepted offer even if the Contract or Form 1 documents are not drawn up.
For example – An offer made at day 70, though not finalized until day 100. The obligations of the guarantee are deemed to have been met.
Also known as the Selling Fee. Includes commission as a percentage or as a whole payable by you the vendor for a successful sale of your property. Professional Fee or Base Professional Fee is the normal full percentage fee without bonus
A Fee charged by Valuer to do the valuation in addition to costs of ARE, CT and any necessary additional costs to produce the valuation.
This fee is payable by the vendor whether the property sells or not.
We’ll Guide You Home!
To find out more, you’re welcome to call 08 83961100 to arrange a chat with people that care.
Alternatively, Book a Free Consultation or Get Your Home Value Here. You’ll be in Safe Hands!
Feel free to browse the rest of our Blog for more tips tricks and helpful info you can use.
Not sure of some of the terms & meanings used? Check our comprehensive Glossary, Abbreviations and FAQ’s!
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Regards Eriks & Team Plaza Real Estate