Terms and Conditions
1. The definitions and rules of interpretation in this clause apply in these terms and conditions:
a. PID: means Property Investment Direct, a trading style of Environmental Assets Ltd, company incorporated in England and Wales (company number 08145703) whose registered office is at Towers Business Park, Wilmslow Road, Didsbury, Manchester M20 2YY.
b. You: means the person, firm or company who engages the services of PID to search for and identify properties and Your shall be construed accordingly.
2. You are under no obligation to purchase property through PID. However, You authorise PID to contact You when suitable property opportunities arise.
3. A non refundable reservation fee of £1,000 is payable by You to PID on reservation of a property.
4. A non refundable finder’s fee of 3% + VAT of the purchase price is payable to PID on reservation of a property. The minimum finder’s fee chargeable is £3,000 + VAT. The finder’s fee may be transferred towards the finder’s fee of an alternative property subject to the payment of an administration fee of £1,000 + VAT payable to Instant Property. The finder’s fee may only be transferred once. You acknowledge and agree that the finder’s fee is the commission You have to pay to PID for sourcing the property and negotiating the incentives / discount with the vendor. If negotiations take place after reservation and a further discount off the purchase price is achieved, the finder’s fee charged at reservation is still applicable.
5. If You exchange contracts or enter into a legally binding agreement for the purchase of a property introduced to You by PID within one year of the said introduction, You shall pay Instant Property an introduction fee of 3% + VAT of the purchase price of the property. For the purposes of this clause introduced to You by PID.
6. You shall:
a. not contact a developer, vendor or any of its agent regarding a property You have been offered by PID other than to confirm specific information such as floor plans, sizes and specifications etc and only with prior written authorisation from PID; and
b. in accordance with anti money laundering regulations supply photographic identification and proof of address to PID, Your solicitors and Your mortgage brokers immediately after reservation of a property.
7. You acknowledge and agree that :
a. all information sent to You by PID is private and confidential and should not be discussed with any third party unrelated to the agreement between You and PID;
b. not all the properties introduced by PID will match Your requirements in every respect;
c. a property may be withdrawn from the market before You receive details of it from PID;
d. the details contained in any information provided to You are for guidance only. Any photographs, floor plans, sizes and specification are subject to changes and only give a general indication of a property;
e. a seller/vendor may increase the price of a property at any time;
f. You shall satisfy yourself as to the correctness of any information provided by Empire and/or Instant Property before purchasing a property;
g. neither Empire nor Instant Property offers any legal, surveying, financial, tax, accounting or other specialist advice;
h. PID have recommended that You take appropriate legal and other advice and to use the services of solicitors, surveyors, valuers, financial advisers and other specialists, for whose fees You are solely responsible;
i. the choice of property is Your responsibility;
j. You should declare all the incentives You are to receive or have received in connection to the purchase of a property to any mortgage lender. You acknowledge and understand that a lender might reduce the amount You can borrow based on the incentives You are to receive or have received; and
k. exchange of contracts must take place no later than 28 days from receipt of contract from Your solicitors. Failure to do so could result in the vendor withdrawing a property and Your reservation fee being lost.
m. When using the panel of recommended brokers & solicitors, they forward us a fee. This fee is paid to us for organising & packaging the deal on behalf of you.
8. Payments of any incentives by PID can take up to 10 days to reach Your bank account from the date of completion of the purchase of a property. Should You require a same day payment on the date of completion, You should inform PID in writing prior to the date of completion enclosing a non-refundable fee of £20.
9. PID shall endeavour to ensure that all information passed to You about any property is accurate and does not mislead. However, PID are not responsible for the accuracy of any information provided to PID by the sellers of properties or their agents or for the accuracy of any entry in any public register, and shall not be liable for any loss or damage resulting from the inaccuracy of any such information. PID shall use reasonable endeavours to highlight any material inaccuracies of which it or they are aware, but shall not verify any information provided to it or them unless instructed by You to do so.
10. PID give notice and You acknowledges that, in respect of any particulars of a property provided to You
a. the particulars do not constitute any part of an offer or a contract;
b. all statements made in the particulars are made without responsibility on the part of the PID or the seller;
c. none of the statements contained in the particulars is to be relied on as a statement or representation of fact;
d. the seller does not make or give, and neither PID nor any person in its or their employment has any authority to make or give, any representation or warranty whatsoever in relation to the property.
11. While PID make every endeavour to recommend only reliable and reputable providers of such services as finance, legal, surveying or any other associated services, PID shall not be held responsible or liable for any loss or damage resulting from such recommendations. All contracts for such services shall be between You and the service provider in question, and PID shall not be liable for any loss or damage arising from such contracts.
12. Except in the case of death or personal injury caused by PID’s negligence, the liability of PID under or in connection with these terms and conditions whether arising in contract, tort, negligence, breach of statutory duty or otherwise howsoever shall not exceed the fees paid or due to be paid by You to PID under these terms and conditions. The provisions of this clause 12 shall not apply to clause 15
13. Except in the case of death or personal injury caused by Instant Property’s negligence, the liability of PID under or in connection with the these terms and conditions whether arising in contract, tort, negligence, breach of statutory duty or otherwise howsoever shall not exceed the fees paid or due to be paid by You to Instant Property under these terms and conditions. The provisions of this clause 12 shall not apply to clause 15
14. No party shall be liable to any other party in contract, tort, negligence, breach of statutory duty or otherwise for any loss, damage, costs or expenses of any nature whatsoever incurred or suffered by that other party of an indirect or consequential nature including without limitation any economic loss or other loss of turnover, profits, business or goodwill. The provisions of this clause 14 shall not apply to clause 15.
15. You shall indemnify and hold harmless PID from and against all Claims and Losses arising from loss, damage, liability, injury to PID, its or their employees and third parties, by reason of or arising out of any act, omission, delay or representation made by You, or in relation to any false or erroneous information provided by You to PID. For the purpose of this clause ‘Claims’ shall mean all demands, claims, proceedings, penalties, fines and liability (whether criminal or civil, in contract, tort or otherwise); and ‘Losses’ shall mean all losses including without limitation financial losses, damages, legal costs and other expenses of any nature whatsoever.
16. Each of the parties acknowledges that, in entering into the agreement, it does not do so in reliance on any representation, warranty or other provision except as expressly provided in these terms and conditions, and any conditions, warranties or other terms implied by statute or common law are excluded to the fullest extent permitted by law. Nothing in these terms and conditions excludes liability for fraud.
17. PID reserve the right to terminate its or their relationship with You by written notice at any time.
18. You have the right to terminate the relationship with PID by written notice at any time providing you have not already reserved a property through PID. Should You have already reserved a property through PID, You have the right to terminate the relationship but only once the said property has been completed and providing no payment is outstanding.