Buying Service Terms & Conditions

Right to Cancel

You have the right to cancel this contract under the Consumer Contracts (Information, Cancellation and Additional Charges) regulations 2013 within 14 calendar days from which is has been signed. Any notice to cancel should be in writing and submitted to us at sales@mishonwelton.com The cancellation date will be the date of receipt of the email notice to cancel. If we have introduced you to a buyer prior to receiving any cancellation notice you may still be liable to pay our fees.

Scope of Buying Service

I agree and understand the scope of services provided by Mishon Welton as described on their website

I appoint Mishon Welton to act as my buying agent to source and acquire a suitable property on my behalf

I instruct Mishon Welton to act on my behalf during any property negotiations with any vendors or their agents

I permit Mishon Welton to discuss the transaction details of any property as necessary with any parties related to the transaction

I agree not to directly approach or deal with any vendors, their agents or properties that have been introduced via Mishon Welton

This may include any other appointed or related 3rd parties such as solicitors, bankers or accountants

I understand the minimum investment criteria for this service is £250,000

I understand that there is no guarantee a suitable investment property will be found

I understand this is an investment and may not perform to expectations

I agree not to hold Mishon Welton liable for any purchase decisions I make

I agree not to hold Mishon Welton responsible for investment performance

I agree not to seek recourse for compensation under any circumstances

I understand I am under no obligation to use any of the suppliers or partners recommended by Mishon Welton

I agree not to hold Mishon Welton liable for any advice received via 3rd parties whether recommended or independently appointed

I understand my purchase is subject to Money Laundering Regulations and agree to comply as necessary

I agree to provide Mishon Welton with any necessary personal information required for property purchase or money laundering checks I agree that Mishon Welton reserve the right to withdraw their service at any time by providing written notice

I understand and agree that any termination of services from Mishon Welton or any of it’s subsidiaries will be provided in writing

I have read and agree to Mishon Welton’s User Agreement and Privacy Policy as show on their website

Buying Agency

Where Mishon Welton act on your behalf as your buying agent, you will be liable to pay remuneration to us, in addition to any other costs or charges agreed, if at any time unconditional contracts for the purchase of a property introduced by us are exchanged, during the period of our buying agency service or with whom we had negotiations about the property during that period; or with a vendor introduced or offering via another agent during that period. Our Buying Agency instructions are subject to a minimum term of 12 weeks from the date of signing. Either party may terminate such a contract by giving two weeks notice in writing to your immediate Account Manager. Such notice cannot be served prior to the tenth week of instruction due to this minimum period.

Multiple-Agency

Where Mishon Welton is instructed along with other Agents, you will be liable to pay remuneration to us, in addition to any other costs or charges agreed, if at any time unconditional contracts for the purchase of the property are exchanged with a vendor or their agents introduced by us; or with a vendor or their agents, to whose attention we brought the availability of the property. A multiple-agency instruction can be terminated at any time by either party giving two weeks notice in writing. 

Sub Instruction

Mishon Welton reserve the right to sub-contract other agencies at any time during our agency if we consider that this would be in your best interests. This will not involve any other costs and all viewings and negotiations will be co-ordinated by Mishon Welton at no additional cost to you.

Fees Payable

Mishon Welton fees are calculated as a percentage (%) of the purchase price. As Mishon Welton fees are based on a percentage of the purchase price, should this be higher or lower than the sales asking price, Mishon Welton fees will be correspondingly higher or lower. For Buying Agency instructions this percentage is at a rate of 2.4% which includes 20% Value Added Tax. All Buying Agency fees are subject to a minimum fee of £3,000 including VAT. (£2,500 + VAT).

Responsibility of Fees

The responsibility for payment of fees remains with the parties named on the buying agreement document. Mishon Welton will be entitled to a commission fee if you terminate this contract and go on to buy a property from a vendor that Mishon Welton had introduced within 6 months of the date Mishon Welton‘s instruction ended. However, Mishon Welton will give up it’s rights and commission fee if the buyer was introduced by another agent more than 6 months after Mishon Welton’s instruction ended. If no other Estate Agent or Vendor is introduced, this time limit will not apply. There may be a dual fee liability if:

a)The buyer has previously instructed another buying agent to buy the same property whether on a sole or multiple agency basis or

b)The buyer instructs another buying agent during or after the period of Mishon Welton’s agency has commenced

If for any reason the listing agent approaches the client directly and bypasses Mishon Welton, our fee is still payable.

Time and Payment of Fees

All Mishon Welton fees become due and payable upon exchange of contracts. However, and at the discretion of Mishon Welton, fees may be paid out of completion monies. On signing this document you are here by authorizing your solicitors to pay our buying fees.

We reserve the right to change interest from the date of exchange of contracts on any amounts still outstanding after 28 days after Mishon Welton 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.

Connected Persons

As required by Section 21 of the Estate Agents Act 1979, unless specifically stated otherwise, we are not aware of any personal interest existing between ourselves or anyone we employ or connected person(s) and yourself(ves). If you are or become aware of such an interest you should notify Mishon Welton immediately.

Complaints procedure

Should you have any problems with Mishon Welton’s service which you are unable to resolve with your Account Manager, then you should write to us at our address below. This complaint will be acknowledged and an investigation undertaken. A formal written outcome of the investigation will be sent to you in writing. Alternatively, you can contact the property ombudsman for a review.

Data Protection and Privacy Policy

Mishon Welton is registered under the Data Protection Act 1998 and we undertake to comply with the Act in all of our dealings with your personal data. We will keep your personal information secure. Occasionally, we may contact you by letter, telephone or 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 please email us at sales@mishonwelton.com stating your wish for us to remove your details.

Disclosure

It is a requirement of this agreement that should an offer be agreed privately, or via another Estate Agent, the buyer must disclose to Mishon Welton the identity of the vendor prior to exchange of contracts. 

Jurisdiction

The High Court and County Courts of England and Wales shall have jurisdiction to hear and determine any action or proceedings in respect of this agreement. 

Entire Agreement and Variations

This contract constitutes the entire agreement between Mishon Welton and the buyer 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 at Mishon Welton.

High Net Worth Declaration

I declare that I am a certified high net worth individual for the purposes of the Financial Services and Markets Act 2000

Under the Financial Promotion Order 2001, I understand that this means that I can:

(a)Receive financial promotions that may not have been approved by a person authorized by the FSA

(b)the content of such financial promotions may not conform to rules issued by the Financial Services Authority

(c)by signing this agreement I may lose significant rights

(d)I may have no right to complain to either the Financial Services Authority or the Financial Ombudsman Scheme

(e)I may have no right to seek compensation from the Financial Services Compensation Scheme

I confirm that I am a certified high net worth individual because at least one of the following applies:

(a)I had, during the financial year immediately preceding the date below, an annual income of £100,000 or more

(b)I held, throughout the financial year immediately preceding the date below, net assets to the value of £250,000 or more. Net assets for these purposes do not include –:

(i)the property which is my primary residence or any loan secured on that residence

(ii)any rights of mine under a qualifying contract of insurance within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001; or

(iii)any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependants are), or may be, entitled

I accept that I can lose my property and other assets from making investment decisions based on financial promotions I am aware that it is open to me to seek advice from someone who specializes in advising on investments.