The Buyer Agency Agreement Form is essential when engaging professional representation for property acquisition in England and Wales. This document formalizes the relationship between the buyer's agent and their client, protecting both parties' interests and clearly defining the scope of services, responsibilities, and compensation structure. The agreement ensures compliance with the Estate Agents Act 1979 and related legislation, while providing a framework for the professional relationship. It's particularly important in complex property transactions where professional representation is crucial for protecting the buyer's interests.
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1. 1. Parties: Identification of the buyer's agent and the client with full details
2. 2. Background: Context of the agreement and general purpose
3. 3. Definitions: Key terms used throughout the agreement
4. 4. Appointment and Scope of Services: Details of agent's appointment and services to be provided
5. 5. Duration: Term of the agreement including start and end dates
6. 6. Agent's Obligations: Detailed responsibilities and duties of the agent
7. 7. Client's Obligations: Client's responsibilities and commitments
8. 8. Fees and Payment Terms: Fee structure, payment schedule, and related terms
9. 9. Termination: Conditions and process for ending the agreement
1. Exclusivity Clause: Additional terms specifying the agent as the sole representative for the client's property search
2. International Property Search: Specific terms and conditions for conducting property searches in international markets
3. Additional Services: Terms covering supplementary services beyond the standard scope of property search
1. Schedule 1: Fee Schedule: Detailed breakdown of all fees and charges including commission rates and payment terms
2. Schedule 2: Service Level Agreement: Detailed specification of services and performance standards expected from the agent
3. Appendix A: Cancellation Form: Standard form for contract cancellation as required by Consumer Contracts Regulations
4. Appendix B: Property Requirements: Detailed specification of client's property search criteria and requirements
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