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TERMS AND CONDITIONS

Terms and Conditions

Our terms and conditions of trading

These are the terms and conditions of trading of Prospect Holdings (Reading) Limited. In this document, "we" or "us" refers to Prospect Estate Agency.

Registered in England and Wales as company number 07005392.
Our VAT registration number is 980 7306 07.
Our registered office is at 24 King Street, Reading, Berkshire, RG1 2HE

Farnborough 0% Commission Offer 2019

Sales

  • 0% offer starts on Monday 9th September.
  • No commission will be charged to the Property Owner for the sale of the property, provided the property is placed on the market by 6.30pm on Monday 21st October 2019.
  • The property must be within GU14, GU52, GU51, GU11 or GU12 postcode areas.
  • The offer is available for one property, per property owner unless otherwise agreed at point of initial valuation.
  • You must instruct Prospect Estate Agency under sole selling rights and agree to and sign our standard Terms and Conditions for a minimum of an 8 week contract. This offer does not apply to solicitors’ fees or to the cost of a legally required Energy Performance Certificate (EPC).
  • This promotion is for new instructions to the market and ends at 6.30pm on Monday 21st October 2019. Thereafter our standard fees of 2.5% for sole selling rights or 3% for multi-agency will apply.
  • VAT will be applied on any applicable Prospect fees.
  • You must permit us to display a Prospect Estate Agency, or a Prospect Homes of Distinction, ‘For Sale’ board at all times and then ‘Sold Subject to Contract’, until completion.
  • Applicants must be a minimum of 18 years old.
  • Prospect Estate Agency reserves the right to decline an Instruction.

Lettings (Property Management)

  • 0% offer starts on Monday 9th September.
  • The Letting 0% Commission applies to our Partial Managed Service and our Fully Managed Service only. The 0% commission offer does not apply to our Let Only Service.
  • 0% offer applies for initial 6 months after a let has been agreed. After the initial 6 months, you will be subject to our standard fees.
  • If your tenant vacates the property within the 6 month offer period and you need to re-let, the re-let will not qualify for our 0% offer.
  • To be liable for 0% commission the property must have been placed on the market by 6.30pm on Monday 21st October 2019.
  • This promotion ends at 6.30pm on Monday 21st October 2019. Thereafter our standard fees will apply of Partially Managed Service - 12% (14.4% inc VAT), Fully Managed Service - 15% (18% inc VAT)
  • The property must be within GU14, GU52, GU51, GU11 or GU12 postcode areas. You must permit us to display a Prospect ‘To Let’ board at all times and then ‘Let Agreed’, until completion.
  • Offer excludes charges for: Check in/Check Out/Inventory, EPC’s and any other 3rd party costs.
  • Renewal fees will revert to our standard rates as described below.
  • All Tenants will be subjected to our standard, stringent Prospect Referencing Process.
  • VAT will be applied on any applicable Prospect fees.
  • The Property Owner and Tenants must be a minimum of 18 years old.
  • Prospect Estate Agency reserves the right to decline any Instruction.

3 Months Free Property Management 
Lettings (Property Management)

  • To be entitled you must transfer your full portfolio of Rental properties to Prospect Estate Agency.
  • You must instruct Prospect Estate Agency under sole agency basis and agree to our standard Terms and Conditions.
  • Offer is only available upon instruction of full portfolio of properties under our ‘Full Management Service’ at our standard fees of 18% inc. VAT.
  • Upon claiming offer, client will receive 3 months free Property Management under the contracted service level.
  • Renewal fees will revert to our standard rates as described above.
  • This offer does not apply to the cost of a legally required Energy Performance Certificate (EPC)
  • This offer does not apply to the cost of a legally required Gas Safety Certificate.
  • This offer does not apply to the cost of any legally required documents.
  • You must permit us to display a Prospect Estate Agency, or a Prospect Premier Homes of Distinction, ‘To Let’ board at all times and then ‘Let Agreed’, until completion.
  • All Tenants will be subjected to our standard, stringent Prospect Referencing Process.
  • Applicants must be a minimum of 18 years old.
  • Prospect Estate Agency reserves the right to decline an Instruction.
  • Terms and conditions are subject to change at anytime

Help to Buy

The Help to Buy scheme has specific terms and conditions and is subject to affordability criteria as defined by the Homes and Communities Agency. Help to Buy equity scheme is available on all plots in England, with a full purchase price up to £600,000, subject to status, terms and conditions apply.

  • The New Home Developer must be registered with the 'Help to Buy' scheme for it to be available to purchasers.
  • Help to Buy eligible applicants will be offered an equity loan of up to a maximum of 20% of the purchase price (based on the open market value). The registered provider will hold the second charge on the property.
  • Applicants are required to fund at least 80% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a qualified lending institution (e.g. a bank or building society). For the first five years there is no fee charged on the equity loan component.
  • At the start of year six a fee is collected of 1.75% of the market value of the property at the time the loan is entered into multiplied by the outstanding percentage under the equity loan, the annual fee of 1.75% will be uplifted by RPI +1% p.a.h

Money Back to Schools T&Cs

  • To qualify for this promotion you must sell your property with Prospect Estate Agency
  • You must declare you wish to participate in this promotion at the time of arranging your valuation of your property, including which school you would like to donate the monies too
  • If a valuation is arranged via prospect.co.uk the declaration of promotion must be made when first speaking with a Prospect Agent
  • Your property must be based in Berkshire, Surrey or Hampshire to qualify for this promotion Prospect Estate Agency will donate £250 via Bank Transfer to your child’s school or a local school PTFA of your choice upon completion of your property and receipt of our selling fee
  • The nominated school must agree to marketing of the donation, which may include photo opportunity presenting the donation by cheque
  • Donations are limited to one donation per seller, per annum
  • Promotion currently has no end date, however Prospect reserves the right to add an end date at any stage
  • Should an end date be included within the promotion, Prospect Estate Agency will adhere to all donations previously agreed, should all other criteria be met
  • Prospect reserves the right to decline any valuation and/or instruction

Deposit Replacement Insurance

  • For properties where Prospect Estate Agency’s deposit replacement scheme will apply, Prospect Estate Agency shall be responsible for:
    a. collection of the rent; and
    b. management of the tenancy deposit (if taken); and
    c. management of the collection of sums due from the Tenant to the Landlord, as compensation for any breach of obligation within the tenancy agreement.
  • Such properties will be insured under Prospect Estate Agency’s Deposit Replacement Insurance policy with Goodlord at commencement of a new tenancy or renewal of an existing tenancy.
  • The tenant remains fully responsible for the payment of the rent, liability for any breakages, losses or damage (allowing for fair wear and tear) to the Landlord’s property arising from their occupation of the property, and any other reasonable costs incurred by the Landlord as a result of the Tenant’s breach of the tenancy agreement.
  • The Tenant remains fully responsible and liable for any of the Landlord’s reasonable costs arising from clause (iii) hereof to carry out remedial works, repairs or replacement, including cleaning, as required at the end of the tenancy to return the property to the Landlord in accordance with the obligations of the tenancy agreement, whether or not a deposit has been taken.
  • In the event that a Deposit has been taken and protected in accordance with the statutory requirements, in conjunction with Prospect Estate Agency’s deposit replacement scheme, and the deposit is insufficient to cover the Landlord’s costs described in clause (iii) hereof, the Tenant will be held liable for any balance upon termination of the tenancy agreement for whatever reason in respect of any outstanding rent, reasonable pre-agreed administration charges payable under the terms of the tenancy, dilapidations, unpaid utility bills, breakages or losses (subject to reasonable allowance for fair wear and tear) and/or any other reasonable costs incurred by the Landlord as a result of the Tenant’s breach of the tenancy agreement.
  • If the Tenant agrees the amount demanded by the Landlord for sums owing at the end of the tenancy, but does not make payment by the deadline specified in the demand, Prospect Estate Agency will make a claim under its Deposit Replacement Insurance policy as part of its duty to manage the collection of sums due from the Tenant to the Landlord, calculated at the end of the tenancy as compensation for any breach of obligation within the tenancy agreement.
  • If the Tenant disputes the amount demanded on behalf of the Landlord for sums owing at the end of the tenancy, the Tenant will notify Prospect Estate Agency within 7 days of the demand.
  • In the event the Tenant and the Landlord cannot agree the amount owing at the end of the tenancy agreement, both parties agree that the dispute between them will be determined by an independent adjudicator to be appointed by Arc Legal Assistance Limited. The Landlord and Tenant agree to provide written and photographic evidence and other relevant documentation in support of their position to the adjudicator within the timescales set out by the adjudicator.
  • In the event the adjudicator upholds the claim wholly in favour of the Landlord, if the Tenant does not pay the sums owed within 7 days of the adjudicator’s decision being issued, Prospect Estate Agency will compensate the Landlord by making a claim under the Deposit Replacement Insurance policy.

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