Resale Property: Terms and Conditions

1. The Agent will provide a re-sale service for the listed property. No initial fee is payable. Fees are only payable on sale of the property.  
2. This agreement can be terminated by either party by providing two weeks written notice. Fees will be payable by the Vendor on any sales in process for clients introduced by the Agent that successfully conclude after this period.  
3. The Agent will charge a commission of 5% of the contracted sale price (subject to a minimum fee of €10,000). VAT will be added to all fees where applicable. 
4. The Vendor will be liable to pay commission to the Agent where a sale is completed with any prospective purchaser introduced by the Agent during the period of this agreement. A purchaser is deemed to be introduced by the Agent if the Agent has conducted an accompanied first viewing of the property with the purchaser. Any commission remaining due will be payable on completion of the transaction at the notary. The Vendor agrees to instruct their solicitor to make any payment due to the Agent at this time. Interest will be charged at 5% above the ECB bank rate on any late payment. Any collection or solicitor fees incurred by the Agent in obtaining late payment will be charged and payable by the Vendor. 
5. The Vendor remains responsible for all repairs and maintenance of the property during the period it is listed with the Agent.
6. The vendor is responsible for all fees connected with the sale of the property. The Vendor will take such costs into consideration before pricing the property for sale. As a guide for the costs of selling a property in Spain please see: Guide to Selling Costs in Spain.
7. Where a sale is agreed on the property the Agent will take an initial non refundable deposit (between €5,000 and €10,000) from the purchaser. The Agent will retain this deposit in advance of commission payable on successful sale to this purchaser. In the unlikely event the purchaser withdraws from the transaction, in breach of the reservation agreement, then the Vendor will receive 50% of the deposit, the balance being retained by the Agent for time and expenses incurred.