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Open Mandate - Agent
Property Law
- Non-Exclusive Selling Rights: This open mandate structure allows the seller to engage multiple agencies or sell the property privately without being restricted to a single service provider.
- Performance-Based Commission: Agency commission is only deemed earned once all suspensive conditions are fulfilled, ensuring payment is contingent on a successful sale.
- Statutory Property Disclosure: The agreement includes a Mandatory Disclosure Form as required by the Property Practitioners Act to ensure full transparency regarding the property's physical condition.
- Marketing and Access Permissions: The agency is granted specific rights to display advertising boards and provide prospective buyers with reasonable access for viewings.
- Liability Protection: The contract includes an indemnity clause that protects the agency against claims resulting from the seller's failure to disclose known property defects.
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