Our Terms
Madras Estates (India) is built to ensure the results by rendering Professional Reality Services from Project Inception to End and hence we committed to facilitate Our Clients to give Turn Key Solutions from Proposals to Sale Closure;
Our Terms on Purchase of Estates, Madras Estates (India) Estates Agents Well trained executives are committed to below;
The Scope of work shall be as below:
- Prepare Information Memorandum about the prevailing suitable properties.
- To Schedule the Site Visits of the shortlisted Options at Mutually Convenient day/time.
- To Schedule appointments with respective Seller for Site Inspection.
- Assisting in final negotiations and receiving final offer
- Assist in negotiating on commercials, deal processing and closure.
- Coordinate for detailed due diligence and transaction documents to prospective Seller.
Above Services are Value added to the Client for purchase of property and Madras Estates (India) Estate Agents will be on standby to assist the transaction at any movement till Sale Deed closure of the Said transaction.
The Client hereby confirms that they maintain exclusivity on those Properties showcased & inspected through Madras Estates (India) Estate Agents and not entertain other Estate Agent to involve on those options to create ambiguity.
The Client hereby confirms that it is their personal choice to operate independently on the Closure Process & should not blame Madras Estates (India) Estate Agents for any reason. Madras Estates (India) Estate Agents take full responsibilities of the Sale Proceedings until otherwise there is non-co-operation from the Client;
Madras Estates (India) shall not be responsible at any time for any advice including any legal/financial advice in respect of the premises or any transaction between the buyer/seller/third party and the Client shall be responsible for the due diligence of the same at all times
In consideration of the services provided by Madras Estates (India) will charge brokerage fees as per the table shown below;
|
> 25cr |
2% |
|
25cr < 50cr |
1.5% |
|
50cr < ∞ |
1% |
The Above fees is form the total sale consideration (Sale consideration shall mean and include the combination of any other charges as per agreement to sale between the parties). The fees payable to Madras Estates (India) will be exclusive of all taxes, levies, duties and cess. The fee shall be due immediately on Closure of definitive Sale Deed registration with the Seller. The fee will be paid to Madras Estates (India) within 15 days from the date of invoice until otherwise mutually agreed. Definitive Agreement for the purpose of this engagement letter shall mean the Sale Deed or any Deed /understanding by whatever named called executed/to be executed between Client and the Seller mentioning the transaction and the understanding between the parties. In an event of any non-payment, Madras Estates (India) shall charge Penalty @14% per annum for every day of delayed payment. The brokerage fees paid to Madras Estates (India) shall not be refunded or adjusted in any circumstances. Neither party shall be liable to the other for any claims, losses, nor damages arising out of the services provided under this letter except for the non-payment of fees as specified herein.
Either Party can terminate the Service by giving prior written notice of 30 (Thirty) days. Upon termination, Madras Estates (India) shall be entitled to receive all the dues and/or outstanding amounts immediately on the day of termination. It is hereby agreed by the Client that for transactions initiated prior to the termination of this Engagement Letter and 12 months thereafter and where such transactions are successfully closed, Madras Estates (India) shall be entitled to receive the entire fees for such a transaction. In the event that any of the Sellers identified by Madras Estates (India), shows interest to Sell the property even after this engagement letter is terminated, Madras Estates (India) shall be entitled to receive the entire fees for such a transaction. Further, fees specified above are exclusive of any taxes, levies, duties as may be applicable.
The Client agrees not to make any use of the Madras Estates (India) brand, name, trading styles, logos, headed notepaper, trademarks, service marks or any other intellectual property in any manner whatsoever without the prior written consent of Madras Estates (India).
All terms of this Engagement shall be treated as confidential by both the parties.
Madras Estates (India) assures the Client of its best attention in carrying out this assignment from the commencement of the services.
Our Terms on Sales of Estates are Unique & Adept; At all times, the Privacy of Sale will be maintained by our well trained Estates Agents; The information’s pertaining to the Estate will be deemed confidential, right from the time of commencing the Services;
The Scope of work shall be as below:
- Prepare Information Memorandum about the apartments
- Pitching the property to potential buyers
- Conduct Site inspections
- Assisting in final negotiations and receiving final offer
- Coordinate for detailed due diligence and Coordinate for transaction documents to prospective buyers.
- Assist in negotiating on commercials, deal processing and closure
In case of any modification/addition in the services during the term of this Engagement, Madras Estates (India) reserves the right to alter/amend the fees payable accordingly and the Client hereby agrees to pay the revised fees to Madras Estates.
The Client hereby represents and confirms that the titles of the said properties are clear and marketable. And the Client is the owner of the Estate assigned for Services and are sufficiently entitled to dispose the said Property hereby agree to indemnify Madras Estates (India) for any claims of any nature including any third party claims.
The clauses mentioned below shall hold same and good for the all the portions of the properties listed above.
Madras Estates (India) would be allowed entry and access into the Estates at reasonable hours for the purpose of showing these Properties to prospective customers after prior intimation to co-ordinate through the Client’s local representative.
Madras Estates (India) shall not be responsible at any time for any advice including any legal/financial advice in respect of the premises or any transaction between the buyer/seller/third party and the Client shall be responsible for the due diligence of the same at all times.
In consideration of the services provided by Madras Estates (India) will charge brokerage fees as per the table shown below;
> 25cr | 2% |
25cr < 50cr | 1.5% |
50cr < ∞ | 1% |
The Above fees are forming the total sale consideration (Sale consideration shall mean and include the combination of any other charges as per agreement to sale between the parties). The fees payable to Madras Estates (India) will be exclusive of all taxes, levies, duties and cess. The fee shall be due immediately on Closure of definitive Sale Deed registration with the Seller. The fee will be paid to Madras Estates (India) within 15 days from the date of invoice until otherwise mutually agreed. Definitive Agreement for the purpose of this engagement letter shall mean the Sale Deed or any Deed /understanding by whatever named called executed/to be executed between Client and the Seller mentioning the transaction and the understanding between the parties. In an event of any non-payment, Madras Estates (India) shall charge Penalty @14% per annum for every day of delayed payment. The brokerage fees paid to Madras Estates (India) shall not be refunded or adjusted in any circumstances. Neither party shall be liable to the other for any claims, losses, nor damages arising out of the services provided under this letter except for the non-payment of fees as specified herein.
Either Party can terminate the Service by giving prior written notice of 30 (Thirty) days. Upon termination, Madras Estates (India) shall be entitled to receive all the dues and/or outstanding amounts immediately on the day of termination. It is hereby agreed by the Client that for transactions initiated prior to the termination of this Engagement Letter and 12 months thereafter and where such transactions are successfully closed, Madras Estates (India) shall be entitled to receive the entire fees for such a transaction. In the event that any of the Purchasers identified by Madras Estates (India), shows interest to Sell the property even after this engagement letter is terminated, Madras Estates (India) shall be entitled to receive the entire fees for such a transaction. Further, fees specified above are exclusive of any taxes, levies, duties as may be applicable.
The Client agrees not to make any use of the Madras Estates (India) brand, name, trading styles, logos, headed notepaper, trademarks, service marks or any other intellectual property in any manner whatsoever without the prior written consent of Madras Estates (India).
All terms of this Engagement shall be treated as confidential by both the parties.
Madras Estates (India) assures the Client of its best attention in carrying out this assignment from the commencement of the services.
