Wednesday, October 3, 2018

Brokerage Service Terms

Welcome to Zone Enterprises!

Thanks for using our services. The Services are provided by Zone Enterprise whose office is located at Sinhagad Road Pune.

Zone Enterprises deal in commercial and industrial properties for sale & rent in Pune and nearby.

Zone Enterprises is proprietary estate consultancy  which is

Registered in RERA
Registered GST
Register Member of Realtors Estate Association of Pune (REAP)

By using the Service Terms ,the buyer & seller agree to these terms. Please read them carefully.

The terms "Buyer" will be called to the person who wants to take on Rent/Lease or want to purchase the property.

The term "Seller" will be called to the person who wants to give on Rent/Lease or want to sale the property.

The term "other side" refers to buyer is the agreeing party is seller and vice versa

Similarly the term "purchasing" referred to the act of taking the property on Lease/rent or purchase of the property.

 And the term "selling" referred to the act of giving the property on Lease/rent or selling of the property.

The Term "Broker" if used separately may be used to refer Zone Enterprises. The word brokerage is used to refer the Fees of Zone Enterprises.

The Buyer & seller  have opted to choose the service of Zone Enterprises by giving the information in the above form of  who are the real estate consultants.

1 A real estate broker or real estate agent or real estate consultant is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy.

2 In context of purchasing/selling or leasing of  property requirement the Buyer/Seller  have approached Zone Enterprises or vice versa  to assist in offering their services.

3 Buyer and Seller agree that Broker will assist Buyer as a transaction broker. That is the broker is the deal coordinator and middleman.

4 The Buyer/Seller agree that they themselves have provided our landline ,mobile number and email id to zone enterprises and Zone enterprises are free to call them or sms/whatsapp at any time regarding the property matters. This is the specific clause Buyer/Seller  are agreeing even if their Phone number is registered as DND.


TERMS OF OUR SERVICES

As mentioned Zone Enterprises is not the sole agent of Buyer or seller, Zone Enterprises charges the brokerage from both the Buyer & Seller as following after the agreement is registered.
The brokerage charged for Purchase of the property is 2%
For Rent/Lease deed less than 3 years registered agreement the brokerage charged is 1 month Rent.
For Rent/Lease deed more than 3 years registered agreement the brokerage charged is 2 month Rent.
The 30% of the brokerage is paid to Zone Enterprises at  the time of paying the initial token by both the parties. Balance brokerage payment is to be done at the time of signing of agreement or giving the possession of property whichever is earlier.
GST is applicable as extra as per Govt norms on the brokerage paid.


 OTHER EXPERTISE FOR THE DEALS:

1 Buyer & Seller agrees that Broker is not an advocate or Legal consultant. The broker cant himself draft the  agreement nor the broker can give his opinion about the title of the property. Both the parties may hire their individual legal consultants if required for the legal issues. The property agreement formats if provided by Zone Enterprises are just for the reference purpose and should not be used as it is to make the transaction agreement.

2 Buyer & Seller agrees that Broker is not aware of about the Govt Taxation issues against the transaction of the property.


ETIQUETTE  WHILE TAKING BROKER SERVICES

1 The Buyer/Seller shall not exchange the visiting cards,contact number with each other or their representatives during site visits and meetings till agreement is registered and brokerage is paid.
  If the other side  offers/ask the card or phone number refuse it politely and refer to broker.

2 Will not meet the other side or its representative in absence of the broker.

3 Keep the mobile conversation quick and short during site inspection & property meetings.

4 The broker is always there to help and coordinate with buyers & sellers. 

 
OTHER ASPECTS OF TAKING THE SERVICES

1 It is not the responsibility of broker regarding the title of the property.

2 The quality of construction does not come under the scope of deal.

3 It is advisable that both the buyer and seller should make the payment upfront at the time of                agreement. Zone Enterprises suggests not to accept the post dates cheque.

4 Zone Enterprises suggests to give and take the final payment by Bank Demand Draft/Pay order
        only.

5 Zone Enterprises collect the final brokerage fees at the time of signing the agreement.

6 The Buyer and seller is aware of fact that a legal action will be initiated if the  brokerage is not             paid within 3 days after signing of agreement.

7 Both the buyer and seller agrees that the broker is just the mediator and can’t guarantee to                    match the expectations of sellers and buyers in term of prices & other terms.

8 Withholding the brokerage or negotiations of the brokerage terms after the showing the property          is not at all acceptable.

9      The broker insist to do the entire transaction through the bank instruments like demand                        draft,pay order or cheque and not use the cash.


PRIVACY  &  CONFIDENTIALITY

The buyer and seller are supposed to keep the transaction fully confidential unless and until the agreement is registered and the brokerage is completely paid.
If the information regarding the deal is leaked during the course of transaction, it may incur losses to buyers and sellers.

LIABILITY TO OUR SERVICES

The broker requests the buyer to accompany themselves or their trusted representatives during the site inspection. This is to ensure that there is not any loss or damage done to the property at the time of site inspection.

SITE VISIT & PROPERTY INSPECTION

The broker or his representative may take the pictures/videos of buyer/seller in the property where the site inspection is carried out  or during the meetings .This is necessary to create the legal record which proves that the site inspection is arranged by the broker.This is required in case any disputes arises further.

EMAIL PROJECT DETAILS BEFORE SITE VISIT
Sometimes it may happen that buyer require the brochure of property,its google location or address ,or the developers name etc before site visit.
The Buyer hereby agrees that if any of the above details are mailed to him and if the buyer contacts the seller in absence of the broker in mala fide intention of avoiding the brokerage,in that case twice the brokerage charges will be applicable.
In case he has already received the same property earlier though other sources then he will have to show the email communication or other electronic  communication where time and date stamp is present.


MODIFICATION REQUEST FOR SERVICE TERMS

If you Feel  to modify any of the service clause, kindly send the mail to z.propdata@gmail.com mentioning what exactly is your concern and explain clearly what you intend to say. You can send the mail after you submit the form.
 In absence of the mail it is assumed that the above Terms are acceptable to you.
Any change in service terms has to communicated and accepted by broker  before the site inspection or before  receiving property details on email.