Terms & conditions 2017-10-31T16:10:31+00:00

Pennine Ways terms and conditions

 

Getting your property valued

 

We ask that all decision-makers be present at a valuation if possible – however we do understand there may be special circumstances where this is not possible.

 

We offer a no-obligation, verbal valuation service for free. If you need a written valuation, the charge is £250 +VAT. Please contact us for more information.

 

Selling your property

Unlike many estate agents nowadays, we charge NO joining fee. In fact, apart from the cost of your EPC (if you need one), we charge you nothing until we have sold your property. Not sure if you have an EPC already? We can check this out for you, at no charge.

 

 

Tenant information

 

We can reserve a rental property for you for up to three weeks in total at a cost of £100. This puts all future viewings by other prospective tenants on hold until a decision has been reached about whether the property can be offered to you. The reservation fee includes £50 to cover the cost of a credit check (regardless of the number of applicants).

 

If the landlord decides not to offer you the property, the fee will be refunded to you in full.

 

Tenancy agreement fee

This is £120 and covers the cost of preparing all legal documents, including the assured shorthold tenancy agreement.

 

Service charges

Sometimes these are applied, for example where properties have an oil-fired boiler, open fire, multi-fuel stove or private septic tank. Each item may be charged at £8 per calendar month.

 

This fee goes towards the costs of repair and maintenance, new parts, etc.

 

Landlord information

 

Fully managed properties

We charge 12% of all rent received. This includes the cost of managing the property, including site visits and the cost of rent collection, etc.

 

Ingoing fee

This is £395 and covers the cost of carrying out and preparing a detailed condition report of the property including dated photographs. It covers the cost of organising and preparing the property to be let, including compiling the necessary documentation and certificates such as electrical safety certificates, portable appliance certificates and landlord gas safety certificates.

 

If we continuously manage the property and there is a change of tenancy, the ingoing fee is reduced to £195.

 

Introduction only

We charge one month’s rent, subject to a minimum fee of £395. This provides for all of the above, except full management.

 

Deposit fee

If you want Pennine Ways Lettings Ltd to hold a deposit on your behalf and to register with the DPS scheme, we charge a deposit fee of £100.

 

Energy Performance Certificate

We charge £120 if you want us to organise an EPC.

 

Statements

If you prefer us to post your statements by Royal Mail, this will cost £12pa. There is no cost for accounts that are emailed.

 

Our fees do not cover legal costs where you want us to evict a tenant on your behalf.

 

Client Money Protection Insurance

 

Pennine Ways Lettings Ltd is pleased to confirm we have Client Money Protection Insurance cover with WRB Underwriting, a Lloyds of London Underwriter.

 

Client Money Protection (CMP) was brought into effect in 2017 to protect and safeguard client money received from tenants that is passed through a letting agent.

 

General lettings information

 

Please note there is no VAT payable on any of the charges relating to lettings.

 

Pennine Ways Lettings Ltd is a member of MyDeposits, which protects tenants’ deposits, but is not a member of any other letting agency association.

 

Auctions

 

In certain circumstances we will recommend selling your property or land by auction, particularly if it would be difficult for buyers to secure a mortgage. An auction is a useful method of achieving a quick cash sale.

 

Auction terms and conditions for sellers

 

  • A guide price will be agreed with you and disclosed to bidders.
  • A reserve price will be agreed with you but kept confidential between seller and auctioneer. This is the figure below which the auctioneer cannot sell your property.
  • Your solicitor must undertake all local and other searches and provide special conditions of sale, and all relevant legal documentation to prospective buyers. As auctioneers, we are not responsible for any errors in this documentation.
  • We are not responsible for errors or omissions in the sales particulars.
  • If we sell your property – whether at auction, before or after the auction – our sole agency fee is 1.5%, subject to a minimum fee of £1,500. This is due immediately on completion.
  • We ask for a contribution of £500 +VAT for general advertising and marketing. We will also require an £85 +VAT per insertion contribution towards print advertising where requested.
  • We recommend having a For Sale sign, and there is no charge for this.
  • There is no charge for viewings. We always arrange accompanied viewings where possible.
  • It is the auctioneer’s right to:
    • cancel or change the date and venue of the auction
    • amend the lotting order
    • regulate the size of bidding increments
    • refuse bids
    • determine disputes between bidders
    • charge a buyer’s premium.
  • As the seller, you must not bid. We, as the auctioneer, may bid on your behalf up to, but not including, the reserve price.
  • Any agreement for Pennine Ways to auction your land or property may be ended either by you or by us with at least 30 days’ written notice. If you decide to withdraw your property from auction for any reason, a nominal withdrawal fee of £500 will be payable.
  • If a buyer who has been registered with us or had any negotiations with us buys the property within 12 months of the end of the agreement or the auction date, our fee will apply.

 

Auction terms and conditions for buyers

 

  • We prefer to take bids from people who attend the saleroom in person, but arrangements can be made for telephone bidders and proxy bids.
  • Prospective buyers can send a signed bid and a note of the maximum price they are prepared to allow the auctioneer to bid on their behalf. These can be mailed or hand-delivered to Pennine Ways, Westgate Chambers, Haltwhistle, Northumberland NE49 9AQ.
  • Your bid must be an exact figure, for example £10,050. We cannot accept wording such as “£100 over the highest bid in the room”.
  • Any instruction to bid must be accompanied by a bank or building society draft made payable to Pennine Ways Cumbria Ltd. The draft should be for 10% of the maximum bid price, plus the buyer’s premium (usually 7.5% of the maximum bid price). Alternatively, you can provide credit or debit card details. If successful, we will debit your deposit and buyer’s premium on the day of the auction, so please ensure you have sufficient funds in place on the day.
  • A telephone/proxy bid is binding, and means we have full legal power to sign contracts on your behalf. There is no charge for this, and we accept no liability for a bid not being made for any reason.
  • Interested parties may wish to offer on a property before the auction. This is fine, but their offer will be subject to the buyer’s premium of around 7.5%. This must be paid immediately on acceptance of the offer and is non-refundable, should the buyer decide to withdraw.
  • On the fall of the hammer, the highest bidder who equals or exceeds the reserve price is contracted to buy.
  • Contracts will be signed and exchanged before the highest bidder leaves the auction room.
  • We, the auctioneer, can sign contracts on your behalf if you are not able to do so as the seller.
  • The buyer will pay a deposit of 10% of the hammer price on the day of the auction, along with the buyer’s premium, which is usually around 7.5% of the hammer price. There is no VAT payable on the buyer’s premium.
  • Completion normally happens 28 working days after the date of the auction, when the remaining 90% of the hammer price must be paid.

 

NB – detailed terms and conditions are sent to prospective sellers and buyers when they enter into an agreement with Pennine Ways.