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BLACK = Old Item/Clause | RED = New Item/Clause | BLUE = Comments About Change (Not Part of Form) | STRIKEOUT = Wording Deleted
13 Dec 2022 v2.8
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Item 1
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BUYER/S
Name/s: ………………………………………………………………………………………………………………
Business Name: ..............................................................................................................................
Address: ………………………………………………………………………………………………………………
ABN: …………………… ACN: …………………… Phone: (…)……………………Mobile: ………………
Email: ……………………………………………………………………………...…....................................
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Item 2
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AGENT
Name/s: ………………………………………………………………………………………………………………
Address: ………………………………………………………………………………………………………………
ABN: ………………… ACN: ………………… Phone: (…)………………….…Mobile: ………………….
Contact: ………………………………………………………………………………………………………………
Email: ………………………………………………………………….…… Licence No.:………………………...
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24 Nov 2021 v2.7
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BUYERS AGENCY AUTHORITY
(Residential / Rural)
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Item 6.4
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PROPERTY SELECTION CRITERIA
Additional Special Instructions (e.g. vacant possession):
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Item 14
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GST WITHHOLDING
All sales of ‘residential property’ will require the Vendor to complete a notice in accordance with section 14-255 of the Taxation Administration Act 1953 (Cth).
Note: Professional advice should be sought for sales of non-residential property.
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18 Aug 2021 v2.6
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Item 9
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COMMISSION SHARING
Will the Agent’s commission be shared with other people (other than a licensed estate agent or an agent’s representative either of whom are employed by the agent, or a licensed agent who is in partnership with the agent)?
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16 Apr 2020 v2.5
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Item 7.2(a)
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Estimated Purchase Price: $ ……….......................... <Including GST (if applicable)/Excluding GST>
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03 Dec 2019 v2.4
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Item 7.2(a)
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Estimated Purchase Price: $ ………...... <Including GST/Excluding GST> (Including GST if applicable)
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30 May 2019 v2.3
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Clause 1.1(5)
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Data Collection Agency: means an agency or organisation that collects real estate data to provide information to the real estate, finance and property valuation industries to enable data analysis.
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Clause 1.1(11)
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Personal Information: means personal information as defined in the Privacy Act 1988 (CTH).
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Clause 13
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13.1
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The Agent must comply with the provisions of the Australian Privacy Principles (Privacy Act 1988 (CTH)) and where required maintain a Privacy Policy.
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13.2
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The Privacy Policy outlines how the Agent collects and uses Personal Information provided by you as the Buyer, or obtained by other means, to provide the services required by you or on your behalf.
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13.3
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You as the Buyer agree the Agent may, subject to the Privacy Act 1988 (CTH) (where applicable), collect, use and disclose such information to:
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(1)
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potential vendors, to the extent required to prepare a contract for the purchase of the Property; and/or
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(2)
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property data collection agencies; and/or
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(2)
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Owner’s Corporations and financial institutions; and/or
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(3)
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other third parties as may be required by the Agent for the purposes of marketing, sales promotion and administration relating to the use of the Agent’s products and services, and but must do so in complianceying with legislative and regulatory requirements.
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13.4
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Documents or copies of documents provided to establish the identity of the Buyer or persons entitled to deal on behalf of the Buyer, will be retained by the Agent in accordance with the Australian Privacy Principles and will not be used for any purpose other than confirming the identity of such person/s.
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13.5
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Without provision of certain information the Agent may not be able to act effectively or at all on the Buyer’s behalf.
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13.6
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The Buyer has the right to access such Personal Information and may require correction or amendment of any inaccurate, incomplete, out of date or irrelevant information.
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13.7
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The Agent will provide (where applicable), on request, a copy of its Privacy Policy.
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Clause 14
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Data Collection
Upon signing this Authority the parties agree the Agent, and the form completion service provider providing this form, may without disclosing Personal Information collect, use and disclose to Data Collection Agencies information contained in this Authority and any subsequent sales contract.
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01 Jul 2018 v2.2
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Item 1
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Name/s: …………………………………………………………………………………………………………
Business Name: …………………………………………………………………………………………………
Address: …………………………………………………………………………………………………………
ABN: ……………… Phone: (…)………………… Fax: (…)……………… Mobile: …………………..
Email: …………………………………………………………………………………………………………
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Item 2
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Name: …………………………………………………………………………………………………………
Address: …………………………………………………………………………………………………………
ABN: ……………… Phone: (…)………………… Fax: (…)……………… Mobile: …………………..
Email: ……………………………………………..………………………… Licence No.: ……………….
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Item 7 Note
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Note: Where the Commission Method is expressed as a percentage (Item 7.2(b)) the Commission Amount (Item 7.2(c)) is an estimated amount calculated on the Estimated Purchase Price (Item 7.2(a)) and the actual commission for this service will be worked out only on the actual purchase price.
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Item 14
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GST WITHHOLDING
All sales of ‘residential property’ will require the Vendor to complete a notice in accordance with section 14-255 of the Taxation Administration Act 1953 (Cth).
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26 May 2018 v2.1
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Clause 12
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In compliance with the Estate Agents (Professional Conduct) Regulations 20108 the Agent has in place procedures for resolving complaints and disputes arising from the operation of the Agent’s estate agency practice. If a complaint is made the Agent will advise the dispute resolving procedures. The Agent will make every effort to minimize or resolve disputes relating to the Agent’s performance.
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07 May 2018 v2.0
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Title
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BUYERS AGENCY AUTHORITY
(Residential)
(Note: Where there is insufficient space in any Item place details in an Annexure and refer to the Annexure in the Item - e.g. ‘Refer Additional Expenses Annexure’)
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Item 2
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Name/s: …………………………………………………………………………………………………………….
Address: …………………………………………………………………………………………………………….
ABN: …………….. Phone: (…)………………….. Fax: (…) ………………….. Mobile: …………………
Email: ……………………………………………………………………… Licence No.: …………………….
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Item 14
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Signature of Agent:
………………………………………………………..……………………………… Date: .…./.…./……
By signing this Authority the Buyer(s) confirm(s) having read and understood the provisions of Clause 2.1 of the Authority.
Signatures of Buyer(s):
………………………………………………………..……………………………… Date: .…./.…./……
………………………………………………………..……………………………… Date: .…./.…./……
………………………………………………………..……………………………… Date: .…./.…./……
By signing below the parties acknowledge and confirm having read and understood this Authority.
Signature of Buyer(s) Date: Date:
……………………………………… …… / …… / …… …………………………… …… / …… / ……
……………………………………… …… / …… / …… …………………………… …… / …… / ……
Note: Where signed by Buyer’s authorised representative or the Buyer is a corporation evidence of authority to sign must be provided.
Signature of Agent:
……………………………………… Date: …… / …… / …….
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Clause 1.1(10)
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Related Document: means any written communication (including Notices), with regard to this matter, between the parties, including any Electronic Documents.
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Clause 2.1
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By signing this Authority the Buyer(s) warrants and confirms:
(1)
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it has authority to enter into this Authority.
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(1)
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having read this Authority.
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Clause 14
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Related Documents / Notices / Electronic Communication
14.1
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The parties agree and confirm any documents and communications in relation to this Authority may be forwarded electronically in accordance with this clause and where this document has been forwarded electronically (either for signing or otherwise) the party receiving the document confirms having consented to the delivery of the document (and any other materials) by way of the electronic means of delivery before receiving the documentation.
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14.2
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Any Related Document, including this Authority, to be served on any party under this Authority shall be in writing and may be served on that party:
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(1)
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by delivering it to the party personally; or
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(2)
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by leaving it for the party at that party’s address as stated in this Authority the Item Schedule; or
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(3)
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by posting it to the party by ordinary mail or security mail as a letter addressed to the party at the address as stated in this Authority the Item Schedule; or
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(4)
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by as an electronic communication by facsimile transmission, email or SMS text message to the party at the appropriate electronic address as stated in this Authority the Item Schedule; or
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(5)
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by delivery to an alternative address, provided in writing by the party, by any of the methods outlined in Clauses 14.2(1) to (4) above.
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14.3
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A Related document posted shall be deemed to have been served, unless the contrary is shown, at the time when, by the ordinary course of post, the Related document would be delivered.
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14.4
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A Related document sent by electronic communication will be deemed to have been received in accordance with Section 13A of the Electronic Transactions (Victoria) Act 2000.
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14.5
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Related Documents given by a party's solicitor will be deemed to have been given by and with the authority of the party.
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14.6
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Related Documents must be served before 5pm on a business day, failing which, such Related document will be deemed to have been served on the next business day.
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14.7
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The parties acknowledge and agree an Electronic Document readily accessible via a link within a Related Document is received when the Related Document is served and will be opened when the Related Document is opened.
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14.8
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The parties agree to execution, delivery and service of Related documents electronically by a method provided by DocuSign or such other agreed electronic signing service provider.
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01 Jul 2017 v1.9
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Item 13
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Note: For properties with a market value of, at or more than, $2,000,000 $750,000 a buyer must withhold 10 12.5% of the purchase price and pay such monies to the Australian Taxation Office (ATO) on or before settlement, unless the Vendor has obtained a Clearance Certificate from the ATO (Taxation Administration Act 1953 – (Cth) Subdivision 14-D).
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01 May 2017 v1.8
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Item 7.2
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Commission (Success Fee): (Clause 6.2)
The Agent’s Commission will be as calculated on the Estimated Purchase Price (Item (7.2(a))) using one of the Commission Methods set out in Item 7.2(b):
(a)
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Estimated Purchase Price: $ …………………………………… (Including GST if applicable)
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(b)
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Commission Method: (tick only one)
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__
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………… % (incl. GST) of the Sale Price
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__
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………… % (incl. GST) of the first $ ………… of the Purchase Price plus ………… % (incl. GST) of the Balance
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__
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Fixed Amount of $ ……………….. (incl. GST)
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__
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Other: …………………………………………………………………………………………………
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(c)
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Commission Amount: $ …………… plus GST of $ …………… Total Payable: $ ……………… (incl. GST)
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Note: Where the commission is expressed as a percentage of Purchase Price or part thereof (Item 7.2(b)) the Commission Amount (Item 7.2(c)) is an estimated amount calculated on the Estimated Purchase Price (Item 7.2(a)) and upon purchase of a Property the actual commission for this service will be calculated worked out only on the actual purchase price.
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Item 11
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Important Information for Vendor(s)
A rebate includes any discount, commission, or other benefit, and includes non-monetary benefits. It is illegal for an Agent to keep any rebate they receive for advertising or other outgoings purchased by the Agent on your behalf. Section 48A of the Estate Agents Act 1980 requires the Agent to immediately pay you any rebate they receive in relation to the sale of your property.
The Agent is not entitled to retain any rebate and must not charge you an amount for any expenses that is more than the cost of those expenses.
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__
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The Agent will not be, or is not likely to be, entitled to any rebates.
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OR
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__
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The Agent will be, or is likely to be, entitled to rebates.
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These rebates are listed below. List of rebates:
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•any outgoings; or |
•any pre-payments made by the person engaging or appointing the Agent (the Client) in respect of any intended expenditure by the Agent on the Client’s behalf; or |
•any payments made by the Client to another person in respect of the work |
Goods/Services to which rebate relates
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Name of person or organisation providing rebate
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Amount (including GST) (if amount not known, provide an estimate)
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Clause 1.1(5)
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Electronic Document: means any electronic communication (including Notices) as defined in the Electronic Transactions (Victoria) Act 2000 including any electronically generated document situated on an external server readily accessible via a link within an electronic communication or other electronically generated document.
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Clause 1.1(10)
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Related Document: means any written communication (including Notices), with regard to this matter, between the parties including any Electronic Documents.
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Clause 9
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Financial and Investment Advice
9.1
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The Agent makes no representation as to being a financial or investment advisor.
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9.2
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The Buyer acknowledges any financial and investment advice provided by the Agent is general advice and its preparation has not taken into account the individual circumstances of the person or the person’s objectives, financial situation or needs.
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9.3
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The Buyer should assess the suitability of any investment in the Property in the light of the Buyer’s own needs and circumstances, which the Buyer can do personally or by consulting an appropriately licensed financial adviser.
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9.4
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If there is any conflict of interest the Agent may have in connection with the provision of the advice referred to above the Agent must disclose full details of any benefits that may accrue to the Agent as a result thereof.
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Clause 9
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Agent’s Opinion
The Agent makes no representation as to being a financial or investment advisor.
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Clause 11
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Provision of Documents
The parties agree and confirm documents may be forwarded electronically if the recipient has provided an email address or facsimile number in the Item Schedule to this Authority.
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Clause 14
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Related Documents/Notices
14.1
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The parties agree and confirm documents may be forwarded electronically in accordance with this clause.
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14.2
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Any Related Document, including this Authority, to be served on any party under this Authority shall be in writing and may be served on that party:
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(1)
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by delivering it to the party personally; or
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(2)
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by leaving it for the party at that party’s address as stated in the Item Schedule; or
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(3)
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by posting it to the party by ordinary mail or security mail as a letter addressed to the party at the address as stated in the Item Schedule; or
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(4)
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as an electronic communication by facsimile transmission, email or SMS text message to the party at the appropriate electronic address as stated in the Item Schedule; or
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(5)
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by delivery to an alternative address provided in writing by the party, by any of the methods outlined in Clauses 14.2(1) to (4) above.
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14.3
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A Related Document posted shall be deemed to have been served, unless the contrary is shown, at the time when, by the ordinary course of post, the Related Document would be delivered.
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14.4
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A Related Document sent by electronic communication will be deemed to have been received in accordance with Section 13A of the Electronic Transactions (Victoria) Act 2000.
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14.5
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Related Documents given by a party's solicitor will be deemed to have been given by and with the authority of the party.
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14.6
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Related Documents must be served before 5pm on a business day, failing which, such Related Document will be deemed to have been served on the next business day.
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14.7
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The parties acknowledge and agree an Electronic Document readily accessible via a link within a Related Document is received when the Related Document is served and will be opened when the Related Document is opened.
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14.8
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The parties agree to execution, delivery and service of Related Documents electronically by a method provided by DocuSign or such other agreed electronic signing service provider.
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30 Sep 2016 v1.7
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Item 13
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CAPITAL GAINS WITHHOLDING PAYMENT
Note: For properties with a market value of, at or more than, $2,000,000 a Buyer must withhold 10% of the purchase price and pay such monies to the Australian Taxation Office (ATO) on or before settlement, unless the Vendor has obtained a Clearance Certificate from the ATO (Taxation Administration Act 1953 – (Cth) Subdivision 14-D).
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18 May 2016 v1.6
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Item 3
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TERM OF EXCLUSIVE AUTHORITY (SOLE AGENCY)
3.1
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This Exclusive Authority will be for a period of ……………..... days from the date of signing this Authority.
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3.2
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Note: Section 54(1) of the Estate Agents Act 1980
If an agreement stating that an estate agent is to act as the sole agent for the sale of any real estate or business does not state when the sole agency is to end, the sole agency ends:
(a)
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in the case of a sale by auction, 30 days after the date of the auction; or
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(b)
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in any other case, 60 days after the date the agreement is signed by, or on behalf of, the vendor of the real estate or business.
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Item 5
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PERFORMANCE OF SERVICE [If insufficient space attach schedule]
Note: Terms must not be unfair, refer Schedule 1, Part 2-3 of the Competition and Consumer Act 2010 (Cth).
In addition to any Agent’s Obligations and Authority outlined in this Authority the Buyer authorises the Agent to perform the services as indicated below in accordance with this Authority. [Tick authorised options]
The Buyer authorises the Agent, in accordance with the Buyer’s instructions as more particularly set out in this Authority, to undertake the following services. [Tick authorised options]
(1)
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Locating & presenting potential properties to the Buyer based on the criteria outlined in Item (6) & providing general assistance
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(1)
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Enter into negotiations for the purchase of a Property on the Buyer’s behalf
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(2)
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Participate in negotiating and exchange of a Contract for the purchase of a Property on the Buyer’s behalf
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(3)
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Bid on a prospective property at auction on the Buyer’s behalf up to the Maximum Price (Item 6.5) – See Clause 5
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(4)
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Sign a Contract on the Buyer’s behalf where contract negotiations have been finalised or bidding at an auction has been successful – See Clause 5
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(5)
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……………………………………………………………………………………………………………………
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(6)
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……………………………………………………………………………………………………………………
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The Agent agrees to perform such duties with due skill, care and diligence & in compliance with the Agent’s Code of Conduct.
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Item 6.5
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Maximum Price or Price Range the Buyer is prepared to pay for a property similar to the property described above:
Maximum Price: $ …………………… OR Approx. Price Range: $ ..……….….... to $ ……...........……
(including GST if applicable)
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Item 7
HEADING
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FEES/COMMISSION PAYABLE TO AGENT FOR SERVICES (this statement must be incorporated within the Authority in the approved form –s49A(1)(c) Estate Agents Act 1980)
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Item 7.2
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Commission (Success Fee): (Clause 6.2)
Based on an estimated Purchase Price of $......................... GST Exempt/Including GST the Agent’s Success Fee would be as calculated using one of the following methods:
__ ………….% of the Purchase Price
__ Fixed amount of $ …………………….. plus GST
__ Other: ………………………………………………………………………………………………………
Where calculated on a % basis, as set out above, the Success Fee as an actual dollar amount would be:
Success Fee: $ ................. plus GST of $ ……..……. Total Fee Payable: $ ………... (incl. GST)
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The Agent’s Commission will be as calculated on the Estimated Purchase Price (Item (7.2(a))) using one of the Commission Methods set out in Item (7.2(b)):
(a)
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Estimated Purchase Price: $ ……………………………… (Including GST if applicable)
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(b)
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Commission Method: (tick only one)
__ ……… % (incl. GST) of the Purchase Price
__ ……… % (incl. GST) of the first $ ………..... of the Purchase Price plus ………...% (incl. GST) of the balance
__ Fixed Amount of $ ……………….... (incl. GST)
__ Other: ………………………………………………………………………………………
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(c)
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Commission Amount: $ ……………........... plus GST of $ …………...... Total Payable: $ ……………......... (incl. GST)
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Note: Where the commission is expressed as a percentage of Purchase Price or part thereof (Item 7.2(b)) the Commission (Item 7.2(c)) is an amount calculated on the Estimated Purchase Price (Item 7.2(a)) and upon purchase of a Property the actual commission for this service will be calculated only on the actual purchase price.
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Item 8
HEADING
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EXPENSES (Attach schedule Iif insufficient space room attach schedule)
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Item 12
HEADING
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SPECIAL CONDITIONS
The Special Conditions to this Authority are where inserted at the direction of under instruction from the Buyer a party to this Authority and where not prepared by that party, were prepared by the Buyer or an Australian Legal Practitioner instructed by the Buyer and not by the Agent. No warranty is given by the Agent with respect to such clauses. Legal advice should be sought.
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Clause 3.1
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Exclusive Authority
The Buyer by this Authority appoints the Agent as Exclusive (Sole) Buyer’s Agent for the term of this Authority as set out in Item (3) or any extension to the exclusive authority period. Authority vested in the Agent by this Authority shall be deemed to be vested in the Agent’s authorised employees.
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Clause 4.3
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The Agent is authorised to locate and present potential properties to the Buyer based on the criteria outlined in Item (6) and to provide general assistance in respect of this Authority and potential properties.
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Clause 4.9
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Any services provided will be appropriate and carried out with all reasonable due care and skill and in compliance with the Agent’s Code of Conduct.
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Clause 6
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Commissions, Fees and Expenses Agent’s Fee Reimbursement
6.1
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The Buyer acknowledges the Agent is entitled to a Retainer Fee as detailed in Item (7.1) in consideration of the services to be performed as set out in Item (5), payable on the signing of this Authority.
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6.2
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The Buyer acknowledges the Agent is entitled to the Commission Success Fee if:
(a)
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during the initial or any extended exclusive authority period (Item 3) the Buyer (itself or through another party) purchases a property; or
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(b)
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during the ongoing authority period (Item 4) the Buyer purchases a property; or
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(c)
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during the exclusive authority period the Buyer is introduced to a property by the Agent which the Buyer purchases within 120 days after the conclusion of the exclusive authority period; or
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(d)
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a binding contract is entered into pursuant to or in accordance with Clauses 6.2(a), 6.2(b) or 6.2(c) and not completed due to:
(1)
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cancellation by mutual consent
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(2)
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the default of the Buyer
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(3)
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repudiation by the Vendor
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6.3
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The Commission Success Fee will be calculated on the actual Purchase Price notwithstanding such Purchase Price may be greater or less than the Maximum Purchase Price as set out in Item (6.5).
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6.4
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The Commission Success Fee, as detailed in Item (7.2), will be payable by the Buyer on settlement of the purchase or within 7 days of the Buyer’s default in Clause 6.2(d).
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6.5
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The Agent will not be entitled to the Commission Success Fee (Item 7.2) if after the termination or conclusion of the Exclusive Period, or any extension thereof, the Buyer has signed an Exclusive Authority with another Agent.
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6.6
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The Buyer will pay all commissions, fees, charges and expenses and other outlays owing to or incurred by the Agent in association with this Authority (including any taxes or deductions debited by financial institutions against the Agent’s account and attributable to the affairs of the Buyer), as detailed in Items (7) and (8).
The Agent shall be paid any Additional Fees (Item 7.3) and Expenses (Item 8) on the Due & Payable date as provided in those Items. Such payments shall include any taxes or deductions debited by financial institutions against the Agent’s account and attributable to the affairs of the Buyer.
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6.7
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This Authority cannot be varied without agreement in writing signed by the parties.
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6.8
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If the Agent is entitled to an input tax credit on any payment or expense the Buyer will reimburse such payment or expense to the Agent at its GST free value unless payment by the Buyer to the Agent amounts to a taxable supply as defined in the GST Act in which case the Buyer will pay the payment or expense plus GST.
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6.9
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The Buyer acknowledges the Agent may, during the term of the Authority, to better facilitate the provisions of the Authority, utilise the services of another Agent in which case there may be commission sharing and upon the Buyer granting consent to commission sharing, which consent will not be unreasonably withheld, the Buyer will complete a new Authority making such provision, but otherwise on the same terms as this Authority (unless amendment is agreed to) including completion of Item (9) to enable such commission sharing for the balance term of this Authority.
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6.10
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The parties agree a purchase is obtained when a binding contract for the purchase, which is obtained in compliance with this Authority for the purchase of a property, becomes unconditional.
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6.11
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The parties agree the Buyer will have been introduced to a property where the Agent has been a source of information with respect to bringing to the attention of the Buyer that such property is available for purchase.
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Clause 7
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Indemnity
The Agent having complied with its obligations under this Authority and not having been negligent, the Buyer indemnifies the Agent, its officers and employees, from and against all actions, claims, demands, losses, costs, damages and expenses (including Fees and Expenses) which the Agent may suffer or incur in respect of:
(a)
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the Buyer’s failure (without fault on the part of the Agent) to comply with this Authority; or
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(b)
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the Buyer’s failure to give the Agent appropriate authority or instruction, or sufficient funds to carry out an instruction or authority; or
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(c)
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in accordance with the terms and conditions of this Authority, the Agent acting on behalf of the Buyer under this Authority.
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11 Jun 2015 v1.5
Copyright statement updated.
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01 Mar 2015 v1.4
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Item 10
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Any complaint relating to commission or outgoings can be made to the Director, Consumer Affairs Victoria (CAV), GPO Box 4567 123, Melbourne, VIC Victoria, 3001 or by telephoning 1300 73 70 30.
Unless there are exceptional circumstances, Consumer Affairs Victoria cannot deal with any dispute concerning commission or outgoings unless it is given notice of the dispute within 28 days of the client receiving an account for, or notice that the agent has taken the amount in dispute, whichever is later.
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12 Mar 2014 v1.3
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Clause 14
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Privacy Statement
14.1
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The Agent collects and uses personal information provided by you as the Buyer to provide the services required by you or on your behalf.
The Agent must comply with the provisions of the Australian Privacy Principles (Privacy Act 1988) and where required maintain a Privacy Policy.
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14.2
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The Privacy Policy outlines how the Agent collects and uses personal information provided by you as the Buyer, or obtained by other means, to provide the services required by you or on your behalf.
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14.3
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You as the Buyer agree the Agent may, subject to the Privacy Act 1988 (CTH) (where applicable), collect, use and disclose such information to:
(1)
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potential vendors, to the extent required to prepare a contract for the purchase of the Property (including sales agents) for the purpose of advising them of the Agent’s business or part thereof; and/or
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(2)
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property data collection agencies; and/or
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(3)
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Body Corporates Owners Corporations & financial institutions; and/or
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(4)
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other third parties as may be required by the Agent for the purposes of marketing, sales promotion and administration relating to the use of the Agent’s products and services, facilitating to the extent necessary, its obligations under Item (5) and Clause 4 of the Terms of Authority and complying with legislative and regulatory requirements.
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14.4
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Without provision of certain information the Agent may not be able to act effectively or at all on the Buyer’s behalf.
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14.5
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The Buyer has the right to access such information and may require correction or amendment of any inaccurate, incomplete, out of date or irrelevant information.
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14.6
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The Agent will provide (where applicable), on request, a copy of its Privacy Policy.
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14.7
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By signing this Authority the Buyer consents to the collection and use of information as provided for in this Privacy Statement.
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24 Jul 2013 v1.2
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Item 3
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TERM OF EXCLUSIVE AUTHORITY APPOINTMENT (SOLE AGENCY) Clauses 3, 6.2 & 6.5
3.1
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This Exclusive Authority Period will be for a period of …………… days from the date of signing this Authority.
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3.2
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Note: Section 54(1) of the Estate Agents Act 1980
If an agreement stating that an estate agent is to act as the sole agent for the sale of any real estate or business does not state when the sole agency is to end, the sole agency ends:
(a) in the case of a sale by auction, 30 days after the date of the auction; or
(b) in any other case, 60 days after the date the agreement is signed by, or on behalf of, the vendor of the real estate or business.
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3.3
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At the end of the Exclusive Authority Period, unless terminated, this Authority will continue as an Ongoing Non Exclusive Authority for a period of ……….. days. Note: Where no days are inserted, the period shall be 1 Business Day.
Buyer Agrees: __Yes __ No Buyer Initials: ……………..
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3.4
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Either party may terminate this Authority during the Ongoing Non Exclusive period at any time on the giving of not less than ………… days written notice. Such termination will be without prejudice to either parties existing rights, duties or obligations.
Unless previously terminated the Authority will cease at the end of the period set out in Item (3.2)
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Item 4
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ONGOING AUTHORITY PERIOD Clauses 3.3 & 6.2(b)
At the end of the term of the Exclusive Authority (Item 3), unless terminated, this Authority will continue as an ongoing authority for a period of ……….. days (ongoing authority period).
Note: Where no days are inserted, the period shall be 1 Business Day.
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Item 6
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FEES AND EXPENSES ACKNOWLEDGEMENT
The Vendor confirms, prior to signing this Authority, the Agent advised that Expenses and Commission payments were subject to negotiation. Vendor’s Initials: ……………………..
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Item 7
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FEE PAYABLE TO AGENT FOR SERVICES Clause 6
(this statement must be incorporated within the Authority in the approved form – s49A(1)(c) Estate Agents Act 1980)
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Item 9
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NOTICE OF COMMISSION SHARING Clause 6.9
Commission Sharing applicable: Will the Agent’s commission be shared with other people (other than a licensed estate agent or an agent’s representative employed by the agent, or a licensed agent who is in partnership with the agent.)?
__ Yes __ No (Important - if “Yes”, complete this Item see clause 2.1(7))
Important information for Buyer(s)
If the Agent has agreed to share the commission that will be payable for selling your property, before getting your signature to engage or appoint them, they must give you this commission sharing statement. This statement shows details of all other people who will share in the commission.
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The Agent’s commission will be shared with other people (other than a licensed estate agent or an agent’s representative employed by the agent, or a licensed agent who is in partnership with the agent.)
In accordance with Section 48 of the Estate Agents Act 1980, the Agent states that the commission the Agent is entitled to under the terms of this Authority will be shared with other people as follows:
Name and address of person with whom commission is to be shared
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Description of such person
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Item 10
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MAKING A COMPLAINT CONCERNING COMMISSIONS AND/OR OUTGOINGS
(this statement must be incorporated within the Authority in the approved form – s49A(1)(c) Estate Agents Act 1980)
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Item 11
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REBATE STATEMENT
(this statement must be incorporated within the Authority in the approved form – s49A(1)(c) Estate Agents Act 1980)
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Item 13
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Signature of Agent:
………………………………..............………… Date: ……/……/…..
By signing this Authority:
(a) each party acknowledges having received a signed copy of this Authority and has had the opportunity to obtain professional advice with respect to this Authority and each party acknowledges it is bound by the terms of this Authority.
(b) the Buyer(s) confirm(s) having read and understood the provisions of Clause 2.1 of the Authority.
Signature of Agent:
………………………………………… Date: ……/……/…..
Signatures of Buyer(s):
………………………………..............………… Date: ……/……/…..
………………………………..............………… Date: ……/……/…..
………………………………..............………… Date: ……/……/…..
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Clause 2.1
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By signing this Authority the Vendor(s) warrants and confirms:
(1)
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having read this Authority.
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(2)
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not, at the time of entering into this Authority, having signed a Contract for the purchase of a property.
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(3)
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the Buyer’s attention has been drawn to Clause 13 relating to Dispute Resolution.
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(3)
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that, in accordance with s 49A(1)(b) of the Estate Agents Act 1980, prior to signing this Authority the Buyer was advised by the Agent that Expenses and Commission were subject to negotiation.
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(4)
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having received at the time of signing a signed copy of this Authority.
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(5)
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having had the opportunity to obtain legal and other professional advice with respect to this Authority.
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(6)
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that, prior to signing, the Buyer’s attention has been drawn to Item (9) Commission Sharing, Item (10) Making a Complaint Concerning Commission and/or Outgoings, Item (11) Rebate Statement and Clause 13 Dispute Resolution.
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(7)
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Where commission sharing is applicable as indicated in Item (9) the Buyer acknowledges, prior to signing this Authority, having received a notice of commission sharing in accordance with section 48 of the Estate Agents Act 1980.
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Clause 3
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Agency and Authority
3.1
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Exclusive Authority
The Buyer by this Authority appoints the Agent as Exclusive (Sole) Buyer’s Agent for the term of this Authority as set out in Item (3) or any extension to the exclusive authority period thereof. Authority vested in the Agent by this Authority shall be deemed to be vested in the Agent’s authorised employees.
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3.2
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The Agent agrees to such appointment.
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3.3
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Ongoing Authority
Either party may terminate this Authority during the ongoing authority period at any time on the giving of not less than 14 days written notice. Such termination will be without prejudice to either party’s existing rights, duties or obligations.
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Clause 6.2
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The Buyer acknowledges the Agent is entitled to the Success Fee if:
(a)
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during the initial or any extended exclusive authority period (Item 3) the Buyer (itself or through another party) purchases a property; or
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(b)
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during the Non Exclusive ongoing authority period (Item 4) the Buyer purchases a property; or
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(c)
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during the exclusive authority period the Buyer is introduced to a property by the Agent which the Buyer purchases within 120 days after the conclusion of the exclusive authority period; or
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(d)
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a binding contract is entered into pursuant to or in accordance with Clauses 6.2(a), 6.2(b) or 6.2(c) and not completed due to:
(1)
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cancellation by mutual consent
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(2)
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the default of the Vendor
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(3)
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repudiation by the Vendor
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Clause 6.9
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The Buyer acknowledges the Agent may, during the term of the Authority, to better facilitate the provisions of the Authority, utilise the services of another Agent in which case there may be commission sharing and upon the Buyer granting consent to commission sharing, which consent will not be unreasonably withheld, the Buyer will complete a new Authority making such provision, but otherwise on the same terms as this Authority (unless amendment is agreed to) including completion of Item (9) to enable such commission sharing for the balance term of this Authority.
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Clause 7
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The Agent having complied with its obligations under this Authority and not having been negligent, the The Buyer indemnifies the Agent, its officers and employees, from and against all actions, claims, demands, losses, costs, damages and expenses (including Fees and Expenses) which the Agent may suffer or incur in respect of:
(a)
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the Buyer’s failure (without fault on the part of the Agent) to comply with this Authority; or
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(b)
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the Buyer’s failure to give the Agent appropriate authority or instruction, or sufficient funds to carry out an instruction or authority; or
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(c)
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in accordance with the terms and conditions of this Authority, the Agent acting on behalf of the Buyer under this Authority.
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Clause 14.2
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You as the Buyer agree the Agent may subject to the Privacy Act 1988 (CTH) (where applicable), collect, use and disclose such personal information to:
(1)
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potential vendors (including sales agents) for the purpose of advising them of the Agent’s business or part thereof; and/or
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(2)
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data collection agencies; and/or
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(3)
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Body Corporates & financial institutions; and/or
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(4)
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other third parties as may be required by the Agent for the purposes of marketing, promotion and administration, facilitating to the extent necessary, its obligations under Item (5) and Clause 4 of the Terms of Authority and complying with legislative and regulatory requirements.
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Clause 14.4
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The Buyer has the right to access such personal information and may require correction or amendment of any inaccurate, incomplete, out of date or irrelevant information.
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