Terms & Conditions

Buyers Market Membership scheme

Terms and Conditions

Important Notice – This is a contract. Please take time to read it carefully and ask any questions relating to the terms and conditions below before ticking the box to agree to these conditions when registering.

1.0 About these terms and conditions

1.1 When we say “Member” we mean a person that is a registered member of Buyers Market in accordance with clause 2.

1.2 When you use your Membership services you accept these terms and conditions.

1.3 There are some words that we’ve capitalised in these terms and conditions. This is because they have a particular meaning which is set out in these terms and conditions.

1.4 These terms and conditions set out the rights you have as a Member and the additional benefits you’re entitled to under these terms and conditions.

1.5 When we talk about these rights and benefits in this document, we refer to it as the “scheme”.

1.6 When we talk about “Member Reward” we mean reward that we give back to you to spend at Buyers Market, in each case, based on your eligible purchases.

1.7 When we use the words “eligible purchases”, we mean that when you buy certain products and services from us, we will pay a Member Reward to you.

2.0 How to become a Member

2.1 Anyone who is in the process of buying a new residential property and wants to do business with us is welcome to join.

2.2 To become a Member, you must pay the Annual Membership Fee. This fee will be set for a calendar year and reviewed annually. The fee is £99

2.3 When you apply to become a Member, we’ll ask you for some personal details including your full name, date of birth, home address, email address and your buyers criteria. We’ll also ask you to set up a secure password for your online Membership account to help protect you against fraud.

2.4 We will never ask you for your password.

2.5 We will use your email address or telephone or text, as specified as your preference to contact you for service matters regarding your Membership and for marketing if you’ve given us permission.

2.6 We’ll keep all your personal details safe and only use them as allowed under the GDPR regulations and the Laws of Scotland.

2.7 Once you’ve registered, you can begin to benefit from being a Member.

• Membership Benefits

• You are allocated with a Buying Expert to help and advise you at every step of your buying journey
• A free matching service for your requirements to on and off-market sellers
• Free advertising on the Buyers Target Map
• Free alerts of houses newly on-the-market
• Access to the premium service ‘Find your Perfect Home’
• A monthly prize draw for all members. Prize type and value can vary to suit Buyers Market.
• A members Rewards scheme that grants ‘reward points’ based on ‘eligible purchases’. The Reward Points are redeemable against selected purchases from a ‘BM Designated Supplier’. The Designated supplier(s) is named on the Buyers Market website and can be updated from time to time.

• Membership Obligations to pay for success-based introductory services

4.1 The premium’ Find your Perfect Home‘ service is a consultancy service and a Finders-fee based quote will be provided for your approval. Additionally, a time-based consultancy charge will be levied based on the expected time and resources required to find an off-market property which matches your requirements. When you complete a purchase, the time-based fees already charged will be deducted from your Finders Fee bill. (see the ‘Find Your Perfect Home’ service agreement for full details of this service)

5.0 Membership account

Once you’ve registered as a Member we’ll send you a Membership confirmation email with your Unique Membership Number (UMN)

6.0 How to manage your account and change your details

6.1 If you need to change your name or address or your preferences or otherwise manage your Membership Account, this can be done via the website or via your Buying Expert.

6.2 If you’ve changed your details, you’ll need to give us your Membership number or your name and postcode, so we can find your account. We’ll need to check your identity by asking you for some personal information. In some cases, we may also ask you for proof of your new name or address.

6.3 If someone uses your password or personal details to access your Membership account because you haven’t kept them safe, we’re not responsible for anything that happens as a result.

7.0 Member Rewards

7.1 The amount of the Member Reward on products and services that you earn may change from time to time.

7.2 Member Rewards have no cash value and you can’t swap Member Rewards for money.

7.3 Where you can earn Member Rewards (eligible purchases)

            House purchase services sourced via Buyers Market

• Legal services
• Home report
• Removals

House purchase completions

7.4 How we calculate Member Rewards

When we’re calculating the value of the Member Reward you will receive, we use the total value of all your eligible purchases including VAT. To calculate the Member Reward, we apply the percentage rate of 5% to the total of eligible purchases in each transaction.

7.3. Expiration of Member Rewards

If you don’t buy anything from any of our businesses for 12 months or more, we may expire any Member Reward you’ve earned in your Membership account. You’ll start to earn your Member Reward as soon as you use your Membership again.

8.0 Cancelling your Membership

8.1 You can cancel your Membership at any time by telling us. We can also remove or expel you from Membership as set out in our Membership Rules(clause 9)

8.2 If you stop being a Member for any reason we will:

• Cancel your Membership and remove you from our Members register;
• Cancel any Member Rewards you’ve earned and not yet spent;

9.0 Changes to Member Benefits, Member Rewards or terms and conditions

9.1 We have the right to change or cancel Member Rewards and/or any other Member benefits at any time.

9.2 We have the right to change these terms and conditions by giving you reasonable notice – for legal, regulatory, business or policy reasons. If you continue to use your Membership after any change, this will be an acceptance of these new terms and conditions.

10.0 Third party rights

Only you and we have the right to enforce any of these terms and conditions under the Contracts

(Rights of Third Parties)(Scotland) Act 2017.

11.0 Law and where disputes would be settled

These terms and conditions (and any non-contractual obligations arising out of or in connection with them) are governed by the law of Scotland. The Scottish courts have non-exclusive jurisdiction to settle any dispute arising out of or in connection with these terms and conditions (including disputes around any non-contractual obligations arising out of or in connection with these terms and conditions).

12.0. Rules Of Membership

• Members must inform us of any change to your address or contact details. Failure to do so can lead to a withdrawal of membership and accrued benefits.
• Members must provide accurate information regarding name, address and contact details.
• You can only have one Membership account at a time.
• Your Membership and any rewards you’ve built up in your Membership account, belong to us. We have the right to take them back (or change these terms and conditions) at any time.
• Your Membership account and benefits can only be accessed and used by you (the person registered on the Membership account).
• You can’t give or transfer your rights or duties as a Member to anyone else (for example, you can’t give your Membership number to someone to earn your reward, benefit from exclusive Member deals, offers and prices).
• You’re responsible for keeping your Membership Number and account safe. If you lose your number or someone steals your number and uses it or can access your Membership account, we’re not responsible for any losses or damages that happen as a result.

Important Notice – This is a contract. Please take time to read it carefully and ask any questions relating to the terms and conditions below before ticking the Terms & Conditions box when registering.
Please read and sign the following: In accordance with relevant laws of Scotland. In this agreement, any reference to “BM “we”, “us” or “our” is to Buyers Market Ltd.

• OUR CONSULTANCY SERVICE AND RESPONSIBILITIES

1.1 In the event where you have contacted Buyers Market and expressed a wish to be matched to one of our members, we will act as your consultant to assist you in finding a buyer for your property. The Buyers Market Buying Expert and other staff will use their skill and resources to match you to one or more of our registered members. When appropriate checks are completed we will undertake to introduce you to our members(s) to allow them access to all of the usual information they require to decide whether to make an offer to purchase your property.

1.2 This agreement is not an agency agreement and Buyers Market are not your agent and have no implied or express permission or obligation to market and sell your house on your behalf.

1.3 When you are ready to accept offers from one or more of our buyers we recommend you employ your own conveyancing solicitor to negotiate with potential purchasers and be able to accept offers for your property.

1.4 When we are successful in introducing you to a purchaser who buys your property you will be liable to pay us a finders fee as detailed in these Terms of Business and (the “Finders Fee”) in addition to any other charges or costs which we have agreed with you.

1.5 Our role and responsibilities are set out in the Terms and Conditions and if relevant the “Accompanying Letter”.

1.6 We undertake to comply with the terms of the Consumer Protection from Unfair Trading Regulations 2008 (CPRs) and the Business Protection from Misleading Marketing Regulations (BPRs) so far as those acts relate to our role for you.

2.0 FEES

The person(s) or company identified above and who sign these Terms of Business is responsible for payment of our fees, costs and charges. If more than one party is to be responsible, these Terms of Business must be signed by all relevant parties and their liability will be joint and several.

3.0 CALCULATION OF FEES

3.1 Where you have signed up for the Off-Market Buyer Finders Service, subsequently been introduced to a buyer and proceeded to complete a purchase with this buyer, you agree to pay the agreed Finders Fee. This Finders Fee is based on a percentage of the house purchase price and is agreed to be 0.50%

3.2 Our fees will be calculated by reference to the sale price of the Property. In the event of an exchange or part exchange the sale price or part thereof will be the value attributed to the Property or as otherwise agreed.

3.3 For the avoidance of doubt, the sale price includes any extra allowance for curtains, carpets, furniture, fixtures or other chattels.

3.4 If the sale of the Property is affected by way of a sale of a controlling interest in any company or other legal entity that directly or indirectly owns the Property: a Finders Fee will still be payable to us;

3.5 You will be liable to pay our Finders Fee to us, in addition to any other costs or charges agreed, if at any time unconditional missives for the sale of the Property are exchanged with a purchaser introduced by us.

3.6 Finders fees do not include such professional work as formal valuations for third parties, building works, preparation and checking of inventories, work linked with legal, tax and fiscal matters, planning advice, structural surveys, specialist tests and other professional work. Such matters are subject to separate agreement and if appropriate a fee and do not relate to our consultancy business.

4.0 COMMISSION FOR ADDITIONAL SERVICES

By law, we must tell all clients if we or any connected person intends to earn any commission from offering the Client/s or a buyer any additional services. If Buyers Market or connected persons earns money from any of these services we or connected person would keep this commission. The following services can be offered by Buyers Market or connected persons: Conveyancing, Estate Agency, Mortgage & Financial Advice, Energy Assessments, Valuations and Surveys, viewings and Removals.

5.0 TIMING OF PAYMENT

5.1 Subject to clauses 2.0 to 4.0 above, our fee and any outstanding expenses are due on the exchange of unconditional missives and payable on the date of settlement of the sale or the date of either party withdrawing from the sale.

5.2 Acceptance of the Terms of Appointment by you will constitute irrevocable authority to us to deduct (alternatively, to instruct your solicitors to deduct and pay to us) properly payable outstanding invoices, relating to the Sale Fee, out of the settlement monies.

5.3 We will be entitled to payment of our fees and other costs agreed if a ready willing and able purchaser is introduced to you by us in accordance with your instructions even if you subsequently withdraw or exchange of missives for the sale does not take place, irrespective of your reasons. A purchaser is defined as somebody who has exchanged unconditional missives for the purchase of the Property.

6.0 VAT

All our fees, costs and charges are subject to Value Added Tax at the appropriate rate regardless of your domicile.

7.0 INTEREST AND RECOVERY OF FEES

Interest will be payable at 4% above base rate on any invoice that remains unpaid for 28 days after payment is due If it becomes necessary to use solicitors or other parties to recover the agreed fees, you will be liable to pay all costs incurred by us.

8.0 WITHDRAWAL FEES

8.1 If a purchaser is introduced by us and sale terms are agreed in accordance with your instructions, even if you subsequently withdraw or if the exchange of Missives does not take place, irrespective of your reasons, we reserve the right to charge you 50% of our sale fee in addition to any outstanding expenses if you withdraw from the sale of the Property.

9.0 TERMINATION

This agreement ends on the completion of a sale and date of settlement. Our instructions to act may be terminated by either party by giving 28 days written notice. If this happens, all expenses and any other costs that we have incurred on your behalf must be paid by you immediately. This will include any costs which we would have otherwise absorbed within our fee if a sale took place.

10.0 CONSUMER PROTECTION from UNFAIR TRADING REGULATIONS 2008 (“CPR”) AND BUSINESS PROTECTION from MISLEADING MARKETING REGULATIONS 2008 (“BPR”)

10.1 Under the CPR and BPR it is a criminal offence for a person to make inaccurate or misleading statements about property whether in sale particulars, adverts, photographs or verbal statements. This includes making statements that might give the wrong impression about a property and includes omitting facts. You will be asked to verify certain information and must assist to the best of your knowledge.

10.2 You will take all responsibility for information provided to a prospective purchaser and that all information provided by you and/or your professional advisers is and remains complete, accurate and not misleading.

10.3 You will inform purchasers of any unusual or onerous servitudes, wayleaves, encumbrances, restrictions, easements, outgoings or conditions attaching to the Property; and

10.4 You will inform Purchasers if the Property does not comply with all relevant statutory requirements or if the Property has not been constructed or is occupied in contravention of or is to be sold or let without valid planning permission/s and building warrant/s and all other approvals required by regulation; and

10.5 You will check all property description materials and promptly correct any part of those materials if they become incomplete, inaccurate or misleading. .

10.6 You will be responsible for any additional costs incurred subsequently to ensure that the circulation of incomplete, inaccurate or misleading information is rectified, whether by the reissue of amended description materials or otherwise.

10.7 Where Buyers Market are commissioned to prepare Property schedules and particulars for you, they will be submitted to you and your solicitors in draft. You are required to check them carefully and approve and confirm their accuracy to the best of your knowledge and belief, having made reasonable enquiries where necessary. It is important to ensure accuracy with regard to such matters as length of lease, service charge, boundaries, unusual covenants, room sizes, acreage, condition, planning consents, tenancies etc.

10.8 You agree to notify purchasers immediately of any relevant changes which occur during the course of the sale process; in particular any changes which occur after approval of the sales particulars which may affect their accuracy.

11.0 HOME REPORTS

Under the Housing (Scotland) Act 2006 and the Home Report Regulations, sellers must have available a Home Report, prepared by a surveyor, prior to marketing a property for sale. In the event that you carry out any open-market marketing of your property you will be required to purchase a Home Report. In the event that you do not carry out any open-market marketing of your property you will not require to purchase a Home Report. E.g. in a private off-market sale

You may choose to commission a Home Report, not for the purposes of marketing but to provide potential purchasers with pre-sale information and to acquire a surveyors valuation of the property. You will be directly responsible for this charge. If you commission a Home Report via Buyers Market or directly to a surveyor a copy of the Home Report will then be sent to you for you to verify the information to the best of your knowledge.

12.0 MONEY LAUNDERING, TERRORIST FINANCING AND TRANSFER OF FUNDS (INFORMATION TO THE PAYER) REGULATIONS 2017

12.1 In accordance with the above Money Laundering Regulations your conveyancing solicitor is required to fully identify and conduct due diligence on all clients prior to entering into a business relationship. This could include the electronic search of databases. All information and documentation will be recorded and retained on file to assist with any government agency enquiries. For the avoidance of doubt, searches will also be conducted on Directors and any “Beneficial Owners” of the Property as required by the legislation.

12.2 As consultants employed to help you find a purchaser of your off-market property we require satisfactory evidence of your identity, provided within a reasonable time, before we can introduce the property to one of our member buyers. We will not able to proceed with the introduction if appropriate ID documentation has not been provided.

13.0 DATA PROTECTION

13.1 In the course of providing services to you, we will collect or receive personal information relating to you and (where relevant) your employees, officers, and shareholders or Residential TOB SCOT 20201027 (where the Client is an individual) members of your family. We will use such personal information for the purpose of providing services to you in accordance with our appointment. Your personal data will never be passed on to any third party without your prior consent.

13.2 If you provide personal information to us relating to another person, you must ensure that you are permitted to pass such information to us and that the individual concerned is aware that you are passing their personal information to us.

13.3 We require your consent to opt in to enable you to receive emails, about products and services that we think may interest you. If you opt in, you can unsubscribe at any time. This can be done online or by emailing info@buyersmarket.uk

13.4 If you have any queries about how we use your personal information our Privacy Policy can be found on our website www.buyersmarket/privacy-policy.

13.5 Personal data as defined in the Data Protection Act 2018 and as defined in the General Data Protection Regulations (GDPR).

14.0 RELATED SERVICES

14.1 It is possible that you and/or the purchaser of the Property you are selling may wish to instruct us with regard to a property related service and such services may be offered by us to you and/or the purchaser. The services might include: a) The sale or purchase of another property

14.2 In such instances, we or our employees may earn some form of remuneration in relation to those services.

15.0 CONFLICTS OF INTEREST

15.1 As consultants acting for both our Buyer Members and to sellers under this agreement, we undertake to end our communication with the seller except via their chosen conveyancing solicitor once they are appointed to conclude a sale.

15.2 As consultants contracted to provide introduction services to you, we undertake to disclose promptly, both to you and a purchaser, any connection that we or any of our employees or associates may have with either party, whether directly or indirectly, or with any member of their respective families. Should we become aware of any such interests, we will advise you promptly in writing. Should you be aware of any such connection with us you must advise us in writing as soon as it becomes known.

16.0 HEALTH AND SAFETY

16.1 You are responsible for all health and safety, and environmental obligations in accordance with all relevant laws, enactments, orders, codes of practice and regulations in relation to our Appointment.

16.2 You must ensure that we are notified of and provided with all relevant information relating to risks to health and safety, and any documentation and/or measures in place to manage those risks. This includes any relevant information to ensure that any viewings or visits are conducted safely.

17.0 UNOCCUPIED PROPERTY

We are not responsible for the management, maintenance or repair of the Property. It is your responsibility to ensure that where Property is unoccupied the Property is adequately secured, mains services are dealt with, water and heating systems professionally drained and insurance cover put in place.

18.0 CONFIDENTIALITY

18.1 Each party undertakes that it shall not disclose to any person any confidential information concerning the business, affairs, customers, clients or suppliers of the other party except as permitted by clauses 19.2.

18.2 As may be required by law, Court order or any governmental or regulatory authority.

19.0 INTELLECTUAL PROPERTY RIGHTS

19.1 All Intellectual Property Rights and all other rights in all reports, drawings and accounts and other documentation created, prepared or produced by us in relation to our Appointment shall be owned by us. Subject to

19.2 below, we license all such rights to you free of charge and on a non-exclusive, worldwide basis to such extent as is necessary to enable you to make reasonable use of such reports, drawings and accounts and other documentation. If the Appointment terminates, this license shall automatically terminate.

19.2 You acknowledge that, where we do not own any preexisting materials, your use of rights in pre-existing materials is conditional on us obtaining a written license (or sub-license) from the relevant licensor or licensors on such terms as will entitle us to license such rights to you.

20.0 COMPLAINTS PROCEDURE AND DISPUTE

20.1 Law and where disputes would be settled

These terms and conditions (and any non-contractual obligations arising out of or in connection with them) are governed by the law of Scotland. The Scottish courts have non-exclusive jurisdiction to settle any dispute arising out of or in connection with these terms and conditions (including disputes around any non-contractual obligations arising out of or in connection with these terms and conditions.

21.0  ASSIGNATION

You shall not be entitled to assign, sub-contract or otherwise dispose of any of your rights or obligations under these Terms of Appointment without our prior written consent.

22.0 ORDER OF PRIORITY

These Terms of Business and the Accompanying Letter are to be read together as a single document which make up the “Terms of Appointment”. In the event of any conflict, the terms of the Accompanying Letter will prevail.

23.0 FORCE MAJEURE

We reserve the right to delay performance or to cancel the Appointment (without liability to you) and we will not be liable to you for any delay in performing or failure to perform our obligations under the Terms of Appointment if we are prevented from or delayed in the carrying on of our business due to circumstances beyond our reasonable control including, without limitation, acts of God, governmental actions, war or national emergency, acts of terrorism, protests, riot, civil commotion, fire, explosion, flood, epidemic, lock-outs, strikes or other labour disputes (whether or not relating to either party’s workforce) or your default provided that, if the event in question continues for a continuous period in excess of 10 days, you shall be entitled to give notice in writing to us to terminate the Appointment.

24.0 ENTIRE AGREEMENT The Terms of Business and the Accompanying Letter constitute the entire agreement and understanding of the parties as to the subject matter of the Terms of Business. They supersede any prior agreement or understandings between the parties and no variation of the Terms of Business will be binding unless agreed in writing.

25.0 APPLICABLE LAW & JURISDICTION Whether or not the Property is situated outside the UK, the Laws of Scotland shall apply to these Terms of Business.

26.0 PROVISION OF SERVICES REGULATIONS Under the Provision of Service Regulations 2009, we are required to make certain information available to customers to whom we are providing services. This information can be found at the following web address: www.buyersmarket.uk

27.0 CANCELLATION RIGHTS (distance and off-premises contracts only)

27.1 Under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 when a contract is signed during a visit by an employee to your home or place or work away from Buyers Market business premises you have a ‘cancellation right/cooling off period’ allowing you to cancel this agreement without given any reason, as long as it is within 14 days (“Cancellation Period”). Upon cancellation we will reimburse to you any expenses already paid by you to us no later than 14 days from the day on which we receive the written request cancelling the agreement.

27.2 We will not perform our services within the cancellation Period unless you make a written request that we do so. If you make such a request and then subsequently cancel the Agreement during the remainder of the Cancellation Period, you will be liable for the reasonable fees and costs we have incurred up to the dale of cancellation.