SELLING MANDATE

Our Seller’s mandate to you as follows:

1. For us to accept your introduction of a prospective purchaser the following two conditions must be met, and until such time we reserve the right to accept other introductions from other brokers for the said prospective purchaser.

a. You must have shown the prospective purchaser around the building, and

b. The prospective purchases must have shown  further  interest by either submitting am ” Offer to Purchase” or by arranging a meeting
     between the prospective purchaser .

2. The acceptance of your introduction shall be valid for 30 days only and only for that specific building.

3. Should you be the effective cause of the concluded sale, agents commission will be calculated as set out in clause 4 below. Vat, at the applicable rate, is payable on commission should the broker be a registered Vat vendor.

4. 5% on the first R1 Million of the selling price; 3.5% on the next R1 Million; 2.5% on the balance of the selling price. The selling price excluding vat is used. The commission rate assumes the sale is concluded at the mandated price and on terms substantially the same as those contained in the Seller’s Agreement of Sale document. Variation to the mandated price and/or sales terms may require the rate of commission payable by the Seller to be adjusted by negotiation between the parties.

5. No variation of this mandate will be accepted unless agreed to in writing by ourselves.

6. This mandate is effective with immediate effect and replaces all previous mandates except those previously reduced to writing in terms of clause 5 above.

7. Please note that the display of Agents Boards will not be permitted.

Should you have any further queries please contact us.

Issued by Master Tyre Properties (Pty) Ltd
20 January 2021