August 8, 2022

News Collective

Complete New Zealand News World

What is the requirement for real estate exclusivity to sell your home

What is the requirement for real estate exclusivity to sell your home

There are several ways to sell a home and putting yourself in the hands of a real estate agency is usually one of the most common ways. The advantages are many, Among them we can mention the convenience of the owner in not having to deal with visits or paperwork when signing the sale. But there is obviously also a series of requirements associated with selling our property through an agency that can end up hurting the owner.

One of them is the exclusivity clause that usually appears in all contracts signed with these real estate agencies. What does this condition mean? Well, the owner undertakes not to sell the house agreed with the agency in a special way provided that compensation is paid to him in case of non-compliance with this condition.

in The perfect real estate portal Explain that in some cases this item It can explicitly prevent the owner from selling his house directly and on his own. However, it should be noted that there has been open debate for some time about the legality or illegality of this clause and doubt about how to act and whether the owner can sell the property if this prohibition is not expressly established. Contract with the agency.

Is this item legal?

Sepín Real Estate Law Director, Felix Lopez-Davila, explains in an article compiled by Idealista Whether or not the appearance of this express clause presumes an infringement of rights in defense of consumersYes indeed in 2019, the Civil Chamber of the Supreme Court analyzed this issue and concluded that the exclusive agreement is fully valid based on the contractual freedom enshrined in Article 1255 of the Civil Code. But Lopez-Davila points out that in order to assess the validity of the condition, it is necessary to take into account the “clarity of the wording of the contract” and “the amount of compensation specified in the event of non-compliance.”

See also  Cryptocurrency roller coaster: This is how it was listed on May 14, 2022

To determine Whether the compensation sought is arbitrary or not Each case must be studied individually and studied. In any case, to avoid problems or misunderstandings, it is important to re-read the entire agreement of the sale of property through a real estate agency before signing it and to realize that we may not be able to sell our apartment. individually (if appropriate arises) Under breach of agreement Hence lower payout risk.