Non-Exclusive Real Estate Sale Mandate Contract
The Non-Exclusive Real Estate Sale Mandate Contract is a legal agreement between a property owner and an agent, where the agent commits to managing the sale of a property without exclusivity. This document is ideal for owners who wish to retain the freedom to sell their property through other means. It includes clauses on responsibilities, commissions, and sale conditions, offering flexibility and protection for both parties.
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When to use this Non-Exclusive Real Estate Sale Mandate Contract?
Owner wishing to sell their house without committing to a single agent
María, a 45-year-old owner, wants to sell her house in Madrid. She opts for a Non-Exclusive Real Estate Sale Mandate Contract to negotiate with multiple agents and increase her chances of sale.
Real estate investor managing multiple properties
Javier, a real estate investor, uses this contract to sell several properties in Barcelona without being tied to a single agent, allowing him to maximize his opportunities in the market.
Owner wishing to maintain control over the sale of their property
Ana, owner of an apartment in Valencia, uses this contract to work with an agent without losing the possibility of selling the property on her own if the opportunity arises.
Sale of an inherited property by several co-owners
Three siblings who have inherited a house in Seville decide to use this contract to allow each one to seek potential buyers, thus increasing the property's exposure in the market.
What does this Non-Exclusive Real Estate Sale Mandate Contract include?
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Frequently asked questions about Non-Exclusive Real Estate Sale Mandate Contract
What is a Non-Exclusive Real Estate Sale Mandate Contract?
It is an agreement where a property owner entrusts an agent with the sale of their property without granting exclusivity, allowing the owner to sell on their own or with other agents, according to article 1709 of the Civil Code.
What are the obligations of the principal in this type of contract?
The principal must provide the agent with all necessary documentation for the sale, allow access to the property for visits, and notify any offers received, according to the contract clauses.
How is the agent's commission determined?
The commission is established as a percentage of the final sale price and is paid upon formalizing the deed of sale before a notary, provided the agent has actively participated in the negotiation.
Can the principal sell the property on their own?
Yes, the principal can sell the property on their own or through other agents, without the agent being entitled to the commission, unless they contributed to the sale.
What happens if the principal does not provide the necessary documentation?
Lack of documentation can delay or prevent the sale of the property, as it is necessary to comply with current regulations and for the agent to perform their duties effectively.
What additional expenses must the principal assume?
The principal must assume notarial fees, transfer taxes, and registration fees, unless otherwise agreed in the contract.
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