Form of instructions containing onerous commission term
To
[insert the name, address etc. of estate agent]
[Date]
Re [description of property]
- I instruct and authorise you to offer the above property for sale at the price of Rs. __________.
- I agree to pay you commission at the rate of five per cent on the first Rs. ________ two and one-half per cent on the next Rs. _________ and one and one-half per cent on the remainder of the purchase price if and when (a) a prospective purchaser signs your “purchaser’s agreement” and (b) I sign your “vendor’s agreement” (receipt of a copy of a form of each of the above agreements is hereby acknowledged).
[Signature of vendor]
