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Terms & Conditions

Please see below the terms and conditions for purchasing property deals through RST Properties Ltd. Outlines obligations of the sourcer and investor:

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1 Obligations of the Sourcer:

  • 1.1 The Packaged Deal. No later than 3 working days after the Commencement Date, the Sourcer shall provide the Investor with the Full Property Details.

Duties of the Sourcer:

  • 1.2 Good faith. The Sourcer shall at all material times act in good faith towards the Investor;

  •  1.3 Due Diligence. The Sourcer confirms that it has carried out reasonable due diligence in putting together the Packaged Deal to ensure the Property has a reasonable chance of being a viable property deal.

  • 1.4 Status of the Sourcer. The Investor agrees and acknowledges that the Sourcer is solely an introducer of deals and not an agent for the Investor or for the vendor of the Property.

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2 Obligations of the Investor:

  • 2.1 Good faith. The Investor must at all material times act in good faith towards the Sourcer.

  • 2.2 Due Diligence. The Investor shall undertake any additional due diligence in relation to the Property and its suitability. The Investor warrants and represents that it has assessed its own financial status and is able to obtain the required funding to acquire the Property (including but not limited to the purchase, rent or option of the Property) and pay all associated fees, including but not limited to those due under this agreement.

  • 2.3 Provision of information. The Investor shall: Provide the Sourcer at all material times with the information and documentation the Sourcer reasonably requests; comply with all client due diligence requests from the Sourcer and any approved third parties​


3 Finder’s Fee:

  • 3.1 Entitlement to Finder’s Fee. In consideration for introducing the Investor to the Packaged Deal, the Investor shall pay the Sourcer the Finder’s Fee in accordance with this clause 4.

  • 3.2 Taxes. All amounts payable by the Investor exclude amounts in respect of value added tax (VAT), which the Investor shall additionally be liable to pay to the Sourcer at the prevailing rate (if applicable), subject to receipt of a valid VAT invoice.

  •  3.3 Due date for Finder’s Fee. The Investor shall pay the Finder’s Fee to the Sourcer, on the Commencement Date, to a bank account nominated in writing by the Sourcer.

  • 3.4 Cooling Off Period. Provided that the Investor has not taken any steps to acquire the Property (including but not limited to the purchase, rent or option of the Property), the Investor may, within 14 days of the Commencement Date, request a refund of the Finder’s Fee.

  • 3.5 Exercise of Cooling Off Period. Where the Investor exercises its right to a refund pursuant to clause 3.4, the Investor must not:

3.5.1 proceed to acquire the Property (including but not limited to the purchase, rent or option of the Property) either itself nor through any other party;

3.5.2 refer on the Packaged Deal to any third party;

3.5.3 contact the agent, property owner or any other party in relation to the Packaged Deal;

3.5.4 disclose the Packaged Deal to any third party. 

  • 3.6 Breach of Cooling Off Period provisions. Where the Investor has exercised its right to a refund pursuant to clause 3.4 but has engaged in any of the activities in clause 3.5, the Investor shall no longer be entitled to a refund if it has not yet been processed and paid, and if the refund has already been paid to the Investor, the Investor shall repay the refund to the Sourcer in full within 5 business days of the request to do so. Failure to repay the refund may result in court proceedings and would require the Investor to pay the Sourcer’s legal costs.

 

4. Confidentiality:

  • 4.1 Obligations of confidentiality. Each party undertakes that it shall not at any time during this agreement, and for a period of five years after termination of this agreement, disclose to any person any confidential information concerning the business, affairs, customers, clients or suppliers of the other party or of any member of the group of companies to which the other party belongs, except as permitted by clause 4.2.

  • 4.2 Confidentiality exceptions. Each party may disclose the other party's confidential information:

  • 4.2.1 to its employees, officers, representatives or advisers who need to know such information for the purposes of carrying out the party's obligations under this agreement. Each party shall procure that its employees, officers, representatives or advisers to whom it discloses the other party's confidential information comply with this clause 4; and 4.2.2 as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.

  • 4.3 Limited use of confidential information. No party shall use any other party's confidential information for any purpose other than to perform its obligations under this agreement.

  • 4.4 Return of documents and records. All documents and other records (in whatever form) containing confidential information supplied to or acquired by the Sourcer from the Investor shall be returned promptly to the Investor on termination of this agreement, and no copies shall be kept, whether digitally or otherwise.​

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Property Details & Valuation/ Down valuation


Upon receipt of the full finder’s fee, RST Properties Property will provide the following property information:

  • Full postal address

  • Online agent listing link (if available)

  • Complete details of the selling agent

  • Complete details of any letting agents sourced

  • Viewing and inspection form (if applicable)

  • Any available RICS surveyor reports

 

Property Valuation

RST Properties strives to negotiate the best possible purchase price when securing a deal. All agreed terms will be approved and confirmed in writing. We strongly recommend that a full property valuation and survey are carried out prior to completion.

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Down Valuation

On occasion, a property may be down-valued at the point of survey. A down valuation does not constitute valid grounds for a refund. The investor is responsible for satisfying themselves, within the 14-day refund period, that they are confident in the valuation and comfortable with the investment.

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Property Replacement

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RST Properties will work with the investor in finding a replacement property under the following circumstances:

 

  • Where the vendor withdraws from the sale at any point in the purchasing process after the initial 14-day period. If the withdrawal occurs within the first 14 days, a full refund of the finder’s fee will be issued.

 

  • Where the property is down-valued by more than 10% of the agreed purchase price.

 

  • Where the vendor withdraws as a result of issues identified in the property survey that deem the property financially unviable.

 

  • Where the property is deemed unmortgageable by a surveyor, subject to the provision of supporting evidence.

 

Where the investor’s finance application is declined; in such cases, a replacement property will be offered once funding can be secured. NOTE: If the investor  can’t get a mortgage, they change their mind after 14 days then no refund is issued under any circumstance.

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Refund Policy


Our refund policy is outlined below:

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  • You have 14 days from the date of signing this document to request a refund. Refund requests must be submitted by email to rst_properties@outlook.com

  • Proof of payment will be required. Any approved refund will be issued to the original source of payment within 28 days of the original payment date.

  • Refund requests submitted more than 14 days after the date of signing this agreement will not be accepted under any circumstances.

  • RST Properties. will not compensate for or cover any legal fees or other costs incurred by the customer under any circumstances.​

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