Property: Green Shoots, Agent’s Commission and Fidelity Fund Certificates

Property: Green Shoots, Agent’s Commission and Fidelity Fund Certificates

Dollar billionaire Andrew Carnegie said it a century ago, and it still rings true – wise property investment can be hard to beat when it comes to accumulating wealth. The exciting opportunity for buyers at the moment is of course the more attainable sale prices and the lower interest rates resulting from the pandemic and the lockdown. It is, by all accounts, still very much a buyer’s market. On the other side of the coin, sellers and estate agents are no doubt heartened by recent signs that the first green shoots of a recovery are in the offing, and so…
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Estate Agents: How to secure your commission

Estate Agents: How to secure your commission

Are you an agency trading through a company or close corporation (CC)?  If so, this is for you - a recent High Court (Full Bench) case in which a close corporation lost its commission because its Fidelity Fund Certificate (FFC) was only in the sole member’s name and no separate FFC had been issued to the CC. Coming short – a CC without its own FFC A close corporation estate agency successfully carried out its mandate to find a tenant for a landlord. Only the sole member of the CC held an FFC, which stated that it was issued to…
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